Economic Updates & Financial Articles
- Weekly Economic Update - 12/4/2023
Financial Articles:
- What If Your Kids Decide Against College? - 12/4/2023
- Find That Lost Retirement Account - 12/4/2023
- Financial Strategies for Women - 11/27/2023
- Making a Charitable Gift - 11/27/2023
- Should I Accept a Free Credit Lock? - 11/20/2023
- The Lowdown on Those Free Credit Scores - 11/13/2023
- Keep Your Umbrella Handy - 11/13/2023
- A Brief Guide To Condo Insurance - 11/6/2023
- Intellectual Property and Your Estate - 10/30/2023
- Reviewing Your Life Insurance Needs - 10/30/2023
- Estate Strategies of the Rich and Famous - 10/23/2023
- A Penny Saved is Two Pennies Earned - 10/16/2023
- A Bucket Plan to Go with Your Bucket List - 10/9/2023
- 9 Facts About Retirement - 10/9/2023
- Navigating Retirement Pitfalls - 9/25/2023
- Year-End Charitable Gifting and You - 9/25/2023
- 3 Estate Challenges for Blended Families - 9/18/2023
- Inventorying Your Possessions - 9/18/2023
- AI Tools Changing Retiree Entrepreneurship - 9/11/2023
- Deciding When to Take Social Security - 7/10/2023
Weekly Economic Update for 12/4/2023
THE WEEK ON WALL STREET
A Friday rally turned an otherwise mixed week for stocks into a solid performance.
The Dow Jones Industrial Average picked up 2.42%, while the Standard & Poor’s 500 gained 0.77%. The Nasdaq Composite index rose 0.38% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, ended marginally higher by 0.13%.1,2,3
What If Your Kids Decide Against College?
As a parent or grandparent, you may have diligently saved money in a 529 account to help fund your child's or grandchild's college education. But what happens if they decide college isn't the right path for them? It's a valid question that many families are facing as more and more people choose alternatives to traditional four-year colleges.
It's a more common situation than you might think. Fewer students are going to college, and the expenses continue to climb. American undergraduate enrollment rates peaked in 2010 and have steadily declined since. During the same period, college costs have risen over 12 percent.1,2,3,4
A 529 plan is a college savings plan that allows individuals to save for college on a tax-advantaged basis. The state tax treatment of 529 accounts is only one factor to consider before committing to this savings plan. You should also consider any fees and expenses associated with a particular plan. Whether or not a state tax deduction is available will depend on your state of residence. State tax laws and treatment may vary, and state tax laws may differ from federal tax laws. Earnings on nonqualified distributions will be subject to income tax and a 10 percent federal penalty tax.
Find That Lost Retirement Account
Do you have a long-lost retirement account left with a former employer? Maybe it’s been so long that you can’t even remember. With over 24 million “forgotten” 401(k) accounts holding roughly $1.35 trillion in assets, even the most organized professional may be surprised to learn that they have unclaimed “found” money.1
Weekly Economic Update for 11/27/2023
THE WEEK ON WALL STREET
Investor enthusiasm for stocks remained strong last week, buoyed by declining bond yields in a holiday-abbreviated trading week.
The Dow Jones Industrial Average picked up 1.27%, while the Standard & Poor’s 500 gained 1.00%. The Nasdaq Composite index rose 0.89% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, was flat (+0.03%).1,2,3
Financial Strategies for Women
Nearly 60% of women take sole responsibility for making investment decisions, yet only 19% of women feel very confident in their ability to fully retire with a comfortable lifestyle.1,2
Although more women are providing for their families, when it comes to preparing for retirement, they may be leaving their future to chance.
"Female investors thrive and often outperform their male counterparts."
Making a Charitable Gift
Why sell shares when you can gift them? If you have appreciated stocks in your portfolio, you might want to consider donating those shares to charity rather than selling them.
Donating appreciated securities to a tax-qualified charity may allow you to manage your taxes and benefit the charity. If you have held the stock for more than a year, you may be able to deduct from your taxes the fair market value of the stock in the year that you donate. If the charity is tax-exempt, it may not face capital gains tax on the stock if it sells it in the future.1
Keep in mind this article is for informational purposes only. It's not a replacement for real-life advice. Make sure to consult your tax and legal professionals before modifying your gift-giving strategy.
