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On this episode of the Planned Solutions Financial Review Podcast we discuss, The Federal Reserve. They've held the target for its key interest rate steady in May citing balanced economic risks which included an expected resolution to the US-China trade war. The President responded by threatening to increase tariffs on China causing the trade talks to break down. Is the President pushing for a better deal with China or increasing economic uncertainty in an effort to coax the Fed into lowering interest rates? And, The potential cost of long-term care can be a major risk for many retirees. Some address this risk by creating a plan to fund long-term care expenses from their retirement income or assets while others choose to purchase insurance to reduce their risk. The decision of whether to buy insurance is specific to an individual’s financial situation and should be discussed with a qualified professional. Also,Before sending your children off to college you may want to create the legal documents that will allow a parent to act on the child’s behalf. Once a child reaches age 18 they are an adult according to the law. Therefore, a parent’s ability to help manage their child’s financial and heath care matters may be diminished. However, this risk may be mitigated by creating a financial and health care power of attorney that will give the parent the legal authority to act on their child’s behalf in case of an emergency. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Creating or updating an estate plan can be an easy thing to put off. An estate plan is usually not something that is needed until someone passes away or becomes incapacitated, but it can be a very important part of the efficient management and dispositions of an individual’s financial resources in the future. Unfortunately, no one knows when they may die or become incapacitated so waiting too long to address this financial risk can prove costly. To subscribe or unsubscribe 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 #financial #invest #finance #investment