The first six months of 2024 in the domestic equity markets mirrored how 2023 finished, with the S&P 500 up by nearly 15%. This strong performance widened the gap between domestic and foreign stocks, with the U.S. outperforming by over 10%. One of the driving factors in this disparity is the heavier weighting of the
Charitable giving is an important goal for many individuals and families. As people age and their wealth evolves so too should the manner in which they give. While cash and appreciated securities are the two most popular methods of giving available to everyone regardless of age, the option of giving via qualified charitable donations (QCDs) is oftentimes the most beneficial way for retirees to give.
For those entering the workforce or those that have been working for years, but only now have the capacity to begin saving for retirement, figuring out where to start can feel like a daunting task for many. Questions like “What type of account should I use?” “What is the difference between a Roth and a Traditional retirement plan?” “How much should I contribute?” and “What investments should I choose?” are common and can be overwhelming. Let us try to offer some structure to help you get started.
While fraud risk is nothing new, it is worth reminding ourselves that it is out there and a constant risk to all of us. In addition to reminding ourselves, it is important to take the time to educate our kids and grandkids of the risks, help them identify red flags, and develop prudent practices to help avoid being victimized. It is also important to keep our parents in mind too given the rise of elder abuse. Nearly everyone in my family – across generations – has had recent attempts (VERY convincing in one case) of being conned. I have seen more and more articles lately – there is one in today’s Wall Street Journal about check fraud – about the growing frequency and sophistication of fraudsters’ efforts so I thought it would be worth putting this email together to remind us all of ways to protect ourselves.
Given the collapses of Silicon Valley Bank and Signature Bank, the topic of FDIC insurance has come up more lately than it has at any point since the financial crisis of 2008. We do not write this piece out of any sort of fear. We do not have concerns about the strength of the overall banking system. And given the precedent the Fed set in guaranteeing all depositors of the two recently failed banks, there is an argument to be made that any subsequent failures would be met with a similar guarantee. This piece was written for informative purposes for those cash heavy depositors who feel safer relying on the FDIC coverage rather than possible further Fed intervention.
Most are familiar with the $250,000 limit that is commonly cited in the media. However, not all are as familiar with the rules that allow depositors to have well beyond the $250,000 coverage amount at a single bank. How much additional coverage that is available depends on one’s circumstances and account titling. FDIC coverage is not relevant within your investment account; this only pertains to banking accounts. |
TRIFECTA CAPITAL ADVISORS
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Northbrook, IL 60062 847-495-2464 |
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