The game of life today feels like the game of Monopoly. Our lives feel almost normal again since we just received the “get out of the COVID jail card”. Travel plans are again being scheduled for the next several months and prices are on the rise.
People seem to be playing the real estate game card too by bidding properties up above their asking prices. Many property purchases require cash offers to even be considered. Builders have more work than they can handle but cannot get many products to complete the jobs. Windows are especially difficult to come by. Supply and demand play a big part in this current environment. More demand, less supply equals higher costs.
The Federal Reserve looks like its playing “Twister” as they taper bond purchases and manage interest rates with their eyes on inflation. We are entering a time of robust economic activity and potentially a record GDP for the rest of 2021.
However, you and I are playing the real game of life. Below we added a link to a short video I recently filmed talking about my own brick wall story. Life can come along and just hit you with something unexpected. It is one of the reasons our work as financial planners is so important as we help our clients manage whatever game life has in store?
Have you ever felt like you have hit a brick wall in your life? Judith shares how she has coped with this in the past. You are not alone.
Did You Know?
Judith McGee, L.H.D., CFP®, ChFC®
Executive Vice President and Senior Lead Advisor
Inflationary indicators are front and center this week, with the latest reports on the Consumer Price Index and the Producer Price Index. The CPI increased 0.5% in May and is up 5.0% over the past 12 months. The PPI rose 0.8% in May and has climbed 6.6% since May 2020. If inflationary pressures are indeed transitory, as suggested by the Federal Reserve, then prices should begin to weaken somewhat over the next few months.
Source: Broadridge Investor Communication Solutions, Inc.
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