Last month’s inflation report looked encouraging on the surface. Consumer prices dropped from 4.2% to 3.5%, and producer prices came in lower, too. The drop was almost entirely driven by falling oil prices throughout June, thanks to a ceasefire and easing tensions in the Middle East.

As the tensions flare again, we expect to see more volitiliy with these oil and the overall market.

There are also many headlines revolving aroung AI and the Mag 7 stocks, some good and some not. This is another area we are constantly monitering and have protections built into our clients portfolios.

In The News

56% of Americans Have No Estate Plan.

This Wall St article highlights:

·       56% of American adults have no estate planning documents at all.

·       That number is almost unchanged from last year, showing little progress.

·       73% of Americans say estate planning is personally important to them.

·       Will ownership fell to 26% in 2026.

·       Gen X had the biggest planning gap, with 62% having no estate documents.

·       42% of Americans say they would not know what to do if a family member died today.

·       That number rises to 56% among people with no estate planning documents.

·       The five core estate planning documents include a will, trust, medical power of attorney, financial power of attorney, and HIPAA authorization.

·       The article says financial stress and procrastination are major reasons people delay estate planning.

·       The article warns that without a plan, state law and the probate process may control what happens to your assets.

Gen X and Millennials Set to Inherit Historic Wealth — $124 Trillion by 2048

• The first Baby Boomers turned 80 in January 2026 — and Boomer deaths are projected to climb from 2.6 million per year today to 4 million annually by 2037. The Great Wealth Transfer isn’t coming. It’s already started.
• Gen X inherits first — an estimated $14 trillion over the next decade — while Millennials stand to receive $46 trillion by 2048; but 72% of Millennial and Gen Z investors report they don’t believe in traditional investments.

I often say people don’t like to talk about estate planning because no one wants to think about dying. But the reality is we will all leave this earth at some point, and what we leave behind, how we leave it, is very dependent on what we choose to do or not do now. We can choose the legacy we want to live and leave, our values and our wealth.

True estate planning puts YOU in control and ensures YOU choose your beneficiaries. Without proper planning, the IRS may be one of your largest beneficiaries. This is especially true for clients with large IRA balances. However, there are strategies available that greatly reduce taxes for both you and your beneficiaries. If you have questions, give us a call!

And if you don’t have a Power of Attorney in place, you are missing the most important financial document that ensures you always have access to your money.

Just for Fun

Dad Joke of the Week:

What’s the best way to save your dad jokes? In a dadda-base.

This Week in History

·       1776- Delegates sign the Declaration of Independence

·       1861- World’s first weather forecast published

·       1909- General Motors buys Cadillac

·       1949- First commercial jet makes test flight

·       1996- Bombing at Centennial Olympic Park

What Did it Cost? (ounce of silver)

·       1920- $1.03

·       1950- $0.74

·       2000- $5.18

·       2026- $113.95