Love It or Leave It Part Deux

2021 Personal Finance Trends in Review

 

Quickly, here are the hot topics of 2021 that are embraceable or dumpable.  Feel free to disagree.  Just not to my face.

 

Love it:

  1. Required Minimum Distribution age moved to 72 permanently. Would love it even more – get rid of RMDs entirely.
  2. High personal savings rate – possibly to be depleted by people quitting their jobs by the millions to do I don’t know what for income.
  3. Credit card debt being paid down on an average national level. Good job using your I-can’t-travel money to pay down high interest debt!

 

Leave it:

  1. Cryptocurrency as an investment. Speculation with a bit of money, sure, but leave your serious capital in companies that actually have a product or service to offer.
  2. Meme stock trading. Ridiculous, and teaches a new generation of investors bad lessons.  No one remembers the dot.com boom and bust, apparently.
  3. Constant advertising for online sports betting. Great… more gambling addicts.

 

 

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Kristi Sullivan

My name is Kristi Sullivan and I have been helping people achieve financial security since 1996. I am a fee-only financial planner and public speaker. I do no investment or insurance sales for commissions. My clients pay me for guidance through their financial questions. I also work with employers to educate their employees about personal finance. I have been helping people make financial decisions for 18 years. I have worked in employee benefits and with individual clients/families. I hold the Certified Financial Planner designation. Sullivan Financial Planning, LLC is a Registered Investment Advisory firm with the State of Colorado. Areas of expertise include prioritizing savings goals, investment allocation, and wealth manager searches.