Navigating student loans, inheritance, pet insurance: Wealth!
On today's episode of Wealth!, Alexandra Canal breaks down key stories impacting your personal finances, from student loan forgiveness to inflation's impact on pet insurance. US Vice President Kamala Harris has begun her campaign to be the Democratic nominee for the 2024 presidential election after President Biden exited the race. Many questions surround her policies and how she may frame her campaign, but one of the biggest is who she will choose as a running mate,. Yahoo Finance Senior Columnist Rick Newman breaks it down. Many voters are also questioning the future of student loan forgiveness Jennifer Finetti, ScholarshipOwl's Director of Student Advocacy, is cautious about assuming Harris will adopt the exact same approach to relief as the Biden Administration. Over $38 trillion will be transferred from older generations to millennials and Gen Z, according to data from NOYACK and Cerulli Associates. NOYACK Wealth Club founder CJ Follini discusses what to focus on when receiving an inheritance, explaining, "So first thing is, what is your why? Why are you doing these things? Do you have life goals, do you have goals of planning for a retirement? Do you have a family that you want to provide for their future wealth and their future generally? Are you just thinking about the numbers of portfolio wealth building? Well, that's diversification, which for me is the beginning of every single discussion when it comes to personal wealth management." Multiple fast-food chains have rolled out value meals and value items to their menus as incentives to get customers back into their restaurants, including McDonald's (MCD), which is extending the stay of its $5 meal deal. Yahoo Finance senior reporter Brooke DiPalma joins Wealth! to discuss how fast-food companies are utilizing value meal strategies and whether or not they are truly helping, or possibly hurting, their bottom lines. As of 2024, 66% of US households, or 86.9 million homes, own a pet, with almost 45% of those pets being dogs, according to data from American Veterinary Medical Association. Yet, according to the North American Pet Insurance Association, only 2.8% of them have health insurance. Spot Pet Insurance CEO Trey Ferro explains why inflation hasn't hurt the business of pet insurance: "People are understanding that pets are expensive. Vet health care has increased in price higher than the national inflation rate. There's not that many vets coming out of veterinary school anymore. People are very cautious of these vet care needs and they're expecting more from their vets. People are now expecting child-like care for their family members." For more expert insight and the latest market action, click here. This post was written by Melanie Riehl
