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Weekly Economic Update
January 29, 2018
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The Markets (as of market close January 26, 2018)
Major stock market indexes continue to set records, as the S&P 500 broke its 14th record in January. Favorable corporate earnings reports, a congressional stopgap measure to fund the federal government, and a 2.6% annual rate of growth for the fourth-quarter GDP helped buoy investors’ confidence in equities in the short run. Overall, the benchmark indexes posted their fourth consecutive week of gains, led by the Nasdaq, followed by the S&P 500, the Dow, and the Global Dow, each of which gained nicely. On the other hand, at 2.66%, the yield on 10-year Treasuries rose to its highest level in over four years as demand for long-term bonds fell, while the dollar continued to move downward. On the other hand, the price of crude oil (WTI) climbed up from the prior week’s closing price and the price of gold (COMEX) also rose last week.
Last Week’s Economic Headlines
- As stated above, the gross domestic product increased at an annual rate of 2.6% in the fourth quarter of 2017. Overall, the GDP increased 2.3% in 2017 (that is, from the 2016 annual level to the 2017 annual level), compared with an increase of 1.5% in 2016.
- As referenced in the GDP report, new orders for manufactured durable goods in December increased. Unfilled orders and inventories also increased in December over November.
- Home resales slowed in December, according to the latest report from the National Association of Realtors®.
- Sales of new single-family homes plummeted 9.3% in December from November, according to the Census Bureau. However, new home sales are up 14.1% compared to December 2016. December’s median sales price increased to $335,400 ($334,900 in November), while the average sales price climbed to $398,900 ($383,600 in November). On the plus side of the report, inventory increased from 4.9 months in November to 5.7 months in December.
- According to the latest report from the Census Bureau, the international trade deficit for goods was $71.6 billion in December, up $1.6 billion from November. Exports of goods were $137.6 billion, $3.6 billion more than November exports. Imports of goods for December were $209.2 billion, $5.2 billion more than November imports.
Eye on the Week Ahead
The last few days of January into February include several important economic reports. Personal income, consumer spending, and consumer prices for December are important indicators of economic strength and inflationary pressures in the consumer sector. The latest report on employment is out at the end of the week. The number of hires for new jobs slowed a bit toward the end of 2017. Also, wages are expected to show only marginal growth for December and 2017.
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Retirement:
What You Need to Know Before You Retire
Tuesday, January 30, 2018
11:45 AM – 1:00 PM
Lunch to be provided
Are You Prepared for Retirement?
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Managing Director,
Wealth Management
Limited Seating still available!!!!
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Baltimore-Washington Financial Advisors invites you to attend a symposium on implementing and adopting strategies for a succesful retirement.
Topics to include:
- Avoiding the common mistakes
- Have you saved enough?
- Creating a vision- where will you live, what will you be doing, who will you live near?
- Evaluating your retirement savings
- Social Security
- Healthcare options/choices
- Creating a retirement paycheck
- Tax implications
- Asset allocation strategies for retirement
Please join us as we discuss these topics and more.
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Estate Tax Law Changes
With Guest Speaker:
Gary Greenwald, Esq.
Thursday, February 1, 2018
11:45 AM – 1:00 PM
Lunch to be provided
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Presented by:
Gary Greenwald, Esq.
Managing Director,
Wealth Management
SOLD OUT!!!!
If you would like to be added to the wait list, please email Eve Kennedy
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Baltimore-Washington Financial Advisors invites you to an interactive workshop on, “Estate and Tax Law Changes”.
The laws about trusts and estate taxes in Maryland have recently changed. As a result of these new laws, with proper planning, find out how you can:
- Create an estate plan that provides maximum capital gains tax protection for your children and grandchildren.
- Create a trust for your family members that can shield the assets you leave them from: Their Creditors, A bad marriage, and Being dissipated without proper supervision and guidance
- Ensure the settlement of your estate remains private and not a matter of public record
- Preserve and protect your digital assets upon your disability or death
Please join us as we discuss these topics and more.
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The Pitfalls of Annuities
Tuesday, February 6, 2018
11:45 AM – 1:00 PM
Lunch to be provided
The good, the bad – are they right for you?
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Managing Director,
Wealth Management
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Baltimore-Washington Financial Advisors invites you to attend a discussion on the relevant details of annuities.
