Last year, the average American spent nearly $1,000 per person on holiday gifts, up from about $885 per person in 2018.1 Though the COVID-19 pandemic continues to weigh on the retail sector (and many Americans’ bank accounts), some analysts have cited reduced spending on travel, restaurants, and entertainment in predicting a slight uptick in holiday retail sales for 2020.2 But … Read more
A strong earnings rebound in 2021 may allow stocks to grow into somewhat elevated valuations. We see an S&P 500 Index fair value target range of 3,850–3,900 in 2021, based on a price-to-earnings ratio of around 20 and our preliminary 2022 earnings per share estimate of $190, with potential for upside with better-than-expected vaccine progress. Read more … Read more
With the end of the tax year fast approaching, you may want to find ways to minimize your tax liability. Implementing one or more of the simple strategies discussed below may allow you to hold on to more of your earnings, potentially grow your wealth, and help lessen the taxes owed on your annual return. … Read more
More than most years, it’s hard to look ahead to the next year, to 2021, without looking back at 2020. A global pandemic, a massive economic collapse, a bear market, a surprisingly sharp reversal, a hotly contested election where passions ran high, the impact of lockdowns — it was an unusual year of extraordinary challenges. … Read more
COVID-19 cases have been on the rise in the US, particularly in the Midwest. This latest wave of the virus and related restrictions have begun to hamstring economic growth at a time when momentum was already fading as we entered the fourth quarter, based on the December iteration of the Federal Reserve (Fed)’s Beige Book. … Read more
We continue to monitor real-time COVID-19 and economic data to provide insight into how the pandemic is affecting economies around the world. Traditional economic data sometimes can be too slow to pick up the changes that are occurring. Today we focus on Europe. “The high-frequency data shows that the recovery from COVID-19 related economic disruption … Read more
Stimulus talks in Washington, DC, are getting a lot of attention from investors—and for good reason. The midpoint of the two offers—roughly $1.6 trillion from the White House and $2.2 trillion from US House Democrats—is about 9% of last year’s US gross domestic product (source: Bureau of Labor Statistics). That’s a big deal in terms … Read more
From the financial pressures of running a small practice to the repayment of hefty student loans, these three careers (and the people who pursue them) can have more in common than you may think. Those working in the medical, legal, and accounting fields can have complex financial needs, and a financial professional who doesn’t regularly deal with … Read more
Financial planning is an important part of securing your current lifestyle as well as preparing yourself for what you wish to do in your eventual retirement. And while this importance may look different during each stage of your life, it doesn’t make it any less important. Whether you call yourself a baby boomer, hail from the Gen … Read more
When the markets are shaky, it can be tempting to rely on political headlines or pending legislation to time your entry or exit points. However, letting politics drive your investment decisions can be a costly mistake. Learn more about what helps market trends endure beyond political administrations and why you should ignore the noise and … Read more
Go out into your yard and dig a big hole. Every month, throw $50 into it, but don’t take any money out until you’re ready to buy a house, send your child to college, or retire. It sounds a little crazy, doesn’t it? But that’s what investing without setting clear-cut goals is like. If you’re … Read more
In recent months, we have warmed up to Europe as a destination for equity investments in global portfolios. Through July, Europe had done a relatively good job containing the first wave of COVID-19, and cases were plummeting to multi-month lows. Meanwhile, the United States was struggling with its second wave—or perhaps the second phase of … Read more
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