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Advisor's Edge Highlights of the Month from Share Scoops!

Frequently Asked Question❓ 

How do I decide what the right investments are for me?

Answer at the bottom of the newsletter

People aren't buying new homes as much.

People aren't buying new homes as much. Sales of new single-family homes fell 13.7% in May to the lowest since last fall, according to the Commerce Department. High mortgage costs, rising building expenses due to tariffs, and growing economic uncertainty have made it more challenging for buyers to enter the market, even as builders offer more incentives and price reductions to clear inventory. The supply of new homes for sale has reached its highest level since late 2007, and there's now nearly a ten-month supply at the current sales pace. Despite slowing demand, the median new home price increased to $426,600, up 3% from last year, partly because builders are still facing higher costs from tariffs on materials like lumber and steel. Most of the sales decline came from the South, the nation's biggest homebuilding region, where new home purchases dropped 21%. Other regions also saw pullbacks, except for the Northeast, which saw sales rise. For would-be buyers, the upside is more choices and negotiating power, but with such high costs, many are waiting for lower rates or better deals.

The cost of owning a car in America has skyrocketed, leaving many families struggling to afford repairs, insurance, and new vehicles.

The cost of owning a car in America has skyrocketed, leaving many families struggling to afford repairs, insurance, and new vehicles. According to recent data from the Bureau of Labor Statistics, it now costs over $12,000 a year on average to own and operate a car, factoring in everything from monthly payments and gas to insurance, repairs, and maintenance. That's nearly 30% more than it cost a decade ago. According to Cox Automotive, new car prices are almost $49,000 on average, pricing many buyers out and sending them to a used market that has also grown pricey. Parts are harder to replace, labor costs have jumped, and advanced electronics make fixing problems both more expensive and more complicated. The typical repair now costs $838, and many families are forced to ditch their cars after minor crashes because the cost to fix them outweighs the vehicle's value. Meanwhile, insurance costs have risen sharply, increasing by 10% last year alone. Those who still need to drive to work or haul kids to school must budget carefully, keep up with maintenance, and shop around for insurance and repairs.

The government is running out of money to support retirees.

The government is running out of money to support retirees. According to new reports from the US Treasury, Social Security and Medicare will soon fall short on funds, risking benefit cuts for tens of millions of retirees. Social Security provides monthly income to 70 million retirees, people with disabilities, and survivors of deceased workers, funded by payroll taxes from 185 million workers and their employers. Medicare helps cover hospital bills for people aged 65 and older. Both programs are essential for retirement security, but an aging population, rising healthcare costs, and static laws have been draining the surplus funds even faster than expected.

The Social Security trust fund for retirement benefits is now expected to run dry in 2033. When that happens, incoming payroll taxes would only cover 77% of the promised income for beneficiaries. The Medicare hospital insurance fund is also projected to be depleted in 2033, meaning only 89% of healthcare costs could be paid. Social Security payments account for more than half of household income for 40% of retirees. Twenty percent of beneficiaries depend on it for their entire income. Without action from Congress to raise taxes, cut benefits, or both, millions face reduced support at a time when they can least afford it. 

Your Advisor's Edge Team

💡 Answer to the Question:

Personal finance is personal. The first thing any financial advisor will ask is what we’re trying to accomplish. If we’re generally focused on building wealth throughout our lifetime, the two most important considerations are timeline and risk tolerance.

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