Noah here—I'm learning to function on no sleep with baby Judah (getting the hang of it, maybe). Thankfully, the sun’s out, and family get-togethers are giving Jenny and me something to look forward to.
Let's dive into a two-minute look at the economy, an interesting story, and a financial planning secret.
📊 Economy – Jobs Beat Expectations, But Cracks Are Showing
May’s job report came out this morning: the U.S. added 139,000 jobs, better than the 120,000 expected, but a step down from April’s 147,000, suggesting the labor market may be cooling.
Unemployment remains steady at 4.2%, close to historic lows, even as the federal government cut another 22,000 jobs last month, adding to the total of 59,000 cut since January. Despite the mixed data, stocks are still strong. Treasury yields are rising, a sign that investors expect the Fed to keep rates higher for longer.
🌍 Interesting Stories – Elon vs. Trump: A Very Public Breakup
Tesla’s stock took a hit this week amid a very public rift between Elon Musk and President Trump. Musk criticized Trump’s tax bill and spending plan, prompting Trump to threaten the cancellation of federal contracts with Musk’s companies.
Musk fired back, calling for impeachment and alleging that Trump is implicated in the unreleased “Epstein files.” The feud is escalating, and investors are taking note. Whether this is political theater or the start of regulatory roadblocks, the fallout could reshape the future of Musk’s companies.
💡Financial Planning Secret – Social Security Timing Isn’t Just Math
When to take Social Security is about more than just maximizing your check. Yes, waiting can increase your benefit by roughly 8% per year past full retirement age, but the best choice depends on your overall plan. As a Spokane financial advisor, I look beyond the math. Your health, life expectancy, RMDs, spouse’s benefit, and other income sources all play a role.
To talk with a Spokane financial advisor, schedule a no-cost, no-commitment discovery call today.
About the Author
Noah Schwab CFP® is a financial advisor in Spokane, Washington, specializing in helping retirees with 401k Roth conversion strategies.
- Fiduciary. No commission, no insurance products
- Offering investment management and financial planning
