High stock market prices have fooled many people into thinking that the economy is doing just fine, even though that’s not really the case. Economic productivity is still only increasing slightly. And the lowering unemployment rate is more the result of people continuing to leave the workforce than it is the result of the creation of new jobs. For...
One of the greatest benefits of the post-World War II economic boom was that many workers became so well off that they could retire comfortably once they reached their golden years. The days of living paycheck to paycheck and having to work into old age until no one would keep you employed ceased to become a reality for millions...
President Trump recently nominated current Federal Reserve System Governor Jerome Powell to be the next Chairman of the Fed’s Board of Governors, replacing Janet Yellen when her four-year term expires. It’s a puzzling move for a President who was elected based on popular anger at the Washington establishment, and who promised to drain the swamp. As Powell’s nomination demonstrates,...
The Republican tax reform bill has finally been introduced in the House of Representatives, allowing us finally to see what could be in store for us in the future. A much higher standard deduction, fewer tax brackets, and significant changes to tax credits have garnered many headlines. Less well-appreciated are the changes that could be coming to 401(k) plans...
The personal savings rate in September reached its lowest level since 2007. And while it hasn’t reached its all-time low, the trend is definitely downwards. Personal savings are now at 3.1 percent of income, still slightly higher than the 2.5 percent low reached in December of 2007. Looking back at historical savings data since 1960, the savings rate had normally...
What do you think of when you think of retirement? A relaxing vacation on the beach, daiquiri in hand, watching the sun go down over the water? Or how about a brisk hike through the Alps, taking in the bright blue rivers and jagged snow-capped mountain peaks? For most people that’s the dream, but for more and more that’s...
It’s no surprise to most investors that bonds, like stocks, have been in a massive boom market over the past decade. In fact...
Stock markets continue to reach record high levels, but it’s only a matter of time before they crash back to earth. When they do...
Recent reports that Congress had considered significant reductions to 401(k) contributions have spurred calls from some quarters for a return to pension plans. But while much discussion of pensions paints them in a nostalgic light, the reality of pensions for most people is far less rosy. Yes, it would be nice to be able to retire and continue being...
Online retail giant Amazon announced a nationwide search for its second headquarters, looking to complement its existing headquarters in Seattle. The company is looking to locate its second headquarters in a metropolitan area with more than 1 million people, with close proximity to an international flight hub, good public transit, and the ability to attract a talented and educated...