Economic Updates & Financial Articles

Economic Updates & Financial Articles

Economic Updates:

Retirement in Sight Newsletter:

Financial Articles:

 


Weekly Economic Update for 1/30/2023

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THE WEEK ON WALL STREET

Stocks added to their early 2023 gains amid a busy stream of mixed corporate earnings results and conflicting economic data.

The Dow Jones Industrial Average gained 1.81%, while the Standard & Poor’s 500 added 2.47%. The Nasdaq Composite index rose 4.32% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, increased by 1.14%.1,2,3

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Weekly Economic Update for 1/23/2023

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THE WEEK ON WALL STREET

Stocks showed mixed results last week as recession fears resurfaced in response to weak economic data and a tepid start to a new corporate earnings season.

The Dow Jones Industrial Average skidded 2.70%, while the Standard & Poor’s 500 declined 0.66%. But the Nasdaq Composite index gained 0.55% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, lost 0.50%.1,2,3

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Weekly Economic Update for 1/16/2023

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THE WEEK ON WALL STREET

Stocks rallied last week thanks to fresh confirmation of inflation’s cooling trend and growing optimism that an inflation slowdown may provide the Fed with space to ease up on future rate hikes.

The Dow Jones Industrial Average gained 2.00%, while the Standard & Poor’s 500 advanced 2.67%. The Nasdaq Composite index surged 4.82% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, jumped 3.32%.1,2,3

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Weekly Economic Update for 1/9/2023

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THE WEEK ON WALL STREET

A strong Friday rally triggered by fresh signs of moderating inflation pushed stocks into positive territory to begin the new year.

The Dow Jones Industrial Average rose 1.46%, while the Standard & Poor’s 500 advanced 1.45%. The Nasdaq Composite index gained 0.98%. The MSCI EAFE index, which tracks developed overseas stock markets, added 0.90% higher.1,2,3

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Retirement In Sight for January, 2023

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SHOULD YOU SAVE FOR RETIREMENT, COLLEGE, OR BOTH?    

As some Gen Xers watch their kids grow up, they wonder if college should take priority over retirement. If you happen to be thinking along these lines, there are reasons you may want to think twice. 

More than 90% of American families see college as “an investment in their future.” However, you don’t necessarily have to choose between your retirement strategy or helping your kids finance college.1

There is no “financial aid” program for retirement. There are no “retirement loans.” As important as your children are to you, they have their whole financial lives ahead of them. If you have to focus on either providing for yourself or for your children, it’s wise to put yourself first.

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Monthly Economic Update January, 2023

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U.S. Markets

Stocks were under pressure in December on renewed recession fears and concerns that the Fed may keep rates higher than markets anticipated.

The Dow Jones Industrial Average lost 4.17 percent for the month, while the Standard & Poor’s 500 Index fell 5.90 percent. The tech-heavy Nasdaq composite dropped 8.73 percent.1

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Quarterly Economic Update for 4Q 2022

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THE QUARTER IN BRIEF

The fourth quarter managed to repair some of the damage inflicted on stocks since the beginning of the year. Investor sentiment for much of the quarter rose due to a stronger-than-expected earnings season, a deceleration in inflation, and an increasing conviction that the Fed may begin scaling back on the pace of interest rate hikes. The mood, however, soured in December as recession fears were rekindled by continuing Fed hawkishness and weak economic data, sending stocks lower and paring some of the quarter's accumulated gains.

October began on a volatile note, as stocks soared in response to Britain's incoming prime minister's reversal of an earlier decision to cut taxes, a decision that had sent global markets lower at the end of September. This was soon followed by an extraordinary day in U.S. markets. An above-consensus inflation report sent stocks tumbling in early trading to levels not seen since 2020 before mounting a massive turnaround that by day's end had witnessed the Dow Jones Industrial Average surging 1,500 points from its midday low.1

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Weekly Economic Update for 1/3/2023

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THE WEEK ON WALL STREET

In a holiday-shortened week, erratic trading left stocks marginally down for the week.

The Dow Jones Industrial Average lost 0.17%, while the Standard & Poor’s 500 slipped 0.14%. The Nasdaq Composite index fell 0.30%. The MSCI EAFE index, which tracks developed overseas stock markets, edged 0.61% higher.1,2,3

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Weekly Economic Update for 12/19/2022

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THE WEEK ON WALL STREET

Hawkish comments by the Fed and weak economic data heightened investors’ recession concerns and sent stocks lower last week.

