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Weekly Review 11-29-24

December 13, 2024

Last week closed out the strongest month in stock markets this year with the S&P 500 adding .32% on the week and 5.30% on the month while the NASDAQ added .36% on the week and 5.36% on the month. Year-to-date, the S&P 500 is up 27.5%, and the NASDAQ has gained 31.41%. The S&P600 small cap index added a whopping 10.71% on the month and is now up 17.73% on the year(FactSet).

Weekly Review 11-22-24

December 13, 2024

Last week brought some relief to the markets as the S&P 500 rose by 1.73% and the NASDAQ gained 1.61%, recovering from the prior week’s decline. At the close of trading Friday, the S&P 500 was up 25.15% for the year, while the NASDAQ posted a year-to-date gain of 26.6% (FactSet).

Weekend Read – 2024 Year-End RMDs and Updates

December 9, 2024

As we approach the end of the year, it's a good time to talk about Required Minimum Distributions (RMDs). These are the withdrawals the government requires you to take from your IRA(s) each year once you reach a certain age. If you’re over 73 or have an inherited IRA from before 2020, this rule applies to you. Starting in 2025 if you inherited an IRA after 2019 this will also apply to you, but we’ll come back to that later.

Weekend Read: 2025 Retirement Contribution Limits Changes

November 25, 2024

The IRS has announced the retirement plan contribution limits for 2025, and while there are changes for some accounts, others are holding steady.

Weekly Review 11/15/24

November 21, 2024

The stock market gave some back this past week, with the S&P500 and NASDAQ returning 2.34% and 3.42% after their impressive rally following the November 5 election. This pullback is notable after the prior week’s surge of 4.86% and 6.30% suggesting that the euphoria over election outcomes may have subsided as investors refocus on economic fundamentals (FactSet).

Weekend Read: Why Markets Are Reacting Favorably to a Trump Presidency

November 21, 2024

One of the primary areas of optimism lies in Trump’s support for extending his 2017 tax cuts and potentially reducing corporate taxes further1. By easing the tax burden on companies, there is an expectation that businesses will have more resources for reinvestment, growth, and hiring. Lower corporate taxes directly boost net profits, which can lead to higher earnings per share and, in turn, support rising stock valuations. Additionally, a more favorable tax structure could lead companies to repa

Weekly Review 11/8/24

November 21, 2024

Last week, U.S. stock indexes closed out their best week in a while, with gains of 4.86% and 6.30% for the S&P 500 and NASDAQ. Both Indices reached record highs, with the S&P 500 briefly crossing 6,000 before settling just below. YTD they are up 25.70% and 28.48% respectively (FactSet). It appears that this week’s rally was a mix of election outcomes and fresh economic data, with stocks surging midweek on investors’ reactions to Tuesday's results.

Weekly Review 10-25-24

November 21, 2024

Last week, we saw mixed results in the market. The S&P 500 declined by around 1%, while the Nasdaq inched up a bit. Notably, the Nasdaq briefly reached its all-time high during trading on Friday but couldn’t hold that position by the close (FactSet). We may see a little volatility later this week depending on how the GDP and unemployment numbers look.

Understanding Roth Conversions: Why They Might Make Sense for You

November 21, 2024

A Roth conversion is when you transfer funds from a traditional retirement account like an IRA or 401(k) into a Roth IRA. When you do this, you pay taxes on the amount you transfer since contributions to traditional accounts are made with pre-tax dollars. However, once the funds are in the Roth IRA, they grow tax-free, don’t have a Required Minimum Distribution, and qualified withdrawals aren’t subject to taxes.

