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  • Spell Check - Week 12 Market Performance - Phil Clark & Dustin Hocken talk Recession Preparation, Budgets and more - Episode 3

    Spell Check - Week 12 Market Performance - Phil Clark & Dustin Hocken talk Recession Preparation, Budgets and more - Episode 3
    2023/04/16

    Week 12 Market Performance:

    Dow Jones Industrial Average: W12 +1.18%; YTD +0.38%

    S&P 500: W12 +1.39%; YTD +3.42%

    Nasdaq: W12 +1.66%; YTD +12.97%

     

    Questions Answered in this Episode:

    Why is personal savings so low?

    What are simple ways to reduce your spending and keep an eye on your budget?

    Best way to prepare for a recession?

    What does the .25% rate hike mean for the markets and the consumer?
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    33 分
  • Spell Check - Week 11 Market Performance - Silicon Valley Bank Collapse - Episode 2

    Spell Check - Week 11 Market Performance - Silicon Valley Bank Collapse - Episode 2
    2023/03/28

    Week 11 Market Performance:

    Dow Jones Industrial Average: -.15%; YTD Performance: -3.88%

    S&P 500: +1.43%; YTD Performance: +2.01%

    Nasdaq: +4.41%; YTD Performance: +11.12%

     

    Silicon Valley Bank Mission Statement: 

    “Our mission is to increase the probability of our clients’ success. For nearly 40 years, Silicon Valley Bank has helped innovators, enterprises and their investors move bold ideas forward, fast.”

    Silicon Valley Bank sold $21B worth of US Treasuries and Agency securities for a ($1.8B) loss after tax.

    Fed's response: .25 Basis Point (.25%) rate hike.

    What does it mean? Find out by listening to Episode 2.
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    21 分
  • Spell Check - Fed Sentiment Analysis and Lifestyle Check - Episode 1

    Spell Check - Fed Sentiment Analysis and Lifestyle Check - Episode 1
    2023/03/19

    2022 Market Performance

    Dow Jones: -8.78%

    S&P 500: -19.44%

    Nasdaq: -33.10% 

    2023 Market Performance (through trading week 9)

    Dow Jones: .74% (YTD)

    S&P 500: 5.37% (YTD)

    Nasdaq: 11.68% (YTD)

    Fed Sentiment

    Jerome Powell and co. are dead-set on lowering the inflation rate to their target of 2%. My argument is that rate increases will occur well into the summer months. 

    Consumer Spending

    Consumer spending remains strong. After seeing a cooling of the metric in October, November, and December of 2022, January data jumped 1.8%. 

    Personal Savings Rate

    The personal savings rate just bounced off an all-time low, but it didn't bounce high. The savings rate is still near an all-time low and it seems consumers are still on a spending spree. 

    Consumer Credit

    Consumer credit is high. There is likely correlation between the savings rate and consumer credit - inversion. The savings rate and consumer credit inverted for the first time since 2008 (on a percent change from a year ago basis). 

     

    What does all of this mean? Listen to Spell Check to find out my take!
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    15 分
  • Unlocking the Power of RMD's - 7 Strategies for Retirees

    Unlocking the Power of RMD's - 7 Strategies for Retirees
    2023/03/07

    "Hey everyone, today we're going to be talking about Required Minimum Distributions (aka RMDs). Know there is a lot of material out there on RMDs but stick with me on this important topic if you have an IRA or 401(k). The rules have changed and if you are approaching retirement age, or know someone who is, you don’t want to miss this episode. 

    This subject can be both confusing and overwhelming. So, having proper knowledge about RMDs can help retirees make solid, strategic decisions. Stay tuned and I will help you unlock the benefits of your RMDs.


    Alright, let’s get to it. We are going to cover:

    •What are RMDs
    •How to calculate your RMD
    •Tax consequences of taking RMDs
    •Strategies to minimize the tax impact of RMDs
    •Deadlines for taking RMDs

     
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    17 分
  • 2023 Outlooks for Investors

    2023 Outlooks for Investors
    2023/02/28
    Our take on the global economy, and what we expect for the duration of 2023.
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    20 分
  • 2023 Debt Ceiling

