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The Federal Reserve raised short-term interest rates Wednesday, a widely expected move that President Trump has called “foolish” but that the central bank felt was necessary to keep the U.S. economy thriving. “Our forecast for next year is we’ll still have solid growth next year, declining unemployment and a healthy economy,” Fed Chair Jerome H. Powell said during a…

In a recent LIMRA SRI survey of more than 500 retiree investors, 3 in 10 reported that they are taking regular, systematic withdrawals from their savings and investments. Nearly half reported that they are taking occasional withdrawals, but 26 percent are taking neither systematic nor occasional withdrawals.

LOS ANGELES, Dec. 18, 2018/ PRNewswire/– Fewer than half of retirees agree that they have built a large enough retirement nest egg, with only 16 percent “strongly” agreeing and 30 percent “somewhat” agreeing, according to a new survey by nonprofit Transamerica Center for Retirement Studies.. “Retirees’ circumstances regarding when and how they retired exemplify…

As December winds to a close, you’ll probably see many reports and analyses of how the financial markets behaved this past year- and, of course, you should review your own investment portfolio’s performance. As in most years, you’ll likely see some gains and losses- which may be of particular interest if you want to consider a strategy known as tax harvesting.
11 states have taken action to close the retirement gap

In 2018 alone 16 states and one city have introduced legislation to tackle the growing issue of the retirement savings gap among private-sector workers. Which states and what are the specifics on these newly introduced plans?

This week, we will talk about some unusual IRA rules. Sometimes, federal law allows special benefits for military personnel. One of these special treatments that most people do not know about allows the beneficiary of military death gratuities and Service members Group Life Insurance to contribute funds to a Roth IRA or a Coverdale Education Savings Account.

Dec. 18– Kimberly King had her first car insured with State Farm agent Norman Carver more than 35 years ago. King, 57, of Bloomington, said she doesn’t know what she will do when Carver, 85, also of Bloomington, retires Dec. 31 after a 51- year State Farm career in Victoria. “With State Farm, they came out, gave the estimate of what the damage was and cut a check on the spot,” she…

US stocks are falling again, led by sharp drops in health care companies after a judge in Texas ruled that the 2010 Affordable Care Act is unconstitutional. Hospitals and health insurers are taking some of the biggest losses. Trade tensions between the US and China and Britain’s messy departure from the European Union are also in focus.

The Alabama Securities Commission issued the following news:. Ronald Warren Powell pleaded guilty in the Colbert County Circuit Court on Monday to one count of Securities Fraud for engaging in an act, practice, or course of business which operated as a fraud or deceit upon investors and one count of Insurance Fraud. The plea was announced by Joseph Borg, Director…

The Insured Retirement Institute issued the following news release:. Improving sales, advancement of favorable legislation and demographic trends are among positive factors for the insured retirement industry, according to the Insured Retirement Institute in its State of the Insured Retirement Industry report. “In March, many breathed a sigh of relief…

Based on expectations for economic growth and monetary policy, along with the fiscal tailwinds of government spending, reduced regulation and lower taxes, LPL Financial Research expects 2019 may be a good year for equity investors. The company forecasts GDP growth of 2.75 percent.

New York— Stocks staggered to eight-month lows on Friday after weak economic data from China and Europe set off more worries about the global economy. Major U.S. indexes fell about 2 percent and the Dow Jones Industrial Average dropped as much as 563 points. Sameer Samana, senior global market strategist for Wells Fargo Investment Institute, said investors are…

The holiday season is prime time for charitable giving. Worthy causes ramp up their efforts to get people to give, and in past years, they’ve been able to dangle a nice tax deduction as incentive. In 2017, three-quarters of those in the 90th to 95th income percentile- those who earned between $220,000 and $315,000- claimed the deduction, TPC said.

The end of a tumultuous year is in sight. We had markets surging and crashing, the strongest growth since 2014, and the start of a trade war. Yes, political chaos that overlaid the economy.
Ohio National, Trail, VAs, Annuities, company.

Trail commissions stopped today for any producer who sold a VA with a guaranteed minimum income benefit rider. The company has been sued twice so far by broker-dealers in federal court.

Those are some of the findings in multiple polls of U.S. adults in 2018 by employee benefits provider Unum. Finances, family, and health top stressors. In a January poll of 1,232 U.S. adults, the top causes of stress among all age groups included finances, home life and family relationships, personal health, job responsibilities, and the health of family members.

With the Dow falling hard over the last few weeks and the S&P 500 now below its 50- day moving average for the third time in seven years, investors find themselves wringing their hands in fear and frustration. 2011 and 2015 marked the last time the S&P fell under the 50- day average indicator and in both years, the corrections continued for months.

By Pam Krueger for Iris.xyz. It’ s human nature to want to invest money to make more money, but now millions of everyday consumers also want to know their investments align with their social values. According to Morningstar, $23 trillion has now been invested in stocks which are considered socially responsible.

Global stock indexes are climbing as the market changes course again, reversing some of its losses from last week. Technology and internet companies and retailers are climbing while energy companies rise along with oil prices. British lawmakers called a no-confidence vote in Prime Minister Theresa May, but the British FTSE 100 index and the pound are both higher.
Fixed annuities can make great wealth transfer vehicles.

Positioning a fixed annuity as a wealth transfer vehicle is a great way to help clients ensure they are leaving their lifetime of savings to their heirs as intended.

