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Why do I need life insurance?

By Contributor(s) / September 1, 2023 / Comments Off on Why do I need life insurance?

Why do I need life insurance? Answer: Life insurance has several purposes. Its most important function is to replace the earnings that would cease at the death of the insured. For businesses, life insurance is a way to protect key employees and the business itself. A third purpose is to pay potential estate taxes. Protecting your family If you die during your earning years, your family could suffer a severe economic loss as a result of…

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A glass half full: now bonds offer better values than they have in years

By Contributor(s) / August 30, 2023 / Comments Off on A glass half full: now bonds offer better values than they have in years

There’s no arguing that 2022 wasn’t a brutal year for the bond markets and bonds. Virtually every segment suffered material declines, with investors’ risk aversion sending spread sectors lower while rising interest rates pushed rate-sensitive securities into the red. In the end, the Bloomberg U.S. Aggregate Bond Index lost just over 13%, only its sixth calendar-year loss in the index’s history and the worst year for bonds since the Great Depression.1 With the damage done, though, two…

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Why Did Retirement Confidence Falter in 2023?

By Contributor(s) / August 16, 2023 / Comments Off on Why Did Retirement Confidence Falter in 2023?

In its annual Retirement Confidence Survey of current workers and retirees, the Employee Benefit Research Institute found that workers’ confidence in their ability to fund retirement fell by the largest extent since the financial crisis of 2008, to levels not seen since 2018. Retirees’ confidence also took a substantial hit. Overall, just 20% of respondents felt very confident they will be able to afford a comfortable retirement. The percentage of workers who felt at least somewhat…

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Estate Planning for Blended Families

By Contributor(s) / June 30, 2023 / Comments Off on Estate Planning for Blended Families

Before you get remarried, you and your intended spouse should make a plan for the children and assets each of you are bringing to the marriage. Since you have already experienced a divorce from or the death of your former spouse, you certainly understand the importance of having a plan and making your wishes known to your family members. Start With a Prenuptial Agreement Most people think of prenuptial agreements as protection in case of a…

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Not Sure Where To Invest? Follow the $1.2 Trillion Money Trail

By Contributor(s) / May 19, 2023 / Comments Off on Not Sure Where To Invest? Follow the $1.2 Trillion Money Trail

When this “investor” pumps billions of dollars into an industry, pay attention… Follow the $1.2 trillion money trail… A great way to profit from this megatrend…   1. There’s no guaranteed way to make money in the markets. But following the government’s “money trail” comes pretty close… When politicians in Washington plow billions of dollars into an industry, pay attention. It’s usually a telltale sign to be bullish. Stocks from that sector will likely soar. Just look…

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7 tax-planning provisions in SECURE 2.0 now that filing season is over

By Contributor(s) / May 17, 2023 / Comments Off on 7 tax-planning provisions in SECURE 2.0 now that filing season is over

A sweeping retirement package signed into law last December overhauled the way Americans of all income levels will plan and save for their golden years. With the April 18 federal return filing deadline now in the rearview mirror, investors and financial advisors are confronting a host of provisions that will impact how they game out their tax bills for next and future years. Whether they’re in the top 1% of wealthiest taxpayers, a young gig worker…

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What You Should Know About the Federal Reserve’s New Instant Payments System

By Contributor(s) / May 15, 2023 / Comments Off on What You Should Know About the Federal Reserve’s New Instant Payments System

The use of mobile payment apps and person-to-person (P2P) payments are more popular than ever, giving businesses and consumers the ability to send and receive money instantly. According to a recent study, the share of P2P payments made with mobile apps nearly doubled in one year, increasing from 15% in 2020 to 29% in 2021.1 In response to the growing demand for these types of instant payments services, the Federal Reserve will be launching its own real-time,…

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After significant declines, US stocks have tended to break even quickly.

By Contributor(s) / April 25, 2023 / Comments Off on After significant declines, US stocks have tended to break even quickly.

One year after each of the S&P 500 Index’s 10 worst one-day drops, the Index notched double-digit positive returns in all but one instance—and remained positive three and five years later, too. The chart below doesn’t include reinvested dividends, which would have made returns even higher. Talk to your financial professional today to make sure your portfolio is positioned to help achieve your long-term goals. S&P 500 Price Index is a market capitalization-weighted price index composed…

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Biden Administrations Lays Out Medicare Drug Negotiation Process

By Contributor(s) / April 20, 2023 / Comments Off on Biden Administrations Lays Out Medicare Drug Negotiation Process

The Biden administration on Wednesday began fleshing out how it will implement drug-pricing provisions in the Inflation Reduction Act, including a multi-step negotiation process for selected Medicare drugs starting next year. Why it matters: The law gave the administration discretion to work out many details of the first-ever drug price talks, which will initially cover 10 Part D drugs for which there’s no generic competition. Details: The guidance envisions the Centers for Medicare and Medicaid Services accepting one counteroffer from…

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Social Security Retirement Fund on Track to Go Bust in 2033: Trustees Report

By Contributor(s) / April 18, 2023 / Comments Off on Social Security Retirement Fund on Track to Go Bust in 2033: Trustees Report

The asset reserves of the Social Security Old-Age and Survivors Insurance Trust Fund, which pays benefits to retirees, are projected to become depleted in 2033 — one year sooner than projected last year. However, according to the just-released 2023 trustees report, income from payroll tax revenue is expected to fund 77% of scheduled Social Security benefits in 2033. The Disability Insurance Trust Fund is not projected to run out within the trustees’ 75-year projection period — the same conclusion…

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