Creating a financial plan is often compared to building a house. You decide on the size of the rooms (your goals), the materials (your investments), and the timeline for completion. However, even the most architecturally sound house can be compromised if the ground beneath it shifts. In the world of finance, that “ground” is the economy.
Economic forces are the external variables that dictate the purchasing power of your currency, the growth of your savings, and the stability of your income. To build a resilient financial future, one must look beyond personal habits and understand the macro-level shifts that dictate global markets. Here is a deep dive into the major economic forces currently shaping financial planning.
The Persistent Grip of Inflation
Inflation is perhaps the most well-known economic force, yet its long-term impact is frequently underestimated. Simply put, inflation is the rate at which the general level of prices for … Read more
HSBC Holdings Plc (HSBA.L) has agreed to pay about $2 million to settle a civil fraud lawsuit that alleged the financial institution improperly attempted to get reimbursement from the federally backed U.S. Small Business Administration (SBA) on bad loans it knew have been based mostly on fraudulent or potentially fraudulent information.