“The Fed's mission The Federal Reserve is the central bank of the United States. Its mission is to provide the nation with a safer, more flexible, and more stable monetary and financial system. For more information on the Federal Reserve, visit federalreserve.gov.” If you follow financial news, you've probably heard many references to "the Fed" along the lines of "the Fed held interest rates," or "market watchers are wondering what the Fed will do next." So what exactly is the Fed … [Read more...]
Managing Your Money in a Gig Economy
“As a contingent worker, you may be eligible for a number of tax deductions (e.g., start-up expenses, mileage), so be sure to keep good records. If you have multiple gig jobs, consider using a log to keep track of your income and work expenses.” According to the Bureau of Labor Statistics, 16.5 million people rely on contingent or alternative work arrangements for their income.1 Often referred to as the "gig economy," these nontraditional or contingent work arrangements include independent … [Read more...]
What is a college income-share agreement?
A college income-share agreement, or ISA, is a contract between a student and a college where a student receives education funding from the college today in exchange for agreeing to pay a percentage of future earnings to the college for a specified period of time after graduation. The idea behind ISAs is to minimize the need for private student loans, to give colleges a stake in their students' outcomes, and to give students the flexibility to pursue careers in lower-paying fields. Purdue … [Read more...]
How to Recover from a Mid-Life Financial Crisis
“Only 48% of workers ages 45 to 54 are confident that they will have enough money to last throughout their retirement.” Source: 2018 Retirement Confidence Survey, Employee Benefit Research Institute A financial crisis can be scary at any age, but this is especially true when you're in your 40s or 50s. Perhaps you're way behind on saving for retirement or have too much debt from unnecessary spending. Or maybe an unexpected challenge, such as a job loss, illness, or break from the … [Read more...]
U.S.-China Trade War: Who Pays the Price?
“Many U.S. manufacturers and importers are looking for suppliers in other countries and/or moving production out of China.” On May 13, 2019, escalating trade tensions between the United States and China sparked a worldwide stock sell-off that wiped out more than $1 trillion in global equity values.1 The markets recovered over the next three days, but tensions between the economic giants continued to drive volatility with no resolution in sight.2 Investors sometimes overreact to short-term … [Read more...]
Gray Divorce: Dividing Assets Can Impact Retirement
Although most people who marry hope their unions will last forever, about 50% of first marriages in the United States end in divorce.1 Individuals age 50 and older are still less likely to get divorced than those who are younger. Even so, the divorce rate for Americans under age 40 has declined since 1990, while it has roughly doubled for those age 50 and older.2 Unfortunately, a divorcing couple must typically negotiate a property settlement agreement (or seek the assistance of the courts) … [Read more...]
Mergers & Acquisitions: What’s in the Deal for Investors?
Merger and acquisition (M&A) activity in North America and Europe reached its second highest level on record in 2018. There were 19,501 deals worth $3.6 trillion — a 6.3% increase in deal volume over 2017. There was also a rise in mega deals exceeding $10 billion.1 Collectively, U.S. corporations had plenty of cash to spend after a long string of solid profits and a significant tax cut.2 High stock prices also provided plenty of equity for deals involving the exchange of stock, while … [Read more...]
Market Month: May 2019
The Markets (as of market close May 31, 2019) Stocks fell sharply in May, closing out their worst month since last December. Each of the benchmark indexes posted month-over-month losses exceeding 6.5%. While market performance has largely swung on trade rhetoric, it appears investors have reached their boiling point and are moving away from stocks and floating toward bonds, pushing yields on 10-year Treasuries down (-37 bps in May) as bond prices soared. Oil prices fell sharply on trade … [Read more...]
1040 Postmortem: Making Sense of Your Taxes and Withholding
“An estimated 65% of U.S. households paid less in federal income taxes in 2018, whereas 29% paid about the same and 6% paid more.” Source: Tax Policy Center, 2019 The Tax Cuts and Jobs Act (TCJA), which passed in December 2017, made fundamental changes to the U.S. tax code, and 2018 returns were the first time most taxpayers could see the practical impact of these changes. In an April 2019 Gallup poll, 43% of Americans said they were unsure how … [Read more...]
Rules on Opening a 529 Plan Account for College
“529 plan assets reach $333 billion assets in 529 plans reached $333 billion as of September 2018 — $310 billion (93%) in college savings plans and $23 billion (7%) in prepaid tuition plans.” Source: Strategic Insight, 529 Data Highlights, 3Q 2018 Year over year, participation in 529 plans continues to rise.1 Anyone can open an account, lifetime contribution limits are typically over $300,000, and there are tax benefits if the funds are used for college. Here are some common … [Read more...]
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