Daily Reads 6/5/2019
Hi, everyone. It’s mid-week and we’re looking at new data that shows economic growth is at its worst level in three years, thanks to president Trump’s trade war. Hertz announces it will join the growing number of car-subscription services to adjust to this emerging car-culture. We gain insights into what wealthy clients want from their advisors. We learn the biggest mistake parents make with their children’s college funds. And we take a look at the confusing options that may be coming to your 401(k).
Global economic growth is expected to slow to 2.6% this year, the World Bank said in its semi-annual Global Economic Prospects report. Specifically, advanced economies are expected to grow at 1.7%, and emerging-market and developing economies at 4%.
Hertz is now the latest in an increasingly long line of companies piloting car subscription services. The rental car giant announced Tuesday that it is launching a pilot version of a subscription service called “Hertz My Car” in Austin, Texas and Atlanta, Georgia.
According to a new study, advisors who target this business should consider these questions: Does the well-heeled client believe that you are smart and striving to get smarter, that you are very honest and that you are intimately acquainted with the client’s long-term goals?
The average person said they would go $31,000 in the red for their child, the April 2019 survey of more than 1,000 adults found.
Americans may soon see some welcome changes to the rules governing their retirement savings plans, including the ability to contribute to their Individual Retirement Accounts longer or tap them to help pay for the arrival of a new child.