Episode 3: what happens if i get sick in retirement?
In May, we held a pre-retirement webinar that touched on five main questions to answer as you prepare to move in to retirement. Last week, Barry touched on the question, "How much money do you need to retire?". In this episode, we address the question, "What happens if you get sick in retirement?" We hope you enjoy!
Retail Sales Easily Beat Expectations In May:
For the month of May, forecasters were expecting a record-setting increase in retail sales. As it turns out, sales rose 17.7%, easily beating the consensus expected 8.4%. While every category experienced significant gains, automobiles were up 44.1%. Car sales are now down only 3.9% in the past year. Restaurants (+29.1%), clothing stores (+188%) furniture (+89.7%), and department stores (+36.9%) were also big winners during the month of May. Retail sales are still down 6.1% versus a year ago, but this is a strong start to recovery.
Housing Starts Increase 4.3% in May:
Even though housing starts increased by 974,000 million in May, they were lagging the consensus expected 1.1 million. Starts are down 23.2% versus a year ago. In addition, starts rose in the West and Northeast, but fell in the South and Midwest. Builders' ability to start new projects remain constricted through a combination of supply-chain disruptions and social distancing measures for workers. As far as single-family home purchases are concerned, applications are up nearly 20% compared to last year. Here's a graph from CNBC showing the fall and rise in mortgage applications:
And You Thought Your Dog Was Well Trained.....:
On Tuesday, robot maker Boston Dynamics put it's robot dog, Spot, on the market for general sale. Any US business may purchase the dog for an affordable $74,500, the same price as the luxury Tesla Model S. The robot can go essentially anywhere humans can and has no "accidents" in the house. According to The Verge, Spot has been used to create 3D maps of construction machines and hunt for machine faults in offshore oil rigs. It was also used to work with a police bomb squad. Boston Dynamics will continue upgrading Spot as it gets feedback from customers. The jury is still out on when they will offer a Goldendoodle option.
Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. While familiar with the tax provisions of the issues presented herein, Raymond James financial advisors are not qualified to render advice on tax or legal matters. You should discuss any tax or legal matters with the appropriate professional.
* Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors, firms/publications or opinions of any of the quoted authors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.
This material is being provided for information purposes only and is not a complete description, summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct or continue.
Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design), and CFP® (with flame design) in the U.S., which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.*
Investing involves risk and you may incur a profit or loss regardless of strategy selected. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor's results will vary. Past performance does not guarantee future results. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market. This is not a recommendation to purchase or sell the stocks of the companies mentioned.
The Dow Jones Industrial Average (DJIA), commonly known as “The Dow” is an index representing 30 stock of companies maintained and reviewed by the editors of the Wall Street Journal. All funds held at Raymond James Bank and participating banks in the Bank Deposit Program are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, per insured bank, for each account ownership category. Additional information can be found at
fdic.gov or by calling 877.ASK.FDIC (877.275.3342). Raymond James & Associates, Inc. and Raymond James Financial Services, Inc. are affiliated with Raymond James Bank, member FDIC. Unless otherwise specified, products purchased from or held at affiliated Raymond James Financial, Inc. companies are not insured by the FDIC or any other government agency, are not deposits or other obligations of Raymond James Bank, are not guaranteed by Raymond James Bank, and are subject to investment risks, including possible loss of the principal invested.
Dividends are not guaranteed and must be authorized by the company's board of directors.