Your financial adviser should not only manage your portfolio for investment returns, but for tax efficiency as well. While tax loss harvesting is often considered at the end of the year, this classic strategy can and should be used by advisers throughout the year to help control their clients’ tax liability. By working closely with our clients and their tax advisers, our experts are able to keep in mind other income that could be offset by tax loss selling.
If you are disabled and unable to work, you may be eligible for a government-sponsored disability insurance program. Learn more in this week’s Insurance Tip.
Stocks stepped up Wednesday. Brands posted gains on a variety of economic news. Pending homes sales declined at a steeper rate than anticipated in May.
Your cash tips are subject to income, Medicare and Social Security taxes, so they’re a frequent audit item by the IRS. We explain in this week’s Tax Tip.
Indices ended trading in the green zone on Tuesday. Brands bounced back somewhat from two sessions of steep selling. Energy stocks such as Exxon Mobil, Royal Dutch Shell, and Chevron led the rebound amid a lift in crude oil.
New rules offer students more protection when excess financial aid is added to a prepaid college debit or credit card. We explain in this week’s Financial Tip.
Stocks traded lower on Monday in the aftermath of the Brexit vote. Financial brands led the way down, followed by technology and energy shares.
This week on “Money Talks,” Senior Managing Associate and Principal, Jennifer Thomas, CFP®, joins hosts Matt Hames, CTFA, and Troy Harmon, CFA, CVA, to discuss the week’s market moves ahead of the Brexit vote. They touch on housing news, including housing starts, existing and new home sales, and mortgage applications. The hosts explore the advice on simplifying one’s finances in retirement by reducing the number of accounts and aiming for simpler portfolio design. As usual, they also answer listeners’ questions, including three Vanguard funds, Bunge Ltd. vs. Archer Daniels Midland, their opinions on online retirement calculators and LyondellBassell Industries.
Our experts discuss the theory of “simplification rarely makes for bad advice” when it comes to your finances in retirement.
Indices closed in green territory on Monday, even though several stocks finished off peak levels as momentum faded in the late afternoon. West Texas Intermediate crude oil tacked on 2.5% to settle at $49.19 a barrel. Stocks continued to trade into the green zone on Tuesday with Technology stocks leading the way. The positive moves came in anticipation of Federal Reserve Chair Janet Yellen’s semiannual testimony before the House Financial Services Committee in Washington. Midweek, investors proceeded with caution ahead of the Brexit referendum vote, when U.K. citizens would vote on whether to leave the European Union. Existing home sales ticked up in May with sales increasing by 1.8% from April’s revised level and also up by 4.5% from May 2015. On another note, crude oil took a breather amid a smaller-than-expected decrease in inventories. Energy Information Administration data showed reserves dipped by 900,000 barrels over the past week versus an expected decline of 1.7 million barrels. West Texas Intermediate crude oil shed 1.4% today to settle at $49.13 a barrel. The markets closed on a positive note on Thursday with Financial and Energy companies leading the way ahead of the final count of the Brexit referendum vote in the U.K. Labor Department data showed initial jobless claims decreased last week, dipping by 18,000 to 259,000, versus expectations of 270,000. Additionally, new home sales declined in May as Commerce Department figures showed sales fell by 6% to a 551,000 annualized rate versus 586,000 in April. On Friday, stocks sold off on news of the Brexit voting results. The pro-exit vote weighed on the U.S. financial markets and oil prices. West Texas Intermediate crude oil shed 4.9% to settle at $47.64 a barrel. Consumer confidence dipped in June, with a final measure of 93.5, down 0.8 point from the preliminary reading, and 1.2 points off of May’s result.