Stretch IRA Rules May Change – Retirement Planning

Kent Forsey, CFP® Inheritances, IRA's, Taxes

A widely used method to defer taxes and benefit your children or grandchildren with your unused retirement funds is about to change as new rules are being imposed on distribution of funds from Inherited IRAs, also known as Stretch IRAs. Both the House of Representatives and the Senate have drafted their own versions of the new rules.  The House has …

China No Longer Biggest Trade Partner With U.S. – International Trade

Kent Forsey, CFP® Emerging Markets, Tariffs, Trade Policies

This is an important fact to remember with all the media focus on tariffs with China. The United States maintains a favorable trading relationship with many countries all over the world, yet only a handful encompass the bulk of all trading activity. For years, Mexico, China and Canada have been the top three trading partners with the United States, sending …

Macro Overview – August 2019

Kent Forsey, CFP® Bonds, Dow Jones, Economic Update, Economy, Euro, Macro Overview, Stock Indices, Tariffs, World Economies

Trade tensions escalated as the U.S. announced a 10% tariff commencing September 1st on $300 billion of Chinese imports that haven’t yet been subject to any tariffs.  The additional tariffs would essentially apply to nearly all imports from China.  Another $250 billion in Chinese imports have already been subject to a 25% tariff for the past few months. While this …

IRS Scams – Consumer Awareness July 2019

Kent Forsey, CFP® Data Breach, Identity Theft, IRS, Scams, Tax Returns

Attempted financial scams seem to happen to all of us at some point.  An awareness of the many new ways they can happen is key to making sure you don’t get pulled into them.  Identity theft and stolen funds are becoming a growing risk as thieves have devised clever methods of masking IRS communications.  Various government entities have identified some …

Macro Overview – June 2019

Kent Forsey, CFP® Mortgage Rates, Tariffs, Trade Policies, Treasury Bonds, Unemployment Rates

The “firehose” of information available nowadays makes it difficult to focus on what topics are really affecting the market.  Here is a good summary of this month’s most important issues. The ongoing trade dispute between the U.S. and China escalated in May as the U.S. signaled that it had not finalized a deal yet with China.  The lack of a …

Social Security Falls Short On Projections

Kent Forsey, CFP® Social Security

Taking full advantage of employer 401(k) or other retirement benefits will continue to be vital to successful retirement planning as reduced social security benefits  becomes more likely the longer Congress waits to take action. A U.S. Government report compiled and released by the Government Accountability Office (GAO) found that 48 percent of individuals 55 and older had no retirement savings …

What To Keep & What To Toss – Tax & Finance

Kent Forsey, CFP® Records to Keep, Tax Returns, Taxes

Every year, as I make my way through piles and files of receipts and statements, I question myself on what to keep and what to shred.  I know I am not alone in this obstacle. The idea is to toss out what you don’t need anymore, yet keep what you might need for taxes and accounting purposes. Here are some …

Tax Rule Changes To Be Aware Of When Filing

Kent Forsey, CFP® Tax Returns, Taxes

In the middle of filing your taxes?  Keep these changes in mind. This tax season is the first year where all of the changes and provisions passed under the Tax Cuts & Jobs Act are affecting both individual taxpayers and companies with broad changes for deductions and tax rates.  The changes, effective January 1, 2019, affect most every tax payer …

Emerging Markets Drive Global Growth – International Review

Kent Forsey, CFP® Emerging Markets, GDP

Understanding the health and direction of emerging markets is an important component to successful investing in the U.S.  Although the actual position of emerging markets in most portfolios is small, they have a big impact with U.S. companies as they represent a growing market place for many U.S. products and services. Each year, the World Bank conducts an extensive survey …

Macro Overview – February 2019

Kent Forsey, CFP® Debt Limit, Macro Overview, Stocks, Taxes

Here is a quick summation of the major issues that are driving market volatility both to the upside and downside on a daily basis. A resilient U.S. economy drove equity markets to the best January in 30 years, propelling stock indices to new year gains which had not been seen since January 1989. Job and wage growth skirted the government …