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Weekly Economic Update
October 3, 2017
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The Markets (as of market close September 29, 2017)
The large caps of the Dow and S&P 500 closed last week with moderate gains, while small caps of the Russell 2000 enjoyed substantial gains. The Nasdaq continues to lead in the year-to-date race. Analysts suspect that the Trump administration’s proposed tax plan, if passed, would add to the federal deficit. This possibility has helped push long-term Treasury yields higher in anticipation of the issuance of more government bonds to offset the deficit. Also last week, the price of crude oil continued to climb and the price of gold fell.
Last Week’s Economic Headlines
- The value of the goods and services produced by the economy measured by gross domestic product increased in the second quarter. This may be providing evidence that the economy is slowly but steadily gaining momentum heading into the third quarter.
- August saw personal income (pre-tax), disposable personal income (after-tax), and consumer expenditures increase over July.
- Sales of single-family homes dropped in August from July.
- Manufacturers of durable goods saw a rebound in new orders and shipments in August following a slow July.
- The international trade gap for goods narrowed in August.
- By any measurement, consumer confidence fell in September from August. The hurricanes, North Korea, Charlottesville, and the country’s growing divisiveness have affected consumers’ economic outlook.
Eye on the Week Ahead
The August report on international trade in goods and services is coming out this week. The trade deficit for July was about $44 billion. The week ends with employment figures for September. The labor market has been steady for much of the year, although wage increases have been minimal. Average hourly earnings for August increased only 0.1% and were up 2.5% year-over-year. The September report is not expected to significantly deviate from those figures.
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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
Only 10 seats left!
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
Only 10 Seats Left
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.
Registration limited!
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
Registration limited!
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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