As consumers, we know that having a good credit score is important. Whether you are applying for a loan or signing up for a credit card, your credit score plays a major role in determining if you will be approved. Your credit score can also have a significant impact on loan terms and borrowing costs.
Burlington, MA – October 4, 2016 - Axial Financial Group, LLC (AFG) a leading wealth management and financial planning firm, announced the opening of its new Marina Bay office in Quincy, Massachusetts.
ATTENTION LONG TERM CARE INSURANCE OWNER
RECENT CHANGES TO EXISITING POLICIES & THE FINANCIAL IMPACT TO YOU
In recent weeks, many long term care policy owners across the country have been notified of significant rate increases, ranging from 10% to more than 100%. The actual amount of the increase is dependent upon multiple factors including the insurance carrier, state of residence, and policy type.
Writing my last few posts, about the real possibility of lower returns over the next few years, I got to thinking about how financial advisors add value—and how a skilled advisor can really help investors advance toward their financial goals. Full disclosure: I’m talking my book here. (That’s Wall Street slang for talking up something I already own.) I work for a firm that supports financial advisors, my job consists of helping those advisors help their clients, and many of my friends are advisors.
Now that both parties have nailed down their
presidential nominees, it’s time to take a quick look
at politics and how it may affect the economy and
markets this year. As usual, we’ll focus on the policies
that the two candidates have offered and their likely
“Brexit” shocks markets
We woke up on Friday morning, June 24, to headlines about another economic crisis coming out of Europe. This time, the “crisis” is the decision by the U.K. to leave the European Union (EU). A somewhat unexpected outcome of a much-talked-about event, it has rocked markets around the world, including here in the U.S. In the immediate aftermath of the vote, futures were down significantly, showing that the concern is real. You may well share that concern.
Many baby boomers belong to the “Sandwich Generation”—the growing group of people who care for their aging parents while supporting their own children. According to a 2013 USA Today/Gallup poll, 41 percent of baby boomers who have a living parent assist with the parent’s personal care, financial matters, or both. Another 37 percent expect to take on the care of their parents in the future. If you plan to be involved in an elderly parent’s care, it’s important to understand the array of issues that come into play.
It has been an exciting year so far. With U.S. markets dropping 15 percent in the first quarter before rebounding, and many international markets having done worse, the red flag has been raised for market risks. With Europe continuing to wrestle with economic and political challenges, the prospect of a breakup of the union via a British exit (aka Brexit) has never been more real. And with Chinese growth continuing below expectations, we see risk everywhere we look.
As a reminder, on November 2, 2015, President Obama signed the Bipartisan Budget Act of 2015 into law. Among other things, this two-year budget deal contains several provisions designed to close perceived loopholes in social security claiming strategies. Those most likely to be affected by this legislation are individuals who have yet to claim their benefits and who planned to employ the file-and-suspend/restricted spousal application strategies.
General market news
- The 10-year Treasury opened with a yield of 1.98 percent early Monday morning, slightly higher than last week. Treasury yields have climbed steadily since February 24, leading up to this week’s Federal Reserve (Fed) meeting, which will be closely monitored by bond traders.
- Equity markets continued to move in line with oil prices last week, and both extended their gains from February’s lows. The S&P 500 Index gained 1.19 percent on broad strength but is now at a level of strong technical resistance. Last week’s gain put the S&P 500 almost back to breakeven for the year.
As the end of the year approaches, it's time to consider strategies that could help you reduce your tax bill. But most tax tips, suggestions, and strategies are of little practical help without a good understanding of your current tax situation. This is particularly true for year-end planning. You can't know where to go next if you don't know where you are now.
Brad McMillan, Commonwealth Financial Network’s chief investment officer, provides an update on recent difficulties in the U.S. financial markets, as well as ongoing problems in Greece and China. He also discusses U.S. economic performance in June.
Each day between 2011 and 2030, 10,000 baby boomers will celebrate their 65th birthdays. As the boomers grow older, their middle-aged children may find themselves in a challenging situation: providing financial assistance to their parents as well as their own kids.
According to a poll by the Pew Research Center:
- 75 percent of adults believe that they have a responsibility to provide financial assistance to their aging parents.
- 63 percent of adults have given some type of financial support to their grown children in the past year.
Members of the Sandwich Generation—those who are taking care of aging parents while supporting their own children—often come under serious financial and emotional stress. As your parents move into retirement, it’s wise to plan ahead for any financial and legal responsibilities they may expect you to take on.
The recently passed Health Care Reform Act has made waves on Capitol Hill—and spawned a veritable frenzy in the media—but you still may be left scratching your head as to how the changes impact you. Of course, there is no way of telling how the act could impact the economy as a whole (or the political sphere), but there are key points regarding its implementation that individuals and business owners will find relevant—now or in the near future—for their personal bottom lines.