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In this episode of the Planned Solutions Incorporated Podcast, The number of new coronavirus cases in the US appears to be showing a third wave of cases that exceeds the highs from the April and July peaks. However, on closer examination, there appears to be little signs of states experiencing a second wave much less a third wave. Instead, the national data shows that the US hot spots have migrated from region to region and state to state. States that have experienced high peaks are doing a good job controlling the virus while those that did not previously see high infection rates are struggling now. Also, The US economy rebounded 33.1% at an annualized rate in the third quarter. However, US economic output is still 2.7% below the level reported for the fourth quarter of 2019. The strongest growth areas were consumer purchases of goods and private investment. Trade detracted from growth as well as government spending which decreased following a strong increase in the second quarter. And, Social Security benefits will be increasing in 2021. However, the amount of the increase will be a fairly low 1.3% due to low inflation rates which determine the Cost of Living Adjustment (COLA) that is implemented. Meanwhile, the amount that high-income employees pay in Social Security taxes will also increase in 2021 as the Social Security wage base will increase 3.7% to $142,800. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- A number of clients have been asking when our office will be open again. While some of us have been going into the office sporadically our office is still closed for client meetings. Currently, Sacramento County is in the Red tier meaning the Coronavirus threat is still substantial. While this is an improvement from the widespread rating it still requires that some non-essential indoor business operations remain closed. Businesses such as Planned Solutions fall within this category. At this time we really have no idea of when Sacramento Country may move from the Substantial tier to the Moderate tier which may allow us to reopen depending on the exact criteria for reopening that the County requires. While we understand that many clients would prefer to meet in our office, we will continue to take an abundance of caution. We are very concerned about the health of our clients and team members and feel that the cost/benefit analysis favors remaining closed until we can be confident that the risk is low enough to justify in-person meetings. Until then we will continue to operate via phone or Zoom. Chase Armer's book- Financial Planning Insights is now available at: https://store.bookbaby.com/book/financial-planning-insights https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279/ref=sr_1_1?dchild=1&keywords=chase+armer&qid=1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc. ADDRESS: PHONE: 1130 Iron Point Road, Suite 170 (916) 361-0100 Folsom, CA 95630 (800) 750-2111 E-MAIL: FAX: Shannon@PlannedSolutions.com (916) 361-0191 WEB SITE: www.PlannedSolutions.com #finance #invest #investment #stocks #inflation #deflation #bonds