Personal Finance

PERSONAL FINANCE/JOHN NINFO: Some frequently asked questions

We have talked about the shortage of truckers, and the resulting supply chain issues — but from my perspective, there are seemingly as many trucks on the road in Western and parts of Central New York as there were before the pandemic. I travel to schools all over the area, down south into Horseheads and Elmira in the Southern Tier, west to Fredonia, and east past Ithaca to Spencer-Van Etten. In those travels, at all times of the day, sometimes starting as early as 5:30 a.m., there are plenty of trucks slowing me down on the Thruway, interstates, and back roads. It makes me wonder if the shortage is, in fact, regional.

John Ninfo

On a different subject, in my CARE Financial Literacy presentations, when we talk about the need to save, I tell the students that the largest increase in individual bankruptcies pre-pandemic was people 65 and older. In part it was because many of them did not save enough for retirement, and they were still addicted to living above their means with credit cards. That is why I am a little concerned after hearing a recent report that the rate of retirements post-pandemic is three times higher than pre-pandemic. It is certainly something that I will continue to track and perhaps report on.

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