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So far Perspective Financial Services has created 213 blog entries.

Recession News (Sort of)

recession newsAre we in a recession? It depends on who you ask. Recession news can be complicated, especially in 2022.

The most common definition of a recession is two consecutive quarters of negative growth. The economy met that bar after the most recent report on gross domestic product (GDP), which showed the economy shrank in the first half of 2022.

Still, we won’t know whether we’re actually in a recession for several more months. Why? The official arbiter of recessions is the National Bureau of Economic Research (NBER), and its recession criteria depends on more data than GDP. To formally declare a recession, the NBER looks for a significant and widespread decline in economic activity that goes on for a while.

2022 Recession News

We may very well be in a recession. However, a mixed bag of positive and negative economic factors makes it weird and hazy.

On the positive side: The labor market remains strong, still creating plenty of new jobs. Consumer and business investment also is looking sturdy.

On the negative side: Inflation is obviously on everyone’s radar, as is the Fed’s latest interest rate hike.

Whether we’re officially in a recession or not, the economy is flashing some undeniable warning signs. Despite recent gains, we can expect more market volatility. That’s the cyclical nature of the economy and investment markets. Ups and downs are normal.

The best thing we can do is have faith in our proven investment strategy, stick to our written financial plans, and ride out the current storm.

Photo by Andrea Piacquadio via
By |2022-08-23T12:55:47-07:00August 31st, 2022|Current Affairs, Investing|

When to Waive Health Care Privacy

when to waive health care privacyMost adults are familiar with the HIPAA documents we’re asked to read and sign at doctor offices and hospitals. The Health Insurance Portability and Accountability Act was passed in 1996 to set standards for protecting personal health information. That’s important. We all value and deserve privacy. Yet, it’s important to know when to waive health care privacy.

When to Waive Health Care Privacy

In estate planning documents like health care powers of attorney, living wills, and advance health care directives, it’s a good idea to waive your HIPPA rights. Doing so allows physicians and other health care professionals to share medical information with your designated representative so that informed health care decisions can be made on your behalf. Without HIPAA authorizations in these documents, doctors may be unwilling to discuss medical information. That could delay decision-making regarding care and end-of-life wishes.

Children who may have recently turned 18 years of age should also sign a HIPPA waiver granting parents access to their health care information in the event of an emergency.

Now is a good time to take stock of your family’s health care powers of attorney and related documents to ensure the best care possible for yourself and the people you love.

Photo by Pixabay
By |2022-07-29T09:33:52-07:00August 15th, 2022|Estate Planning, Health Care|

Lupe Camargo Honored for Community Service

Lupe Camargo Honored for Community ServiceLupe Camargo honored for community service and contributions to Girl Scouts Arizona Cactus Pine Council.

Our team is dedicated to continuing their professional education and serving their community. That’s life with Perspective. Most often, their efforts take place quietly and behind the scenes, despite the enormous amount of time and energy expended. Sometimes they receive unexpected praise, and when they do we’re are thrilled to share the news.

In July, Lupe received Honorable Mention in the 16th Annual Invest in Others (IiO) Awards. The IiO Awards recognize the charitable work of financial advisors in communities across the country and around the world. It receives hundreds of nominations each year.

Lupe has supported the local council in many capacities for more than a dozen years, including as a parent, troop leader, long-time board member, and currently, as board chair.

Lupe Camargo Honored for Community Service“Lupe’s leadership contributions, distinctive service to the nonprofit, and impact on her community speak to the heart of the Community Service Award,” wrote Rose Cross, Assistant Director of Programs for the Invest in Others Charitable Foundation. “We are excited to share that Girl Scouts Arizona Cactus Pine Council will receive a $1,750 donation in recognition of her charitable work.”

Lupe Camargo Honored for Community Service
By |2022-07-29T11:52:03-07:00August 2nd, 2022|Advisors, Company News|

High School Grads and Money Skills

high school grads and money skillsWhat do you wish you were taught in high school about money and finances? When it comes to high school grads and money skills, what do you believe is important for today’s teens to learn?

A new poll from the National Endowment for Financial Education® (NEFE) sheds light on what U.S. adults believe are key topics that should be taught in schools.

About 88 percent said their state should require a semester- or year-long financial education course for graduation;  and 80 percent said they wish they had been required to take such a course in high school. Roughly 75 percent said spending and budgeting is the most important financial education topic to teach, followed by managing credit (55 percent), saving (49 percent), and earning income (47 percent).

“Americans overwhelmingly recognize the importance of learning money skills at an early age and this poll reinforces there is demonstrated national support for personal finance to be a part of learning in all schools,” said Billy Hensley, president and CEO of NEFE.

If you’d like to offer a recent graduate in your life a boost in their personal finance education, your financial planner is happy to help. Talk to your advisor about high school grads and money skills.

By |2022-06-06T15:34:56-07:00June 8th, 2022|Current Affairs|