Weekly Economic Update for 11/20/2023
THE WEEK ON WALL STREET
Stocks extended their November rally last week as investors cheered lower-than-forecast inflation data.
The Dow Jones Industrial Average gained 1.94%, while the Standard & Poor’s 500 added 2.24%. The Nasdaq Composite index rose 2.37% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, increased 3.36%.1,2,3
Should I Accept a Free Credit Lock?
In today's increasingly connected world, protecting your information is arguably more important than ever. Your credit report consists of a slew of personal details, such as your financial activity, credit accounts, loans, and payment history. Because of the importance of your credit report, credit bureaus such as Equifax, Experian, and TransUnion offer credit locks to help protect consumers in the event of identity theft or fraud.
Weekly Economic Update for 11/13/2023
THE WEEK ON WALL STREET
A powerful Friday rally left stocks higher last week, extending the market’s early November gains.
The Dow Jones Industrial Average rose 0.65%, while the Standard & Poor’s 500 advanced 1.31%. The Nasdaq Composite index jumped 2.37% higher for the week. The MSCI EAFE index, which tracks developed overseas stock markets, edged 0.25% higher.1,2,3
The Lowdown on Those Free Credit Scores
The Fair and Accurate Credit Transaction Act of 2003 provided individuals with valuable rights to the credit information companies keep on them, but did you know that the credit score provided to you may be different than the one provided to lenders?
The first thing you should know is that you have a right to see your credit report once annually without cost. You can find free credit reports online. The report will contain important information that may affect your credit score.
While your credit report can be obtained for free, your credit score will cost you money, except in the case where you have been denied a loan on the basis of your credit score, in which case you may obtain your credit score for free. However, many banks and lenders are now providing their customers with free monthly credit score updates.
Keep Your Umbrella Handy
In 2021, the U.S. had a record 24.5 million millionaires, up from 20.2 million in the previous year. An increase in personal wealth may bring greater financial flexibility; it may also bring greater liability. Individuals with high net worth, or those who are perceived to have high net worth, may be more likely to be sued. And personal injury claims can cost millions.1
Umbrella liability insurance is designed to put an extra layer of protection between your assets and a potential lawsuit. It provides coverage over and above existing automobile and homeowners insurance limits.
For example, imagine your teenage son borrows your car and gets in an accident, seriously injuring the other driver. The accident results in a lawsuit and a $1 million judgment against you. If your car insurance policy has a liability limit of $500,000, that much should be covered. If you have additional umbrella liability coverage, your policy can be designed to kick in and cover the rest. Without umbrella coverage, you may be responsible for paying out of pocket for the other $500,000, which could mean liquidating assets, losing the equity in your home, or even having your wages garnished.
Weekly Economic Update for 11/6/2023
THE WEEK ON WALL STREET
Stocks ripped higher last week on a dramatic retreat in bond yields triggered by easing inflation and a slowing labor market.
The Dow Jones Industrial Average jumped 5.07%, while the Standard & Poor’s 500 surged 5.85%. The Nasdaq Composite index rocketed 6.61% higher for the week. The MSCI EAFE index, which tracks developed overseas stock markets, gained 3.12%.1,2,3
A Brief Guide To Condo Insurance
The ownership structure of a condominium unit is different from that of a single family house. Here’s what you need to know when purchasing insurance for your condo.1
Weekly Economic Update for 10/30/2023
THE WEEK ON WALL STREET
Amid a busy week of corporate earnings reports, stocks slumped on cautious earnings guidance, fears of higher interest rates, and growing anxiety over the increasing amount of Treasury bonds and notes coming to market.
