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Weekly Economic Update
January 22, 2018
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The Markets (as of market close January 19, 2018)
Corporate earnings season entered its second week with generally favorable results, which likely drove equities last week, led by the Dow and Nasdaq, which continue to post strong early-year gains fueled in large part by the technology sector. Apparently, the threat (and eventual occurrence) of a federal government shutdown didn’t curb investor enthusiasm. On the other hand, the government shutdown probably did impact long-term bond prices as the yield on 10-year Treasuries climbed 11 basis points (as prices fall, yields rise), while the U.S. dollar also dropped.
The price of crude oil (WTI) fell to $63.57 per barrel last Friday, and the price of gold (COMEX) also declined last week.
Last Week’s Economic Headlines
- According to the Federal Reserve report, industrial production rose in December, and total industrial production jumped at an annual rate of 8.2%, after being held down in the third quarter by hurricanes Harvey and Irma. The gain in manufacturing output in December was the fourth consecutive monthly increase.
- New residential construction slowed in December. According to the latest Census Bureau report, applications for building permits fell slightly below November’s rate, while new housing starts dropped 8.2% from November’s revised estimate. On the plus side, housing completions in December were up over November’s figures and are 7.4% above the December 2016 rate. A lack of inventory may have propelled home completions in order to get more new homes on the market. This focus on housing completions may have pushed new applications and starts to the back burner.
Eye on the Week Ahead
The first report on the fourth-quarter gross domestic product is out this week. Economic growth exceeded 3.0% in the third quarter and is expected to remain about the same for the last quarter of 2017. Also, reports on the housing sector for December are available this week.
Given the continued positive data from the various economic reports, reflected in solid corporate profits, we continue at BWFA to remain fully invested for clients according to the various investment models selected.
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State of Residence in Retirement
Thursday, January 25, 2018
11:45 AM – 1:00 PM
Lunch to be provided
Which state is best for you?
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Managing Director,
Wealth Management
Only 5 Seats Left!
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Baltimore-Washington Financial Advisors invites you to join us for an informative discussion on where you will live in retirement.
Topics to include:
- 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
Please join us as we discuss these topics and more.
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Retirement:
What You Need to Know Before You Retire
Tuesday, January 30, 2018
11:45 AM – 1:00 PM
Lunch to be provided
Are You Prepared for Retirement?
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Managing Director,
Wealth Management
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Baltimore-Washington Financial Advisors invites you to attend a symposium on implementing and adopting strategies for a succesful retirement.
Topics to include:
- 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
Please join us as we discuss these topics and more.
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The Pitfalls of Annuities
Tuesday, February 6, 2018
11:45 AM – 1:00 PM
Lunch to be provided
The good, the bad – are they right for you?
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Managing Director,
Wealth Management
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Baltimore-Washington Financial Advisors invites you to attend a discussion on the relevant details of annuities.
Topics to include:
- Types of annuities
- Investment or insurance?
- Expenses and costs
- Tax considerations
- Relinquished control of your money
- Aggressive sales tactics
Please join us as we discuss these topics and more.
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Estate Tax Law Changes
With Guest Speaker:
Gary Greenwald, Esq.
Thursday, February 1, 2018
11:45 AM – 1:00 PM
Lunch to be provided
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Presented by:
Gary Greenwald, Esq.
Managing Director,
Wealth Management
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Baltimore-Washington Financial Advisors invites you to an interactive workshop on, “Estate and Tax Law Changes”.
The laws about trusts and estate taxes in Maryland have recently changed. As a result of these new laws, with proper planning, find out how you can:
- Create an estate plan that provides maximum capital gains tax protection for your children and grandchildren.
- Create a trust for your family members that can shield the assets you leave them from: Their Creditors, A bad marriage, and Being dissipated without proper supervision and guidance
- Ensure the settlement of your estate remains private and not a matter of public record
- Preserve and protect your digital assets upon your disability or death
Please join us as we discuss these topics and more.
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New Tax Law
Strategies
Are you ready for Tax Season?
Thursday, February 8, 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 lowering your tax bill!
It is almost time for tax season! Learn tips and strategies regarding the new tax laws.
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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Elder Law
Guest Speaker: Steve Elville
Tuesday, February 13, 2018
11:45 AM – 1:00 PM
Lunch to be provided
Learn what Elder Law Attorneys are advising clients in 2018!
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An Elder Law consultation is an important part of the planning process. Attendees will learn what is involved in an Elder Law consultation, and what Elder Law attorneys are advising clients in elder Law in 2018.
Presented by:
Steve Elville, Esq.
Principal
Elville and Associates
Managing Director,
Wealth Management
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Baltimore-Washington Financial Advisors invites you to an interactive workshop on “Elder Law”.
Elder Law encompasses many things:
- Planning for individuals and families who do not have taxable estates, but who are primarily concerned about the protection of 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, special needs planning, guardianship, Social Security issues, Veteran’s benefits, senior housing issues, powers of attorney, advance medical directives, will, trusts, and more.
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RMD’s:
Required Minimum Distributions
Thursday, February 15, 2018
6:00 PM – 7:30 PM
Dinner to be provided
If you’re approaching 70, the IRS wants your IRA!
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Managing Director,
Wealth Management
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Baby boomers who own a traditional IRA, 401(k), 403(b), or other qualified retirement plan, 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 you’re not armed with the right information and the correct strategy.
Topics to include:
- 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 Premeiums?
Please join us as we discuss these topics and more.
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