    2023 Debt Ceiling
    2023/02/28
    The United States Debt Ceiling is a limit set by the US Congress on the total amount of debt that the federal government can accumulate. On January 19 2023, it's set to hit its limit and many people are wondering what will happen next.We also discuss some of the possible consequences of hitting the Debt Ceiling for both individuals and the country. So should you be worried about the US Debt Ceiling? Keep reading to find out, or, head over to our YouTube channel and watch the video! https://youtu.be/wDPqRk-XSqMPlus we will share with you which U.S. President paid off the national debt. Let’s begin with some facts and figures about the United States debt ceiling, and how it will affect you, and all consumers. A lot of people are talking about it right now because it's been hit, but a lot of people don't really know what it is. I'm going to break it down for you in easy terms so that you can understand what's happening. After that, I'll let you know if you should be worried or not.The United States' debt ceiling is a major factor in the overall health of our economy. Unfortunately, many people overlook this important detail due to lack of understanding. The debt ceiling sets the maximum amount that the federal government can borrow, and thus dictates how much money it has on hand for everything from welfare programs to military spending. This means that if we don't pay attention to the debt ceiling, we could end up with a government that is unable to provide essential services and support. Not only can neglecting the debt ceiling lead to instability in our economy and government, but it can also open us up to risk from other countries. If the US government has too much outstanding debt, creditors may be less willing to lend us money or they might require higher interest rates. This increases the cost of borrowing and can put a huge strain on taxpayers as well as businesses and investors. Since 1960, the debt ceiling has been raised 78 times. Yet, you rarely hear people talking about it. That's because it is a complex topic that many people don't understand. So, should you be worried? Each time the debt ceiling is reached, the United States is at risk. What are the consequences of hitting the debt ceiling? Well, it could mean that the government shuts down, which would be devastating for our economy and citizens alike. Why? Well, consumer spending makes up nearly 70% of the U.S. GDP and a shut down has far reaching effects. More specifically, you could see a furloughing of non-essential government employees, delaying tax refunds, delaying social security, shutting down government funded businesses, and the list continues. In addition, credit markets could suffer, leading to higher interest rates for borrowers and a weaker dollar, which means more inflation at a time when the Fed is trying desperately to bring down inflation. So if this is such a big deal, why do we keep hitting the debt ceiling? Well, let's looks at the financials for the United States in 2022. The United States reached it’s 31.4 trillion debt ceiling limit on January 19. Janel Yellen stated extraordinary measures must be taken to solve this dilemma. Does anyone know what that means? Does Janet Yellen know what that means? Her letter dated 1-19-23, she describes the actions that can be taken. The extraordinary measures currently being considered are: (1) redeeming existing, and suspending new, investments of the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund;(2) suspending reinvestment of the Government Securities Investment Fund;(3) suspending reinvestment of the Exchange Stabilization Fund; and (4) suspending sales of State and Local Government Series Treasury securities. These measures will continue to be evaluated on an ongoing basis. In 2022, the United States took in roughly $4.9 trillion, mostly from income tax and spent 6.3 trillion. That is a $1.4 trillion dollar deficit for 12 months. Can you imagine if you ran your household like this? Your banker would laugh you out of the bank. So where did the $6.3 trillion go? Most went to social programs and services, such as Medicare and Social Security. We need to make sure that our most vulnerable are protected, but we also need to take responsible fiscal action so that debt does not spiral out of control. So far in 2023, that is not the case. In fact, according to the Treasury.Gov, spending in the new year is already $421 billion more than collected. Clearly our country has a spending problem. Anyone that doesn't see this must not understand simple math. Keep in mind, a huge part of the problem is promises made many years ago are still being funded at the same time new promises are being made by politicians. Even so, why not just raise the debt ceiling for the 79th time? The answer is simple: we can't keep kicking the debt can down the road without addressing our out-of-control spending.  Or, as President Biden ...
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    27 分
  • The FTX Scandal: What Happened?

    The FTX Scandal: What Happened?
    2022/12/16
    Sam Bankman-Fried and FTX- you’ve probably heard those names in the news recently, but what actually happened? Here’s everything you need to know about the recent FTX scandal and some things you can do to protect yourself from becoming a victim in similar events.
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    29 分
  • Ten Useful Year-End Tax Savings Tips

    Ten Useful Year-End Tax Savings Tips
    2022/12/06
    Year-end 2022 is approaching fast but in just 15 minutes we give you 10 Useful Tax Reduction Strategies that will put some money back in your pocket.
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    14 分