Cue dystopian vibes (minus the YA love triangle): The economy seems to be splitting in two.
Economists call this a “K-shaped economy.” One group is moving up financially. Another is moving down. And increasingly, people who live on the same block, work at the same company, or even belong to the same family can end up on opposite sides.
If that weren’t depressing enough, some economists say the gap resembles a crocodile’s jaws — widening, with plenty of bite.
The Great Wealth Transfer may explain part of that disconnect. Over the next two decades, trillions of dollars will move from Baby Boomers to Gen X, millennials, and Gen Z — through inheritance or as quieter help along the way, like down payments or childcare.
So if this resonates:
Know you’re not imagining things. Economic divergence is real, and the data backs it up. That means you may need to shift economic goals. Your definitions of success could look very different than your parents had been, and that’s OK.
Talk to someone about your money. Some employer benefits now include access to financial advisors who can help you create a plan and prioritize goals. These conversations can be especially helpful before a major financial move, like tapping your 401(k).
“Groceries are expensive” is the new “the news is crazy.” Obvious… especially if you live in these states, where grocery prices run higher than the rest of the country. But while you can’t do much about the headlines, you can try these moves to lower your food bill:
March is about celebrating women’s progress and power. And one of the most empowering things you can do? Have a plan to reach your money goals. Whether it’s a career leap, home ownership, early retirement, or starting something of your own, Northwestern Mutual can help you create a comprehensive financial plan that turns those hopes into action. And strategies to grow and protect your money along the way are very much included.†
A Northwestern Mutual financial advisor can help you uncover blind spots, spot opportunities, and build a personalized plan that’s designed to evolve with you — through every milestone and pivot. It might not feel like the “perfect” time to start, but the right time? That’s now.
†No investment strategy can assure a profit and does not protect against loss in declining markets.
Explain it to Me
Um, Is My Money OK?
The US and Israel's joint attack on Iran is rapidly evolving — and shifting global markets with it. No one has a crystal ball, but here’s what experts and economists do know:
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