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September 9, 2024 Investor Insights Thumbnail

September 9, 2024 Investor Insights

Investor Insights

High Hopes for Inheritance

September 9, 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. 

 

  • 68% of millennials and Gen Z expect to inherit about $320,000. However, 55% of baby boomers planning to leave an inheritance will pass on less than $250,000. Only 1/3 of white families and about 10% of Black families receive any inheritance, and more than half of those inheritances are less than $50,000. 1
  • Historically, September is the worst month for the S&P 500, with an average decline of 0.78% since 1945 and gains only 43% of the time. In election years, the average decline in September is 0.51%, with gains 47% of the time. *2
  • On August 26th, gold hit a record high for the 29th time this year. Since 1976, the only two years that gold has had more record closing highs through August have been 2011 and 1979, with 37 and 32, respectively. *2
  • China’s economic growth has slowed to around 5%, down from a peak of 14% in 2007. President Xi is shifting the economy from infrastructure and real estate to manufacturing and exports, which is affecting Western companies due to increased production capacity and deflation. 3

Sources:

  1. NBC News - "The Great Wealth Transfer has Started - but Millennials, Gen Z May Not Inherit as Much as They Anticipate"
  2. MFS - "Beyond the News"
  3. Barrons - "China’s Troubles Are Hitting Home for U.S. Companies"

*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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