Key market drivers last week included a big miss on the April jobs report and another heavy week of earnings reports. U.S. equity markets finished modestly higher led by the cyclicals (energy, financials, industrials, materials) with lagging performance in consumer discretionaries, utilities, REITs, and technology.
IPIWeekly for the week of May 7 2021
FOR THE WEEK OF APRIL 23, 2021, click the link above.
Key market drivers last week included a good slate of corporate earnings, encouraging global PMI data, and more details about the Biden plans for increasing taxes and spending. Equity markets finished with minor gains primarily concentrated in REITs, healthcare, and cyclicals and yet another new record high for the S&P500. (click link to read more…
The housing market during the coronavirus pandemic has certainly been notable. Historically low interest rates resulted in record homebuying, even as housing prices escalated.1
Fortunately, the mortgage industry has been able to keep up with the pace of the real estate market by utilizing already existing technology. Homebuyers can search for lenders, compare interest rates, and apply for mortgages online. In addition, mortgage lenders are able to do alternative appraisals, perform safe home inspections, and conduct closings electronically. Continue reading “Five Tips to Follow When Applying for a Mortgage”
Financial aid is essential for many families, even more so now in light of COVID-19. How much do you know about this important piece of the college financing puzzle? Continue reading “Test Your Knowledge of College Financial Aid”
In March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The legislation included a provision that allowed qualified retirement plan participants and IRA account holders to take penalty-free early distributions totaling no more than $100,000 between January 1 and December 31, 2020. If you took advantage of this measure, here’s what you need to know for tax filing. Continue reading “Tax Filing Information for Coronavirus Distributions”
The prospect of being unable to work due to an illness or injury may seem remote to many of us, particularly during our younger working years. However, the COVID-19 pandemic has increased the chances of getting sick and not being able to work for an extended period, making disability income insurance (DI) more important than ever, regardless of your age.
Health insurance may pay for some of the medical expenses related to your illness, but it won’t cover your lost wages if you can’t work. And while many employers offer some form of sick leave, it may not last long enough to cover the length of time you can’t work. Disability income insurance pays a portion of your salary if you are unable to work due to an injury or illness. But will DI cover you if you can’t work due to COVID-19? Continue reading “COVID-19 and the Importance of Disability Income Insurance”
Every year, the Internal Revenue Service announces cost-of-living adjustments that affect contribution limits for retirement plans and various tax deduction, exclusion, exemption, and threshold amounts. Here are a few of the key adjustments for 2021. Continue reading “Key Retirement and Tax Numbers for 2021”
Charitable giving can play an important role in many estate plans. Philanthropy cannot only give you great personal satisfaction, it can also give you a current income tax deduction, let you avoid capital gains tax, and reduce the amount of taxes your estate may owe when you die.
There are many ways to give to charity. You can make gifts during your lifetime or at your death. You can make gifts outright or use a trust. You can name a charity as a beneficiary in your will, or designate a charity as a beneficiary of your retirement plan or life insurance policy. Or, if your gift is substantial, you can establish a private foundation, community foundation, or donor-advised fund. Continue reading “Charitable Giving”
As people move through different stages of life, there are new financial opportunities and potential pitfalls around every corner. Here are common money mistakes to watch out for at every age. Continue reading “Watch Out for These Financial Pitfalls in the New Year”