jacksonville-downtown-vintage-banner1.jpg

Brower Financial Group Articles

Financial Planning | Weekly Economic Update  - January 30,2018

Posted by Brower Financial Group on Jan 30, 2018 9:23:17 AM

 

WEEKLY TIP

Before accepting a job offer, ask what maternity, paid leave, and short-term disability benefits are included.

Read More

Topics: Weekly Economic Update

Financial Planning | Weekly Economic Update  - January 1, 2018

Posted by Brower Financial Group on Jan 2, 2018 9:29:11 AM

 

WEEKLY TIP

Do you think you will have a 2018 tax refund? Consider using it to pay off a high-interest debt. If you have a debt at 18% interest, doing away with it is effectively like getting an 18% return.

Read More

Topics: Weekly Economic Update

Financial Planning | Weekly Economic Update  - Dec 4, 2018

Posted by Brower Financial Group on Dec 6, 2017 8:02:18 AM

WEEKLY TIP

Did you just get a great business idea? If you have a product or service offering that you sense your customers will find irresistible, perhaps they could help you finance it. Consider presenting it through a subscription model or have customers pay for the goods or services in advance.

CONSUMERS ACT ON THEIR CONFIDENCE

A new factoid points out just how well the economy is doing: the federal government just upgraded its estimate of third-quarter growth to 3.3%. New data on consumer spending and confidence hints at fourth-quarter strength. Personal spending improved 0.3% in October following the 0.9% leap in September, and household wages were up 0.4% in October for a second straight month. At a mark of 129.5, the Conference Board’s consumer confidence index reached a YTD peak in November, having soared 9.1 points in two months.1,2

Read More

Topics: Weekly Economic Update

Financial Planning | Weekly Economic Update  - Nov 27, 2017

Posted by Brower Financial Group on Nov 28, 2017 3:59:33 PM

WEEKLY TIP

Some investors play a guessing game: they watch Wall Street and try to pick future winners. Other investors recognize that diversification may improve their chances of holding shares in such companies without a lot of guessing.

 

CONSUMER SENTIMENT DECLINES FOR NOVEMBER

The University of Michigan’s monthly gauge of how households perceive current and future economic conditions ended the month at a mark of 98.5. Compared to the 100.7 final October reading, this was a disappointment. Still, the index was up 5.0 points year-over-year. Richard Curtin, the economist in charge of the consumer survey, noted that the index has hovered near “the highest levels since 2004” since January.1

Read More

Topics: Weekly Economic Update

Ponte Vedra Financial Planner | Weekly Economic Update  - October 9, 2017

Posted by Brower Financial Group on Oct 10, 2017 10:02:37 AM

WEEKLY TIP

Your household may want to budget by the 50/20/30 rule: 50% of take-home pay assigned to fixed monthly costs, 20% to saving/investing, and 30% to flexible consumer expenses.

HURRICANES HURT SEPTEMBER JOB NUMBERS

For the first time in seven years, the economy went a month without payroll growth. The Department of Labor’s September employment report revealed the impact of Hurricanes Harvey and Irma: it showed 33,000 fewer people working. Average hourly wages rose 0.5% to take the annualized gain to 2.9%, but this may have been an effect of the net loss of 105,000 lower-paying bar and restaurant jobs. In a statistical fluke, the headline jobless rate fell to 4.2%, and the U-6 rate, counting the underemployed, declined to 8.3%, even as slightly more Americans looked for work.1  

Read More

Topics: Weekly Economic Update

Ponte Vedra Financial Planner | Weekly Economic Update  - October 3, 2017

Posted by Brower Financial Group on Oct 3, 2017 8:22:54 AM

WEEKLY TIP

When a grandparent, relative or friend of the family pays for a child’s medical expenses that are not covered by insurance, direct payments to doctors for such costs are not considered gifts to the child and do not count against the annual gift tax exclusion amount (currently $14,000).

PERSONAL SPENDING BARELY IMPROVES

Consumer spending increased by only a seasonally adjusted 0.1% in August, while consumer incomes rose 0.2%. Those gains precisely matched the projections of economists surveyed by the Wall Street Journal. Factoring in inflation, household spending actually retreated 0.1% during August. Hurricane Harvey may be partly to blame for these numbers.1

Read More

Topics: Weekly Economic Update

Ponte Vedra Financial Planner | Weekly Economic Update  - September 25, 2017

Posted by Brower Financial Group on Sep 26, 2017 12:09:37 PM

WEEKLY TIP

Are your antiques and collectibles worth more than they used to be? Their current value should be accurately stated on your homeowner insurance policy. Otherwise, an insurer may not reimburse you for their full value if they are lost or damaged.

FEDERAL RESERVE: UNWINDING WILL BE GRADUAL

Last Wednesday, the country’s central bank detailed how it would shrink its mammoth balance sheet. During the fourth quarter, the Fed will unload $10 billion of maturing bonds per month; in each subsequent quarter, the monthly runoff will increase by $10 billion until reaching a limit of $50 billion. Fed chair Janet Yellen said that this schedule is set in stone, barring a “sufficiently great” economic threat. The Fed made no interest rate move last week, but 12 of 16 Fed officials do project a hike before 2017 ends.1

Read More

Topics: Weekly Economic Update

Ponte Vedra Financial Planner | Weekly Economic Update  - August 28, 2017

Posted by Brower Financial Group on Aug 29, 2017 8:05:27 AM

WEEKLY TIP

In retirement, arranging income distributions with an eye on tax efficiency could help your savings last longer. Smaller, tax-deferred account distributions will make your annual income taxes more bearable.

SUMMER SLOWDOWN HITS HOUSING MARKET

Low inventory and high prices are taking a toll on existing home sales. They declined 1.3% in July, according to the National Association of Realtors, making a second straight monthly retreat. In the past 12 months, the number of existing homes on the market has shrunk 9.0%, while the median sale price has risen 6.2% to $258,300. While resales were up 2.1% year-over-year, the seasonally adjusted annual sales rate reached a 2017 low in July. Census Bureau data showed new home sales falling 9.4% last month.1,2

Read More

Topics: Weekly Economic Update

Ponte Vedra Financial Planner | Weekly Economic Update  - August 21, 2017

Posted by Brower Financial Group on Aug 22, 2017 1:27:42 PM

WEEKLY TIP

Business owners should dedicate one hour per month to collect and sort receipts. This is vital for independent contractors, whose tax liability is linked to the expenses they deduct.

Read More

Topics: Weekly Economic Update

Ponte Vedra Financial Planner | Weekly Economic Update  - August 14, 2017

Posted by Brower Financial Group on Aug 15, 2017 7:58:25 AM

WEEKLY TIP

The investment markets experience cycles, and the major indices inevitably see downturns at some point. If you are focused on long-term performance, the good news is that the markets have the potential to rebound in reasonable time. If your portfolio is diversified, that may provide you with some insulation in a correction.

TAME INFLATION PERSISTS

Can the Federal Reserve justify another interest rate hike in the second half of 2017? Given weak inflation pressure, maybe not. The central bank has set a 2% yearly inflation target, but the Consumer Price Index rose only 0.1% in July, resulting in a 1.7% year-over-year gain. Core consumer prices rose 0.1% for a fourth consecutive month in July, so annualized core inflation was also at 1.7%. The Producer Price Index fell 0.1% last month; analysts polled by Briefing.com expected a 0.2% rise.1,2

Read More

Topics: Weekly Economic Update