The Dow Jones Industrial Average lost 1.66%, while the Standard & Poor’s 500 retreated 2.08%. The Nasdaq Composite index declined 2.72% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, slipped 0.88%.1,2,3

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Weekly Economic Update for 12/12/2022

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THE WEEK ON WALL STREET

Recession fears and concerns that the Fed may consider a longer rate-hike cycle sent stocks lower for the week.

The Dow Jones Industrial Average dropped 2.77%, while the Standard & Poor’s 500 fell 3.37%. The Nasdaq Composite index lost 3.99% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, dipped 1.09%.1,2,3

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Weekly Economic Update for 12/5/2022

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THE WEEK ON WALL STREET

Stocks ended higher last week as investors navigated the crosscurrents of a potential easing in future rate hikes and continued strength in the labor market.

The Dow Jones Industrial Average edged 0.24% higher, while the Standard & Poor’s 500 gained 1.13%. The Nasdaq Composite index improved by 2.09% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, rose 1.68%.1,2,3

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Monthly Economic Update for December, 2022

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U.S. Markets

Stocks surged higher in November on rising optimism that the Fed would slow down future interest rate hikes.

The Dow Jones Industrial Average gained 5.67 percent, while the Standard & Poor’s 500 Index picked up 5.38 percent. The tech-heavy Nasdaq Composite rose 4.37 percent.1

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Weekly Economic Update for 11/28/2022

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THE WEEK ON WALL STREET

Growing optimism that the Fed may be ready to ease future interest rate hikes sent stocks higher in a quiet trading week.

The Dow Jones Industrial Average gained 1.78%, while the Standard & Poor’s 500 added 1.53%. The Nasdaq Composite index improved 0.72% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, advanced 2.33%.1,2,3

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Weekly Economic Update for 11/21/2022

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THE WEEK ON WALL STREET

The stock market edged lower last week as it digested a crosscurrent of conflicting economic data and contrasting comments from Fed officials.

The Dow Jones Industrial Average was flat (-0.01%), while the Standard & Poor’s 500 declined by 0.69%. The Nasdaq Composite index lost 1.57% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, fell 0.88%.1,2,3

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Retirement In Sight for November, 2022

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DO YOU UNDERSTAND THE SOCIAL SECURITY "EARNINGS PENALTY?"   

If you keep working or return to work after receiving Social Security benefits, your benefits may seem reduced, perhaps if your annual income exceeds a certain threshold. This phenomenon is known as the Social Security "earnings penalty."

The "earnings penalty" can potentially affect you if you are younger than Social Security's full retirement age (FRA), which ranges between 66 and 67 for baby boomers.

Before you reach your FRA, Social Security will deduct $1 from your benefit payments for every $2 you earn above its yearly earnings limit. For 2022, that limit is $19,560. Similarly, Social Security deducts $1 in benefits for every $3 you earn above another threshold in the year you reach your FRA. For 2022, this limit is $51,960. (Both of these limits get adjusted for inflation.)

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Weekly Economic Update for 11/14/2022

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THE WEEK ON WALL STREET

A cooling inflation number ignited a powerful rally on Thursday, sending stocks to strong gains for the week.

The Dow Jones Industrial Average gained 4.15%, while the Standard & Poor’s 500 added 5.90%. The Nasdaq Composite index rose 8.10% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, picked up 5.72%.1,2,3

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Weekly Economic Update for 11/7/2022

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THE WEEK ON WALL STREET

Hawkish comments by Fed Chair Jerome Powell, following the announcement of another 75 basis points interest rate hike last week, cast a pall over financial markets, sending yields higher and stocks lower.

The Dow Jones Industrial Average slipped 1.40%, while the Standard & Poor’s 500 declined 3.35%. The Nasdaq Composite index lost 5.65% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, fell 1.04%.1,2,3

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Monthly Economic Update for November, 2022

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U.S. Markets

Stocks posted big gains in October, propelled by better-than-expected corporate reports.

The Dow Jones Industrial Average led, gaining 13.95 percent. The Standard & Poor’s 500 Index tacked on 7.99 percent, while the Nasdaq Composite added 3.90 percent.1

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Weekly Economic Update for 10/31/2022

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THE WEEK ON WALL STREET

Stocks overcame poor earnings results from some of America’s largest companies to post gains last week as investors cheered positive earnings surprises, easing inflation and a rebound in economic growth.

