Coming off of a week of some volatility in the markets, Larry addresses many of the concerns investors felt. Touching on the revised U.S. GDP, the S&P 500, and U.S. corporate profits, Larry shows how good the economy here looks. He also delves into the German economy and explains why it’s more important to the U.S. economy than China and wraps up with a prediction for the 2016 election. An educational week this week — encourage your friends and family to listen in!
Planners
The 411 on 529 Plans: Taking Saving for College to the Next Level
Having children creates a host of concerns, the least of which is how to save money for college. On top of paying for sports equipment, piano lessons and karate classes, parents’ thoughts soon turn to paying for tuition, books and housing. But a little early planning can help mitigate a lot of worrying down the road, and a lot of people find that a 529 College Savings Plan is a good solution.
What is a 529 Plan?
Developed in 1996, 529 plans were designed to help families save money for higher education without paying taxes on the investment. As such, 529 plans are exempt from federal taxes if the proceeds are used for qualified higher education purposes. Most states, including Colorado, will also allow you to deduct your contributions to the plan for state tax purposes.
Any adult can open a 529 plan account for themselves or for someone else, usually a child or grandchild. Another benefit of such a plan is that anyone, whether they own the account or not, can contribute to the account. So if you open an account for your child, anyone you know can make a contribution directly to the account.
Meet Karlton Childress
Name: Karlton Childress
Title: Shareholder and Certified Financial Planner™
SH&J team member since: September, 2000
What do you find most inspiring about being a financial planner?
What I find most inspiring is having the opportunity to help people fully understand and take control of their financial picture so that they can confidently concentrate on other non-financial aspects of their lives and reach their full potential.
Inside the Economy with SH&J: August 17, 2015
The S&P 500’s possible correction, the surprise of the Yuan’s devaluation and the Fed’s looming decision are all topics covered in this week’s Inside the Economy with SH&J. Larry also touches on the decline in mortgage delinquencies and overall consumer debt, and gives some commentary on student debt. Listen in and get up to speed on the U.S. and global economy.
Inside the Economy with SH&J: August 3, 2015
The U.S. GDP number was released and despite what the media might say, Larry thinks it’s a pretty good number. While the U.S. GDP is looking good, growth around the world has slowed and it doesn’t look like there will be an increase in consumer demand anytime soon. Larry also walks us through emerging markets such as South Korea and shares his thoughts on wages, new jobs, household assets and more in this week’s Inside the Economy with SH&J.
Inside the Economy with SH&J: July 20, 2015
The middle class isn’t growing, businesses are looking for a competent labor force and our ‘Greece next door’, Puerto Rico, can’t pay it’s $72B debt — all in this week’s Inside the Economy. Larry also covers the excitement in China’s markets, growth potential in Europe and touches on good news for Italy and France. While Larry may say there isn’t much excitement in the economy this week, a lot of worthwhile questions are raised by the SH&J team during the discussion. Listening in will bring you up to speed on many U.S. and global economic issues.
Meet Julie Fletcher
Name: Julie Fletcher
Title: Certified Financial Planner™
SH&J team member since: October, 2013
You have been a financial planner at Sharkey, Howes & Javer for over a year. What do you enjoy most about working here?
This firm truly acts in the best interest of our clients. There is no such thing as “sales” in this office, which minimizes the stress level and frees up time to spend on problem solving instead.
Inside the Economy with SH&J: July 6, 2015
Did you know, Greece’s fall is likely affecting China’s market? Larry delves into what Greece’s current state of affairs really means, reminds us their economy is about the size of Somalia’s and shares his thoughts on “dumping inflation on the citizens.” Stateside, Larry covers some interesting economic factors in the U.S. including the Federal Reserve’s balance sheet, wages, interest rates and the municipal bond market. A must listen for those who want to stay up to speed on the global and local economy.
Inside the Economy with SH&J: June 22, 2015
Our first economic discussion of the ‘official’ summer covered everything from the recent bond rally to household debt and the CBO’s forecast for Congress. Larry answers an interesting question on HELOCs and provides some commentary on education’s ‘last gas.’ A quick 15 minutes will bring you up to speed on the economy and provide some dinnertime discussion. Listen now!
Inside the Economy with SH&J: June 8, 2015
Though this week’s Inside the Economy is shorter than usual, it is full of interesting tidbits worth knowing. Larry goes into detail on the U.S. GDP’s recent correction, shares important notes on the labor market and unemployment, and takes us around the globe from Europe to China. He also touches on the S&P 500’s ‘less exciting’ trend, as well as the bond market’s increase in volatility. Listen in and share your comments and questions below.
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