For many, a Revocable Living Trust is created as part of an estate plan to determine who will inherit assets and property, rather than relying on a will or owning assets jointly with either a spouse or heirs. It is a type of trust that is established during the trust maker’s lifetime and can be amended as long as the trust maker is alive and well. Assets within the trust can be managed, invested and spent for the trust maker’s benefit during his/her lifetime. At death, a trustee steps in to manage and distribute the property within the trust as outlined in the trust agreement created by the trust maker. Continue reading
Today we bring you a special edition of Inside the Economy with SH&J. As many are now aware, last Friday, 52% of voters elected for the United Kingdom to leave the European Union after a 43 year partnership. While it is not a legally binding referendum, the UK will begin a 2 year clock negotiating the terms of their exit. As a result of the vote, the global markets fell approximately 12% and the U.S. markets fell around 5%.
The jury will be deliberating this unprecedented event for several months or longer but one thing is for sure, markets hate uncertainty and increased volatility is expected over the short term. Although we have been assessing the investment ramifications of a Brexit for some time (knowing that the polls showed the vote would be very close), we don’t necessarily feel it will have any significant impact on the U.S. economy. The correction of the U.S. markets in particular over the past two days, in our opinion, is primarily based on fear of change and has little to do with U.S. economic reality. The same cannot be said for England. Continue reading
As the summer heat rises, the economic news slows down. This week’s Inside the Economy with SH&J focuses on Thursday’s Brexit vote as well as newly released U.S. consumer debt figures. Listen in to find out which U.S. state has risen to the #6 seat in the world’s largest economies and why we likely won’t be seeing interest rate increases this summer.
Life moves quickly and big changes often happen in the blink of an eye. As your life circumstances change, it’s important to meet with your financial planner to discuss the potential impact to your financial plan and goals.
Merging two sets of finances together can be difficult. Shortly after you get married, or even before the big day, meet with your financial planner together. They will help you discuss goals, direction for investments and can create a joint financial plan. Combining assets can be much less stressful when you include your financial planner in the process.
Buying or Selling a Home
Your home is likely the largest purchase you will make in your lifetime. When buying, most real estate agents will recommend you talk with your lender to find out what you qualify for, yet the agent and lender rarely consider any of your other financial goals in the equation. On the selling side, the impact of the sale on your overall financial plan is rarely taken into consideration. Since your financial planner understands and is trying to help you achieve all of your long term goals, talking with him/her before buying or selling a home can help you stay on track and avoid mistakes. Continue reading
Did you know that you can increase your Social Security benefits beyond age 70? Many are now familiar with the delayed retirement credits that individuals earn by delaying collecting their Social Security benefit until age 70. A delayed retirement credit is an 8% increase in your monthly benefit for each year you delay collecting benefits after your “normal retirement age”. Although delayed retirement credits do not continue to accrue beyond age 70, there actually is a way that you can continue to increase your benefits. While many people may not find it feasible to work beyond age 70, those who enjoy their job and continue to work could see an increase to their monthly benefits. Continue reading
This week’s Inside the Economy with SH&J provides updates on the jobs report released last week and the effect it had on the bond market as well as the likelihood for the Federal Reserve to raise rates in June. An increase in average hourly earnings has created a concern about increased automation leading to elimination of some minimum wage jobs or jobs going to more highly educated individuals. Listen in to hear more on the continued inflow of new money into the U.S. from overseas in search of safety and liquidity.
Sometimes, your home is one of the largest investments in your ‘portfolio’. Whether you are looking to stay in your home for a while or are considering selling soon, it’s important to pay attention to which remodeling projects will help you add the most resale value to your home.
According to the Remodeling 2016 Cost vs. Value Report as compiled by www.costvsvalue.com for the Denver area, these are the midrange projects shown to be the best bets when remodeling. Continue reading