Here are some things you might consider before saying goodbye to 2021. What has changed for you in 2021? For some, this year has been as complicated as learning a new dance. Did you start a new job or leave a job behind? That’s one step. Did you retire? There’s another step. If notable changes occurred in your personal or professional life, then you may want to review your finances before this year ends and 2022 begins. Proving that you have all the right moves in 2021 might put you in a … [Read more...]

In this week’s recap: Debt ceiling raised until December; employment numbers paint confusing picture. THE WEEK ON WALL STREET The overhang of bumping against the federal debt ceiling was lifted last week with an agreement to extend the debt ceiling through early December, helping propel stocks to a weekly gain. The Dow Jones Industrial Average increased by 1.22%, while the Standard & Poor’s 500 added 0.79%. The Nasdaq Composite index gained 0.09%. The MSCI EAFE index, which tracks … [Read more...]

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 2022, the contribution limit for a … [Read more...]

The Fed may be ready to alter course. If you are feeling a bit confused about the direction of inflation, you’re in good company. Some of the best and brightest economists in the country are having a tough time getting their arms around the current inflation trends. The most recent Producer Price Index reading came in above economists’ estimates at a record level of 8.3% compared with a year earlier. Producer prices can be an indicator of future price changes at the consumer level.1 One … [Read more...]

What does this mean for your overall retirement strategy? Your workplace retirement account can play a critical role in your overall retirement strategy. However, some have gone further with the accounts than others, especially recently. CNBC reported on findings that place 401(k) accounts at all-time highs, with some even joining the much-desired “two comma club” of 401(k) millionaires. Average 401(k) balances jumped 24% from the previous year to $129,300. Also on the rise were overall … [Read more...]

How to keep track of your savings bonds’ maturity dates. Did you buy U.S. Savings Bonds decades ago? Or did your parents or grandparents purchase them for you? If they’re collecting dust in a drawer, you may want to take a look at them to see if any of your bonds have matured. If your bonds have matured, that means they are no longer earning interest, and it also means you may want to consider cashing them in.1 This article is for informational purposes only. It’s not a replacement for … [Read more...]

How many pieces do you have in place? When you read about money matters, you will sometimes see the phrase, “getting your financial house in order.” What exactly does that mean? When your financial “house is in order,” it means it is built on a solid foundation. It means that you have six fundamental “pillars” in place that are either crucial for sustaining your financial well-being or creating wealth. #1: A savings account. This is your Fort Knox: the place where you store and build … [Read more...]

What role should taxes play in your investment decisions? Will you pay higher taxes in retirement? Do you have a 401(k) or a traditional IRA? If so, you will receive income from both after age 72. However, if you have saved and invested much of your life, you may also end up retiring at a higher marginal tax rate than your current one. In fact, the income alone resulting from a Required Minimum Distribution could push you into a higher tax bracket. While retirees with lower incomes may … [Read more...]

Here’s what the financial forecast may have in store. It can be easy to overlook the nation’s solid economic fundamentals when the financial media splashes stories every day about an army of amateur traders, short-selling mania, and initial public offerings (IPOs) that double in price on the first day of trading. But a recent survey by The Wall Street Journal showed just how upbeat economists are about 2021.1 Here’s a quick summary of the highlights. Increased projected economic … [Read more...]