Making A Financial Transition? Answer These Five Questions

Published Wednesday, June 2, 2021 at: 9:08 PM EDT

 

To say current financial economic conditions are unprecedented understates things: The United States, the world’s largest economy, by far, is transitioning economically from a once in a hundred-year public health crisis. Americans are also experiencing personal financial transitions, magnified by valleys and spikes in the economy as it recovers from the Coronavirus crisis. The economy is in transition and causing difficult personal financial transitions.

An economy in transition. The unemployment rate, at 6.1% in April, is far from the 3.5% achieved for months during the peak of the 2019 expansion. Meanwhile, the worst inflation threat in four decades is causing uncertainty in the stock market. In addition, the federal government spent about $5.5 trillion to inject cash into the pandemic-stricken economy and keep Americans in need from starving or financial ruin. Moreover, it is almost certain that another multi-trillion dollars in debt will be added to the balance sheet of the United States by the end of 2021 to fund much-needed infrastructure improvements.

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This article was written by a professional financial journalist for Meg Green & Associates. and is not intended as legal or investment advice.

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