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Weekly Economic Update – December 7th, 2015

JOBS REPORT GIVES THE FED A GREEN LIGHT The economy created 211,000 jobs in November – a healthy hiring total that could prompt the Federal Reserve to tighten for the first time since 2006. Job growth has averaged 218,000 over the past three months (the Labor Department just revised October and November job gains upward […]

The First RMD From Your IRA

What you need to know. Provided by Ron Richards When you reach age 701⁄2, the IRS instructs you to start making withdrawals from your Traditional IRA(s).​ These IRA withdrawals are also called Required Minimum Distributions (RMDs). You will make them annually from now on.1​ If you fail to take your annual RMD or take out […]

November 2015 – Monthly Economic Update

THE MONTH IN BRIEF While the Russell 2000 and Nasdaq Composite advanced significantly in November, the S&P 500 did not – the broad U.S. benchmark rose a mere 0.05%. Terrorists took hundreds of lives in France, Lebanon, Nigeria, Mali and Tunisia during the month, and the fear in the wake of those attacks was felt […]

Weekly Economic Update – November 30th, 2015

CONSUMER CONFIDENCE TRENDS DOWN November saw the Conference Board consumer confidence index plummet. It dropped 8.7 points from its revised October mark of 99.1 to 90.4; economists polled by Briefing.com assumed it would rise slightly to 99.6. The CB attributed November’s poor reading (the lowest since September 2014) to declining expectations of job and wage […]

SEP IRAs

Useful savings plans for the smallest businesses. Provided by Ron Richards Do you own a small business with a few employees? Are you self-employed? In either case, the SEP IRA may be the ideal low-cost, easily administered retirement savings plan for you. This is a simple pension plan using a traditional IRA. (SEP stands for […]

Weekly Economic Update – November 23rd, 2015

FED HINTS AT A DECEMBER RATE HIKE Minutes from the October Federal Open Market Committee meeting were released last Wednesday, and they revealed that “most” of the 10 FOMC members thought that conditions for a rate hike “could well be met by the time of the next meeting.” Another passage noted that “it may well […]

Roth 401(k)s for Businesses

What makes this such a prime retirement planning tool? provided by Ron Richards Why are more businesses offering Roth 401(k)s?​ Simply put, more firms are recognizing their advantages – especially when it comes to the retirement planning of professionals, business owners and executives. Tax-free growth.​ Roth 401(k) assets grow without being taxed, as employee contributions […]

Weekly Economic Update – November 16th, 2015

RETAIL PURCHASES UP JUST 0.1% IN OCTOBER The tiny increase was actually an improvement, as retail sales were flat in both August and September. Gas station sales tailed off 0.9% in October, car sales 0.5%; offsetting those declines, online retail purchases were up 1.4% last month, spending at restaurants and bars up 0.5%. The Commerce […]

An Overview of Simple 401(k)s

These lower-cost, easily administered plans may be appealing in a sluggish economy. Provided by Ron Richards What do you know about the SIMPLE 401(k)?​Most business owners have heard of it, yet don’t know much about this retirement savings vehicle. When times are tight, it might be an excellent choice.​Do you have a business with fewer […]

AN OVERVIEW OF SIMPLE 401(k​)​s​

These lower-cost, easily administered plans may be appealing in a sluggish economy. Provided by Ron Richards What do you know about the SIMPLE 401(k)?​Most business owners have heard of it, yet don’t know much about this retirement savings vehicle. When times are tight, it might be an excellent choice.​Do you have a business with fewer […]