Topics to include:
- Types of annuities
- Investment or insurance?
- Expenses and costs
- Tax considerations
- Relinquished control of your money
- Aggressive sales tactics
Please join us as we discuss these topics and more.
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New Tax Law
Strategies
Are you ready for Tax Season?
Thursday, February 8, 2018
11:45 AM – 1:00 PM
Lunch to be provided
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Presented by:
Lex Ruygrok, CPA
Tax Consultant
Managing Director,
Wealth Management
Second session to be offered March 6, 2018.
Register today to reserve your spot!
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Current session
SOLD OUT!!!
Baltimore-Washington Financial Advisors invites you to a discussion on lowering your tax bill!
It is almost time for tax season! Learn tips and strategies regarding the new tax laws.
Topics to include:
- Three tax strategies that will save you money
- Specific tax code provisions that you need to know
- How to lower your tax bill
- How to avoid costly penalties
Please join us as we discuss these topics and more.
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Elder Law
Guest Speaker: Steve Elville
Tuesday, February 13, 2018
11:45 AM – 1:00 PM
Lunch to be provided
Learn what Elder Law Attorneys are advising clients in 2018!
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An Elder Law consultation is an important part of the planning process. Attendees will learn what is involved in an Elder Law consultation, and what Elder Law attorneys are advising clients in elder Law in 2018.
Presented by:
Steve Elville, Esq.
Principal
Elville and Associates
Managing Director,
Wealth Management
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Baltimore-Washington Financial Advisors invites you to an interactive workshop on “Elder Law”.
Elder Law encompasses many things:
- Planning for individuals and families who do not have taxable estates, but who are primarily concerned about the protection of assets and addressing disability and long term care issues
- Medical assistance (Medicaid), Long-term care planning, asset protection, nursing home and assisted living selection and placement, special needs planning, guardianship, Social Security issues, Veteran’s benefits, senior housing issues, powers of attorney, advance medical directives, will, trusts, and more.
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RMD’s:
Required Minimum Distributions
Thursday, February 15, 2018
6:00 PM – 7:30 PM
Dinner to be provided
If you’re approaching 70, the IRS wants your IRA!
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Managing Director,
Wealth Management
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Baby boomers who own a traditional IRA, 401(k), 403(b), or other qualified retirement plan, will soon have to face taking their Required Minimum Distributions (RMD’s). Suddenly, a portion of your tax-deferred savings will be taxable again and the impact on your portfolio could be significant if you’re not armed with the right information and the correct strategy.
Topics to include:
- When do I have to take my RMD – and are there exceptions?
- How much will I have to take out?
- How much will I have to pay in taxes?
- How does it impact my Social Security?
- How does it impact Medicare Premeiums?
Please join us as we discuss these topics and more.
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Estate Planning:
Second Marriages
Guest Speaker:
Gary Greenwald Esq.
Thursday, February 22, 2018
11:45 AM – 1:00 PM
Lunch to be provided
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Managing Director,
Wealth Management
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Baltimore-Washington Financial Advisors and Gary Greenwald, Esq. invite you to this interactive workshop on, “Smart Estate Planning for Second Marriages.”
At this workshop, you will learn to:
- Make sure that your estate is settled in accordance with your wishes, if your second spouse survives you
- Protect your assets after your death if your new spouse and children do not get along
- How to have your assets managed if you become disabled or die first
- How to protect your assets after you pass from a surviving, second spend thrift spouse
- The precautions to take to protect your assets before you marry again
Please join us as we discuss these topics and more.
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New Tax Law
Strategies
Do you have questions regarding the new tax laws?
Tuesday, March 6, 2018
11:45 AM – 1:00 PM
Lunch to be provided
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Presented by:
Lex Ruygrok, CPA
Tax Consultant
Managing Director,
Wealth Management
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Baltimore-Washington Financial Advisors invites you to a discussion on how the new tax law will impact your investments and estate plan.
The complexity of the new tax law affects wealth planning, home ownership and investment portfolios in ways that are different for everyone.
Learn how these changes will affect you and your investments and how BWFA is able to assist you along the way.
Topics to include:
- Three tax strategies that will save you money
- Specific tax code provisions that you need to know
- How to lower your tax bill
- How to avoid costly penalties
Please join us as we discuss these topics and more.
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