Here are three things happening in the markets this week.
A trillion little pieces
The federal deficit has grown a lot over the past six months. This should come as no big surprise, given the tax cuts approved by Congress, but it’s still shocking to see the actual numbers from the Treasury Department.
Read the full story on NPR.
What this means for you: Like a family that's maxed out its credit cards, policymakers may have less room to maneuver the next time they're confronted with an actual crisis, as a result of the government's mounting debt load. When (not if) the need arises to borrow money, it will be more expensive. Social Security and Medicare will take the typical hits and cuts to make up for it.
Losing money isn’t fun
For long-term growth, most financial professionals agree that you need a diversified portfolio that includes stocks and bonds. And yet, the average American keeps $32,000 in cash.
Get the whole picture at CNN Money.
What this means for you: Get that cash out of the bank! It’s scary to get into the market initially, but keep a cool head. "Don't panic and liquidate if you're down in a year, because you've got several years to recoup that back," says Derek Green, wealth advisor at Titus Wealth Management. "The best thing to do is to keep dollar-cost averaging and buying. Then when the rebound comes you'll be even better off."
Affordable meds for all
There’s a new dedicated helpline called the Lilly Diabetes Solution Center assisting people who need help paying for their insulin.
Read the Eli Lilly press release for all the details.
What this means for you: If you’re one of the 29 million people in the US living with diabetes, you have some options when it comes to paying for your medicine now. Based on estimates from market research data, more than 400,000 people will benefit from these efforts. Call (833) 808-1234 to see what they can do for you.