Weekly Review 10-18-24

October 23, 2024

Both the S&P 500 and NASDAQ inched upward last week, adding 0.47% and 0.17%, respectively. This puts the S&P 500 up 22.95% and the NASDAQ up 23.17% so far this year (FactSet). What happens during the rest of the year is anybody's guess, but we’ve certainly enjoyed a good run so far. Hopefully, the inflation figures, unemployment data, and GDP don’t give us too many surprises. With the trend of stable economic data we’ve received, I’d expect this to continue. Of course, with an election on the ho

Weekend Read: End-of-Year Tax Planning Strategies for 2024

October 23, 2024

I can’t believe I’m saying this, but as the end of the year approaches, it’s time to take a look at our tax planning strategies. People have several key opportunities to optimize their tax situation before the calendar flips to 2025. Here are a few strategies to that I consider.

Weekly Review 10-11-24

October 23, 2024

The S&P 500 and NASDAQ each climbed more than 1% last week, marking their fifth consecutive week of gains. Both indexes extended the market’s recovery from early September’s sharp losses. The S&P 500 pushed to new highs, and the NASDAQ now sits just 2% below its all-time peak. Year-to-date, both indexes remain solidly positive, adding to investor optimism (FactSet).

Weekend Read: Social Security Announces 2.5% Benefit Increase for 2025

October 14, 2024

In 2025, Social Security recipients will see a modest boost to their monthly payments. The Social Security Administration has announced a 2.5% cost-of-living adjustment (COLA) for Social Security benefits1.In 2025, Social Security recipients will see a modest boost to their monthly payments. The Social Security Administration has announced a 2.5% cost-of-living adjustment (COLA) for Social Security benefits1.

Weekly Review 10-4-24

October 14, 2024

Weekly Review for week ending 10-4-2024I take pride in personally crafting each of these emails. Unlike many others in the industry who rely on prewritten content, I write these myself from scratch. My goal is to boil down complex concepts and share relevant news in an easy-to-understand format. I hope you find them both informative and enjoyable. The major U.S. stock indexes made small forward and backward oscillations throughout last week before a modest rally on Friday, ending with slight gai

Weekend Read - Lower Rates Are Here—But Will Life Actually Become More Affordabl

October 14, 2024

Before diving into how the Fed’s recent rate reductions might impact you, I want to clarify a common misconception about inflation. When we hear that inflation is coming down, it doesn’t mean prices are falling—it just means they’re rising at a slower pace. Essentially, things are still becoming more expensive, just not as quickly as before. This is why many people are still feeling the strain on their budgets and why affordability remains a challenge, even when inflation figures appear to impro

Weekly Review - 9-27-24

October 1, 2024

U.S. stock markets posted gains for the third consecutive week, continuing their rebound from the sharp losses experienced at the start of September. The S&P 500 and NASDAQ rose by 0.6% and 1.0%, respectively, with the S&P 500 reaching new record highs and the NASDAQ closing just 2.8% shy of its all-time peak from over two months ago (FactSet).

Weekend Read: Tax Planning for Retirement Withdrawals – Which Accounts to Tap Fi

October 1, 2024

One of the most important decisions retirees face is how to withdraw from different types of accounts—taxable, tax-deferred, and Roth—in a way that helps reduce the taxes you pay and helps extend the life of your savings. It’s not just about taking money out, but doing so strategically to help keep more of what you’ve worked so hard to save while paying as little as possible in taxes.

Weekly Review 9-20-24

September 25, 2024

The stock market surged this week in response to the Federal Reserve’s decision to cut interest rates by 0.50%, surprising many who expected a smaller 0.25% reduction. The S&P 500 added 1.55%, hitting an all-time high and breaking through the previous record set on July 16th. Year-to-date, the S&P 500 is up 19.55%. The NASDAQ also had a strong week, gaining 2.57%, though it remains 3.75% below its July 10th high. Year-to-date, the NASDAQ is up 19.56% (FactSet).

Weekend Read: Why Gifting Your Home to Your Children Might Not Be the Best Idea:

September 25, 2024

When it comes to estate planning, many people consider gifting their home to their children as a way to pass on their most significant asset. While this gesture often comes from a place of love and the desire to simplify asset transfers, it might not always be the best strategy. Here’s why putting your home in a trust might be a better option.

