WHAT IS AN ANNUITY?

Annuities have a bad reputation. They can be seen as expensive and difficult to understand. But it is important to not jump to any
conclusions. Similar to other financial tools, it is best to ask “what role can annuities play in my overall finances?” rather than to avoid them owing to myths or misconceptions.

THE ROLE OF THE FEDERAL RESERVE

The Federal Reserve is making headlines for how it is handling short-term interest rates, but you may not be aware of the colorful history and wide range of financial responsibilities that fall to the central bank of the United States.

THE VERSATILITY OF LIFE INSURANCE

Life insurance is a versatile financial tool that can play a critical role in a family’s overall financial strategy. However, too often, it’s overlooked and seen as a tool that can play only a more limited role

Contribution Limits For 2023

Not much good can come from a period of high inflation.
However, if you had to search for a silver lining, it is that the Internal Revenue Service in late 2022 announced historic increases in the contribution limits for retirement plans.1

What Does A Strong Dollar Mean For The U.S. Economy?

Every year, the College Board releases new college cost data and trends in its annual report. The figures published are average cost figures based on a survey of approximately 4,000 colleges across the country.

IRS Increases Standard Mileage Rates for Last Half of 2022

Due to recent increases in the price of fuel, the IRS has increased the optional standard mileage rates for computing the deductible costs of operating an automobile for business, medical, and moving expense purposes for the second half of 2022. The standard mileage rate for computing the deductible costs of operating an automobile for charitable purposes is set by statute and remains unchanged. For July 1, 2022, to December 31, 2022, the standard mileage rates are as follows

High Inflation: How Long Will It Last?

In March 2022, the Consumer Price Index for All Urban Consumers (CPI-U), the most common measure of inflation, rose at an annual rate of 8.5%, the highest level since December 1981. It’s not surprising that a Gallup poll at the end of March found that one out of six Americans considers inflation to be the most important problem facing the United States. When inflation began rising in the spring of 2021, many economists, including policymakers at the Federal Reserve, believed the increase would be transitory and subside over a period of months. One year later, inflation has proven to be more stubborn than expected. It may be helpful to look at some of the forces behind rising prices, the Fed’s plan to combat them, and early signs that inflation may be easing.

Investment Success Is Long-Term Investing

Time is usually the number one contributor to financial success when it comes to investing. Over the short-term, it is nearly impossible to predict whether the financial markets or world economies will go up, down, or even sideways. Historically, indices have gone up more often, especially over rolling periods of time.

Tech Sector Turmoil And The Bear Market

During the intensely volatile first 100 trading days of 2022, the stocks of companies in the S&P 500 index delivered their worst performance since 1970.¹ The S&P 500 continued to tumble, and the benchmark index descended into a bear market — typically defined as a sustained drop in stock prices of at least 20% — on June 13, 2022. When the market closed, the S&P 500 had dropped 21.8% from its January 3 peak, and the tech-heavy NASDAQ, already in bear territory, had plunged 32.7% from its November 19, 2021 peak.² Some investors who are nervous about the future and their portfolios seem to have taken a defensive stance by selling riskier assets, including investments in growth-oriented technology stocks. 

Required Distributions: Changes You Need To Know

The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 changed the rules for taking distributions from retirement accounts inherited after 2019. The so-called 10- year rule generally requires inherited accounts to be emptied within 10 years of the original owner’s death, with some exceptions. Where an exception applies, the entire account must generally be emptied within 10 years of the beneficiary’s death, or within 10 years after a minor child, beneficiary reaches age 21. This reduces the ability of most beneficiaries to spread out, or “stretch,” distributions from an inherited defined contribution plan or an IRA