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Weekly Economic Update
February 26, 2018
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The Markets (as of market close February 23, 2018)
For the second week in a row, stocks closed the week ahead. Major benchmark indexes ended the holiday-shortened week with marginal gains, led by the Nasdaq, which climbed 1.35%. While equities may have advanced modestly, volatility was prevalent during the week, as investors may be concerned that rising inflation will prompt the Federal Reserve to increase interest rates next month. The price of crude oil continued to climb last week, while the price of gold fell last week to $1,330.70.
Last Week’s Economic Headlines
- Home sales have slowed over the winter months, as existing home sales fell 3.2% in January following a 3.6% drop in December. According to the National Association of Realtors®, sales of existing homes are 4.8% below a year ago, which is the largest annual decline since August 2014. The NAR suggests that a lack of inventory has driven prices higher, pushing some potential buyers out of the market. Nevertheless, total housing inventory at the end of January rose 4.1%, which is still 9.5% lower than a year ago. Unsold inventory is at a 3.4-month supply (3.6 months a year ago). The median existing-home price for all housing types in January was $240,500, up 5.8% from January 2017 ($227,300).
- In the week ended February 17, there were 222,000 initial claims for unemployment insurance, a decrease of 7,000 from the previous week’s level, which was revised down by 1,000. The advance insured unemployment rate slipped to 1.3% for the week ended February 10. The advance number of those receiving unemployment insurance benefits during the week ended February 10 was 1,875,000, a decrease of 73,000 from the prior week’s level, which was revised up 6,000.
Eye on the Week Ahead
The week opens with the January report on new home sales, which slid in December. The second report on the fourth-quarter gross domestic product is out mid-week. The first installment showed annualized economic growth at 2.6%, with consumer spending up a strong 3.8%. This week’s report is based on more detailed information and may change noticeably from last month’s account.
We continue to expect volatility across the major stock indexes, not to mention in areas of the bond market, but remain focused on investments that show solid potential for the long term at good relative value for our BWFA clients.
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New Tax Law
Strategies
Do you have questions regarding the new tax laws?
Tuesday, March 6, 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 how the new tax law will impact your investments and estate plan.
The complexity of the new tax law affects wealth planning, home ownership and investment portfolios in ways that are different for everyone.
Learn how these changes will affect you and your investments and how BWFA is able to assist you along the way.
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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Estate Planning:
How to Avoid Probate Court
Guest Speaker:
Gary Greenwald Esq.
Tuesday, March 6, 2018
6:00 PM – 7:30 PM
Dinner to be provided
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Managing Director,
Wealth Management
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Baltimore-Washington Financial Advisors and Gary Greenwald, Esq. invite you to this interactive workshop on, how to avoid probate court.
At this workshop, you will learn to:
- Reduce the cost of settling your affairs upon your death by 60-70%
- Keep all of your personal affairs private if you become disabled and when you pass
- Avoid the time and expense of probate upon your death
- Be confident that you, and not some court, will be in charge of your assets upon disability or death
Please join us as we discuss these topics and more.
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Assisted Living
Guest Speaker: Steve Elville
Tuesday, March 13, 2018
11:45 AM – 1:00 PM
Lunch to be provided
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Presented by:
Steve Elville, Esq.
Principal
Elville and Associates
Managing Director,
Wealth Management
Reserve your spot!
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Baltimore-Washington Financial Advisors invites you to an interactive workshop on “Selecting an Assisted Living Facility/Community.”
Topics to include:
- Broad overview of assisted living options
- Challenges associated with downsizing
- Cost, amenities, financial stability and quality of care
- Reputation, resident’s rights, estate planning considerations
- Long-term care skilled nursing concerns
- Estate planning considerations
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Roth vs. Traditional IRA
Tuesday, March 20, 2018
11:45 AM – 1:00 PM
Lunch to be provide
Roth IRAs and 401(k)s can be extremely beneficial for retirement investors. This BWFA workshop will show you how to take advantage of both of them.
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Managing Director,
Wealth Management
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Baltimore-Washington Financial Advisors invite you to a discussion on:
- Positioning your assets before you retire
- Reducing your taxes during retirement
- Extending the life of your financial assets
- Creating tax planning flexibility during retirement
Please join us as we discuss these topics and more.
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When a Loved One Passes
Guest Speaker:
Gary Greenwald Esq.
Tuesday, March, 27 2018
11:45 AM – 1:00 PM
Lunch to be provided
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Managing Director,
Wealth Management
Register today!!!
Limited Seating Available!
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Baltimore-Washington Financial Advisors and Gary Greenwald, Esq. invite you to this interactive workshop on, “What to do when a loved one passes away.”
At this workshop, you will learn to:
- What are the first things we should do?
- What happens if he/she has done no estate planning?
- What do you do with his/her trust or will?
- Whould I continue to pay his/her bills?
- What should you do with his/her home?
- What is involved in settling a will or trust?
- Can a will or trust be contested?
Please join us as we discuss these topics and more.
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Estate Planning:
Protecting Your Assets Upon Your Death
Guest Speaker:
Gary Greenwald Esq.
Thursday, April 12, 2018
11:45 AM – 1:00 PM
Lunch to be provided
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Managing Director,
Wealth Management
Register today!!!
Limited Seating Available!
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Baltimore-Washington Financial Advisors and Gary Greenwald, Esq. invite you to this interactive workshop on, “How to protect your bloodline.”
At this workshop, you will learn to:
- If you die first, how you can make sure that the assets you leave your spouse are beyond the reach of his or her creditors?
- If you die first and your surviving spouse remarries, how can you make sure that the assets you leave your spouse do not end up in the hands of his or her next spouse?
- After you and your spouse die, how can you make sure that your assets do not get distributed to your no good son in law or daughter in law (a crowd favorite)!
- How can you make sure thatthe assets you leave your children are managed in such a away that there is something left for your grandchildren?
Please join us as we discuss these topics and more.
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