Weekly Review 9-13-24

September 25, 2024

The stock market saw a strong rebound last week, with gains of 3.14% for the S&P 500 and 4.76% for the Nasdaq. This recovery completely erases the previous week’s steep losses (FactSet).

Weekend Read: Understanding Capital Gains Tax vs. Income Tax

September 25, 2024

With the upcoming election, capital gains tax has become a hot topic, with some presidential candidates proposing changes to the tax structure. These discussions have sparked questions from clients about how these potential changes might affect their investments. I thought this would be a great time to explain the key differences between capital gains tax and income tax, and how understanding them can help you make more informed financial decisions.

Weekly Review 9-6-24

September 10, 2024

Stocks took a sharp hit last week, with the NASDAQ dropping around 6% and the S&P 500 falling a little over 4%. Small-cap stocks followed suit, also declining by 6% (FactSet). So, what’s behind the pullback?

Weekend Read - Saving for college in a 529

September 10, 2024

As you may know, college is expensive, and over the last decade, costs have risen an average of 4+% annually1. We could spend hours discussing whether this is sustainable and wax poetically about the value of a college degree, but that’s a conversation for another time. Today let’s explore what you can do to help your kids/grandchildren graduate with as little debt as possible.

Weekly Review - 8-30-24

September 9, 2024

The markets held relatively steady last week, with the S&P 500 finishing about where it began. The NASDAQ, however, saw a slight decline of about 1%. As of last week, the S&P 500 is down just 0.33% from its all-time high in mid-July. Despite some volatility, August ended on a positive note, with the S&P 500 gaining approximately 2% and the NASDAQ up about 1% (FactSet).

Weekend Read - What to Expect as the Fed Begins Its Rate Decrease Cycle

September 9, 2024

Over the past few years, we’ve witnessed a period of aggressive interest rate hikes by the Federal Reserve followed by an extended period where they held those rates steady at elevated levels. This strategy was a response to rising inflation. The Fed raised rates rapidly and held them there, intending to cool down the economy and bring inflation back to its 2% target.

Weekly Review 8-23-24

August 27, 2024

This past week, the S&P 500 and NASDAQ, saw gains of over 1%. After two strong weeks, the indices have nearly erased the losses from late July and early August. By Friday's close, the S&P 500 was just 0.58% below its mid-July record high, while the NASDAQ remained 4.13% off its peak (FactSet).

Weekend Read - Wills vs Trusts - Which one is right for you

August 27, 2024

When it comes to estate planning, two of the most common tools people use are wills and trusts. Both are essential in ensuring that your assets are distributed according to your wishes, but they serve different purposes and come with unique benefits. Understanding the differences between them can help you make informed decisions about which option, or combination of options, is best for you.

Weekly Review - 8-16-24

August 27, 2024

I’d said that after the previous week’s jitters about the strength of the consumer and economy, that the Retail sales report would be closely watched. Well, retail and food services sales came in stronger than expected, signaling a solid start for the U.S. economy for the 3rd quarter. These numbers should communicate that the U.S. consumer is still going strong, despite recent market concerns. This data also suggests that the market's overreaction a few weeks ago were likely premature.

Weekend Read - How to avoid probate

August 20, 2024

One of the most important considerations is how to ensure that your assets pass smoothly to your loved ones. Probate is a process that often makes this process slower and more arduous. In this article, we'll explore what probate is, and the strategies you can use to avoid it.

Weekly Review 8-9-24

August 13, 2024

The markets saw some dramatic swings last week, all kicked off by a weaker-than-expected jobs report on Friday, which showed a softening labor market and a rise in unemployment. This news sent the markets tumbling, with the S&P 500 falling 3% and the NASDAQ losing 3.43% on Monday (FactSet). Investors were clearly spooked, leading to further declines as the week began.

Weekend Read - Do Presidents Affect The Stock Market?

