Understanding the Fed's New Inflation Goals By: Stacey Nickens In August, the Federal Reserve announced that they may allow inflation to rise slightly above its 2% target to compensate for years with depressed inflation rates. This move is a shift from the Fed's inflation targeting practices, where the Fed would reduce stimulus or increase interest [...]
The Stock Market This Week: August 24-28 By: Stacey Nickens On Monday, major indexes climbed after the FDA granted emergency-use authorization of a convalescent plasma treatment for serious COVID-19 cases. The S&P 500 rose 1%. The Dow Jones gained 1.4%, and the Nasdaq climbed 0.6%. Cyclical stocks responded positively to the news. Financials, industrials, materials, [...]
Tip of the Day: You Can "Return" Social Security Benefits By: Stacey Nickens I always recommend that clients delay taking Social Security benefits in order to increase their benefit. However, pretend you claimed your benefit at 63 right before receiving a good job opportunity. You can still withdraw your Social Security application within a year [...]
Positions I'm Watching: JPMorgan By: Stacey Nickens JPMorgan is one of the financially strongest banks. During the 2008 recession, they were able to weather the storm without government assistance. I thus anticipate that JPMorgan will maintain its strength and quality moving forward. Moreover, their shares are currently undervalued, making it a great time to buy [...]
Positions I'm Watching: Home Improvement Stores By: Stacey Nickens With people stuck at home, more consumers are spending money on home improvement projects than ever before. Last week, Home Depot reported the highest quarterly growth in sales in almost 20 years. These numbers suggest that consumers are spending money on their homes that would normally [...]
Stacey's 5 Investment Tips for Fall 2020 By: Stacey Nickens The last few months have brought significant financial uncertainty. Heading into the fall, many of us are wondering how COVID-19, the presidential election, and other events will impact the stock market. With so many unknowns, how can you best ensure that your portfolio will see [...]
The Stock Market This Week: August 17-21 By: Stacey Nickens On Monday, the S&P 500 and Nasdaq both gained due to the strong performance of mega-caps and other stable businesses. The S&P 500 added 0.3%, and the Nasdaq rose 1%. Investors focused on more defensive positions as U.S.-China tensions continued to escalate, coronavirus relief talks [...]
Q&A: I'm the owner of a small business. What retirement plan options do I have for my employees? By: Stacey Nickens There are three main retirement plan options for small business owners: SIMPLE IRAs, SEP IRAs, and 401(k)s. Let's review each of these plans and their rules. SIMPLE IRAs The Savings Incentive Match Plan [...]
Fraud Alert: The FDIC Still Protects Depositors By: Stacey Nickens Recently, rumors have been spreading that savings accounts and CDs are "subject to seizure" should a bank fail. These rumors claim that depositors are now treated as unsecured creditors of the bank due to a new law. However, the Federal Deposit Insurance Corporation (FDIC) has [...]
Tip of the Day: Consider Converting Your RMD to a Roth IRA By: Stacey Nickens If you have a retirement account, you will need to withdraw a certain amount of funds from it each year once you turn 72. This amount is called a Required Minimum Distribution (RMD). However, due to the CARES Act, no [...]
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