Puerto Rico’s default could ripple through average Americans’ portfolios
Breakfast with Benjamin: Puerto Rico has missed a debt payment. How will the fallout be felt by average Americans?
- Puerto Rico has missed a debt payment, marking a major setback for the U.S. commonwealth. The next step is to look at how the fallout could be felt by average Americans. Half of U.S. open-end muni bond funds are exposed to Puerto Rican debt
- Emerging market currencies have been racing toward the floor for a month. The Hungarian forint separates from the pack
- There are lots of ways to determine how much somebody should save for retirement, so don’t get caught trusting one calculation. Is part-time employment an option in retirement?
- The good news for Social Security recipients is that the latest data show the system won’t run out of money until 2034, as opposed to the earlier estimate of 2033. That’s the only good news
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