August 13, 2024

They say not to discuss sex, religion, and politics in polite company. So, in the interest of keeping the peace, lets explore the impact of U.S. presidents on the stock market from a conceptual perspective, without diving into the specifics of individual presidencies or political parties. While presidents certainly have the power to influence the market through their policies and decisions, it's important to remember...

Weekly Review 8-2-24

August 7, 2024

Saying the stock market faced significant challenges last week is an understatement. Weak labor market data and mixed earnings results likely contributed to the downturn. Both the S&P 500 and the NASDAQ recorded their third consecutive week of declines with the sell-off peaking on Friday, leaving the S&P 500 down 2.4% for the week and 5.7% below its record high from July 16. The NASDAQ entered correction territory, down 10% from its July 10 peak.

Weekend Read - 401(k)/403(b) Options After Leaving a Job or Retiring

August 7, 2024

Whether you're transitioning to a new opportunity or stepping into retirement, knowing your options for your employer's retirement plan is crucial for making informed financial decisions. This applies to all employer retirement plans such as 401(k), 403(b), TSP, and 457. Let's break down your choices and what they mean for your future. Option 1: Leave It with Your Former Employer

Weekly Review - 7-26-24

July 30, 2024

The Nasdaq led U.S. stocks significantly lower on Wednesday after disappointing earnings reports from Alphabet and Tesla raised concerns about Big Tech's waning influence in driving market gains. By Friday, the market had recovered somewhat, but the S&P 500 and Nasdaq still closed down 1.85% and 3.61% for the week, respectively. Year-to-date, the S&P 500 is up 14.61% and the Nasdaq 15.63%. Small-cap stocks bucked the trend, adding 2.05%

Weekend Read - Updated IRS Inherited IRA RMD Ruling

July 30, 2024

Under the SECURE Act, non-spouse beneficiaries of IRAs are required to fully distribute the balance of their inherited IRAs within 10 years of the account holder's death. This marked a significant change from the previous rules, which allowed beneficiaries to stretch...

Weekly Review - 7-19-24

July 23, 2024

Last week was quite the rollercoaster for the markets. The NASDAQ took a notable hit, dropping nearly 4% as technology stocks stumbled. Meanwhile, the S&P 500, which gives us a broader view of the market, declined by about 2%. On the flip side, small-cap stocks kept their momentum going, with the S&P 600 rising by 0.8%.What I think we're seeing is a shift from the tech-heavy rally to a more diversified market performance.

Weekend Read - Understanding Required Minimum Distributions (RMDs)

July 23, 2024

As you approach retirement, you might start hearing more about Required Minimum Distributions, or RMDs. These are mandatory withdrawals from certain retirement accounts that the government requires you to take. This doesn't mean you have to spend the money, but you do need to remove it from the account and pay taxes on it.

Weekly Review 7-12-24

July 16, 2024

We had no shortage of economic data to digest last week. Starting with the stock market, the Dow, closed at 40,000, the second time in history it reached that figure. The S&P 500 was up 0.76% for the week, while the NASDAQ was essentially flat. Meanwhile, the S&P 600, a broad small-cap index, rallied an impressive 4.70%, especially considering it was previously down slightly for the year (FactSet).

Weekend Read: Estate Planning Basics

July 16, 2024

Estate planning might seem like an overwhelming task, but it's crucial to ensure that your hard-earned assets are distributed according to your wishes and in the most tax-efficient way possible. Let's break down the key components of estate planning, including beneficiaries, transfer-on-death (TOD) designations, wills, trusts, powers of attorney (POAs), and the tax efficiency of various account types.

Weekly Review 7-5-24

July 9, 2024

The stock market continued its upward trend this past week, with the S&P 500 gaining another 2% and the NASDAQ climbing an impressive 3.5% (FactSet). These increases add to the year-to-date gains, reinforcing the market's strong performance in 2024. June's jobs report, released by the Bureau of Labor Statistics (BLS), showed the creation of 206,000 new jobs. The unemployment rate ticked up to 4.1%, rising from 4% in May and 3.9% in April.

