Many advisory firms talk about their array of tools and resources. Every firm that is worth talking to
has them. The difference, however, is what the advisor does with them. Do they have the insight to use
them properly? How well do they apply them to help you? ACG’s insights may help provide a sense of
our ability to help you achieve success, as you define that term.
“Most kitchens have the same spices in the spice rack. That does not mean everyone is a good cook.”
– anonymous
As financial professionals, managing expectations about investment returns is part of our job. So, we avoid making optimistic statements about the future. But we are obliged to help investors understand the boost artificial intelligence is expected to give to the growth rate of the U.S. economy. Here’s what to know about what’s expected to happen to the U.S. economy in the years ahead. A nation’s potential growth rate – its gross domestic..
Strong job creation in May, reported Friday morning, dispelled any chance of a recession in the foreseeable future, sending stock prices higher and capping a strong week of improvement in the outlook for the U.S. According to the U.S. Bureau of Labor Statistics, 339,000 new jobs were added to the economy in May -- nearly twice as many as expected by Wall Street. Moreover, jobs continued to be created at a pace on par with the dot-com boom and the..
Three-hundred-fifty artificial intelligence (AI) executives, researchers, and engineers issued a dire warning Tuesday that the technology poses an existential threat to humanity. “Mitigating the risk of extinction from A.I. should be a global priority alongside other societal-scale risks, such as pandemics and nuclear war,” said a 23-word statement released by the Center for AI Safety, a nonprofit organization. While the b..
Personal consumption expenditures (PCE) sharply increased by 0.8% in April, while disposable income (DPI) rose 0.4%, as consumers continued to tap excess cash in savings accounts that were built up from government stimulus payments made in 2020 and 2021 following the pandemic. The chart above shows the savings rate in April ticked down to 4.1%, less than the pre-pandemic rate. Meanwhile, in the 12 months through the ..
Economist Fritz Meyer yesterday said inflation is slowing rapidly and warned of a period of deflation. At his monthly webinar for CFP, CPA, CIMA, CFA professionals, Mr. Meyer showed several charts tracking inflation expectations, including the two shown below. The rate of Inflation expected by consumers for the next 12 months, three years, and five years are shown in the chart above. The data are based on a survey of consumers conducted by The Ne..
A quarter of the tasks performed in 2023 by American workers are expected to be automated by Artificial Intelligence (AI) by 2030 and U.S. labor productivity is expected to surge. The U.S. labor force is about to be reshaped. Here are three implications of AI on personal financial plans. Manias And Bubbles. From tulips to cryptocurrency, financial history is replete with manias and bubbles sparked by the next big thing. AI investments could bec..
The bear market, which started June 23, 2022, and bad timing, loom large for many investors in their 60s. Labor Department data show the labor participation rate dropped during the pandemic. Many more individuals than expected in their 60s retired earlier than planned after the pandemic struck in March 2020. Then, came Russia’s invasion of Ukraine, an inflation crisis, and China’s threat to the U.S. led world order. The confluence of bad cond..
Grandparenting is more important than ever. It’s also much harder to do than a generation ago. This is the first in a series about grandparenting. The internet puts information instantly at our fingertips, but separating sales pitches from real knowledge takes time. Google advertisements and sales content make it hard to find knowledge not designed to sell products or services, or to steal your personal identity. As a trusted advisor on persona..
There was good and bad news for investors this week: The good news was that the economy is not sliding into a recession anytime soon, despite Wednesday’s quarter-point interest rate hike by the Federal Reserve -- the tenth hike in the past 13 months. The bad news was the same: The economy is not sliding into a recession anytime soon, despite the most aggressive monetary tightening campaigns in modern history. With Friday’s news that the..
An investment’s risk is usually defined as its standard deviation. The financial press and investment marketers cannot be faulted for defining risk as standard deviation. Reducing the concept to a single statistic makes it easy to understand. However, standard deviation expresses only one aspect of investment risk. It totally misses the more important human component: how you will behave in reaction to your wealth disintegrating in a crisis lik..
Inflation slowed in March, while real disposable personal income rose and so did real consumer spending, according to government data released Friday morning. Meanwhile, the U.S. economy grew by 1.1% in 1Q 2023, which is not great but may be enough to keep the economy from falling into a recession while tight monetary policy snuffs out inflation. Inflation peaked, following a historic post-pandemic surge. At 4.2% for the 12 months through March, ..
For months, the debt ceiling problem has sounded ominous. With a make-or-break deadline nearing, here’s a dispassionate summary of what’s going on. To start, remember this famous quote: “Americans can always be relied upon to do the right thing — having first exhausted all possible alternatives.” Often mistakenly attributed to Winston Churchill, scholars say Israeli diplomat Abba Eban is the correct source of the quote. Regardless of wh..
America has embraced social media without regulating it for over a decade, but children experienced a troubling increase in mental illness and social problems...
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