Investors have faced a very challenging environment so far in 2022, with most broad asset classes losing value through the first half of the year. While stock investors should expect periodic losses as they pursue long-term growth, investors usually look to bonds as the “safer” allocation within their portfolio, and they generally expect them to buffer their portfolio somewhat when stocks decline. In a surprise to many, that hasn’t been the case so far in 2022, as stocks and bonds, even many of the highest quality, suffered double-digit losses in the first half of 2022. Stocks and bonds have rebounded somewhat as of this writing; however, both remain down for the year, pressured by something most current investors haven’t experienced: high inflation.

With all the murmurs of an impending recession looming on the horizon, one only has to look to the steady rise of inflation to discover a possible root cause. Knowing how the potential adverse consequences of a recession could compound the economic woes coming out of the pandemic, the U.S. government recently passed The Inflation Reduction Act of 2022. This historic bill seeks to lower the deficit, address climate change, and decrease healthcare and drug prices.1 Here are some of the potential benefits the average American family could see as a direct result of this legislature.

Most of us understand the basics of life insurance policies. You pay premiums to an insurance company in exchange for the assurance of future payment if someone who’s covered on your policy passes. These life insurance proceeds are generally tax-free for your beneficiaries.1 But some permanent life insurance products, including whole life, universal life, and index universal life insurance can include a “cash value” component that is separate from the death benefit most people would be familiar with. The policyholder can use this cash value in a variety of ways, and it can have even more tax advantages than you might realize. So, let’s take a closer look at those benefits.

For millions of people struggling with student loan debt, there’s reason to be optimistic. The Biden administration has released details about how it wants to overhaul the existing income-driven repayment (IDR) plan for federal student loan borrowers, known as Revised Pay As You Earn Plan or REPAYE.1 While related to President Joe Biden’s well-known plan for student loan forgiveness, this is actually a separate effort. So, what’s included in the new initiative? Let’s take a closer look at some key features of the plan.

Undergraduate loan payments cut in half

Under the proposal, borrowers on IDR plans would need to pay 5% of their discretionary income (defined as income above 225% of the federal poverty guideline if the proposal passes, up from 150%) on undergraduate loans, down from 10%.2 This would be half the rate charged today on even the most generous IDR plans, including the current iteration of REPAYE. Borrowers with only grad school loans would still pay 10%, and people with loans for both undergrad and graduate studies would pay between 5-10%.1

The COVID-19 pandemic not only caused widespread sickness and death, but it has led to stress and anxiety for many, taking a devastating toll on mental health.

Scientists also know chronic stress can cause physical health problems. It can contribute to heart disease risk factors such as high blood pressure, diabetes, smoking and obesity. Long-term stress is also associated with the risk of cardiovascular disease and some cancers.

It's only natural to want to help our loved ones whenever we can. Though when it comes to what happens shortly after our passing — the arrangements friends and family will have to make for our burial or cremation — most people would rather not go there. But unless you’ve figured out something the rest of us haven’t, we can’t ignore these financial decisions.

In 2021, the median cost of a funeral with a viewing and burial was $7,848.2 Even if your estate has the funds to pay for the arrangements you’d like, that money likely won’t get to your beneficiaries for several months.1 That’s where final expense life insurance can step in. It’s an easily accessible way to make sure you and your family are covered for the expenses that arise after your passing.