Economic data became more volatile in the final months of last year and the early months of 2019. Some unexpected softness in retail sales and a leveling off of consumer optimism added to the ongoing sluggishness in home sales and business capital investment. The Fed had raised short term rates as the economy grew through […]
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Choosing an Advisor
A good first step in the process of evaluating a financial advisor is to determine what is at the center of the advisor’s approach. Become skeptical, if the advice you receive begins to revolve around products as the solutions to your achieving your goals. Processes, rather than products, should be the primary approach of a […]
Read MoreAsk a Trust Officer: Companion Animal Planning
Dear Trust Officer: Can I provide something for my pets in my will? Didn’t Leona Helmsley set up a trust for her dog? — THOUGHTFUL ANIMAL LOVER DEAR THOUGHTFUL ANIMAL LOVER : Yes, Mrs. Helmsley did create a $12 million trust to care for her pet, Trouble. However, the probate court subsequently reduced the size […]
Read MoreSlowing Growth or Negative Growth
After a positive start, the week’s trading turned negative Wednesday afternoon and the markets finished the week 0.77% lower. Traders weighed the facts behind the Fed’s decision to hold its Fed Funds rate steady and caution was the dominant mood. Chairman Powell’s description of the economy as being “in a good place” were weighed against […]
Read MoreHow do Certified Trust and Financial Advisors Differ from Other Types of Financial Services Providers?
A good number of individuals, businesses, and charitable organizations rely on us to help them grow their wealth, protect their assets, and safeguard their legacies, so that they can command their futures and enjoy their successes. Others rely on us to invest significant sums of money that they have received as a result of an […]
Read MoreSlow and Steady
The anniversary of the 2008-09 financial crisis bottom came and went on March 9. Since early 2009, the U.S. economy has been in one of the shallowest and longest recoveries in history. The 24/7 cable news financial analysts are obviously disappointed in the lack of action. We have had neither a boom nor a bust […]
Read MoreTax or Penalty?
When you owe money to the IRS, does it matter whether it is a tax or a penalty? That question was put to a bankruptcy court recently. John Chesteen filed for bankruptcy in June 2017. The IRS filed a proof of claim for $5,100 in taxes owed. The Service later amended the claim to add […]
Read MoreA 25% Increase
The anticipated consolidation of the post-Christmas rally got underway last week with understandable declines across the board. After a gain of 19.27% in the 41 trading days since Christmas, the S&P 500 eased 2.18%. As has been said many times before, short-term volatility is a feature of investing for growth. These and other days and […]
Read MoreThe Case for 529 Plans
In a recently published Morningstar report, researchers drew upon data from the Federal Reserve Bank’s “Survey of Consumer Finances” and the Sallie Mae/Ipsos survey “How America Saves for College” to create two savings simulations. In the first simulation, families continued on their current course, which relied in part upon using ordinary savings and checking accounts […]
Read MoreChronological Milestones
The S&P 500 finished the week 0.39% higher, its fifth up-week in a row and it is the ninth up-week out of the last ten. The month of February finished 2.97% higher following January’s 7.87% gain. After a string of such gains, even the bulls are expecting a pullback to, as the traders say, consolidate […]
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