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From monthly archives: November 2019

We are pleased to present below all posts archived in 'November 2019'. If you still can't find what you are looking for, try using the search box.

Market Month: October 2019

The Markets (as of market close October 31, 2019) Investors continued to buy stocks, pushing values higher in October. Each of the benchmark indexes listed here posted solid monthly gains despite signs that the economy is slowing, both domestically and globally. Businesses remain hesitant to invest in nonresidential structures, equipment, and software, exports are lagging in volume, and prices remain subdued. Manufacturing continues to wane, and residential sales have been erratic at best. However, there may be headway in the negotiations between the United States and China, as the two economic giants try to resolve their ongoing trade war (although rhetoric from either side changes almost daily). The labor market continues to add new jobs, although wage inflation was muted last month. Since the beginning of the year, interest rates have been reduced by 75 basis points to their lowest levels since May 2018. The last day of the month saw the House of Representatives pass a resolution establishing a framewor ...

Tips for Managing Your Holiday Spending

Like almost everything else these days, the holidays have become a barrage of options and choices, with nearly limitless opportunities to overspend. Here are some tips to help you make sure your family's spending remains in check this holiday season. Develop a spending strategy First and foremost, develop a budget. Involving family members will help you establish and maintain realistic expectations at the outset. Remember to include not just gifts, but also holiday meals and parties, travel, greeting cards and stamps, gift wrap, decorations, and any other category you deem necessary. This is also a good time to commit to using cash or charging no more than you can pay off in one month. Next, devise a method of tracking all your purchases, receipts, gift recipients, and the locations of hidden gifts that you might otherwise forget about. This will make life easier as the chaos ramps up. Review your credit cards to see if you have any perks. Could you use earned points for travel, or cash-back ...

Don't Want to End Up in Business with a Total Stranger? Have the Right Documents in Place.

One of the keys to happiness in life is marrying the right person. We guard ourselves against marrying the wrong person and we certainly avoid marrying people at random. Likewise, a key to successful business is working with the right partners. Much like the perfect union, business partners often rely on each other for the success of their business and their economic prosperity. Business owners are careful to avoid going into business with the wrong person and they do not pick random partners. Business ownership is more fluid than marriage. Partners may come and go from a business by buying and selling equity in the venture. Often, these moves are constrained by carefully negotiated partnership agreements, and new partners only enter the business with approval of existing partners. Sometimes, however, the law will dictate that a partner must transfer his or her equity to an unrelated party, allowing new partners into a business without approval of the other partners. David Frederick, J.D., LL ...

A Lifetime of Retirement Saving

In the 20th century, the American retirement system was supported by three financial legs: employer pensions, Social Security, and an employee’s personal savings. Essentially, employees shared the responsibility of saving for retirement with their employers and the federal government. Life is different in the 21st century. Now employer pensions are all but history, and there is constant concern for the viability of Social Security. Employees are now principally responsible for saving for their own retirement. Fortunately, employees today tend to have broad access to retirement accounts such as 401(k) accounts, Individual Retirement Accounts (IRAs), and Roth accounts. These accounts provide substantial incentives and benefits for retirement savings. Even with these tools, retirement saving is a lifetime endeavor that requires constant diligence and perseverance. David Frederick, J.D., LL.M., SVP First Bank Wealth Management The Early Years Retirement savings is most effective ...

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