By The Numbers - November 2018Submitted by S. F. Ehrlich Associates, Inc. on November 15th, 2018
Source: Direxion Funds
November, 15 2018
- A greater percentage of Millennials have all of their pre-tax retirement money invested in cash and bonds (20%) than those that have all of their pre-tax retirement money invested in stocks (19%). 2,593 Millennials (ages 20-36 in 2017) were surveyed in the 4th quarter 2017.
- 47 investment bankers worldwide received jail time as a result of the 2008 global recession, including 25 bankers from Iceland. Just 1 American investment banker went to prison, receiving a 30-month sentence for “fraudulently inflating” the prices of mortgage-backed securities.
- 618 US employers surveyed in the 1st quarter 2018 anticipate offering a starting base salary of $65,000 to college graduates with a bachelor’s degree, $85,000 to workers coming “direct-from-industry” and $105,000 to MBA graduates.
- 53% of 2,638 widows surveyed in the 3rd quarter 2018 admit that they and their deceased husbands had no financial plan in place in the event that either spouse died.
- Life expectancy at birth varies by as much as 20 years depending upon the county where you are born in the United States.
- The size of the US bond market is $42 trillion. The size of the US stock market is $32 trillion. The size of the US economy is $20 trillion. The size of the Chinese economy is $12 trillion.
- 59% of “working age” Americans (defined as adults between the ages of 21-64) have not accumulated assets in any retirement account – defined benefit pension plan, defined contribution plan (e.g., 401(k) plan) or an IRA.
- Projections published by the Federal Reserve following its 6/13/18 meeting suggested they would initiate 2 more rate hikes in 2018 and 3 more rate hikes in 2019. The first of the 2 rate hikes during the remainder of 2018 was announced last Wednesday 9/26/18. There are 2 scheduled Fed meetings remaining in 2018 – November 7-8 and finally on December 18-19.
- The median rent today for a 1-bedroom apartment in San Francisco is $3,400. The median rent today for a 1-bedroom apartment in Omaha, NE is $825. The median rent today for a 1-bedroom apartment in Charlotte, NC is $1,275.
- A 65-year old American male in 2018 is expected to live another 19.2 years (to 84.2 years old), an increase of 5 years in the last 40 years. A 65-year old American female in 2018 is expected to live another 21.6 years (to 86.6 years old), an increase of 3 years in the last 40 years.
- In 2011, 1 of 3 American homeowners (34%), owned their homes free and clear of any debt, i.e., no mortgage loan or line of credit. In 2017, 2 of 5 American homeowners (40%) owned their homes free and clear of any debt.
- The federal estate tax exemption is $11.18 million per individual for 2018 deaths, i.e., a married couple would be able to shelter $22.36 million from federal estate and gift taxes. The amount is more than double the exemption from 2017 due to changes from the “Tax Cuts and Jobs Act” legislation.
- In spite of tumbling 20.5% on the single trading day of 10/19/87 (31 years ago this week), the S&P 500 gained +5.3% (total return) for the entire 1987 calendar year.
- The top 1% of Americans ranked by their dollar usage of health care represent 22.8% of total health care expenditures.