Interest rates on new federal student loans change each year based upon results of the May 10-year Treasury auction. The 2017 auction closed last week. Although the Department of Education has yet to officially announce the new rates expectations are: The rate on federal Stafford Loans for undergraduates will likely rise from 3.76% to 4.45%. [...]
As one of the oldest and best-known indexes the DJIA is not only a benchmark for the world’s largest stock market but, also, a barometer of global confidence. This chart details the DJIA’s performance since 1896. It’s interesting to note how the highs and lows have reflected the U.S. economy. Greater still is [...]
In response to regulatory pressure and settlement of lawsuits with 32 states the Big Three of credit reporting – Equifax, Experian and TransUnion – have decided to omit certain negative items from the credit reports of consumers. Examples include: Tax-lien and civil-judgment data that don’t include a complete list of at least three data points [...]
Yesterday JPMorgan Chase & Co announced it sent some wealth management customers letters notifying them that they will be moved to the firm’s self-directed platform ahead of a pending Labor Department retirement regulation. Following their product-pushing brethren (banks, brokerage firms and insurance companies) it’s the latest move that puts themselves ahead of their customers. For [...]
Back in November we wrote about the spin coming from Wall St ahead of the Dept of Labor's Fiduciary Rule. We were skeptical of the Wall St sales machine's intentions. It seems we were right to do so. In response to the Fiduciary Rule's delay and expectation it will be gutted (or completely killed) Merrill [...]
How did the DJIA perform in 2016? What were the drivers? How does that compare over the trailing 10 years? Let's have a look...
Many brokerage firms and insurance companies speak from both sides of their mouths. Surprised? We shouldn’t be. The marketing departments of these firms promote the idea that employees are trusted advisors providing personalized investment advice. Conversely in an attempt to avoid complying with the upcoming fiduciary rule (i.e. doing what’s in the best interest of [...]
The typical investor is almost always his/her own worst enemy. Overconfidence, behavioral biases and emotional decisions conspire to ensure investment returns trail not only most major asset classes but even inflation. Consider the ROR of the average investor over the past 20 years: 2 SOURCES: JPMorgan Asset Management, Barclays, FactSet, S&P, Dalbar. 60/40 and 40/60 [...]
Special Needs Trusts (“SNTs”) are a common estate planning tool used to improve the quality of life of individuals with special needs. When properly drafted they integrate with governmental benefits ensuring assets are used to supplement (rather than disqualify an individual for) governmental benefits. On December 13, 2016, President Obama signed the 21st Century Cures [...]
The IRS has issued the 2017 optional standard mileage rates for calculating the deductible costs of operating an automobile. Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. Effective Jan 1st the standard rates for a car, van, pickup truck or panel truck [...]