I’ll be away for the next couple of weeks, and by the time you and I speak again I expect interest rates – and the average daily temperature – to be in a declining trend.
Federal Reserve policymakers are meeting this week and are widely expected to announce the first of several interest rate cuts. As we have pointed out over the last few editions of Wealth and Wisdom, the jobs market appears to be leading U.S. economic growth lower, prompting the Fed to respond. Whether slowing growth tips us into recession is the subject for another day.
In the meantime, this might be a great opportunity for you to visit our new educational website – HelpMeRetirePod.com – and start catching up on some podcast episodes and blog posts we’ve recently added. See you soon!
The cost to attend some U.S. colleges is closing in on $100,000 per year – and the list includes one well-known university in St. Louis. (Reading time: 3 minutes)
We are bombarded with financial commentary and advice on a daily basis – much of it a waste of time. The trick is knowing how to spot the nonsense. (Reading time: 4 minutes)
A client recently sent me this article on how to spot the difference – including some tips on achieving wealth on an average income. (Reading time: 5 minutes)
Well over half of them are based in the United States – and the top five are technology companies. A fascinating list. (Reading time: 2 minutes)
Heed the advice of those who went before you – and try to avoid the mistakes they made before they stopped working. (Reading time: 6 minutes)
Recent research says about half of middle-income Americans now plan to work past age 65. (Reading time: 4 minutes)
Here are 4 things you and your spouse need to know about Social Security retirement benefits. (Reading time: 4 minutes)
Nearly a quarter of Americans age 65 and older will need long-term care for 5 years or more – and most of it will come from unpaid family members. (Reading time: 6 minutes)
What to do before, during, and after you come into a large sum of money. (Reading time: 4 minutes)
If you’re trying to control your monthly spending, pay down debt, or build a cash reserve – start your search for savings here. (Reading time: 4 minutes)
Words to the Wise
“Smart people don't wait for luck to make them wealthy. Every day, they cultivate habits and follow rules that others don't. If you want to be wealthy, live below your means. Pay yourself first and build wealth, not a lifestyle that saddles you with expenses.”
– Paul Merriman
Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.
Links are being provided for informational purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members.
The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of Brown Family Wealth Advisors and not necessarily those of Raymond James. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Expressions of opinion are as of this date and are subject to change without notice. Past performance does not guarantee future results. Prior to making an investment decision, please consult with your financial advisor about your individual situation.
The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market.
Investors should consider, before investing, whether the investor’s or the designated beneficiary’s home state offers any tax or other benefits that are only available for investment in such state’s 529 savings plan. Such benefits include financial aid, scholarship funds, and protection from creditors. There is also a risk that these plans may lose money or not perform well enough to cover education costs as anticipated. Most states offer their own 529 programs, which may provide advantages and benefits exclusively for their residents. The tax implications can vary significantly from state to state.
Unless certain criteria are met, Roth IRA owners must be 59 ½ or older and have held the IRA for five years before tax-free withdrawals are permitted. Additionally, each converted amount may be subject to its own five-year holding period. Converting a traditional IRA into a Roth IRA has tax implications. Investors should consult a tax advisor before deciding to do a conversion.
Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Brown Family Wealth Advisors is not a registered broker/dealer and is independent of Raymond James Financial Services.
These policies have exclusions and/or limitations. Guarantees are based on claims paying ability of the issuing company. Long Term Care Insurance or Asset Based Long Term Care Insurance Products may not be suitable for all investors. Surrender charges may apply for early withdrawals and, if made prior to age 59 ½ may be subject to a 10% federal tax penalty in addition to any gains being taxed as ordinary income. The cost and availability of Long Term Care insurance depend on factors such as age, health, and the type and amount of insurance purchased. Please consult with a licensed financial professional when considering your insurance options.
Dividends are not guaranteed and must be authorized by the company’s board of directors.
Roth 401(k) plans are long-term retirement savings vehicles. Contributions to a Roth 401(k) are never tax deductible, but if certain conditions are met, distributions will be completely income tax free. Unlike Roth IRAs, Roth 401(k) participants are subject to required minimum distributions at age 72 (70 ½ if you reached 70 ½ before January 1, 2020).
