The Morning Business Report is sponsored by Access Health CT Small Business.
(WFSB) – The average age of vehicles in the U.S. hits an all-time high.
Plus, one-third of Americans plan to retire later due to COVID-19.
Here’s the Morning Business Report for June 15.
Retirement goals
The COVID-19 pandemic has hurt some Americans’ confidence that they can meet their retirement goal date on time.
Among those feeling the most negative effects are women and pre-retirees.
Even so, many Americans say the pandemic was a financial wake-up call that prompted them to rethink how they plan for their futures.
The study from Age Wave and Edward Jones finds that about one out of every three Americans who are planning to retire now say that will happen later due to COVID.
Verizon discount
As a part of the ongoing effort to get as many people in this country vaccinated against COVID-19 as possible, Verizon is joining in with a 10 percent off discount.
Anyone who has received a COVID-19 vaccine can grab a 10 percent off code that works on any accessory, including many that are already discounted.
Vehicle age
The average age of vehicles on the road in the U.S. has topped 12 years old for the first time, according to IHS Markit.
The report reflects a continuation of a long-running trend of vehicles staying on the road longer, because of the increased durability but also reflecting their higher value.
Prices of cars are going up too and that’s causing people to hold onto their cars longer.
Stock market update
The S&P 500 and Nasdaq hit new records Monday.
Investors don’t seem worried about inflation.
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