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Market Month: August 2024

Stocks closed mostly higher in August, buoyed by a strong close to the month. Favorable inflation data and economic reports helped drive stocks higher toward the end of the month as investors took heed of Federal Reserve Chair Jerome Powell's statement that it is approaching time to lower interest rates.

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Kids With Special Needs Deserve Benefits. A Trust Protects Them. By Barron's

When her mother wanted to leave Joel a $1 million inheritance, Bamburg made sure the gift wouldn’t compromise his Supplement Security Income and Medicaid benefits. The Jacksonville, Ark., financial advisor set up a trust that his sister, Elise, will manage for Joel after Bamburg dies; it is structured so that any remaining funds will stay in the family after Joel dies.

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Trust: A Financial Advisor's Most Important Asset By Investopedia

Investors increasingly seek investments with low costs and low fees. About 65% of advisors now recommend exchange-traded funds (ETFs) to their clients. But those clients still value high-quality advice on a range of issues related to investing and personal finance.

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Market Month: July 2024

Stocks closed mostly higher in July. Tech shares, including AI stocks, which had been a bellwether for much of the year, retreated in July, dragging the Nasdaq to its worst July performance since 2014.

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Market Volatility Can Upend Your Retirement Plans. How Do You Protect Yourself? By Investopedia

A recent survey from MetLife found that nearly 70% of defined contribution plan sponsors, who offer retirement plans such as 401(k)s, were concerned about participants’ (who were within 10 years or less from retirement) abilities to weather market volatility. 61% of sponsors were worried about participants’ who were already retired.

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As Americans live longer, many retirees struggle to care for elderly parents: ‘It makes childcare look inexpensive’ by Fortune

At a time when many have dreams of finally taking a long-awaited trip or dominating the pickleball court, a growing number of retirees are instead spending much of their time and money on caring for others—and risking their own financial security.

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‘Pig Butchering’ Crypto Scams a Growing Concern by ICBA

A new form of investment scam has skyrocketed in recent years as criminal syndicates target consumers through online channels. Called “pig butchering,” this new scam is increasingly relevant, including among the consumers and communities that community banks serve.

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How Couples Are Thinking About Money and Retirement

When it comes to planning for retirement, couples generally agree on the big picture. It’s in the details, however, where differences often arise, says Nayan Ranchhod, Ameriprise Financial private wealth advisor and CEO of Silver Lining Wealth Advisors in Scottsdale, Ariz.

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6 Questions Married Women Should Answer About Retirement Income

Married women face a special retirement planning challenge that’s best addressed when they and their spouse transition into retirement. Here’s the problem: When one spouse passes away, the survivor’s retirement income usually drops much more than their living expenses do.

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How Inflation Impacts Your Financial Plan And What To Do About It

As of May 2024, the U.S. Bureau of Labor Statistics reported that inflation was 3.3%. This number is right in line with averages over the last 100 years. Assuming the trend continues, if your lifestyle expenses are $50,000 per year today, they will be closer to $130,000 in 30 years.

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2 Key Benefits Of Living Trusts by Forbes

With so many misconceptions around trusts, it's easy to understand the confusion about the benefits of a revocable living trust. A living trust (also called a revocable trust or revocable living trust) can be beneficial to a much broader group of Americans than most people expect.

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Market Week: July 8, 2024

The stock market fared quite nicely during the Fourth of July week. Each of the benchmark indexes listed here posted gains, with the Nasdaq and the S&P 500 reaching record highs a few times during the week. Only the small caps of the Russell 2000 slid lower. The June jobs report (see below) gave investors encouragement that the Fed may be inclined to cut interest rates as early as September. Information technology, consumer discretionary, and communication services outperformed among the market sectors, while energy and health care lagged.

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Estate Planning: An Introduction

By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death according to your goals and objectives.

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Market Week: July 1, 2024

Stocks closed generally higher for the week, with the Russell 2000, the Nasdaq, and the Global Dow posting gains, while the large caps of the Dow and the S&P 500 declined. Ten-year Treasury yields rose as bond prices fell. Crude oil prices gained about $1.00 per barrel.

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How to Keep Your Valuables Safe When You’re Away

12/28/2022
Traveling can be a wonderful experience, but it can also lead to unexpected surprises. Recently, a group of travelers returning from their trips were shocked to discover that their cars had been broken into while in long-term parking at the airport.

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In-Service Withdrawals from 401(k) Plans

You may be familiar with the rules for putting money into a 401(k) plan. But are you familiar with the rules for taking your money out? Federal law limits the withdrawal options that a 401(k) plan can offer. But a 401(k) plan may offer fewer withdrawal options than the law allows, and may even provide that you can't take any money out at all until you leave employment. However, many 401(k) plans are more flexible.

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Quarterly Market Review: July-September 2024

Wall Street got off to a good start to begin the third quarter of 2024 and continued to rally for much of the quarter. Investors spent the quarter watching inflation and economic data, trying to gauge whether the Federal Reserve might lower interest rates.

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Here's What The Interest Rate Cut Means For Retirees

If you’re retired or soon-to-be retired, how could the recent cut in interest rates by the Federal Reserve affect your finances? Unfortunately, there’s not a simple answer, because it depends on your financial circumstances, investments, and sources of retirement income. And if you’re like many retirees, there could be both positive and negative effects on your finances.

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