Economic Update 12/15/14
AMERICANS BUY MORE, SENTIMENT INDEX SOARS Commerce Department data showed retail sales jumping 0.7% for November – the best monthly advance recorded in a year. More good news came from the University of Michigan – its initial December consumer sentiment index came in at 93.8, way up from 88.8 at the end of last month.…
Read MoreSelling a Business? Use These Strategies to Save on Taxes
Discover a pair of underappreciated exit planning vehicles. Charitable remainder unit trusts (CRUTs) and charitable remainder annuity trusts (CRATs) are commonly seen as estate planning tools. What frequently goes unseen is their value in exit planning for business owners. Does it look like you will sell your company to a third party? Do your “second…
Read MoreSudden Wealth Radio – Interview with Joe Cordell
Economic Update 12/08/14
ECONOMY ADDS 321,000 JOBS November 2014 was the best month for hiring since January 2012. Analysts polled by MarketWatch had projected payrolls expanding by 235,000 jobs last month, and that forecast was trumped. While seasonal jobs constituted 50,000 of the new positions, professional and business hires comprised 86,000 more. The Labor Department also found average…
Read MoreRetirement Planning
2015 will bring COLAs, changes & something new. Each year, the retirement benefits landscape looks a little different, and next year is no exception. Here’s a look at what will change, what might develop, and even what won’t change for 2015. The 401(k) contribution limit expands $500 to $18,000 next year. The catch-up contribution limit…
Read MoreFinancial Planning Tips 2015
What financial, business or life priorities do you need to address for 2015? Now is a good time to think about the investing, saving or budgeting methods you could employ toward specific objectives. Some year-end financial moves may prove crucial to the pursuit of those goals as well. What can you do to lower your…
Read MoreFinancial Planning Tips Checklist For 2014
The end of a year makes us think about last-minute things we need to address and good habits we want to start keeping. To that end, here are seven aspects of your financial life to think about as this year leads into the next… Your investments. Review your approach to investing and make sure it…
Read MoreYear End Money Tips to Consider
What has changed for you in 2014? Did you start a new job or leave a job behind? Did you retire? Did you start a family? If notable changes occurred in your personal or professional life, then you will want to review your finances before this year ends and 2015 begins. Even if your 2014…
Read MoreWhat You Need To Know About a Solo 401(k)
A solo 401(k) lets a self-employed individual set up a 401(k) plan combined with a profit-sharing plan. You can create one of these if you work for yourself or if you own a small business with just 1-2 full-time employees including yourself (the second FTE must be your spouse). Reduce your tax bill while you…
Read MoreWhat You Need to Know About Social Security (2015)
Social Security benefits are increasing 1.7% in 2015. This marks the fourth straight yearly cost-of-living adjustment, following a 1.5% COLA for 2014. Next year, the average monthly Social Security payment for a single retiree increases by $22 to $1,328. The average retired couple will get $2,176 per month in 2015 (a $36 monthly increase). A…
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