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Stocks posted their best week of the year, sparked by news that the dovish Fed decided to keep rates steady and signaled three rate cuts were still possible this year.

Suppose your financial objectives include income and leaving a legacy for your heirs. In that case, it’s essential to work with a financial professional familiar with your many options, including older tools.

The American Council of Life Insurers recently reported that average coverage equals $197,000, which is equivalent to almost 3.5 years in terms of income replacement (with the median income being $59,540 in 2024, according to the Bureau of Labor Statistics).

Stocks were down for the week as investors appeared to take some profits and traders parsed Fed Chair Jerome Powell’s Congressional testimony.

One study estimates the average cost of raising a child to the age of 17 for a middle-income family is about $310,605.