The Dow Jones Industrial Average rose 5.72%, while the Standard & Poor’s 500 advanced 3.95%. The Nasdaq Composite index added 2.24% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, gained 4.89%.1,2,3

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New Retirement Contribution Limits for 2023

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The Internal Revenue Service has released new limits for the coming year. After months of high inflation and financial uncertainty, some of these cost-of-living-based adjustments have reached near-record levels.

Individual Retirement Accounts (IRAs). IRA contribution limits are up $500 in 2023 to $6,500. Catch-up contributions for those over age 50 remain at $1,000, bringing the total limit to $7,500.

Roth IRAs. The income phase-out range for Roth IRA contributions increases to $138,000-$153,000 for single filers and heads of household, a $9,000 increase. For married couples filing jointly, phase-out will be $218,000 to $228,000, a $14,000 increase. Married individuals filing separately see their phase-out range remain at $0-10,000.

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Weekly Economic Update for 10/24/2022

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THE WEEK ON WALL STREET

A positive start to a new earnings season and late-week hopes for a near-term easing in Fed rate hikes lifted investors’ spirits and powered stocks to gains for the week.

The Dow Jones Industrial Average jumped 4.89%, while the Standard & Poor’s 500 advanced 4.74%. The Nasdaq Composite index added 5.22% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, gained 1.66%.1,2,3

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Weekly Economic Update for 10/17/2022

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THE WEEK ON WALL STREET

Stocks were mixed last week amid wide intra- and inter-day price swings, as technology shares bore the brunt of the downdraft.

The Dow Jones Industrial Average gained 1.15% for the week. Meanwhile, the Standard & Poor’s 500 slipped 1.55%, and the Nasdaq Composite index dropped 3.11%. The MSCI EAFE index, which tracks developed overseas stock markets, lost 2.48%.1,2,3

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Weekly Economic Update for 10/10/2022

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THE WEEK ON WALL STREET

A powerful two-day stock rebound cemented a positive week for investors as a new trading month began.

The Dow Jones Industrial Average rose 1.99%, while the Standard & Poor’s 500 added 1.51%. The Nasdaq Composite index increased 0.73% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, gained 3.42%.1,2,3

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Quarterly Economic Update for Q3 2022

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U.S. Markets

Stocks took investors on a roller coaster ride in the third quarter, with an early summer rally coming to an abrupt end after the Fed pledged to continue fighting inflation.

The Dow Jones Industrial Average dropped 6.65 percent during the quarter. The Standard & Poor’s (S&P) 500 Index fell 5.28 percent, while the Nasdaq Composite lost 4.11 percent.1

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Monthly Economic Update for October, 2022

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U.S. Markets

Stocks trended lower in September as investors retreated in the face of rising bond yields and growing recession fears.

The Dow Jones Industrial Average dropped 8.84 percent, while the Standard & Poor’s 500 Index fell 7.95 percent. The Nasdaq Composite lost 9.13 percent.1

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Weekly Economic Update for 10/3/2022

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THE WEEK ON WALL STREET

Rising recession fears and uncertainty in the bond and currency markets sent stocks to new 2022 lows last week.

The Dow Jones Industrial Average declined 2.92%, while the Standard & Poor’s 500 slumped 2.91%. The Nasdaq Composite index fell 2.69%. The MSCI EAFE index, which tracks developed overseas stock markets, lost 1.94%.1,2,3

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End-Of-The-Year Money Moves - 2022

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What has changed for you in 2022? This year has been as complicated as learning a new dance for some. Did you start a new job or leave a job behind? That's one step. Did you remarry? There's another step. Did you retire? That's practically a pirouette. If notable changes occurred in your personal or professional life, you might want to review your finances before this year ends and 2023 begins. Proving that you have all the right moves in 2022 might put you in a better position to tango with 2023.

Even if your 2022 has been relatively uneventful, the end of the year is still an excellent time to get cracking and see where you can manage your overall personal finances. 

Keep in mind that this article is for informational purposes and is not a replacement for real-life advice. Please consult your tax, legal, and accounting professionals before modifying your tax strategy.

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Should We Reconsider What "Retirement" Means?

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An executive transitions into a consulting role at age 62 and stops working altogether at 65; then, he becomes a buyer for a church network at 69. A corporate IT professional concludes her career at age 58; she serves as a city council member in her sixties, then opens an art studio at 70.

