It has been one of those weeks where just about every day the stock market opened lower. But by the end of the day, one or more of the three main averages would rebound and close higher, usually close to, or at a minor new high. I expect it should continue. And as stocks grind higher, more and more equity players are calling for a minor 2-3% pullback. Is that something that we should even care about? My answer would be no. We are in a news-driven market. Most investors only seem to care about the latest news on a…
Insights & Advice
Bill Schmick
Attention retirees!–Required Minimum Distributions may change
It has been more than a year since President Trump admonished the government to strengthen retirement security in America. This week, in response, The Internal Revenue Service (IRS) released a proposal to comply with that executive order. Its suggestions were decidedly underwhelming. Truth be told, financial planners and tax accountants have been speculating for years that, at some point, the IRS was going to have to recognize certain facts of life concerning retirement. One of which is that Americans are living longer. Why should that matter so much to you, the retiree? Because everyone that has a tax-deferred savings account…
Phase One deal keeps markets bullish
It was all about the trade deal this week. Both sides seem to want a resolution to the crippling tariffs that have sent the world’s economies to the brink of recession. The relief that investors feel is reflected in the new highs we are enjoying at the moment. I say “at the moment” because anything can change with a Tweet. However, given the mounting problems of the Trump presidency, I believe he needs something positive (and fairly soon) to divert the nation’s attention away from the impeachment hearings next week. Trump appears willing to drop, or at least roll back,…
Fringe benefits are as important as your paycheck
Most of us know to the penny how much we made last paycheck, but how many of us know the details of our fringe benefits? Not many, I suspect, and that is a big mistake. Retirement benefits are available to 77% of private industry workers and 91% of state and local government employees as of March 2019, according to the Bureau of Labor Statistics. Back in the day, offering perks to workers was a way to stand-out from your competition, but today they are essential tools of recruitment. And countless studies have shown that these benefits are a means to…