Inflation’s Impact On Households, Businesses, And Government

Planned Solutions

In this episode of the Planned Solutions Incorporated Podcast, As high inflation continues to impact households and businesses, the different segments of the economy are pointing fingers at each other. Households blame government policy for overstimulating the economy last Spring, the government blames businesses for price gouging, and businesses blame households citing the low labor force participation rate that is putting upward pressure on wages. The trust is that each segment of the economy will need to do its part to bring down the rate of inflation. Also, Proponents of virtual currencies have made arguments that these assets would take on the role of other assets, such as gold. The assertion is that virtual currencies would be considered safe assets that increase in value when financial markets are in turmoil and would also serve as a good hedge against inflation. However, the large decline in the value of virtual currencies this year appears to be disproving these arguments. And, Donor Advised Funds (DAF) are valuable tax planning tools which allows individuals to set money aside to donate to charity in the future, while claiming the tax deduction in the year the contribution to the DAF is made. However, too often individuals forget about these funds after the tax deduction is claimed. It is important to have an investment and giving strategy for these accounts in order to manage the money and distribute the funds overtime to selected charities. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Chase and Daryl attended the Financial Planning Association of Northern California meeting in May to learn about Wallet Activism. The presentation focused on ways that individuals can use their money to create the environmental, social, and governance changes that they would like to see in the world. Despite the sharp decrease in the COVID numbers, cases continue to be prevalent with two of Planned Solutions’ households being hit this month. We plan to keep the office open as most people have had the chance to be vaccinated and in general the symptoms have been mild. Any infected employees will work from home to avoid further spread, but there is always the risk that someone may be infected and not yet be showing symptoms. We bring this up to make sure our clients are informed when deciding whether to meet in office or over the phone or Zoom. Please mark your calendars if you will be able to attend. Date: Friday, September 9th, 2022 Location: Rancho Murieta Country Club – South Course 7000 Alameda Drive ancho Murieta, CA 95683 Time: 12:30 pm shotgun start with a dinner to follow All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [e-mail] The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc. ADDRESS: PHONE: 1130 Iron Point Road, Suite 170 [phone] Folsom, CA 95630 [phone] E-MAIL: FAX: [e-mail] [phone] WEB SITE: www.PlannedSolutions.com