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Weekly Economic Update
January 8, 2018
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The Markets (as of market close January 5, 2018)
The first week of 2018 saw equities enjoy a strong start to the New Year. Less than a year after breaking the 20000 mark, the Dow soared past 25000 last week. The wide-ranging S&P 500 also posted a record close and the Nasdaq picked up in 2018 right where it left off in 2017, posting a weekly gain, boosted by surging technology stocks.
Energy stocks were strong as the price of oil rose again last week, but at BWFA we continue to underweight this sector due to the cyclicality of the commodity driven nature of the sector.
As bond prices fell, bond yields moved higher, with the yield on 10-year Treasuries increasing by 6 basis points, and in our portfolios we are under-weighting longer term bonds as we see some principle volatility in these issues given the interest rate environment.
The price of crude oil (WTI) climbed last Friday, up from the prior week and the price of gold (COMEX) rose also, ahead of the prior week
Last Week’s Economic Headlines
- The employment sector finished 2017 in good shape with the unemployment rate, at 4.1%.
- The international trade deficit for goods and services was up from October.
- Purchasing managers noted an improving manufacturing sector in December, according to the survey conducted by IHS Markit, with greater demand spurring acceleration in new orders, stronger production growth, and cost inflation.
- According to the Manufacturing ISM® Report On Business®, supply managers/respondents also reported that economic activity in the manufacturing sector expanded in December. Only employment decreased last month.
- Growth slowed in the services sector in December, according to the Non-Manufacturing ISM® Report On Business®. On the plus side, business managers reported an uptick in employment and prices.
Eye on the Week Ahead
Trading is expected to pick up this week following the prior two holiday-shortened weeks. Inflation indicators for December are available this week, led by the Consumer Price Index. Inflation had been stagnant for much of 2017, although consumer demand for goods and services during the holiday season may nudge prices upward – at least for December.
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Social Security
Tuesday, January 16, 2018
11:45 AM – 1:00 PM
Lunch to be provided
Are you confused by
Social Security benefits?
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Managing Director,
Wealth Management
Only 10 Seats Left!!
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Baltimore-Washington Financial Advisors invites you to this interactive workshop discussion.
Topics to include:
- How work, age and marital status affect your benefits
- Synchronizing your spousal benfits
- Minimizing taxes on your benefits
- Integrating Social Security with other retirement income
Please join us as we discuss these issues and more.
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Wellness: Self-Care Strategies for the Aging Brain
Thursday, January 18, 2018
11:45 AM – 1:00 PM
Lunch to be provided
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Managing Director,
Wealth Management
SOLD OUT!!!
To be put on the wait list,
please email Eve Kennedy
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Baltimore-Washington Financial Advisors invites you to a wellness Seminar Series with Dr. Emily Telfair, N.D.
Topics to include:
- Exploring the relationship between Food and Mood
- Learning about nutrients that boost cognitive function
- Preventing dementia with healthy blood sugar management
- Calming stress and improving memory through mindfulness meditation
Please join us as we discuss these issues and more.
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Making the Most of Medicare
Tuesday, January 23, 2018
11:45 AM – 1:00 PM
Lunch to be provided
90% of Medicare Enrollees over-pay. Will you?
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Managing Director,
Wealth Management
Only 10 Seats Left!
Register today!!!
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Baltimore-Washington Financial Advisors invites you to join us for an informative discussion on the relevant details of Medicare.
Topics to include:
- How to enroll?
- What are the costs?
- How to choose the right plan
- Where to find additional resources
- How to “shop smart” for medicare
Please join us as we discuss these topics and more.
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State of Residence in Retirement
Thursday, January 25, 2018
11:45 AM – 1:00 PM
Lunch to be provided
Which state is best for you?
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Managing Director,
Wealth Management
Only 10 Seats Left!
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Baltimore-Washington Financial Advisors invites you to join us for an informative discussion on where you will live in retirement.
Topics to include:
- What state is best?
- How much will it cost to stay in Maryland?
- How to decide where you will retire
- Should you purchase or rent?
- Healthcare costs by state
- Differences in state and local income taxes
- Estate planning and estate taxes by state
- Property and sales tax by state
- Cost of living by state
Please join us as we discuss these topics and more.
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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
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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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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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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
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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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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
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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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