September 13, 2021
Thanks to the internet and YouTube, doing-it-yourself has taken on a new life. For example, a young person we know was able to diagnose a problem with his clothes dryer, then order the key part and install it, thus saving the cost of an in-home repair. Information that once might have been hard to find…
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July 19, 2021
The U.S. stock market continued to power along with a well-stimulated economy and COVID reopenings, as the S&P 500 SPDR ETF (SPY) gained 8.4% in the 2nd quarter. The U.S. bond market (as measured by the US Aggregate Bond ETF – AGG) returned 1.8%, and a 60% stock/40% bond portfolio gained 5.7%. Year to date, the…
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June 18, 2021
Your reference guide to 2020 Tax Rates, College Savings Incentives, IRA and 401(k) Contributions, ABLE Accounts, and Social Security Benefits. Please click this LINK.
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June 7, 2021
A trial has been set for August to determine the disposition of Aretha Franklin’s estate. Initially everyone assumed the famous singer had died without a will. However, three hand-written documents were later discovered that appeared to potentially be wills, some under the sofa cushions, and their terms were inconsistent. In particular, questions were raised over…
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May 14, 2021
Last year seniors were given a reprieve from the requirement to take minimum distributions from their IRAs and qualified retirement plans. The suspension of the rules, included in the CARES Act, was enacted at a time when the stock market had moved sharply lower, and so it was intended to prevent a forced emptying of…
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April 19, 2021
The U.S. stock market continued to climb out of and above the hole it dug in 2020, with the S&P 500 SPDR ETF (SPY) gaining 6.4% in the 1st quarter. The U.S. bond market (as measured by the US Aggregate Bond ETF – AGG) declined 3.4%, and a 60% stock/40% bond portfolio gained 2.5%. For…
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March 18, 2021
DEAR TRUST OFFICER: I have $6,000 to put into an IRA before I file my tax return for 2020. Which is better, the traditional IRA or the Roth IRA? — TARDY SAVER DEAR TARDY: There is no simple answer to your question, unfortunately. Do you qualify for the tax deduction for the contribution…
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January 19, 2021
Imagine two archivists sifting through old stock charts 1,000 years from now and saying to each other “2020 must have been a great year!” The U.S. stock market finished a very bad year on a very strong note, with the S&P 500 SPDR ETF (SPY) gaining 12.1% in the 4th quarter. The U.S. bond market (as measured…
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December 23, 2020
Have you ever received a mailer about a “free dinner” at a local restaurant? All you must do to earn your $50 steak and $12 glass of cabernet sauvignon is listen to a “financial advisor” give you a pitch about “strategies to protect your nest-egg,” or “how to ensure a stress-free retirement in these turbulent…
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October 23, 2020
DEAR TRUST OFFICER: I understand that you are a “corporate fiduciary.” What is that exactly? Aren’t you just a different flavor of stockbroker or financial planner?—SHOPPING FOR ADVICE DEAR SHOPPING: “Fiduciary” is a legal term that describes the duties that one party owes to another in a business relationship. A fiduciary duty is the highest…
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