Two-thirds (67%) of U.S. adults expect the economy will enter into recession later this year – a key finding from Northwestern Mutual’s newly released 2023 Planning & Progress Study exploring Americans’ attitudes and behaviors toward their finances.
News, trends and helpful peer advice for financial advisors.
Every year, investors use 529 plans to save for their loved ones' educations. A recent change to U.S. law provides more flexibility for 529 plan assets. In December 2022, SECURE Act 2.0 was signed into law to enhance retirement savings opportunities for Americans.
Mother’s Day: More than a day to buy flowers
Mother’s Day is a good time to reflect on the monetary value of the work mothers do for their families and for society.
Study: confidence in having adequate retirement savings drops
Americans’ confidence in having enough money to live comfortably in retirement declined significantly in 2023, according to a recent survey.
When you go to the doctor, you explain what feels wrong or share your symptoms for them to diagnose the problem. The same is true for our business as financial advisors.
Depending on who you ask, the U.S. economy is either headed for a soft landing post-recession or an apocalyptic downturn the likes the world hasn't seen since the Great Depression. While the truth probably lies somewhere in the middle, both schools of thought seem to have the same villain at the center of the issue: Federal Reserve Chairman Jerome Powell.
Kent Lawayne Edlin was indicted on eight counts of securities fraud by a grand jury on May 4, 2023. Edlin…
—The Bank of England is set to raise interest rates later Thursday to their highest level since late 2008 as it continues to combat stubbornly high inflation in the U.K.. Other major central banks, such as the U.S. Federal Reserve and the European Central Bank, have also been raising interest rates at a consistent pace in order to get inflation rates down from…
Many analysts don't think the economy will get weak enough to force the Federal Reserve to cut interest rates this year. But market guru Jeremy Siegel anticipates several months of job losses later this year. If the Fed doesn't answer with rate reductions, the stock market's rally may be done for the year, the Wharton School finance professor told CNBC.
When an emergency occurs and you need cash, that lump of money sitting in your retirement account suddenly looks very tempting. Secondly, even if you fall into one of the exceptions that waives the 10% early withdrawal penalty, you'll need proof for the IRS. For example, if you are withdrawing $7,000 for medical expenses, you'll need to have receipts for $7,000 in…
Apollo expects to pull wealthy investors into alternatives with new annuity, investment vehicle
Apollo Global Management has high hopes for two new products that it expects will interest high-net-worth investors in alternative investments.
Retirement is about YOU— your values, your priorities and your dreams for the future. Is there a "right" time to retire? If you begin collecting Social Security benefits as soon as you are eligible, your benefits may be 25% to 30% less than they would be if you wait until age 66 or 67.
Retirement can be a time of great joy and relaxation, but it can also be a time of stress and anxiety. Transitioning from working life to retirement can be challenging, and the loss of routine, identity and social connections can be difficult to navigate. Moreover, retirement can bring new financial and health-related concerns, adding to many retirees' stress.
The U.S. Federal Reserve has once again hiked interest that it charges banks in the wake of continued elevated inflation— which peaked at 9.1 percent in June 2022— in a bid to calm what has been a lingering problem for the overheating economy, which slowed down to 1.1 percent annualized growth in the first quarter. Usually, the central bank eventually gets its own…
Research found that while 46% of financial advisers say they are comfortable with their current growth rate, a mere 12% strongly agree with that sentiment.
Allianz Investment Management launched two new Buffered Exchange Traded Funds.
The key to financial freedom? Open conversations, survey finds
It’s time we had the money talk, say 66% of Americans, who say conversations about money are the key to financial freedom. But taboos remain.
May 6— NAUGATUCK— A federal grand jury has indicted a former Naugatuck man with fraud and money laundering offenses for running an investment scam that defrauded at least dozen people out of more than $550,000. Rafael Muzzi, 27, of Brazil, has been charged with 12 counts of wire fraud and two counts of money laundering in connection with the scheme, according to the…
U.S. officials said they were monitoring the banking sector for signs of fraud back in March. The source also pointed out that the U.S. Securities and Exchange Commission warned in March that it was carefully watching market stability and would prosecute any form of misconduct during the collapse of Silicon Valley Bank and Signature Bank– two regional banks…
May 4— The Adna School District was defrauded of $346,000 through what school officials have called a "sophisticated phishing scam," according to Adna Superintendent Thad Nelson. The district announced the fraud in a detailed email to The Chronicle on Thursday, noting that after the activity was confirmed, the district notified the FBI, the Washington state…