Inflation remains a significant concern, with prices rising 2.6% in October compared to the same month last year, according to the latest Consumer Price Index (CPI) report released on Wednesday. While this marks a considerable decrease from the higher inflation rates seen throughout 2022 and 2023, it’s still higher than the inflation rate recorded in September.
Economists warn that this ongoing inflation signals that the country’s price pressures are not over yet, and the Federal Reserve’s efforts to control rising costs must continue.
Struggling to Buy a Home? Consider a “House Hack”
When Joe Christiano’s sister and her partner decided to move in together, Christiano wanted to help. However, housing in the Bay Area, where they live, is extremely expensive, with both rentals and home purchases well beyond their budget. At one point, the couple was considering homes priced around $800,000—only to discover they had significant structural issues.
The search seemed never-ending until Christiano reconnected with a former high school friend. This friend had started a company called Nestment, which helps people who’ve been priced out of the housing market find alternative paths to homeownership.
Inheriting Wealth? Don’t Expect Too Much
If you’re hoping for a large inheritance when your boomer parents pass, you might want to temper your expectations. A recent study by Northwestern Mutual reveals a sharp contrast between the number of younger Americans who expect to inherit wealth and the number of older Americans who actually plan to leave an inheritance.
Only about 20% of Millennials and Gen Xers expect to receive an inheritance, highlighting a growing gap between generational assumptions and the financial plans of older Americans.