Are these people retired? Not by the old definition of the word. Our definition of “retirement” is changing. Retirement is now a time of activity and opportunity.

Generations ago, Americans never retired – at least not voluntarily. American life was either agrarian or industrialized and formalized retirement was not something they would have recognized. Their “social security” was their children. 

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Managing Probate When Setting Up Your Estate

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The probate process can be expensive for some estates. Settling an estate through probate can cost you both time and money. It could take up to a year for the estate to be settled, plus attorney’s fees, appraiser’s fees, and court costs may eat up as much as 5% of a decedent’s assets. Probating an estate valued at $400,000 could cost as much as $20,000.1

What can you do to help your heirs have as smooth of a transition process as possible? There are a few steps that may help you along the way:

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Weekly Economic Update for 9/26/2022

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THE WEEK ON WALL STREET

Last week, Fed Chair Powell said the U.S. would not tame inflation without economic pain. This week heightened recession fears and sent stocks broadly lower.

The Dow Jones Industrial Average dropped 4.00%, while the Standard & Poor’s 500 lost 4.65%. The Nasdaq Composite index fell 5.07% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, declined 3.05%.1,2,3

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Weekly Economic Update for 9/19/2022

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THE WEEK ON WALL STREET

A hotter-than-expected inflation report sent stocks sharply lower last week as investors faced the prospect of more aggressive interest rate hikes by the Federal Reserve for perhaps a longer period.

The Dow Jones Industrial Average fell 4.13%, while the Standard & Poor’s 500 lost 4.77%. The Nasdaq Composite index dropped 5.48% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, dipped 1.78%.1,2,3

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Annual Financial To-Do List

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What financial, business, or life priorities do you need to address for the coming year? Now is an excellent time to think about the investing, saving, or budgeting methods you could employ toward specific objectives, from building your retirement fund to managing your taxes. You have plenty of choices.

Remember that this article is for informational purposes only and not a replacement for real-life advice. The tax treatment of assets earmarked for retirement can change, and there is no guarantee that the tax landscape will remain the same in years ahead. A financial or tax professional can provide up-to-date guidance.

Here are a few ideas to consider:

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Weekly Economic Update for 9/12/2022

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THE WEEK ON WALL STREET

In a holiday-shortened week of trading, stocks posted healthy gains despite more tough talk on monetary policy from Fed officials.

The Dow Jones Industrial Average rose 2.66%, while the Standard & Poor’s 500 gained 3.65%. The Nasdaq Composite index picked up 4.14% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, lost 1.26%.1,2,3

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Monthly Economic Update for September, 2022

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U.S. Markets

Renewed fears of higher rates and economic weakening, coupled with a tough talk by Fed Chair Jerome Powell and other Fed officials, sent stocks lower in August.

The Dow Jones Industrial Average dropped 4.06 percent whereas the Standard & Poor’s 500 Index fell 4.24 percent. The Nasdaq Composite lost 4.64 percent.1

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Retirement In Sight for September, 2022

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CAN YOU DETERMINE YOUR IDEAL RETIREMENT INCOME BY FORMULA?  

Perhaps you could do so in a simpler financial world – but as retirement comes with financial complexities, a purely formulaic approach may fall short. There are basic calculations that may give you a “ballpark figure” for what your initial retirement income might be and your “ideal” retirement income. Still, they may not account for certain factors that might prompt you to spend more (or less) in a particular year.

Take inflation. 2022 has seen the highest inflation in 40 years. But not all retirement expenses may increase by that amount in a year. Some medical, travel, and leisure expenses have outpaced inflation. Another factor that makes “retirement by formula” difficult is Social Security. Some people file for Social Security earlier than anticipated due to health reasons or changes. When Social Security income enters the picture earlier (or later) than first assumed, that may prompt a revision to retirement income projections. MarketWatch notes that 50% of working men claim Social Security at age 62, and almost 70% of seniors start receiving Social Security benefits before Social Security’s full retirement age (66 or 67, depending on your birthdate). Your retirement spending needs (both core and discretionary) are a major focus of your retirement strategy, and those needs help determine your “ideal” income.1

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Weekly Economic Update for 9/5/2022

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THE WEEK ON WALL STREET

The overhang of Fed Chair Powell’s Jackson Hole speech the previous week carried over into last week as investors recalibrated stock valuations amid a seemingly more assertive monetary policy stance.

