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Next Generation Series: 529 Plan

Monday, July 15, 2019

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This is our next blog in a series about setting up the next generation for success. In this piece, we outline the benefits of a 529 Plan A 529 plan is a tax-advantaged plan created to save money for college tuition, housing, books and other education-related expenses at most universities. In addition to traditional college tuition and fees, funds can be used at a number of vocational and trade schools. Also in some states, 529 savings now may be used towards tuition expenses at eligible private elementary and secondary schools (K-12). 529 plans must be established for one individual beneficiary….

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Monthly Market Update for June 2019

Friday, July 12, 2019

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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: Financial assets across the board performed well in June, capping a very strong first half of 2019. While global economic data releases tended to fall short of expectations, this only served to support the market’s firm conviction that the Federal Reserve will soon deliver insurance cut(s) to “sustain the expansion.” Not to be left out, the European Central Bank delivered a statement indicating that it would employ its monetary…

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June 18th and 19th FOMC Meeting Follow-Up:

Thursday, June 20, 2019

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Policy Normalization on Target: With St. Louis Fed President James Bullard casting the first dissenting vote under Chairman Jerome Powell’s leadership, the FOMC voted to maintain the target range for the Fed Funds rate at 2.25% to 2.50%. As has been the case for recent meetings, this decision to take no action at this meeting was generally expected by the market with an ~80% implied probability. The quantitative tightening policy that’s allowed the Fed’s balance sheet to contract by up to $50 billion/month is now reduced to $35 billion/month. The program is set to end entirely in September. Growth: The…

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Next Gen Series: Raising Financially Responsible Children

Thursday, June 13, 2019

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Raising financially responsible children starts with having age-appropriate and open dialogues concerning money and family values at a young age. In addition to talking freely within the family, encouraging and demonstrating good money habits is critical. Children pattern their attitudes toward spending and saving after the grown-ups in their lives. To ensure financial responsibility when they are adults, let them catch you in the act of being responsible, early and often. Here are some suggestions for how you can teach and reinforce good financial habits. When discussing money, as much as possible, talk to them as if they are adults…

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Monthly Market Update for May 2019

Wednesday, June 12, 2019

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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: To paraphrase, the month of May came “in like a lamb” but went “out like a lion.” It was a month offering little to calm investor nerves, given continued concern over tariffs and the relationship between the US and China, potential new tariffs with Mexico tied to immigration, conflict between the US and Iran, no resolution of Brexit amid the resignation of Prime Minister May, and economic news that…

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