A retirement savings vehicle designed for the smallest businesses. Do you work for yourself? Then take a look at the solo 401(k), which marries a traditional employee retirement savings account to a small business profit-sharing plan. To have a solo 401(k), you must either be the lone worker at your business or its only full-time employee.1 Imagine nearly tripling your … [Read more...] about The Solo 401(k)
Market Update (October 4th, 2019)
In this month’s recap: The Fed cuts interest rates, the price of oil spikes, and trade negotiations between the U.S. and China are rescheduled. THE MONTH IN BRIEF September brought an economic event that was widely expected: a quarter-point cut in short-term interest rates by the Federal Reserve. It also brought an attack on two of the world’s largest oil fields that thr … [Read more...] about Market Update (October 4th, 2019)
Market Update (September 9th, 2019)
In this week’s recap: the three Wall Street benchmarks advance as investors respond to newly scheduled U.S.-China trade talks and see a silver lining in the latest employment and manufacturing data. THE WEEK ON WALL STREET Stocks rose last week, with help from two developments: the announcement of further U.S.-China trade talks as well as August hiring and manufacturing … [Read more...] about Market Update (September 9th, 2019)
Market Update (September 3rd, 2019)
In this week’s recap: Wall Street finishes August with a rally, China decides to pause a potential response to oncoming U.S. tariffs, and two consumer confidence indices send different messages. THE WEEK ON WALL STREET Fears of an impasse in the U.S.-China trade dispute lessened last week. While additional U.S. tariffs on Chinese imports were scheduled to take effect o … [Read more...] about Market Update (September 3rd, 2019)
Market Update (August 26th, 2019)
In this week’s recap: China unveils new tariffs, the U.S. responds in kind, Jerome Powell speaks at Jackson Hole, leading economic indicators rise, and stocks fall. THE WEEK ON WALL STREET Traders assumed that the week’s biggest news event would be Federal Reserve Chairman Jerome Powell’s speech at the annual Jackson Hole banking conference. Instead, China seized the hea … [Read more...] about Market Update (August 26th, 2019)
Cash Balance Plans
More professional practices (and practice groups) should look into them. In corporate America, pension plans are fading away. Only 16% of Fortune 500 companies offered them to full-time employees in 2018, according to Willis Towers Watson research. In contrast, legal, medical, accounting, and engineering firms are keeping the spirit of the traditional pension plan alive by … [Read more...] about Cash Balance Plans
Market Update (August 19th, 2019)
In this week’s recap: equities are hit by considerable volatility, following developments in the bond market as well as the U.S.-China trade dispute. THE WEEK ON WALL STREET U.S. stock indices saw significant ups and downs last week, with traders looking for economic cues from Treasury yields and also developments in the tariff fight between the U.S. and China. … [Read more...] about Market Update (August 19th, 2019)
Market Update (July 29th, 2019)
In this week’s recap: stocks rise, data shows economic growth slowing from the first quarter, and the stage is set for further U.S.-China trade discussions. THE WEEK ON WALL STREET Last week, investors assessed earnings and the initial estimate of second-quarter economic growth, while awaiting the Federal Reserve’s next announcement about interest rates. Stocks rose f … [Read more...] about Market Update (July 29th, 2019)