November 4, 2024 Investor Insights

Gas Prices and Elections

November 4, 2024

Enjoy this week's "Investor Insights," a weekly newsletter that highlights the financial news you need and provides tips and tricks for making better investment decisions. 

• US gas prices have dropped 13% in the last six months, but the current average of $3.15 per gallon is the highest before any presidential election since 2012. 1
• With fertility rates at historic lows, raising two children and sending them to college now costs $832,000. Affordability is a major reason 36% of Americans under 50 don’t have children. College tuition has increased 748% since 1963. 2
• The Social Security Administration announced a 2.5% cost-of-living increase in social security benefits for 2025, the smallest increase in four years. The average monthly retiree benefit is now $1,976, up $49 from 2024. 1
• Gold prices hit $2,750 on Friday, up 33% this year, marking its best annual gain since 1979. This significantly outperformed the S&P 500’s 22% return. *3

Sources:

1. MFS - "Beyond the News"
2. Visual Capitalist - "Visualizing the Cost of the American Dream in 2024"
3. Barrons - "Gold Mining Stocks Are a Bargain. Here’s How to Buy In."

*Past performance is not indicative of future performance

Disclosure: This information is furnished for the use of Glen Eagle Advisors, LLC, Glen Eagle Wealth, LLC, and their clients and/or contacts. It does not constitute the provision of investment advice to any person. It is not prepared with respect to the specific objectives, financial situation, or particular needs of any specific person. Investors reading this commentary should consult with their Glen Eagle representative/financial advisor regarding the appropriateness of investing in any securities or adapting any investment strategies discussed or recommended in this newsletter. 

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