This is our next article in a series about how to plan and care for our aging loved ones. In this piece, we discuss the potential day to day financial management assistance our parents, or aging loved ones, may need as they age. Below are questions we use with our clients to help guide discussions and provide advice. What are their sources of income? The easiest place to start here is with their tax return. The tax return tells all. We can quickly look at social security, pensions, what accounts are generating interest, dividends, capital gains, IRA distributions, etc. What…

Please find the next blog in our monthly series that provides a review of the prior month’s market data, the state of the economy, and the global financial markets. Global Economy: The US economy continues to rebound from the pandemic-induced recession but faces a new hurdle as Commerce Department figures show personal income falling with the expiration of government aid. Countries around the world continue to grapple with increasing case counts and new lockdowns. Fed policy is likely to remain accommodative for the foreseeable future, but new fiscal support remains elusive as Congress has failed to reach an agreement. Controlling…

Is History Any Guide?  We find ourselves in the fall of 2020 preparing for a general election with a historically unique set of circumstances: a global pandemic, an economic recession, the fastest equity market correction (and subsequent recovery) on record, multiple natural disasters, and social unrest. And if that wasn’t enough, we face the potential for a contested election outcome, which could add to market volatility through year end. Can history be of any use in such a year?  While no previous election year contains all of these same variables, we can find some insights by examining the individual effect…

Please find the next blog in our monthly series that provides a review of the prior month’s market data, the state of the economy, and the global financial markets. Global Economy: The pace of recovery has slowed over the summer with an increase in infections, but high-frequency economic data continues to show growth. While the US has managed to reduce its daily case count from the July peak, Europe now faces a virus resurgence brought on by easing restrictions and summer travel. Fed policy is likely to remain accommodative for the foreseeable future, but new fiscal support remains elusive as…

Rates In its last scheduled meeting before the US presidential election, the FOMC voted to keep the Fed Funds target rate unchanged within the 0.00% to 0.25% range. This outcome was widely expected. Two members of the committee voted against the decision on the basis of differences with longer-term policy plans. The forward guidance on monetary policy indicated strong support within the committee for maintaining the current target range through 2023. Inflation The statement added language reflecting Chairman Powell’s announcement in late August that the Fed would transition to an average inflation targeting methodology with respect to its 2% inflation…