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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: In the spirit of the coming New Year, significant progress was made in December to bring resolution to a number of ongoing uncertainties across the globe. Indeed, the last month of 2019 was ultimately peaceful and positive for equity and credit markets to complete an overwhelmingly strong year. Optimism surrounding a “phase one” trade accord between the US and China proved prescient, just in time to avert planned tariff…

On Dec 20, 2019 President Trump signed into law The SECURE act, an acronym for Setting Every Community Up for Retirement Enhancement. The bill is intended to strengthen American’s retirement security. Key points: Increasing the Required Minimum Distribution Age Effective January 1, 2020, the age at which individuals must begin taking their Required Minimum Distributions from their retirement accounts has been raised to 72 from 70 ½.  This only applies to people who turn 70 ½ after December 31, 2019. If an individual turns 70 ½ in 2019, the law does not apply. Contributions to Traditional IRAs after age 70…

By Year End Fund Health Savings Account (HSA): For 2019, those in high-deductible health-insurance plans can contribute as much as $3,500 before taxes. For families, the figure is $7,000 and those age 55 and older can contribute an additional $1,000. Spend flex dollars: Unused funds in Flexible Spending Accounts are typically forfeited at year’s end, so make sure to tap them for eligible health and medical expenses by December 31. Some plans offer a “grace period” or may allow you to carry over some to use in the following year. Bottom line, check with your employer to confirm your plan’s deadlines. Contribute to…

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: A pervasive feeling that a recession is not on the immediate horizon, due to ongoing moderate growth, fueled the equity markets once again in November. Optimism surrounding a U.S-China trade accord was present throughout the month, while mixed signals across the global economy were enough to drive key benchmarks to new all-time highs. In keeping with the risk-on theme, government bond yields increased, and credit spreads extended their recent…

In honor of #GivingTuesday and the year-end giving season upon us, here are a few simple, helpful strategies. Create a plan to understand your impact Write a mission statement to focus your giving. Focus on what matters most to you by writing a few sentences about your giving goals. Use that statement to help you say no or to limit your support of causes that don’t align with those priorities. Particularly for families with children, incorporate giving into everyday life and make sure future generations know your intentions. As a family, decide on a few concrete steps you’ll take to…

This is our final blog in a series about setting up the next generation for financial success. In this piece we summarize and conclude with these 5 tips. 1. If they don’t have a written budget, encourage them to create one and stick to it. If they need to cut back on expenses, they can start by eliminating the extra “nice-to-haves” in their life. 2. Explain the importance of building an emergency fund to cover a minimum of three months of essential expenses and advise them to keep this money easily accessible, such as in a savings account. Depending on…

Global Economy: Amid ongoing economic and geopolitical uncertainty, financial markets continued to climb the proverbial wall of worry in October. As prominent equity benchmarks achieved all-time highs, fixed income markets reacted to broad policy accommodation with steeper yield curves and a bias to quality. Concerns of global manufacturing weakness spilling over into services, the labor market, consumer spending, and ultimately investor sentiment remain present. That said, a better-than-feared corporate earnings season, progress toward an initial US-China trade agreement, the reduced risk of a no deal Brexit, and a somewhat weaker U.S. dollar have collectively provided “green shoots” of optimism. The…

Policy Easing Continues: Following the mid-cycle adjustment that took place in July and an insurance cut in September, the FOMC delivered its third consecutive monetary policy modification. With a vote to reduce the Fed Funds rate by another 25 bps, the targeted range now stands at 1.50% to 1.75%. As has been the case for recent meetings, this decision was well-anticipated by the market, with a >80% implied probability of further accommodation reflected in the futures market since early October. Although Federal Reserve officials had ample opportunity to redirect expectations, and there were again two more hawkish dissenters within the…

In our last blog, we highlighted the importance of goal setting in several life categories for young adults: Health-Fitness, Family, Financial, Personal-Hobbies, and Career. We wanted to explore the importance of setting career goals. Creating and writing down specific, formal goals early in your career can help you jump start your career, ensure you continue to grow, and give you guidance through the ups and downs that comes with any career. Here are some initial career goal categories we recommend: Continual education and training is a must – If you want to progress in your career, learning new skills and…

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: Shaking off continued geopolitical uncertainty, investors provided a renewed bid for risk assets in September. Accordingly, global equities advanced modestly while interest rates reversed a portion of the prior month’s sharp decline. Manufacturing data continued to show signs of slowing and there was even some moderation in consumer spending and sentiment. US-China trade talks are scheduled to officially resume in mid-October, while the British Prime Minister faces political and…