Since the 1970s, economists have measured how consumers are feeling about the financial environment, by asking five questions. How would you answer these today if they were asked of you?:
- “Would you say that you (and your family living there) are better off or worse off financially than you were a year ago?
- Now looking ahead–do you think that a year from now you (and your family living there) will be better off financially, or worse off, or just about the same as now?
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What a week. With the Federal Reserve increasing their “target” federal funds rate by a half-percent (the last time it was increased this much was the year 2000), the market responded with a wild ride up, followed by a large drop the next day.
In case you’re wondering how stocks typically respond to moves like this, we thought it would be helpful to look at some of the evidence. How has this worked out in the past, and how much should we worry?
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A few weeks ago, the U.S. House of Representatives overwhelmingly passed (with a vote of 414-5) the “Securing a Strong Retirement Act of 2022” (also known as the SECURE Act 2.0). Although the Senate is supposed to take up a version of its own bill soon, and this is not law yet, we do expect some version of this bill to be passed by year-end.
At 139 pages in length, you have many more exciting things to do with your time. So we thought we’d emphasize the six most relevant changes that would impact most clients:
One: Pushing back the starting age for Required Minimum Distributions (RMDs) again > SEE MORE