Markets continued to rise for the second quarter in a row and the S&P 500 stayed on a stable upward path over the last five months. For the quarter the S&P total return rose an impressive 10.6% which we attribute to good economic data on inflation and the economy...
Major changes are coming to the real estate industry which will shift the way we have historically bought and sold homes. A powerful group, the National Association of Realtors has agreed to a rule change on how real estate agents are compensated which could be a big deal for homebuyers.
The 2023 fiscal year-end government funding bill contained legislation that makes the most significant changes to the U.S. retirement savings system in decades. The SECURE 2.0 Act builds on retirement savings changes passed in 2019 and contains new provisions that further raise the required minimum distribution (RMD) age, shift to automatic plan enrollment and provide for new matching/emergency withdrawal opportunities.
With January being designated as “Financial Wellness Month,” we encourage you to start the new year embracing new possibilities and setting financial goals as a first step in working toward a more secure financial future. It’s a great time to work on improving your financial health and to take a hard look at our financial habits. We have put together our checklist of Top 10 areas to focus on to identify your priorities, along with tips to help you kick-start your Financial Wellness program for 2024.
Last year, we titled our outlook piece “Prospects Brighten as Fed Slows” with the focus on the Federal Reserve because we believed it held the majority of control over the path of the economy and financial markets. That was the correct narrative as we waited with bated breath for every monthly economic report on prices, jobs, wages, and interest rates, which all went the direction we wanted.
The year 2023 was the investment year we had all hoped for, but no one was expecting. Coming off 2022, which saw double digit declines in both equities and fixed income, most Wall Street economists called for a 100% chance of recession in the U.S. economy in 2023. The “Great American Job Market” had other ideas. With inflation coming under control and unemployment rates at historic lows, the American consumer remained strong, corporate balance sheets shrugged off higher interest rates, and the S&P 500 ended the year up an impressive 26.3% total return.
We cant believe the winter holidays are right around the corner. Please find our highly anticipated Holiday Gift List for 2023. We believe we have something for everyone.
Given the rising cost of a college education, many grandparents and family members are looking to help contribute to education expenses for their grandchildren and relatives. While it is possible to pay tuition to universities directly and be exempt from gift taxes, this exemption only applies to tuition payments, and non-tuition expenses can comprise up to 50% of total expenses for college students.
On October 4, 2023, Governor Maura Healey signed H.4104, “An Act to Improve the Commonwealth’s Competitiveness, Affordability, and Equity”, which consolidates the separately passed House and Senate tax bills. This significant tax relief package impacts the estate tax, clarifies the new “Millionaires tax,” and reduces the short-term capital gains rate.
The third quarter saw equities go from modestly positive in July (S&P 500 rose 3.2%), to slightly negative in August (S&P 500 fell -1.6%), to unfavorably negative in September (S&P 500 fell -4.8%). Sentiment turned wary after a strong double-digit gain in the S&P 500.
If you find yourself with a bit of extra time on your hands in the upcoming months, you may want to use this time to check in with your family’s finances.
In general, markets continued to gain strength in the second quarter after the first quarter bounce back. We finished the first half the year in a much better state than most had anticipated. Leading the quarterly index performance once again, was the S&P 500 Index.
Do these relaxing summer days have you contemplating early retirement before age 65? The Pandemic and Working from Home (WFH) has more people contemplating retiring early. By planning and being realistic, you can move toward an early retirement with a greater level of confidence.
This gorgeous weather has us thinking about summer plans and what we will be reading. Each year, we take great pleasure in curating our Sandy Cove Reading List, gathering suggestions for our clients, friends, and family.
Markets bounced back into positive territory in the first quarter of 2023 after posting difficult double-digit declines in 2022.