The Dow Jones Industrial Average dropped 1.88%, while the Standard & Poor’s 500 declined 3.29%. But the Nasdaq Composite index gave up 4.48% for the five trading days. The MSCI EAFE index, which tracks developed overseas stock markets, retreated 1.82%.1,2,3
Intellectual Property and Your Estate
Among the many considerations to ponder when forming your estate strategy, intellectual property (IP) is among the more important and misunderstood. The phrase itself may be somewhat confusing, as people may not know whether it applies to them or their assets. To clear things up, let's start by defining what exactly is meant by intellectual property.
IP embraces four distinct areas of consideration: patents, trademarks, copyrights, and trade secrets. Let's look at each of these in a little more detail:
Reviewing Your Life Insurance Needs
Life is an ever-evolving journey marked by significant milestones, personal growth, and unexpected changes. As life unfolds, your financial and insurance needs also shift, changing from year to year, decade to decade. A good example of this is life insurance. If you have a life insurance policy that you haven't reviewed recently, it may no longer align with your current needs. That is why reviewing your life insurance periodically may be a good approach.
Several factors affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy is surrendered prematurely, the policyholder may also pay surrender charges and face income tax implications. You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.
Weekly Economic Update for 10/23/2023
THE WEEK ON WALL STREET
Rising bond yields and uncertainty over whether this was the close of the Fed’s rate-hike cycle dragged markets lower last week despite solid corporate earnings results.
The Dow Jones Industrial Average sank 1.61%, while the Standard & Poor’s 500 fell 2.39%. The Nasdaq Composite index, which has led for much of the year, slumped 3.16%. The MSCI EAFE index, which tracks developed overseas stock markets, retreated 1.67%.1,2,3
Estate Strategies of the Rich and Famous
Famous people are all too human. Tabloid newspapers and celebrity magazines and websites make bank chronicling their every moment, from going out for a coffee to attending glamorous premieres and glitzy concerts. And, yes, whenever they make a mistake, those same outlets bring it to your phones and tablets in real time.
Sometimes these “oops” moments follow our celebrities long after they’ve taken their final bows, as their heirs and other interested parties battle over their estates. You might think that these stars, with their giant entourages, must have trusted financial professionals in their lives, assisting them in creating estate strategies–but in many cases, you would be wrong. Whether it’s because they have misconceptions about estate strategy or because they passed unexpectedly, these celebs have seen their legacies turn into games of tug-of-war.
Weekly Economic Update for 10/16/2023
THE WEEK ON WALL STREET
Stocks ended mixed last week amid the outbreak of hostilities in the Middle East and higher-than-expected inflation data.
The Dow Jones Industrial Average gained 0.20%, while the Standard & Poor’s 500 rose 0.45%. But the Nasdaq Composite index slipped 0.18% for the five trading days. The MSCI EAFE index, which tracks developed overseas stock markets, advanced 2.37%.1,2,3
A Penny Saved is Two Pennies Earned
The famous saying from Poor Richard’s Almanack is frequently misquoted. It was published by founder Benjamin Franklin in 1737: “A penny saved is two pence clear.” Finding ways to manage expenses is one of the cornerstones of a sound financial strategy.
Here are some simple and inexpensive energy-saving tips that may help you save money.
Weekly Economic Update for 10/9/2023
THE WEEK ON WALL STREET
A Friday rally overcame a shaky week, sending stocks mostly higher.
The Dow Jones Industrial Average slipped 0.30% for the week. Meanwhile, the Standard & Poor’s 500 gained 0.48%, and the Nasdaq Composite index added 1.60% for the five trading days. The MSCI EAFE index, which tracks developed overseas stock markets, fell 2.37%.1,2,3
A Bucket Plan to Go with Your Bucket List
John and Mary are nearing retirement and they have a lot of items on their bucket list. Longer life expectancies mean John and Mary may need to prepare for two or even three decades of retirement. How should they position their money?1
One approach is to segment your expenses into three buckets:
9 Facts About Retirement
Retirement can have many meanings. For some, it will be a time to travel and spend time with family members. For others, it will be a time to start a new business or begin a charitable endeavor. Regardless of what approach you intend to take, here are nine things about retirement that might surprise you.
Weekly Economic Update for 10/2/2023
THE WEEK ON WALL STREET
Rising bond yields and government shutdown fears left stocks in mostly negative territory for the week.
