US Economy Grows In First Quarter Consumer Sentiment Rebounds Term Insurance Conversion Features

Published: May 11, 2023, 9 a.m.

b"In this episode of the Planned Solutions Incorporated Podcast, The US economy grew just 1.1% in the first quarter, a lower growth rate than the prior two quarters. However, the report had a lot of positives with household spending up 3.7% and government spending increasing 4.7%. Meanwhile, investment expenditures were a drag\\non growth, down 12.5%, likely due to increased interest rates and the uncertainty of the current business environment.\\n\\nAlso, US consumer sentiment is often cited as a leading economic indicator as it tends to change course before the stock market. In 2021 it peaked six months before the US stock market and in 2022 it\\nbottomed four months before the market low. Today, consumer sentiment is signaling support for the current market recovery as the index continues to trend upward at 27% above its low from October\\n\\nAnd, Term life insurance policies are often very cost-effective but do\\ncome with a downside, unlike permanent insurance, that the policy term will end at some point in the future. However, some term policies have features that allow them to be continued, at a higher premium, or converted into a permanent insurance policy, also at a higher premium, for those who need to continue their coverage.\\nHowever, these provisions are often complex and therefore should be considered carefully before making an election\\n\\n\\nPlus a look at the Planned Solutions Incorporated Office Bulletin Board- Last newsletter we expressed our support for the Sacramento Kings who were in the NBA playoffs for the first time in seventeen years. Since then, the Kings lost in the last game of a best of seven series to the defending champions, the Golden State Warriors. Despite the disappointing result, this was a great season to be a Kings fan. After years near the bottom of the standings, the Kings finished third in the Western Conference regular season standings and had a good showing in the playoffs taking the defending champions down to the wire, only falling short in the final game of the series. As special thanks goes out to the Kings coach, Mike Brown, who not only won NBA Coach of the Year but also demonstrated how a change in leadership and a new culture can transform an organization from mediocrity to excellence. We are looking forward to seeing how Coach Brown and his players are able to build on their\\nrecent success next year. \\n\\nChase Armer's book- Financial Planning Insights is now available at:\\nhttps://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb\\n\\nTo subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com\\n\\nThe Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.\\n\\nPlanned Solutions, Inc."