Weekend Read: Things To Consider With Inherited IRAs

July 9, 2024

Inheriting an IRA comes with various rules and regulations about how the account is taxed and how long you have to distribute it. Depending on when you inherited the account and your income needs, your strategy for taking distributions can vary. Today I'll discuss both scenarios to help you understand what to consider. There are a few different types of people who can inherit an IRA.

Weekly Review 6-28-24

July 1, 2024

The stock market made some impressive moves in June, with the S&P 500 advancing 3.5% and the NASDAQ adding 6%. The total return on the S&P 500 at the halfway point for the year stands at a remarkable 14.48%. In contrast, small-cap stocks are having a completely different experience, with the S&P Core Small Cap Index down 1.47% year-to-date (FactSet).

Weekend Read: Lump Sum vs Annuity – Making the Best Pension Choice

July 1, 2024

In the 1970's companies began to transition from pensions to 401(k)s. The introduction of the 401(k) was originally designed to allow executives to receive a tax advantage for their profit-sharing plans. Over time however, many companies viewed it as a way to transfer the obligation/burden of a secure retirement from the employer to the employee

Weekly Review 6-21-24

June 24, 2024

The S&P 500 and the NASDAQ added slightly to their record levels again last week, posting small gains and recording their eighth positive week out of the past nine. We're now near the halfway point of the year, and the S&;P 500 is up over 14.5% (FactSet).The National Association of Realtors reported that sales of existing homes fell 0.7% in May, marking the third consecutive month of decline.

Weekend Read - Tax Considerations on your Estate Planning

June 24, 2024

When people think about estate planning its often Wills, Trusts, and POAs that come to mind. While those are very important, the impact of estate planning on the accounts you leave to your heirs is often overlooked. Understanding how different types of accounts are passed on, can help you make more informed decisions and potentially save your heirs from unplanned tax burdens.

Weekly Review 6-14-24

June 18, 2024

Last week, both the S&P 500 and NASDAQ posted gains, with both indexes pushing to new all-time highs. The S&P 500 added 1.6%, while the NASDAQ led with a significant 3.3% gain (FactSet). While small-cap stocks have been lagging this year, I'm optimistic they will catch up when interest rates begin to come down. In economic news, consumer prices (inflation) increased by less than expected in May. The May CPI release is very encouraging for the Fed

Weekend Read - How The Fed Fights Inflation

June 17, 2024

Inflation has been a hot topic lately, and many of you might be wondering how the Federal Reserve (the Fed) tries to keep it under control. It's a complex task, but the Fed mainly uses two powerful tools: adjusting interest rates and buying or selling U.S. Treasury securities. Let's break down how these work. Adjusting Interest Rates The Fed controls the federal funds rate, which is the interest rate at which banks lend to each other overnight.

Weekly Review 6-7-24

June 10, 2024

U.S. stock indexes bounced back from a slight dip the previous week, with the NASDAQ and S&P 500 reaching new record highs, surpassing last month's peaks. Technology stocks got a boost from renewed excitement about artificial intelligence, pushing the NASDAQ up by 2.4% for the week (FactSet). Meanwhile, the S&P 500 and Dow saw more modest gains. The discrepancy between the non-farm payroll survey and the household survey highlights different aspects...

Weekend Read - Rethinking Traditional IRA/401k Strategies

June 10, 2024

Conventional wisdom for retirement planning has long suggested maximizing contributions to your 401(k) and IRA and leaving those funds untouched for as long as possible, ideally until Required Minimum Distributions (RMDs) kick in. This strategy hinges on the tax advantages these accounts offer: you get a tax deduction on the contributions, and the money grows tax-deferred until you withdraw it in retirement, ideally when you're in a lower tax ...

Weekly Review 5-31-24

June 3, 2024

This past week brought several notable developments in the housing market and broader economy. The weaker than expected Pending Home Sales Index in April was initially only mildly interesting. However, when considered alongside rising inventories, it starts to paint a more predictive picture. Simply put, more homes are being listed for sale, but they aren't selling as quickly as expected. This could mean that prices will begin to moderate.

