Are you planning to buy a home this year? As shown in the chart below, the rate of home buying dropped during the Great Recession but has picked up pace in the last few years.
2016 began with a bang (in a bad way) — with the stock market falling in a hurry. In fact, it was the worst 10 day start to a calendar year in history. From the beginning of the year to January 15th, the U.S. stock market (as measured by the S&P 500 Index) had dropped over 8%. The S&P 500 hit its low for 2016 on February 11th, 6 closing at 1829.08, a decline in excess of 10.5% for the year.
Many clients today are caught in the “sandwich generation” where they are caring for elderly parents as well as their children. An important thing for these caregivers to remember is to care for themselves! As in the safety discussion on an airplane, you put on your own oxygen mask first. You can’t help anyone else when you don’t have enough oxygen yourself.
Many Americans who rely on financial professionals to manage their investments have long assumed their advisors are providing them with the very best financial advice.
Unfortunately, too often that has not been the case.
Some advisors are obligated to put their clients’ interests first when making financial recommendations, but many others are not.
It’s a brand new year to create new habits. And creating better financial habits can bring great rewards. Here are some financial self-improvement tips for the months ahead:
Could millennials be practicing better financial habits than baby boomers?
According to a new survey by T. Rowe Price, millennials are doing a better job than their elders. Millennials, who participated in the survey, were more likely to budget and live within their means than Baby Boomers and to live within their means.
One nagging financial worry that some younger adults fear is that they may one day have to support their elderly parents.
The worst time for this financial support arguably happens when grown children are raising their own kids. The prospect of juggling college tuition bills while helping mom and dad get by is a daunting one.
In a lawsuit that took eight years to wind its way to the Supreme Court, 401(k) sponsors were essentially told that they need to be more diligent about the fees that mutual funds are charging their employees' 401(k) accounts. This is a promising development for employees because too many workplace retirement savings plans are stuffed with expensive investment choices.
Investment Planning and Execution: How Stable Is the Strategy? Bottom line, how is your adviser managing your money?