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Weekly Economic Update
September 18, 2017
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The Markets (as of market close September 15, 2017)
Stocks followed the prior week’s plunge by surging ahead last week. The small caps of the Russell 2000 led the way, followed by the Dow, S&P 500, Nasdaq, and the Global Dow. For the year, the Nasdaq still remains in the lead.
Many of these Nasdaq related companies are found in the BWFA Aggressive Growth category. Those clients in Growth and Income, or Income and Growth models do not have much, if any, exposure in this area. Conversely, Capital Appreciation and Conservative Growth models have benefited this year from their respective exposure in this area. We believe this will be of benefit to these portfolios’ growth prospects over the long term.
The price of crude oil (WTI) closed up from the prior week. The price of gold fell. The national average retail regular gasoline price increased.
Last Week’s Economic Headlines
- The lack of inflationary price pressure in the economy has persisted throughout the summer months. According to the report, Hurricane Harvey had a very small effect on survey response rates in August.
- The prices producers received for goods and services increased slightly in August compared to July. For the last 12 months ended in August, producer prices have increased 2.4%.
- Retail sales to consumers, both online and in store, scaled back in August, decreasing a bit from the previous month.
- The federal deficit sits at $674 billion, up from $619 billion over the same period last year.
- Hurricane Harvey impacted industrial production in August, which declined 0.9% in August following six consecutive monthly gains.
- The number of job openings increased from 6.12 million in June to 6.17 million in July. Notable job increases include transportation, warehousing, and utilities and educational services, with decreases in health care and social assistance and state and local government. Over the 12 months ended in July net employment gained by 2.1 million.
Eye on the Week Ahead
The Federal Open Market Committee meets this week following a break in August. Committee members will cull a mixed bag of economic information, with job growth steady but little inflationary pressure. The FOMC may opt to leave interest rates as they are for the time being, with a possible increase in October in anticipation of more noticeable economic growth during the fall months.
BWFA still looks to alternative investments for income for that area of clients’ portfolios, as there continues to be risk in owning long term bonds given the extended length of time bond prices have been going up (bond interest rates down).
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Selecting your State of Residence in Retirement
Tuesday, September 19, 2017
11:45 AM – 1:00 PM
Lunch will be provided
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Sold Out!!!
Please email Eve Kennedy if you would like to be added to the wait list
ekennedy@bwfa.com
Presented by:
Managing Director,
Wealth Management
Thad Ismart,
CFP®
Senior Financial Planner
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Baltimore Washington Financial Advisors invites you to a discussion on:
- 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
Come join us as we discuss these issues and more!
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What You Need to Know About Retirement –
Before You Retire
Tuesday, September 21, 2017
06:00 PM – 7:30 PM
Dinner will be provided
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Sold Out!!!
Please email Eve Kennedy if you would like to be added to the wait list
Presented by:
Managing Director,
Wealth Management
Thad Ismart,
CFP®
Senior Financial Planner
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Baltimore Washington Financial Advisors invites you to a discussion on:
- 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
Come join us as we discuss these issues and more!
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Estate Planning: How to Avoid Probate Court
with guest speaker
Gary Greenwald, P.C.
Tuesday, September 26, 2017
06:00 PM – 7:30 PM
Dinner will be provided
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Sign up today and secure your spot!!!
Only 13 seats available!
Presented by:
Managing Director,
Wealth Management
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Baltimore Washington Financial Advisors invites you to an estate planning workshop on:
- Avoid the time and expense of probate upon your death
- Reduce the cost of settling your affairs upon your death by 60%-70%
- Be confident that you, and not some court, determines who will be in charge of your assets upon disability or death
- Make sure that if your surviving spouse remarried, the assets you left to him or her pass to your children and grandchildren, and not to his or her new spouse
- Reduce any estate taxes when you die
- Shield the inheritance you are leaving to your children from their creditors and the divorce court
Come join us as we discuss these issues and more!
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PART TWO: Corporate Trust Services
With Special Guest Speaker:
Steve Elville
Thursday, September 28, 2017
11:45 AM – 1:00 PM
Lunch will be provided
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Managing Director,
Wealth Management
Steve Elville, Esq.
Principal
Elville and Associates
Part Two
Limited Seating Available!
Reserve your spot today!
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Baltimore Washington Financial Advisors, Elville and Associates discuss “How Corporate Trust Services could benefit you”
Topics included in Part Two:
- What is a Personal Trust?
- What are some reasons to consider appointing a corporate trustee?
- What should you be concerned about “successor trustee risk?”
Come join us as we discuss these issues and more!
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Making the Most of Medicare
Tuesday, October 3, 2017
11:45 AM – 1:00 PM
Lunch will be provided
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Managing Director,
Wealth Management
Thad Ismart,
CFP®
Senior Financial Planner
Reserve your spot!
Limited Seating Available!
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Baltimore Washington Financial Advisors Invites you to join us for an informative discussion on the relevant details of Medicare.
Topics included:
- How to enroll?
- What are the costs?
- How to choose the right plan?
- Where to find additional resources.
- How to “shop smart” for Medicare.
Come join us as we discuss these issues and more!
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Required Minimum Distributions
Thursday, October 19, 2017
6:00 PM – 7:30 PM
Dinner to be provided
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Managing Director,
Wealth Management
Thad Ismart,
CFP®
Senior Financial Planner
Reserve your spot!
Sign up today!
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If you’re approaching 70, the IRS wants your IRA! Baby boomers who own a traditional IRA, 401(k), 403(b), or other qualified retirement plans 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 your’re not armed with the right information and the right strategy.
Topics included:
- 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 premiums?
Come join us as we discuss these issues and more!
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Tax Planning Strategies
Tuesday, October 24, 2017
11:45 AM – 1:00 PM
Lunch to be provided
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Managing Director,
Wealth Management
Lex Ruygrok, CPA
Tax Consultant
Reserve your spot!
Sign up today!
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Baltimore Washington Financial Advisors invites you to a discussion on lowering your tax bill.
The End of the year is quickly approaching and it’s almost time for taxes. Learn tips and strategies on how to save money when filing your taxes.
Topics included:
- 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
Come join us as we discuss these issues and more!
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Estate Planning: Second Marriages
with Guest Speaker
Gary Greenwald, Esq.
Thursday, October 26, 2017
6:00 PM – 7:30 PM
Dinner to be provided
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Managing Director,
Wealth Management
Gary Greenwald, Esq.
Reserve your spot!
Sign up today!
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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, of your second spouse survives you
- Protect your assets after your death is your new spouse and children do not get a long
- How to have your assets managed if you become disabled or die first?
- Hoe 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
Come join us as we discuss these issues and more!
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