Pandemic adding to the physical and financial stress facing many Black caregivers
Nationwide Retirement Institute® survey highlights the challenges Black caregivers overcome during COVID-19
News provided by
Share this article
Share this article
COLUMBUS, Ohio, Feb. 11, 2021 /PRNewswire/ While the risk of COVID-19 poses the greatest threat to the elderly, it s also taking a toll on the people they rely on most: their caregivers. This is particularly true in the Black community, where the pandemic presents new sources of stress, both physically and financially.
A new Nationwide Retirement Institute® survey of 313 Black caregivers commissioned in September 2020 reveals the toll the pandemic has taken on those providing care. Many current caregivers are worried that they can t protect their loved one from getting sick (67%) and among all caregivers, more than half feel that they can t take a day off (54%).
Women can close the financial planning gap with help from advisors
By Ann Bair, Senior Vice President, Nationwide Financial Marketing
As someone who has spent the better part of her professional career in financial services, I can attest to how important it is for women to close the financial preparation gap. Unfortunately, the ripple effects of the COVID-19 pandemic made that task more difficult last year.
Today, women are less optimistic, more concerned and less prepared in their financial lives than they’ve been in years, primarily due to the pandemic. But many of us are also feeling more empowered; last year, more women were working with advisors and financial professionals than they were five years ago.
Share this article
Share this article
COLUMBUS, Ohio, Feb. 1, 2021 /PRNewswire/ A new Nationwide Retirement Institute® survey finds 71% of millennial parents currently do not have a will. Of those that do have a will, the COVID-19 pandemic was the second most common reason for creating one (39%), along with having new children (40%) and getting married (38%).
According to the survey of 500 millennial parents (26 to 40 years old) conducted between December 11 – December 15, 2020 by Edelman Data and Intelligence, millennial moms are more likely to indicate having children (47% v. 33%) as their biggest trigger for creating a will, while millennial dads are more likely to point to the COVID-19 pandemic and associated death rates (51% v. 26%) as their main reason for creating a will.
Markets aim to begin 2021 similar to how 2020 ended
Thoughts
Markets are poised to begin 2021 similar to how 2020 ended, with a broad market rally. Last week saw a strong close to the year, with the S&P 500® Index touching its 33rd record close for 2020. The primary drivers of market strength continue to be optimism surrounding the vaccines and the benefits from the latest round of fiscal stimulus. The S&P 500 gained 68% from the March low after losing more than one-third of its value in less than a month, finishing the year with a return of 18.4%, the sixth-best performance in the past 20 years. Notable winners including the NASDAQ (+44.9%), the Russell 1000 Growth Index (+39.5%) and MSCI Emerging Market Index (+18.7%).
By Mark Hackett
The equity market has been remarkably resilient since 2019 even with unprecedented disruption. The S&P 500® Index has returned more than 50% since January of last year despite the expectation for no earnings growth between 2019 and 2021. As a result, the price-to-earnings ratio for the S&P 500® based on earnings over the next twelve months is currently at 22. That’s nearly 40% higher than the average forward P/E of 16 over the past 25 years and near the peak of 24 seen during the late 90s technology bubble.
The chart above frames the stock valuation argument differently. It compares the index value of the S&P 500® to the average hourly earnings for individuals. At the end of November, it would take 146 hours for the average person to make enough to buy a “share” of the S&P 500®. This ratio is double the level seen in 2012 and more than seven times the level of the 1980s, showing the degree to which equity returns have outpaced wage growth.