In this week’s recap: Mixed news elicits a mixed reaction from the markets; incoming Biden Administration outlines stimulus plan. THE WEEK ON WALL STREET Markets drifted lower last week as uninspired investors digested mixed news on the economic front. The Dow Jones Industrial Average lost 0.91% while the Standard & Poor’s 500 slid 1.48%. The Nasdaq Composite index stumbled 1.54% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, slipped … [Read more...]
Financial Wellness Month
Time to tune up your financial strategy. January is Financial Wellness Month, a time to remind people to make arrangements for their financial strategy.1 For a financial professional, it’s time to connect with new clients and discuss their financial situation and aspirations for their future. It’s also a good time to connect with established clients and check it to see if their financial strategy needs any adjustment, as well as talk about any changes they want to discuss. Having your … [Read more...]
The Year In Brief
A look back at 2020 thus far Presented by Larry Menna, CFP®, AIF® The year in brief. The coronavirus pandemic disrupted the global economy, global financial markets, and daily life in 2020. For investors, it was certainly an eventful year. Economic activity abruptly contracted in the spring, and stocks quickly fell. The upcoming presidential election and COVID-19 vaccine developments could provide more market-moving headlines.1 The Federal Reserve cut short-term interest rates to just … [Read more...]
Your Year-End Financial Checklist
Aspects of your financial life to review as the year draws to a close. The end of the year can help remind us of last-minute things we need to address and the goals we want to accomplish. To that end, here are some aspects of your financial life to think about as this year leads into the next. Keep in mind, this article is for informational purposes only and is not a replacement for real-life advice. Make certain to contact a tax or legal professional before modifying your tax strategy. … [Read more...]
The Social Security Administration Announces 2021 COLA
What you should know about the most recent cost-of-living adjustment. On October 13, 2020, the Social Security Administration (SSA) officially announced that Social Security recipients will receive a 1.3 percent cost-of-living adjustment (COLA) for 2021. This adjustment will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2021. Additionally, increased payments to more than 8 million Supplemental Security Income (SSI) beneficiaries will begin on … [Read more...]
October Is Financial Planning Month
Six areas of personal finance to review. When training to become a financial professional, much of our course work centers on the six critical areas of creating a financial strategy. Some recognize October as Financial Planning Month, so it's an excellent opportunity to review those six personal finance areas.1 Cash Management: This is a broad topic that can address many issues. One area is creating an emergency fund, which is money that's set aside for unplanned expenses. Cash management … [Read more...]
Annual Financial To-Do List
Things you can do for your future as the year unfolds. What financial, business, or life priorities do you need to address for the coming year? Now is an excellent time to think about the investing, saving, or budgeting methods you could employ toward specific objectives, from building your retirement fund to managing your taxes. You have plenty of choices. Here are a few ideas to consider: Can you contribute more to your retirement plans this year? In 2021, the contribution limit for a … [Read more...]
Dow 30 Changes Its Starting Lineup
What you should know about the change. The Dow Jones Industrial Average (DJIA), one of the most widely followed stock market indices, has made some key changes to its starting lineup. Salesforce.com, Amgen Inc., and Honeywell International Inc. have replaced Exxon Mobil Corp., Pfizer Inc., and Raytheon Technologies Corp. The change went into effect before the market opened on Monday, August 31.1 It’s important for investors to know that the changes took effect so they have a better … [Read more...]
The Fed’s Year-Long Review Expected in September
Changes may be on the way. As many of you know, the Federal Reserve's Open Market Committee has eight scheduled meetings each year when the seven board members review the nation's economic activity and set the federal funds rate's target rate. In this extraordinary year, the Fed may announce in September the results of its year-long policy review. The Fed's focus has been where Americans might expect: examining inflation and employment as the nation recovers from the volatility that … [Read more...]
What Is Earnings Season?
Financial results are reported each quarter. Every few months, you may hear the phrase “we’re entering earnings season” as you read financial news. But what exactly is “earnings season” and why is it important to Wall Street? Earnings season is the period of time when a majority of publicly traded companies release their quarterly financial reports. Companies often go into great detail about the forces that influenced their business for the prior three months, and some may provide … [Read more...]