It used to be that the last couple of weeks in August were slow ones for investors. Well, not this year. Neither the double whammy of Michael Cohen’s pleading guilty and Paul Manafort’s conviction, nor the escalating economic problems in emerging markets (Venezuela and Turkey) could keep stock market indexes from reaching new highs.
Read MoreIn honor of the 83rd anniversary of The 1935 Social Security (SS) Act, here are some questions that I have received from you about the nation’s main retirement program.
Read MoreI am preparing to take a much-needed vacation and in doing so, I am trying to figure out how to disconnect and recharge. According to a study from Project: Time Off, the average time a worker takes per year is now 17.2 days and more than half didn’t use all of their allotted days. That’s a shame, but the survey also notes that those who take a break are often more productive while they work and are more apt to be creative during their down time.
Read MoreAs millions of college students return to school, they will be confronted with the dizzying prospect of selecting classes. For some, the choices will be limited, but there are always a couple of electives. Instead of telling you what I would recommend, I contacted some of my go-to resources, to learn what they thought every college student should take. All of them are seasoned professionals from diverse backgrounds and are ages 40-70.
Read MoreThe Labor Department reported that the economy added 157,000 jobs in July, a bit lower than the expected 190,000. But with the upward revision of 59,000 to the two previous months, this year’s average monthly job creation is 215,000 -- that’s ahead of last year’s 184,000 per month and better than the 2016 - 2017 pace of about 185,000.
Read MoreThe economy was on fire in the second quarter. According to the government, real annualized Gross Domestic Product (“GDP”) was 4.1 percent, the strongest quarter since Q3 2014, which came in at a sizzling 4.9 percent annual rate. As a reminder, GDP measures the nation’s total output of goods and services and is released by the Bureau of Economic Analysis (BEA) on a quarterly basis, with two subsequent monthly revisions to the advance estimate.
Read MoreAt a time when Congress can’t seem to agree on much, lawmakers are acknowledging that the main retirement savings vehicle, the 401(k), needs some fixing. Before you get too excited, the changes being considered are more like touch ups, rather than a complete renovation.
Read MorePresident Trump is not happy with the Federal Reserve. In an interview with CNBC, he said that while he put a “very good man” at the helm of the central bank (Jerome Powell), he’s “not thrilled” that interest rates are rising. The remarks got a lot of attention, because for the past twenty years or so, presidents and administration officials have abstained from commenting on the Fed’s monetary policy to preserve the central bank’s independence from partisan pressure.(For more on the complicated relationship between the Fed and Congress, check out my interview with author and Fed expert, Mark Spindel.)
Read MoreFive days after implementing tariffs on $34 billion worth of imported Chinese goods, the Trump administration released a list of an additional $200 billion worth of Chinese imports that will be subject to a 10 percent tariff. On the day of the announcement, stocks slid, but only by about a half of a percent. By the end of the week, it seemed like investors had forgotten about the announcement and instead were focusing on corporate earnings and the strength of the economy.
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