The non-farm payrolls number for July released last Friday will dominate discussions about the economy over the next few weeks. Not only was the 187,000 jobs-created figure modestly below expectations, but the Bureau of Labor Statistics reached all the way back to May to make downward revisions in the employment totals, bolstering a view that the US economy is gradually slowing in a manner that will assist the Fed in its fight against inflation. U.S. equities experienced a notable decline last week, with the S&P 500 Index declining 2.26%, marking its most severe weekly downturn since March 2023. In local currency terms, the European STOXX Europe 600 Index ended 2.44% lower. The market volatility was likely driven by a combination of macro events. On the wealth planning front, we discuss strategies to fund higher education as college tuition continues to rise.