The Dow Jones Industrial Average fell 2.99%, while the Standard & Poor’s 500 stumbled 3.29%. The Nasdaq Composite index lost 4.21%. The MSCI EAFE index, which tracks developed overseas stock markets, slid 4.90%.1,2,3

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Should You Prepare to Retire on 80% of Your Income?

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A classic retirement preparation rule states that you should retire on 80% of the income you earned in your last year of work. Is this old axiom still true, or does it need reconsidering?

Some new research suggests that retirees may not need that much annual income to keep up their standard of living.

The 80% rule is really just a guideline. It refers to 80% of a retiree’s final yearly gross income, rather than his or her net pay. The difference between gross income and wages after withholdings and taxes is significant to say the least.1

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5 Retirement Concerns Too Often Overlooked

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Retirement is undeniably a major life and financial transition. Even so, baby boomers can run the risk of growing nonchalant about some of the financial challenges that retirement poses, for not all are immediately obvious. In looking forward to their “second acts,” boomers may overlook a few matters that a thorough retirement strategy needs to address.

RMDs. The Internal Revenue Service directs seniors to withdraw money from qualified retirement accounts after age 72. This class of accounts includes traditional IRAs and employer-sponsored retirement plans. These drawdowns are officially termed Required Minimum Distributions (RMDs).1   

Taxes. Speaking of RMDs, the income from an RMD is fully taxable and cannot be rolled over into a Roth IRA. The income is certainly a plus, but it may also send a retiree into a higher income tax bracket for the year.1

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Weekly Economic Update for 8/29/2022

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THE WEEK ON WALL STREET

A comprehensive sell-off on Friday following comments by Fed Chair Jerome Powell drove stocks to losses for the week.

The Dow Jones Industrial Average tumbled 4.22%, while the Standard & Poor’s 500 dropped 4.04%. The Nasdaq Composite index fell 4.44% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, lost 1.10%.1,2,3

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Weekly Economic Update for 8/22/2022

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THE WEEK ON WALL STREET

Stocks tumbled on Friday, sending stocks to a weekly loss after an otherwise quiet August week of trading.

The Dow Jones Industrial Average slipped -0.16%, while the Standard & Poor’s 500 lost 1.21%. The Nasdaq Composite index declined 2.62% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, fell 0.88%.1,2,3

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Weekly Economic Update for 8/15/2022

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THE WEEK ON WALL STREET

An improving inflation outlook buoyed investors’ spirits last week, helping lift stocks to solid gains.

The Dow Jones Industrial Average advanced 2.92%, while the Standard & Poor’s 500 rose 3.26%. The Nasdaq Composite index added 3.08% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, gained 2.39%.1,2,3

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Weekly Economic Update for 8/8/2022

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THE WEEK ON WALL STREET

Stocks turned in a mixed performance last week as investors struggled with headlines suggesting that the Fed was unlikely to soon ease up on its current monetary tightening policy.

The Dow Jones Industrial Average slipped 0.13%, while the Standard & Poor’s 500 rose 0.36%. The Nasdaq Composite index picked up 2.15% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, gained 0.23%.1,2,3

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Monthly Economic Update for August, 2022

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U.S. Markets

Stocks posted big numbers in July, erasing some of their first-half losses. Investor sentiment was lifted by receding inflation and recession worries and a better-than-expected start to the second quarter earnings season.

The Dow Jones Industrial Average gained 6.73 percent, while the Standard & Poor’s 500 Index rose 9.11 percent. The Nasdaq Composite led, picking up 12.35 percent.1

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Weekly Economic Update for 8/1/2022

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THE WEEK ON WALL STREET

Undaunted by another Fed rate hike and news of a contracting economy, the stock market rallied last week on better-than-expected corporate earnings.

The Dow Jones Industrial Average increased 2.97%, while the Standard & Poor’s 500 picked up 4.26%. The Nasdaq Composite index gained 4.70% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, rose 0.95%.1,2,3

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Weekly Economic Update for 7/25/2022

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THE WEEK ON WALL STREET

Stocks rallied last week as investor spirits lifted thanks to a better-than-expected start to the second-quarter earnings season.

The Dow Jones Industrial Average gained 1.95%, while the Standard & Poor’s 500 added 2.55%. The Nasdaq Composite index jumped 3.33% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, advanced 3.54%.1,2,3

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Required Minimum Distributions 101

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If you are approaching your seventies, get ready for required minimum distributions. You may soon have to take RMDs, as they are called, from one or more of your retirement accounts.

