Summer's just around the corner, but as the Iran conflict continues to affect fuel prices, more would-be vacationers are canceling plans for road trips and flights. This has contributed to consumer sentiment numbers sinking to a new low, with lower-income families hit especially hard. Rising inflation numbers have also introduced new challenges.
As housing costs climb and generations age, more families are opting for multi-generational properties. These larger homes are designed to house occupants from three generations, providing safety and privacy to everyone. It's a lifestyle trend that's more common within European countries, and is becoming more popular here in the United States.
Generation X buyers aged 46 to 61 are sometimes referred to as "the sandwich generation" because of their dual roles supporting their children and parents. They've increased their share of ownership of multigenerational properties from 12% in 2013 to 21% today. A recent Realtor.com report estimated there are 4 million multigenerational households, representing 4.5% of all owner-occupied households, as of 2024.
Like other larger homes, buying a home with sufficient room for three generations will be more expensive than a single-family home. However, they also provide their own money-saving features — for example, all residents can pay a percentage of the monthly utility bills.
Contact your local APM Loan Advisor to learn more about your family's financing options for multigenerational properties.
Source: finance.yahoo.com
If you have concerns about unexpected medical expenses, adding a critical illness policy — also called supplemental health insurance — to your existing insurance can provide peace of mind at a particularly stressful time.
Critical illness insurance provides a lump sum payment if you or a family member suffers a serious health issue. Depending on your coverage, these may include a heart attack, diagnosis of a chronic illness, or an organ transplant.
A major advantage of this coverage is that, in most cases, you can use your lump sum payment for nearly anything you like. In addition to hospital stays and medical bills, you can finance travel to medical centers and hospitals or cover everyday expenses like rent or groceries. It can also help pay for an out-of-network provider.
While this coverage can be a lifesaver, be sure to review your current health benefits before you decide on your ideal level of critical illness coverage. Some employers offer this as an additional benefit at a low cost, so you may want to buy this coverage when it's time to review your benefits package.
This article is provided for informational purposes only. For specific advice about insurance products and coverage options, please consult with a licensed insurance professional.
Source: investopedia.com
If you or a family member is job-hunting, there may be concerns about potential employers checking credit histories. This has become a controversial practice as some have pointed out that it may unfairly screen out some applicants, especially those with lower incomes.
Last year, 39 bills to restrict employer credit checks were introduced in 19 states, but restrictions are only active in:
There are some jobs where a credit check may be necessary, including those applying for jobs in banking and finance, and those where credit checks are required under federal law.
No matter where you live or what type of position you're seeking, it's a good idea to review your free annual credit reports at annualcreditreport.com before attending an interview. If you spot errors, you can request corrections on the site. You'll also be prepared to explain any negative information they may contain.
Source: credit.com
Summer vacations are just around the corner, but higher fuel prices are expected to affect road trips and flights to holiday destinations. A recent poll found that a substantial number of would-be vacationers have already changed or cancelled their plans for summer travel as gas prices have increased by 50% since the Iran conflict began.
One way to temporarily bring down prices for motorists is to suspend the federal gas tax. This move is supported by the White House, plus a number of senators and representatives.
Currently, taxes and other fees on retail gasoline and diesel fuel are 18.4 cents per gallon for gas and 24.4 cents per gallon for diesel, according to the U.S. Energy Information Administration. In addition, some states have taken steps to offer state gas tax relief. This varies from 9 cents per gallon for Alaskan drivers to 71 cents per gallon for California residents.
Reducing or pausing the federal gas tax would require congressional approval, but several lawmakers have supported this move as early as March 2026. However, some economists have concerns that suspending this tax won't provide adequate relief for many budgets. In addition, it could adversely affect the balance of a key federal fund for highway construction and maintenance.
Source: cnbc.com
Thinking about adding gold to your retirement portfolio? The "three bucket strategy" is a popular retirement plan that separates your short-, medium- and long-term goals, and you can add gold to this and other retirement plans.
If you're still planning your retirement savings, here's how the bucket strategy works.
The first bucket is for the short term. This is typically made up of cash and cash alternatives, such as certificates of deposit (CDs), that can pay for everyday expenses, like housing, gas and groceries.
The second bucket is for bonds and income-generating stocks and represents cash you may need in three to seven years.
The final bucket contains long-term growth assets that have time — like eight years or more — to ride out any volatility. These should be left alone so they'll have time to recover from corrections.
Since gold prices can be volatile, you may want to add it to your long-term assets. This gives it flexibility to recover from market downturns. Experts typically recommend limiting gold to 5-10% of your portfolio.
Like any other new investment strategy, it's important to assess your personal risk tolerance and financial goals. Ask yourself if you'll be comfortable with the price swings that gold may exhibit, and if you prefer to store physical gold or invest in a fund.
The information in this article is provided for general informational purposes only and should not be construed as investment, financial, tax, or legal advice. For guidance tailored to your individual financial situation, contact your local APM Loan Advisor for a referral to a qualified investment advisor or Certified Financial Planner (CFP®).
Source: money.com