The Dow Jones Industrial Average lost 1.34%, while the Standard & Poor’s 500 slipped 0.74%. The Nasdaq Composite index was flat (+0.06%) for the week. The MSCI EAFE index, which tracks developed overseas stock markets, fell 1.95%.1,2,3
Weekly Economic Update for 9/25/2023
THE WEEK ON WALL STREET
Rising bond yields and fears of a government shutdown hammered stocks last week, with technology shares bearing the brunt of the retreat.
The Dow Jones Industrial Average lost 1.89%, while the Standard & Poor’s 500 dropped 2.93%. The Nasdaq Composite index tumbled 3.62% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, fell 1.77%.1,2,3
Navigating Retirement Pitfalls
Much is written about the classic financial mistakes that plague start-ups, family businesses, corporations, and charities. Some classic financial missteps have been known to plague retirees, too.
Calling them "missteps" may be a bit harsh, as not all of them represent errors in judgment. Either way, becoming aware of these potential pitfalls may help you to avoid falling into them in the future.
Managing Social Security. Social Security benefits are structured to rise about 8% for every year you delay receiving them after your full retirement age. Is waiting a few years to apply for benefits an idea you might consider? Filing for your monthly benefits before you reach your full retirement age can mean comparatively smaller monthly payments.1
Year-End Charitable Gifting and You
Are you making charitable donations at year's end? If so, you should know about some of the financial "fine print" involved, as the right moves could potentially bring more of a benefit to both you and your chosen charity.
Keep in mind, this article is for informational purposes only and is not a replacement for real-life advice. Make sure to consult your tax, legal, or accounting professionals before modifying your charitable gifting strategy.
Weekly Economic Update for 9/18/2023
THE WEEK ON WALL STREET
Stocks ended the week roughly where they began as investors digested a mixed set of new economic data.
The Dow Jones Industrial Average gained 0.12%, while the Standard & Poor’s 500 slipped 0.16%. The Nasdaq Composite index fell 0.39% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, added 1.23%.1,2,3
3 Estate Challenges for Blended Families
Preparing your estate can be complicated, and if you're a part of a blended family, estate decisions can be even more complex and nuanced. Blended families take on many forms but typically consist of couples with children from previous relationships. Here are a few case studies to help illustrate some of the challenges.
Inventorying Your Possessions
Only four in ten Americans have a home inventory, despite the fact that 3.4 million Americans were displaced by natural disasters in 2022.1,2
It’s great to have insurance against damage and loss, but if you can't show proof of your possessions, it may result in a protracted settlement process with your insurance company.
Weekly Economic Update for 9/11/2023
THE WEEK ON WALL STREET
Concerns that the Fed may raise interest rates soured investor sentiment, sending stocks lower in a holiday-shortened trading week.
The Dow Jones Industrial Average slipped 0.75%, while the Standard & Poor’s 500 declined 1.29%. The Nasdaq Composite index dropped 1.93% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, lost 1.28%.1,2,3
AI Tools Changing Retiree Entrepreneurship
Artificial intelligence (AI) tools have become a game changer in various industries, and they are also proving incredibly useful for retirees looking to start consulting or a small business venture. These tools can simplify tasks, streamline processes, and help retirees navigate the world of entrepreneurship more efficiently.1,2,3
One of the biggest challenges retirees may face when starting a business is writing tasks. Writing can be difficult and tedious for some, but AI tools can help alleviate this burden. AI-powered writing assistants can generate content, proofread, and even suggest improvements. These tools use advanced algorithms to analyze text and offer better sentence structure, grammar, and vocabulary. Retirees can rely on these tools to produce high-quality written content without spending hours perfecting it themselves.
Weekly Economic Update for 9/4/2023
THE WEEK ON WALL STREET
Falling bond yields–spurred by weak economic data–helped lift stocks to weekly gains.
The Dow Jones Industrial Average advanced 1.43%, while the Standard & Poor’s 500 gained 2.50%. The Nasdaq Composite index increased 3.25% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, picked up 2.71%.1,2,3
Weekly Economic Update for 8/28/2023
THE WEEK ON WALL STREET
Stocks fluctuated last week, jostled by fitful bond yields and headline news, before ending strongly following Fed Chair Powell’s comments on the monetary outlook.
