KKR, a leading global investment firm, today released“ No Turning Back,” a new Insights piece by Henry McVey, CIO of KKR’ s Balance Sheet and Head of Global Macro and Asset Allocation. Based on a proprietary survey of nearly 50 Chief Investment Officers who collectively oversee over more than $8 trillion dollars in assets, the report examines how leading insurance…
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IRS again defers minimum distribution penalty for IRA beneficiaries
For the fourth year, the the IRS has punted on the matter of required minimum distribution (RMD) penalties for IRA beneficiaries.
Former President Trump's potential plan to exert more influence over the Federal Reserve is alarming experts and investors. Even so, experts say Trump's attempts could seriously harm the U.S. and its role as the center of the financial world. "If it becomes clear that there's going to be a Fed chair that answers to the president, I would expect a dramatic reaction…
If you own a business and you offer a 401 or similar retirement plan to your employees, you'll want to stay current on the various changes affecting these types of accounts. And in 2024, you may find some interesting new developments to consider. To help address this problem, Congress included a provision in Secure 2.0 that allows employers the option to provide…
Thought the Fed would give us an interest-rate break in '24? Think again
Everybody, including the Federal Reserve, is caught in a bind. The Fed's key rate is the federal funds rate, which has been at 5.25% to 5% since July 2023. That was the lesson contained in the first-quarter Gross Domestic Product report economic report released Thursday by the Commerce Department.
A new report published from the 34th annual Retirement Confidence Survey finds workers’ and retirees’ confidence has not yet fully recovered from the significant drop seen in 2023, but majorities remain optimistic about their retirement prospects and the lifestyle they envisioned.
A strong economy and higher inflation numbers so far this year have surprised investors, leading them to push back expectations for Federal Reserve interest rate cuts. Interest-rate futures positions indicate the Fed won't act until July or September, according to the CME FedWatch tool. David Solomon, CEO of vaunted investment bank Goldman Sachs.
At the beginning of the year, investors were euphoric about the potential for interest-rate cuts from the Federal Reserve. As of April 19 a blend of profit numbers for the S&P 500 companies that have reported first-quarter earnings and analyst expectations for those that haven't showed a 0.5% increase in net income for the quarter, according to FactSet.
Lisa McElhone, 44, of Philadelphia, told a federal judge Monday that she dodged taxes owed in Pennsylvania by lying on tax forms about where she and her husband lived. Though they spent most of their time at their $2.5 million Haverford home and, in his case, working out of Par Funding's Old City offices, the couple claimed to be residents of Florida, which has no state…
What tips can you offer retirees with health issues who are planning some trips? If you're traveling abroad, the U.S. consulate or embassy in the countries you're visiting is a good place to get a referral. Or use the International Society of Travel Medicine's directory at ISTM.org.
Stubborn inflation might affect assumptions the Federal Reserve will cut interest rates this year. "Recent data suggest it may take more time than I had previously thought to gain greater confidence in inflation's downward trajectory, before beginning to ease policy," Boston Fed President Susan Collins told Reuters. Q: Will the Federal Reserve still cut rates…
Best practices for identifying compliance risks
Compliance incident management involves identifying, evaluating and mitigating incidents that might constitute breaches of laws, regulations or company policies.
Help parents of special-needs children plan for their financial future
Parents of a child with special needs are haunted by one question: “Who will take care of my child when I’m gone?”
What to do about Medicare and Social Security when you move
Do I need to notify Social Security and Medicare about the move? ANSWER: Yes, if you're a Social Security and Medicare recipient you definitely need to let these Federal agencies know when and where you move so there are no hiccups in your benefits or coverage. You can update both your Social Security and Medicare contact information online by simply using the "My…
The U.S. Federal Reserve has a highly unenviable task— to drive inflation back down to its target rate of just 2%. In June 2022, inflation had soared to a 42- year high of 9%. To the Fed's credit, by June 2023, inflation had declined to 3.1%.
Understanding IRA Required Minimum Distributions
In 2019, IRAs represented one-third of total U.S. retirement assets, providing an important income source for retirees.1 But, just as you formed a strategy and adhered to rules for investing in your IRA, you must also understand when and how to take your required minimum distributions. You are permitted to delay the first distribution until April 1 of the year…
Women are candid about their fears and concerns when it comes to their health.
Trade groups express concern about regulatory process on DOL fiduciary rule
A group of 11 industry trade associations sent a letter to the U.S. Department of Labor and others expressing concerns about the regulatory process with regard to the Department of Labor’s proposed “Retirement Security Rule: Definition of an Investment Advice Fiduciary.”
7 in 10 preretirees say ‘no way’ they can retire at age 65
As more Americans begin turning 65 this year than at any other point in history, many are coming to grips with a cold reality: this is not going to be their parents’ retirement.
Women share their challenges in the financial services industry
As women make their way up the corporate ladder in the largely male-dominated financial services industry, many have faced obstacles.
