In case you missed it:
The Federal Reserve reduced the benchmark U.S. interest rate for the third time this year Wednesday in an effort to boost the economy as the trade war and a global slowdown threaten to drag the U.S. economy down.
But it also signaled that its campaign of rate cuts has likely come to an end for now, with Fed Chair Jerome H. Powell telling reporters that the current stance was "appropriate."
Fed leaders have stressed that they do not see a recession on the horizon. Instead, they have sought to portray these rate reductions as "insurance" cuts that are meant to give the economy extra protection in a world of rising uncertainty.
The central bank lowered the benchmark interest rate a quarter of a percentage point to a range of 1.5 percent to 1.75 percent. The move should trigger mortgage, auto and personal loan rates to fall, making it cheaper to borrow money. Home prices and home sales have ticked up somewhat since the Fed began lowering rates in late July.
By Jamie Hopkins
I love working and connecting with financial advisors – not for the details of financial planning, but because behind every person is a unique story with feelings, family dynamics, and a reason they love this profession.
One such professional I have known for years is Andrew Komarow, MSFS, CFP, AEP, AIF, BFA, CAP, CASL, CHFC, ChSNC, CLU, FSCP, REBC, RHU, RICP. Yes, there is in fact someone who has more designations than me!
What makes Andrew unique is not his dedication to financial planning education, but his role as founder and president of Planning Across the Spectrum, an organization dedicated to building a network of financial service professionals and other organizations who help special needs individuals and their families, especially those who are impacted by conditions often associated with the autism spectrum disorder. Andrew himself has been diagnosed with autism, which he believes has given him unique advantages for helping others when it comes to financial planning …
This week, AdvisorNews asked financial planners across the country: What are the most frequently asked questions you hear from your clients? Here’s what they had to say:
- Will I have enough money for retirement?
- Will I outlive my money?
- Are we going into a recession?
- If so, how will a recession affect my retirement?
- Is my portfolio safe?
- What happens when I die? Do I need a Will or Trust?
- Do I need life insurance?
- What is the best way to pay for my kids’ education?