The Dow Jones Industrial Average slipped 0.45%, while the Standard & Poor’s 500 gained 0.82%. The Nasdaq Composite index rose 2.26% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, added 0.78%.1,2,3
Weekly Economic Update for 8/21/2023
THE WEEK ON WALL STREET
Stocks extended their August declines last week as higher yields and weak economic data out of China soured investor sentiment.
The Dow Jones Industrial Average lost 2.21%, while the Standard & Poor’s 500 retreated 2.11%. The Nasdaq Composite index backtracked 2.59% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, slumped 2.83%.1,2,3
Weekly Economic Update for 8/14/2023
THE WEEK ON WALL STREET
Positive inflation data failed to lift stocks from their August doldrums last week as economic data and a ratings downgrade soured investor sentiment.
The Dow Jones Industrial Average added 0.62%, while the Standard & Poor’s 500 slipped 0.31%. The Nasdaq Composite index fell 1.90% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, rose 0.50%.1,2,3
Weekly Economic Update for 8/7/2023
THE WEEK ON WALL STREET
Stocks retreated last week as bond yields increased following the Treasury's announcement indicating “a larger-than-expected funding need” and a downgrade in the federal government’s debt rating.
The Dow Jones Industrial Average dropped 1.11%, while the Standard & Poor’s 500 shed 2.27%. The Nasdaq Composite index lost 2.85% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, tumbled 3.27%.1,2,3
Weekly Economic Update for 7/31/2023
THE WEEK ON WALL STREET
A Friday surge pushed stocks solidly into positive territory last week, ignited by cooling in an inflation gauge closely tracked by the Federal Reserve.
The Dow Jones Industrial Average advanced 0.66%, while the Standard & Poor’s 500 climbed 1.01%. The Nasdaq Composite index rose 2.02% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, gained 0.74%.1,2,3
Weekly Economic Update for 7/24/2023
THE WEEK ON WALL STREET
Stocks moved to the rhythm of earnings season last week, initially rising on positive earnings surprises and faltering later in the week on key earnings disappointments.
The Dow Jones Industrial Average rose 2.08%, while the Standard & Poor’s 500 added 0.69%. The Nasdaq Composite Index slumped 0.57% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, slipped 0.32%.1,2,3
Weekly Economic Update for 7/17/2023
THE WEEK ON WALL STREET
Better-than-expected updates last week on consumer and wholesale price inflation buoyed investor sentiment, driving stocks higher and lower bond
yields.
The Dow Jones Industrial Average rose 2.29%, while the Standard & Poor’s 500 increased 2.42%. The Nasdaq Composite index advanced 3.32% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, gained 4.67%.1,2,3
Weekly Economic Update for 7/10/2023
THE WEEK ON WALL STREET
Rising concerns about further rate hikes sent stocks lower to kick off the second half of trading.
The Dow Jones Industrial Average lost 1.96%, while the Standard & Poor’s 500 retreated 1.16%. The Nasdaq Composite index surrendered 0.92% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, tumbled 2.57%.1,2,3
Deciding When to Take Social Security
One of the most common questions people ask about Social Security is when they should start taking benefits. Making the right decision for you can have a meaningful impact on your financial income in retirement.
Before considering how personal circumstances and objectives may play into your decision, it may be helpful to preface that discussion with an illustration of how benefits may differ based upon the age at which you commence taking Social Security.
Weekly Economic Update for 7/3/2023
THE WEEK ON WALL STREET
Stocks posted gains for the week to close out a stellar month, aided by positive economic data and reports that all major banks had passed the Federal Reserve’s annual stress test.
The Dow Jones Industrial Average gained 2.02%, while the Standard & Poor’s 500 rose 2.35%. The Nasdaq Composite index added 2.19%. The MSCI EAFE index, which tracks developed overseas stock markets, increased by 0.76%.1,2,3
Have you met our team?
We have a wealth of experience in the financial services industry.
