The markets are entering a “dead period”—the Fed won’t meet again until September; U.S. legislators on one of their extended breaks; Europeans go on vacation en masse; and Americans squeeze in their last vacations before school gets underway. With it goes lower trading volume, but does this quiet period reduce the risk of a market
U.S. economy returns to growth after winter downturn. The U.S. economy grew at a seasonally adjusted 4% in the second quarter, according to numbers released last week from the Commerce Department, topping most economists’ forecasts. This was a nice rebound from the first quarter’s steep contraction of 2.1%--the worst single quarter downturn in five years.
We have consulted over the past year with a number of clients and friends dealing with the serious illness of a family member. Indeed, we have dealt with this in our own families, and have gained what feels like a lifetime of experience compressed into a single year. This week we share a few things
This week we examine tools and techniques for more peace of mind in retirement. It is a companion to last week’s blog addressing some of the reasons retirees can run out of money. Retirement Account Participants Can Purchase Longevity Annuities. Under the new rules issued by the IRS, those with IRAs or 401(k) plans will be allowed to
“Our parents ran out of money.” The parents did not fit the profile of a couple that would run out of money. It was surprising. They were typical of the best of the old Southern gentry. He went to Washington & Lee, served his country in World War II, and got his MBA from Wharton.
I received a note this week from a young man completing his undergraduate studies: Thank you to everyone who has supported me and helped me to get where I am today. I wouldn’t be who I am without the people I have in my life. It is self-evident that a strong support network helps young
In our world of investment management and financial planning, uncertainty begets questions: sometimes the best reply to any of them is It Depends. This week we examine several current issues where It Depends. When will the Fed hike rates? It depends. What will the conflict in Iraq mean for the economy and investors—it depends. Will
Global growth appears to be gathering momentum after an unusual cold snap in the U.S. The employment picture has improved with four months of sustained job growth. And, inflation is firmly under control, with the implication that stock and bond markets are fairly valued in a low interest rate environment. Outlook for Global Growth. The
My college education would have been more difficult if it were not for a gift from my grandfather, a timberman with the Ayer & Lord Tie Company. His ability to earn a remarkable living would not have been possible without his faithful wife, mother of their 11 children. For the gift I will be forever
After a first quarter slump that appears weather-related, the economy appears to be picking up steam again. Economist Martin Feldstein sees faster growth ahead. Consumers are more confident, and the Index of Leading Economic Indicators is advancing. America’s Move to Faster Growth. Output appears to be on track for the economy to grow at a