Mobile Deposit | Supply Chain Delays | College Savings

Mobile Deposit with TD: You may already be using TD’s AdvisorClient.com platform to access your accounts. But did you know they also offer a mobile app that allows you to access your balances and positions in real time? There are many other features with the best arguably being their mobile check deposit—no more wait time for snail mail for physical checks. It’s simple and convenient. Download the app today or call our office for more information.

Asia Lockdown = Supply Shortage: A recent surge of Covid-19 cases in Southeast Asia has locked down plants, ports and processors resulting in extended disruption to the supply chain for raw materials. The result of the Malaysia lockdown disrupts palm oil production, raising prices of candy bars, shampoo and biofuels. The global tin supply has been hit by Covid-19 related interruptions delaying the production of everything from computer chips to circuit boards in electronics. And Vietnam is the 2nd largest producer of coffee beans. Continued lockdowns will continue to disrupt the global supply chain.

Saving for a Rainy Day: In recent years, there has been a tremendous increase of stockpiled cash, sitting in accounts yielding very little return—currently the average savings account is at 0.06%. At that rate of return, it will take 1,200 years to see your money double. See the chart? There is nearly $10 trillion being held in traditional savings accounts, while the stock market holds $50 trillion. So, it’s a meaningful amount. But, what’s the answer? The path is different for everyone. Let’s discuss if you want to investigate how to better manage your liquid funds.

College Poor?: As every student nears their senior year, the inevitable question is “Where are you going to college?” For every parent, though, the question about how to fund that began popping up much earlier. As colleges find themselves in the first few weeks of the semester, it is reported that parents find themselves paying a larger percentage of their children’s higher education costs, even as tuition prices dropped during the pandemic. Through a combination of saving, borrowing and using a portion of each paycheck, parents are purportedly footing 54% of the bill. If you are interested in setting up a 529 with zero management fees, contact your Compass Ion advisor today.

Real Estate Steal of the Week: As we continue to monitor the housing market, it appears that prices are beginning to level out a bit. Builders are able to more easily access needed materials. We even stumbled across this gem at the low price of $1.5 million. A nearly 22,000-square-foot English castle with 21-bedrooms hit the market this week. Located in Otterburn (north England) the recorded history of the property dates back to the 11th century and sits on 32 acres of land. A great deal but a tough commute westbound.