June 2021

Posted on July 16th, 2021

Monthly Market Recap

General market trends continued to hold in May as data pointed to a strong economy, with the US Purchasing Managers’ Indices for both manufacturing and services rising to their highest levels on record.  That, coupled with potential of large infrastructure spending and the Fed’s release of notes from an April meeting indicated that discussions had started about tapering some of the monetary stimulus; however, that talk was walked back by Chairman Jerome Powell. 

Consistent with both themes: Value stocks trounced Growth stocks and positive returns were enjoyed for assets generally thought to be a hedge against inflation; those being real estate and commodities.

New Legislation to Increase Retirement Saving

By Anne Zavaglia, CFP® 

Retirement saving continues to be a pressing issue for most Americans, as many reach retirement age with little to no savings. The SECURE Act, which was signed into law at the end of 2019, brought the first major legislative changes to retirement since 2006.  Looking to build upon and expand provisions in the SECURE Act, several bills are currently making their way through Congress.

Three Reasons to Keep Your Personal and Business Finances Separate

If you are launching a new venture, you may wonder whether it’s necessary to open a dedicated bank account for your business. Even if your company is established and already has separate checking and credit-card accounts, you may be tempted to pay business expenses from personal accounts on occasion — or vice versa — particularly during tough times.

Decisions, Decisions: Weighing the Pros and Cons of an IRA Rollover

If you lose a job, switch employers, or step into retirement, you might consider rolling your retirement plan savings into an IRA. But this isn’t your only option; it could make more sense to keep the money in your previous employer’s plan or move it to your new employer’s plan (if allowed by the plan).

Considerations When Making Gifts to Children

If you make significant gifts to your children or someone else’s children (perhaps a grandchild, a nephew, or a niece), or if someone else makes gifts to your children, there are a number of things to consider.