You can now take some RMDs a bit later in life, which is good. Recent rule changes give your invested savings a little more time to potentially grow in your retirement savings vehicles before that first required drawdown.

What account types require RMDs? Any retirement plan sponsored by an employer, plus traditional Individual Retirement Arrangements (IRAs) and IRA-based retirement plans, such as SIMPLE IRAs and Simplified Employee Pension plans (SEPs). Original owners of Roth IRAs do not have to take RMDs.1

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What Happens When There Are No Beneficiaries

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Some accounts have no designated beneficiary. Rarely, the same thing occurs with insurance policies. This is usually an oversight. In exceptional circumstances, it is a choice. What happens to these accounts and policies when the original owner dies?

The investment or insurance firm gets the first chance to determine what happens. On many retirement plans, for example, a spouse is often the default beneficiary, even if not named on a beneficiary form. If the deceased has no spouse, then the plan assets may just become part of that person’s estate. Brokerage accounts without any designated beneficiaries are also poised to become part of the estate of the decedent. The next stop for these assets could be probate.1

The state may end up deciding where the assets go when beneficiary forms are blank. If the deceased failed to name account or policy beneficiaries but had a valid will or other valid estate documents, this will influence the path from here – but it may not exempt the assets from probate court.

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Weekly Economic Update for 7/18/2022

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THE WEEK ON WALL STREET

A record-high inflation report, the prospects of a more aggressive Fed, and growing recession fears sent stocks lower– though a Friday rally pared losses.

The Dow Jones Industrial Average slipped 0.16%, while the Standard & Poor’s 500 lost 0.93%. The Nasdaq Composite index dropped 1.57% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, lost 3.49%.1,2,3

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Weekly Economic Update for 7/11/2022

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THE WEEK ON WALL STREET

In a holiday-shortened trading week, stocks rallied despite mixed economic data and vacillating energy prices and bond yields.

The Dow Jones Industrial Average increased 0.77%, while the Standard & Poor’s 500 rose 1.94%. The Nasdaq Composite index picked up 4.56% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, edged 0.46% higher.1,2,3

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Getting Disability Income

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If you cannot work due to a disability, you might be eligible for Social Security Disability Income (SSDI). These federal government payments could offer you a degree of financial relief.1

Most SSDI recipients get paid between $700-1,400 per month. This year, the average monthly SSDI benefit for an individual is $1,358. Your monthly benefit could range from $100 to $3,345 based primarily on your earnings history. Roughly speaking, the greater your average annual earnings (in terms of taxable income), the greater your SSDI benefit.1,2 

Suppose you have previously spent some time out of the workforce, had jobs in which you did not pay Social Security taxes, or lived in a household receiving other government benefits. In that case, this can also affect SSDI payment amounts.1,2

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Monthly Economic Update for July, 2022

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U.S. Markets

Stock prices were lower in June as recession talk prompted investors to manage risk in their portfolios.

The Dow Jones Industrial Average lost 6.71 percent, while the Standard & Poor’s 500 Index fell 8.39 percent. The tech-heavy Nasdaq Composite dropped 8.71 percent.1

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Quarterly Economic Update for 2Q-2022

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THE QUARTER IN BRIEF

Stocks dropped in the second quarter, with the pressure beginning in April, as the Standard & Poor’s 500 index (-8.8%) and the NASDAQ Composite (-13.3%) experienced monthly losses to start the quarter.1

Investors were unnerved by comments from Fed officials about the pace and magnitude of potential rate hikes and by inflation, which showed little sign of abating. For instance, March’s Consumer Price Index rose 8.5%--the fastest pace since December 1981, while the Producer Price Index–an indicator of potential future costs–climbed 11.2% year-over-year, a new all-time high.2

Tightening monetary policy and rising inflation sent bond yields sharply higher, with the 10-year Treasury Note yield rallying from 2.32% at March-end to 2.89% by the end of April.3

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Weekly Economic Update for 7/4/2022

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THE WEEK ON WALL STREET

Stocks turned lower as a quiet news week offered investors little fresh visibility into the market overhangs of economic slowdown and inflation.

The Dow Jones Industrial Average dipped 1.28%, while the Standard & Poor’s 500 fell 2.21%. The Nasdaq Composite index dropped 4.13%. The MSCI EAFE index, which tracks developed overseas stock markets, lost 1.49%.1,2,3

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