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September 3, 2024 Investor Insights Thumbnail

September 3, 2024 Investor Insights

Investor Insights

Expensive Kids

September 3, 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. 

 

  • Parents spent 24% of their income on childcare last year, up from 7% in the 1980s. In most of the U.S., childcare now costs more annually than in-state tuition at public universities. 1
  • Since 1980, the cost of a four-year college has jumped nearly 170%, while inflation-adjusted median earnings for bachelor’s degree holders rose just 25%. In 1996, only 31% of parents saw funding a child’s education as their responsibility, but last year, 77% used their income and savings for college costs. 1
  • Global spending on AI and AI-enabled tech is expected to exceed $630 billion by 2028, with a 29% annual growth rate. Top growth areas include augmented claims processing (35.8% growth) and digital commerce (33.2% growth). 2
  • The S&P 500 has hit 38 record highs this year. Despite the pullback in August, stocks are nearing highs again, sparking concerns of a potential correction, as a 10% or greater drop has happened at least once a year since the 1930s. *3

Sources:

  1. Barrons - "The Price of Parenthood Is Growing Prohibitive. That’s Bad News for the Economy."
  2. MFS - "Beyond the News"
  3. WSJ - "Markets' Summer Vacation Is Over"

*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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