CBX Daily 1/15/2025

Today, the wine industry is swimming in surplus as younger consumers turn away… But let's start with how early college saving through 529 plans could help set the next generation up to win.

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Why Middle-Class Families Are Doubling Down on 529 College Savings

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Most parents begin saving for college before their child is 10 years old and this could be a future key to closing the racial wealth gap. Only 16% of African American parents are saving for college using a 529 plan, which is like a prepaid tuition program, according to Northwestern Mutual. Even though parents are saving more for college now than ever before, their preparedness could still use improvement, and a solid 529 plan could put their children on the path to success.

Is the Wine Industry Ready for a Health-First Generation?

Vineyards are overflowing, yet the glasses remain half-empty. Still reeling from the pandemic's impact, the wine industry now grapples with an excess supply, putting massive pressure on both grape farmers and small business owners. Between 2017 and 2023, wine consumption has plummeted by 10.5%, specifically among younger generations who are increasingly favoring healthier and more affordable beverages over traditional wines.

College Costs Keep Climbing as Student Stress Hits New Highs

The financial weight of higher education is mentally draining Black Americans with student loan debt. A recent survey conducted by ELVTR, revealed that 54% of respondents said their mental health struggles are directly related to student loan debt. Nearly two-thirds of those polled can barely afford or can’t afford their loan payments at all, with minorities like Black borrowers facing the most debt.  The financial strain, emotional burden and mental distress of student loan debt begs the question, is it all worth it?

The Rise of High-Risk Investing in a Low-Trust Economy

Minority Americans have faced systematic exclusion from a number of American institutions including investment opportunities, though that could be changing. The investment gap between Black and white Americans has recently narrowed, with higher stock market participation among young Black people under 40. In an effort to take back power, interest in investing has grown as this demographic has developed a propensity to take on riskier investments.  

BBLs and Instagram Economics: How Social Media Fuels Medical Tourism

As the cost of healthcare care continues to rise in the U.S., medical tourism, a process of traveling to a different country for procedures is becoming increasingly popular. Pop culture stars like Kim Kardashian West and Nikki Minaj who receive major attention for their shapely physiques have become the modern-day apogee of plastic-surgery normalization. With cost savings of up to 90% for surgical or cosmetic procedures, the medical tourism market is expected to reach more than $200 billion globally by 2027.

Avoid feeling to much “Pressha” today alongside Jill Scott in our CBX Vibes!