As a business owner, planning for retirement can seem like an afterthought amidst the day-to-day demands of running a business. However, having the right retirement savings plan is crucial towards securing your financial future. Fortunately, there are several retirement savings options tailored specifically for business owners. SEP IRA (Simplified Employee Pension). A SEP IRA is one of the easiest and most …
Economic & Market Report: The Bright Side
“Some things in life are bad, they can really make you mad Other things just make you swear and curse. When you’re chewing on life’s gristle, don’t grumble, give a whistle And this’ll help things turn out for the best” -Always Look on the Bright Side of Life, Monty Python, 1979 The U.S stock market has certainly been bad lately. …
Economic & Market Report: Tariffs: Listen to the Music
Talk about tariffs continue to pound the news headlines day after day. Taxing imports on goods from other countries such as Canada, Mexico, and China have potential economic impacts that can be troubling for financial markets. These include slower economic growth and the potential for recession as well as rising prices and the threat of high inflation. Amid the turbulence, …
The Monday Minute: Borrowing Against Retirement Assets
Taking a loan against your retirement account might seem like an easy solution when you need quick cash, but it comes with significant risks that could jeopardize your financial future. Here’s some important things to consider when faced with this decision. First, when you borrow from your retirement account—like a 401(k) —you’re essentially borrowing from your future. While you’ll repay …
The Monday Minute: Pension Lump Sum vs Periodic Payments
When it comes time to retire, one of the biggest decisions some people face is how to access their pension funds. Two common offerings are a lump sum payout or periodic payments. Each has its advantages and possible disadvantages, so understanding them is essential for making the best choice for retirement. A lump sum payout offers immediate access to all …
Economic & Market Report: The Drag 7
The so called ‘Magnificent 7’ is the latest grouping of tech and tech adjacent companies that have dominated the stock market in recent years. Its members include the following names in order of market cap: Apple, NVIDIA, Microsoft, Amazon, Alphabet (ne Google), Meta Platforms (ne Facebook), and Tesla. Together they make up a staggering +32% of the entire weighting of …
The Monday Minute: The Retirement Assessment
The primary purpose of a retirement analysis is to assess whether your current savings, investments, and expected income streams will be enough to cover your future needs. This includes things like monthly living expenses, healthcare, taxes, travel, hobbies, and any big-ticket items you may want to enjoy in retirement. The analysis typically looks at a few key areas: Current Savings …
Economic & Market Report: The Rhythm of the Heat
It has been the primary downside risk confronting financial markets for the last few years: the persistent threat of a renewed rise in inflation. The kindling continues to be placed to reignite a new inflationary blaze. Only time will reveal how high the flames will reach if and when the next fire starts to burn. “Often is the case of …
Economic & Market Report: The Fast & The Furious
Another storm rolled across capital markets to start this week. This time, it was the shock headlines over the weekend that the United States would be instituting tariffs against its close neighbor trade partners Canada and Mexico, which cast doubt on the sustainability of economic growth across the region as well as the potential inflationary impact of such measures. But …
The Monday Minute: Balancing Act – Retirement Savings vs College Savings
As a parent, you want to provide the best for your children, including a quality education. However, the financial pressure of saving for college can often conflict with the equally important goal of securing your retirement. Striking the right balance between these two priorities is crucial. First you must clearly understand your priorities. Start by assessing your financial situation. Consider your …