Domenic Consiglio at Betcher Financial Group

01/12/2023

The Consumer Price Index (CPI) dipped 0.1% in the month of December, the first decline in the CPI since May 2020. In the 12 months through December, the CPI increased 6.5%, the smallest rise since October 2021 and follows a 7.1% advance in November. The Fed has raised its policy rate by 425 basis points from near zero to a 4.25%-4.50% range, the highest since late 2007.

If the decline in CPI is caused by a decrease in prices for necessities like food and housing, it may be seen as good for consumers who will have more disposable income. If the decline is caused by a decrease in demand for goods and services, it may indicate a weakening economy.

Inflation price changes in the last year, per the U.S. Bureau of Labor Statistics:

- CPI: +6.5%
- Food: +10.4%
- Electricity: 14.3%
- New Vehicles: 5.9%
- Used Cars: -8.8%
- Gas Utilities: +19.3%
- Motor Fuel: -0.9%

01/11/2023

The House of Representatives will vote on the reintroduction of the Fair Tax Act, which aims to replace the current income tax system with a national consumption tax. This proposal has received both support and opposition from various economic and political groups. The vote is part of a deal between House Speaker Kevin McCarthy and members of the House Freedom Caucus, and has eleven co-signers. The goal of the bill is to simplify the tax code and decrease the number of agents working for the IRS.

Critics argue that this bill disproportionately affects lower-income individuals and small businesses as consumption taxes are regressive and take a larger percentage of income from low-income people. Additionally, it may provide a tax cut for the wealthy while increasing the tax burden on lower-income groups. Supporters claim that it will simplify the tax system and promote economic growth.

06/18/2020

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Use this free tool to see how close you are to hitting your goals and to create a financial strategy. Request a consultation with a financial professional if you'd like to create a plan.

03/09/2020

"The S&P 500 fell 7% at the open on Monday morning. This triggered an automatic trading halt until 9:49 a.m. Stocks fell sharply due to oil prices plummeting 30% after Saudi Arabia launched a price war against Russia and due to concerns about the coronavirus pandemic. After trading resumed, the S&P and Dow Jones were down about 6%."

The US stock market plunged as much as 7% immediately after regular trading began on Monday, prompting the first halt since the depths of the fi...

12/10/2019

"The city faces continued challenges related to pensions, fixed costs, revenue volatility and capital needs.”

Detroit is not fiscally prepared to handle a recession of similar magnitude to 2008, according to an analysis from Moody's, a public finance group.

10/22/2019

A financial plan can help you accomplish your life goals. We all want to have more money, but money is not the goal, it's just the tool.

Do you want to save for your children's education? Do you want to retire early?

These are life goals, but they require a financial plan to achieve them.

08/28/2019

Another recession would be bad news for millennials, but it won’t “destroy” them. Millennials will still have time on their side to recover before retirement. This will be detrimental to those in their late 40s to mid-50s. These are the individuals who can’t afford another recession before retirement and are likely unprepared.

Millennials are already in debt and without savings. After the next downturn, they’ll be in even bigger trouble.

08/22/2019

No two people are the same, which is especially true when planning for retirement. That’s why we take an in-depth, goal-oriented approach when discussing your retirement needs. We understand that, as you grow in life, things around you are constantly changing. We want to make sure you live your life with certainty that no matter what the future holds, you will be prepared.

Michigan financial advisors for investment planning, business, charitable strategies, retirement, insurance, pension buyout, estate and wealth management.

08/13/2019

As pensions quickly start disappearing, Baby Boomers are the first generation who has needed to plan their own retirement. Working past the traditional retirement age is becoming more and more common for employees. Some individuals aren't planning to retire at all.

Make sure you have a financial plan in place in order to manage and secure your financial future.

Contact:
- 586-713-5307
- [email protected]
- www.betcherfg.com

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07/26/2019

Passionate about making a difference in the lives of individuals and families. Educating clients is a crucial component to the planning process. Get educated on how to prepare and protect for your financial future.

Contact:
(p) 586-713-5307
(e) [email protected]

06/24/2019

Retiring at age 65 could leave you with 25 to 30 years in retirement. The average retiree will likely outlive their assets during this time. Running out of money during these years won't equate to a much enjoyable retirement. Get educated on your assets long before retirement to ensure your money lasts as long as you do.

Contact:
- (586) 713-5307
- [email protected]

Running out of money during retirement is a real possibility for most people.

06/17/2019

From baby boomers to millennials, many are far behind in saving for retirement. Don't make the mistake of waiting to fund a nest egg. Get educated on the best tools for saving and investing.

Contact:
- (586) 713-5307
- [email protected]

A new survey from Natixis Investment Managers reveals just how much workers are falling short when it comes to their retirement savings.