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Weekly Economic Update
September 25, 2017
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The Markets (as of market close September 22, 2017)
The equity markets ended last week mixed, with the large caps of the S&P 500 and Dow posting modest gains, while the tech-heavy Nasdaq fell back a bit. The small-cap Russell 2000 performed the best. Energy stocks climbed as oil prices hit a three-month high, but at BWFA we see this as a short term cyclical move, so we continue to invest away from the energy sector. The yield on 10-year Treasuries climbed as prices fell, which relates to our ongoing stance that longer term bonds might pose principle risk to an otherwise perceived” safe” place in a portfolio. Overall, trading was rather subdued, probably in response to the strong dialogue between the United States and North Korea.
Last Week’s Economic Headlines
- Despite strengthening in the labor market and modest economic growth, the Federal Open Market Committee decided to maintain the target range for the federal funds rate. Inflation has remained below the target, and the recent hurricanes Harvey, Irma, and Maria will likely affect economic activity in the near term. Nevertheless, the Committee indicated that rates could be increased at least one more time before the end of the year.
- Considering the impact of Hurricane Harvey, new home construction in August was solid.
- Sales of existing homes fell in August for the fourth time in the last five months.
- Import prices rose slightly in August, the first monthly increase since a similar jump in April.
- In the week ended September 16, the advance figure for initial claims for unemployment insurance decreased a bit from the previous week’s revised level. Hurricanes Harvey and Irma impacted this week’s initial claims.
Eye on the Week Ahead
September and the third quarter come to an end this week. The final figures for the second-quarter gross domestic product are released this week, as is the August report on consumer income and spending.
The overall equity market has done well this year. Corporate profits in general are still out performing which has contributed to driving higher stock prices. We at BWFA continue to monitor all sectors and favor a diversified portfolio. We expect the Federal Reserve to modestly raise interest rates in December and we are hopeful for some tax reform which we believe is already factored into the stock market.
As always, it is an honor to manage your money and to assist with your financial planning.
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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 10 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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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
Sign up today!
Only 10 seats left!
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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
Limited Seating
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
Limited Seating
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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Elder Law:
Learn What Elder Law Attorneys are Advising Clients in 2017
With Guest Speaker
Steve Elville, Esq.
Tuesday, October 31, 2017
11:45 AM – 1:00 PM
Lunch to be provided
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Managing Director,
Wealth Management
Steve Elville, Esq.
Prinicipal
Elville and Associates
Reserve your spot!
Sign up today!
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Baltimore Washington Financial Advisors and Elville and Associates, invite you to this interactive workshop on “Elder Law.”
“Elder Law attorneys are not just lawyers, they are counselors.”
At this workshop, you will learn that Elder Law Encompasses many things such as:
- Planning for individuals and families who do not have taxable estates, but who are primarily concerned about the protection of the 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
- Social Security issues, Veterans’ Benefits, Senior housing issues
- Powers of Attorney, Advance Medical Directives, wills, trusts and more
Come join us as we discuss these issues and more!
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