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What is the employment situation report, and why is it important to investors?

Each month, the Bureau of Labor Statistics publishes the Employment Situation Summary report based on information from the prior month. The data for the report is derived primarily from two sources: a survey of approximately 60,000 households, or about 110,000 individuals (household survey), and an establishment survey of over 651,000 worksites. Results from each survey provide information about the labor sector, including the: Total number of employed and unemployed people … [Read more...]

Filed Under: Articles, Investments/Investing

Marriage and Money: Taking a Team Approach to Retirement

Open communication and teamwork are especially important when it comes to saving and investing for retirement. Now that it's fairly common for families to have two wage earners, many husbands and wives are accumulating assets in separate employer-sponsored retirement accounts. In 2018, the maximum employee contribution to a 401(k) or 403(b) plan is $18,500 ($24,500 for those age 50 and older), and employers often match contributions up to a set percentage of salary. But even when most of a … [Read more...]

Filed Under: Articles, Investments/Investing, Marriage, Retirement

The College Landscape After Tax Reform

College students and their parents dodged a major bullet with the Tax Cuts and Jobs Act of 2017. Initial drafts of the bill included the elimination of Coverdell Education Savings Accounts, the Lifetime Learning Credit, and the student loan interest deduction, along with the taxation of tuition waivers, which are used primarily by graduate students and college employees. In the end, none of these provisions made it into the final legislation. But a few other college-related items did. These … [Read more...]

Filed Under: Articles, Children, College, Govt-Legislation, Tax Topics

Quiz: Can You Answer These Social Security Benefit Questions?

Most people will receive Social Security benefits at some point in their lifetimes, but how much do you know about this important source of income? Take this quiz to learn more. Questions 1. Can you receive retirement and disability benefits from Social Security at the same time? a. Yes b. No 2. If your ex-spouse receives benefits based on your earnings record, your benefit will be reduced by how much? a. Reduced by 30% b. Reduced by 40% c. Reduced by 50% d. Your benefit will not be … [Read more...]

Filed Under: Articles, Retirement, Social Security

Dividend Investing: Small Payments Can Boost Returns

Owning shares of stock or stock funds might increase the value of your portfolio in one of two fundamental ways: capital appreciation (i.e., price increases) and dividend payments. Of the two, capital appreciation carries the greatest potential for return, but it also carries the greatest potential for loss. And any gains or losses are only reaped when you sell your shares. By contrast, dividends typically offer more consistent modest returns that are paid while you hold your shares. For this … [Read more...]

Filed Under: Articles, Investments/Investing

Will a government pension reduce my Social Security benefits?

If you earned a government pension from a job not subject to Social Security tax withholding ("noncovered employment") and are also eligible for Social Security benefits through a job where Social Security taxes were withheld, two provisions might reduce your benefits: the windfall elimination provision (WEP) and the government pension offset (GPO). The WEP affects how a worker's Social Security benefit is calculated. If you're subject to the WEP, your benefit is calculated using a modified … [Read more...]

Filed Under: Articles, Pension, Retirement, Social Security

What are some tips for creating a budget and sticking to it?

It's a common problem for many individuals — wondering exactly where your paycheck goes each month. After paying expenses, such as your mortgage, utilities, and credit card bills, you may find little left to put toward anything else. Creating a budget is the first key to successfully manage your finances. Knowing exactly how you are spending your money each month can set you on a more clear path to pursue your financial goals. If you become sidetracked when it comes to your finances, consider … [Read more...]

Filed Under: Articles, Budget Spending Finance

What are some strategies for paying off credit card debt?

Nowadays, it's easier than ever to get caught up in the cycle of credit card debt. In fact, it's become a growing problem for many Americans. According to the Federal Reserve, total U.S. credit card payments reached 111.1 billion in 2016, up 7.4% from 2015. 1 If you find that you are struggling to pay down a credit card debt balance, here are some strategies that can help eliminate your credit card debt altogether: Pay off cards with the highest interest rate first. If you have more than … [Read more...]

Filed Under: Articles, Credit Cards, Debt

Four Points to Consider When Setting a Retirement Income Goal

No matter what your age or stage of life, targeting a goal for monthly retirement income can seem like a daunting task. Following are four considerations to help you get started. 1. When do you plan to retire? The first question to ponder is your anticipated retirement age. Many people base their target retirement date on when they're eligible for full Social Security benefits, and for today's workers, "full retirement age" ranges from 66 to 67. Other folks hope to retire early, while still … [Read more...]

Filed Under: Articles, Retirement

Government Report Details Household Finances

Every three years, the Federal Reserve sponsors the Survey of Consumer Finances (SCF), which collects information on the financial state of U.S. households. The survey is one of the nation's primary sources of information on the financial condition of different types of households. Here are a few interesting observations gleaned from the most recent surveys conducted in 2013 and 2016, with the latter comparing changes during that timeframe. Income The typical household's median family income … [Read more...]

Filed Under: Articles, Budget Spending Finance, Debt

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