How will Wall Street remember 2012?
Stock market bears might characterize 2012 as a year of living dangerously, a year in which Wall Street coped with major risks to the American and European economies. Stock market bulls might end up remembering 2012 for what didn’t happen: Greece had resisted a temptation to exit the euro, and it looked as if bipartisan negotiation might save the U.S. economy from heading over the fiscal cliff. In late November, stocks appeared on track for some solid yearly gains.
Key economic indicators improved. The year saw major rebounds in the housing market and consumer confidence. By October, existing home sales were up 10.9% from a year ago with the median sale price at $178,600; 11.1% better than in October 2011. New home sales volume in October had increased 17.2% in 12 months, and the National Association of Home Builders builder sentiment index hit 46 in November, sharply above the October 2011 low of 17. The Conference Board’s consumer confidence poll hit a 57-month high of 73.7 in November, while the University of Michigan’s November consumer sentiment survey reached a peak unseen since July 2007 at 84.9.1,2,3
By October, unemployment was at 7.9%, down 0.4% from January and 2.3% from three years before. After a 0.2% reversal in May and a flat reading in June, personal spending increased consistently through the third quarter, albeit (more…)
Getting rich quick can be liberating, but it can also be frustrating. A sudden wealth windfall can help you address retirement saving or college funding anxieties, and it may also allow you to live and work on your terms. On the other hand, you’ll pay more taxes, attract more attention, and maybe even contend with … Continue reading “When a Windfall Comes Your Way”
You may have seen this statistic before or one resembling it: the average 65-year-old retiring couple can now expect to pay more than $250,000 in healthcare costs during the rest of their lives. In fact, Fidelity Investments now projects this cost at $285,000. The effort to prepare for these potential expenses is changing the … Continue reading “Healthcare Costs are Cutting into Retirement Preparations”
Preparing for retirement just got a little more financial wiggle room. This week, the Internal Revenue Service (IRS) announced new contribution limits for 2022.
Financial markets can be challenging to understand. But when markets enter a “bad news is good news” cycle, it becomes even more difficult to follow along. Enter the Fed’s decision for tapering bond purchases.
The past year and a half have tested all of us, but overall, the economy continues to strengthen, COVID-19 trends are greatly improving, and this still relatively young bull market is alive and well. As the leaves turn colors and begin to fall to the ground, there are many reasons to be thankful.
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