Weekend Read - T+1

June 3, 2024

This weekend, I want to talk about an important change in the investment trading world that took effect this past Wednesday the 28th: the shift from T+2 to T+1 settlement for trades. Simply put, T+1 settlement means that when you buy or sell a stock, the transaction will now be finalized one business day after the trade is executed. Previously, under the T+2 system, it took two business days for the trade to settle.

Weekly Review 5-24-24

May 28, 2024

This past week brought mixed results for the major U.S. stock indexes. The Dow Jones struggled, dropping more than 2% and ending a five-week winning streak. It slipped over 900 points below the 40,000 mark it had hit just last week. Meanwhile, the NASDAQ performed well, gaining over 1%, largely thanks to strong showings in the tech sector. The S&P 500 saw a modest increase

Weekend Read - Trump Tax Cuts Expiring

May 24, 2024

Jeremy here with your weekend read. Today, let's talk about something that's on the nearer term, the upcoming expiration of the Trump-era tax cuts and what it might mean for your tax brackets and income. A Brief History of the Tax Cuts In 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law, bringing major changes to the U.S. tax code. It lowered individual income tax rates...

Weekly Review 5-17-24

May 21, 2024

Hey there, I'm back with another look at the stock market and economy. This past week was quite eventful, with some significant milestones and data releases that caught investors' attention. The NASDAQ set a record high on Tuesday, while the S&P 500 and Dow followed suit the next day as per FactSet, thanks to fresh data on inflation and a brighter outlook for eventual interest-rate cuts. On Friday, the Dow closed above 40,000-points

Weekend Read - Social Security Running Out Of Money

May 20, 2024

The weekend is almost here. Below is my attempt to simplify what's happening with social security. Enjoy! As things stand, the Social Security (SS) program is projected to run out of reserve funds by 2033 unless changes are made as per the annual report released by the 2024 annual report of the board of trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds (Social Security).

Weekly Review 5/10/24

May 20, 2024

Week in Review for the week ending May 10thThis past week has shown us some promising movements in the U.S. stock markets. For the third consecutive week, key indexes have climbed, pushing us excitingly close to the record highs we saw before the April retreat. The S&P 500 rose by an impressive 2%, while the NASDAQ wasn't far behind with a 1% increase per Fact Set. This resilience as earnings season wraps up is certainly a welcome sight.As we look back at April, it's interesting to n

Social Security Death Benefit

January 5, 2023

In this post, we'll go over the basics of the Social Security death benefit and how to apply for it.

Filing Taxes As A Qualifying Widower

January 5, 2023

If you are a widower and your spouse passed away in the past two years, you may be able to file your taxes as a qualifying widower. This can provide certain tax benefits...

All About Social Security Widow’s Benefits

January 5, 2023

If you are a widow or widower, you may be eligible to receive benefits based on your deceased spouses work history. Widow's benefits are available to widows and widowers who are at least 60 years old (50 if disabled) and were married to the deceased spouse for at least 9 months.

All About Social Security Survivor Benefits

January 5, 2023

As the survivor of a loved one who has passed away, you may be eligible for Social Security Survivor Benefits to help support you and your family during this difficult time.

How To Apply For My Husband's Pension

December 29, 2022

As a widow, applying for your husband's pension can be a confusing and overwhelming process. However, it is an important step to ensure that you can financially support yourself and any dependents after the loss of your spouse.

What Widows Need To Know About Social Security

December 27, 2022

As a widow, it's important to understand how Social Security can play a role in your retirement income.

What Widows Need To Know About Medicare

December 27, 2022

As a widow, it's important to understand how Medicare can play a role in your healthcare coverage.

Waiting To Make Big Decisions as A Widow

December 27, 2022

Losing a spouse is a difficult and emotional experience, and it can be tempting to make big decisions in the aftermath of this loss in an attempt to find some sense of control or closure.