Weekly Market Review – December 21, 2019
Stock Markets Heading into the Christmas-holiday shortened trading week, stocks are set to finish the year strong. The S&P 500 has now posted 31 all-time highs in 2019, driven by sizable gains in the technology sector, progress on Brexit, the U.S./China trade front, and continued strength in the U.S. jobs market. Despite an impeachment vote […]
The unpleasant surprise waiting for you when you retire? Taxes
Tax-deferred accounts are great, until they aren’t—when we have to pay taxes on our withdrawals. Millions of Americans have tax-deferred accounts, pundits laud them, companies help fund them, institutions service them and markets help them grow. But when it comes time to empty them, often the only person to guide us is Uncle Sam, who’s […]
Congress approves major changes to how you save for retirement
The biggest legislative changes to America’s retirement system in 13 years are on their way. On Thursday, the U.S. Senate approved a spending bill that includes the bipartisan Secure Act, which aims to increase the ranks of retirement savers and the amount they put away. The measure — which passed the House earlier this week […]
You may be surprised by who carries the most credit card debt
Credit card debt is expensive and diverts cash that could be used to build an emergency fund or make contributions to a retirement account. And low minimum payments can trap you into decades of debt. Bankrate.com released a survey this past week about who is carrying the most credit card debt, and the findings were […]
If you’re a business owner, grab this 20% tax break before the year ends
Entrepreneurs hoping to pocket some tax deductions for 2019 shouldn’t forget a new 20% break. The qualified business income or QBI deduction made its debut in 2018, a feature of the Tax Cuts and Jobs Act. The new write-off allows owners of “pass-through” entities, including S-corporations and partnerships, to deduct up to 20% of their […]