–The demand for financial advice has increased among individuals’ major or minor financial objectives, according to a study of current workers recently conducted by T. Rowe Price. The study, ” Retirement Savings and Spending: Behaviors and Attitudes toward Financial Advice,” found that since 2017, the need for advice has risen for the majority of the financial…

NEW YORK- U.S. stocks remained volatile Monday as the market took a dive in early trading only to erase those losses later and end slightly higher. Weak economic data in China and Japan and uncertainty over Britain’s status in the European Union knocked down overseas indexes. Tensions between the U.S. and China kept climbing following the detention of Huawei…

–According to the sixth-annual Legg Mason Global Investment Survey, U.S. investors who work with a financial advisor are more than twice as confident they will have enough money to enjoy a comfortable life in retirement. They also reported having more diversified portfolios, less reliance on U.S. stocks, and were markedly more willing to invest in ESG-oriented…

It’s crunch time for Brexit, and investors will be on high alert in the run-up to Christmas. British lawmakers are widely expected to reject on Tuesday Prime Minister Theresa May’s Brexit deal with the European Union. That will open up an array of consequences that could roil financial markets _ especially the British pound _ in the days and weeks to come.

–Come December 13, 2018, thousands of advisors will be out tens of millions of dollars as a result of Ohio National Life Insurance Company’s termination of trailing commission payments on its variable annuities with guaranteed minimum income benefit riders. Those harms are what led to the filing of a federal class action lawsuit by securities attorneys…

Dec. 09– Last week, we looked at some tax planning opportunities that are available to business owners. Charitable Deductions: Tax reform nearly doubled the standard deduction and capped the deduction for state, local and real estate taxes at $10,000 for married filing joint filers. You could also use a Donor Advised Fund.

The Aug. 16 death of Aretha Franklin points out some estate planning issues. You would expect someone of Aretha’s wealth and connections to have a complete estate plan. It has been estimated that 60 percent of U.S. adults do not have a will.

Each week MDRT and AdvisorNews bring readers advice on topics encompassing the financial services industry including case studies, practice management, tips for success and much more.

“I am a Tariff Man,” Trump announced Tuesday to signal his devotion to import taxes- a remark that served to downplay the likelihood of ending his trade war with China. Their meeting last weekend at an economic conference in Argentina produced a 90- day truce, a suspension of further increases in U.S. tariffs on Chinese goods and a pledge by Beijing to buy more U.S….
Why your hiring process should match your company values.

In order to build a healthy company culture, you have to be clear on the values that guide your work. And you have to make sure your team is on the same page.

And when you drill down to the major players that have led the bull market in tech shares for years- the “FAANG” stocks Facebook, Apple, Amazon, Netflix and Google parent Alphabet- it’s a bona fide bloodbath. Facebook has lost more than a third of its value from its highs, and Netflix isn’t far behind. Apple has been sliced by a quarter.

The chief financial officer of the Chinese telecom giant Huawei, Meng Wanzhou, was arrested on Saturday as President Trump and President Xi Jinping of China agreed to a trade truce. A trade deal between the United States and China, which was already facing tense negotiations, looks even more complicated in the wake of the arrest. Mr. Trump undercut those efforts…
Is the inverted yield curve a sign of trouble ahead?

By BRAD MCMILLAN  Yesterday’s market drop reversed all of Monday’s gain and then some, reportedly on growing doubts regarding the exact…

—Doris Day, “Life is Just a Bowl of Cherries”. Those 55 and older can also make a $6,000 “catch-up” contribution, which of course means that next year many nearing retirement can save a total of $25,000. Contribution limits on Health Savings Accounts will top out in 2019 at $3,500— with a $1,000 catch-up contribution allowance for workers 55 and older.

At some time in our lives, most of us have been the recipient of the one-size-fits-all garment. Tongue-in-cheek, we often call these the one-size-fits-nobody garments. Every estate plan should consider a variety of factors that may impact the ultimate estate plan: surviving and deceased family members, disabled or special needs beneficiaries, potential but…

WASHINGTON The Trump administration raised doubts Tuesday about the substance of a U.S.- China trade cease-fire, contributing to a broad stock market plunge and intensifying fears of a global economic slowdown. And China has not confirmed that it made most of the concessions that the Trump administration has claimed. Those lower rates suggested that…
These factors are impacting guaranteed income.

Researchers looked at fixed indexed annuities, deferred income annuities, single premium immediate annuities and variable annuities. Here is what they found.
Apple is usurped by Microsoft on Wall St.

Microsoft has become the most valuable public company in the world, surpassing Apple to claim the title and tying a bow atop a transformative five years for the company. The Redmond tech giant, which had briefly overtaken Apple’ s market capitalization in intraday trading earlier this week, finally closed at No. 1 on Friday, when Microsoft’ s stock price climbed 0.6…

It certainly was my reaction to a recent Wall Street Journal article: The New Retirement Plan: Save Almost Everything, Spend Virtually Nothing. The article features a 38- year-old Seattle lawyer who wants to retire at 40 with $2 million, and she’s well on her way. To accomplish this, she’s saving 70 percent of her $100,000 net income.
Are Wall Streeters Avoiding Women In The #MeToo Era?

No more dinners with female colleagues. Across Wall Street, men are adopting controversial strategies for the# MeToo era and, in the process, making life even harder for women. “It’ s creating a sense of walking on eggshells,” said David Bahnsen, a former managing director at Morgan Stanley who is now an independent adviser overseeing more than $1.5 billion.
The risk of letting clients DIY their financial plan could be detrimental.

Do-it-yourself planning tends to get people in trouble. Your job is to keep them from going down that path.
How much should your clients spent for Christmas? Should they dip into retirement funds to pay for the holiday or use credit cards?

The average American shopper will spend around $975 on holiday gifts, according to past spending trends and estimates from the…