Tag Archives: retirement plans

Dow Closes Near Record High After Trump Victory

image of stock marketing going up

U.S. and European indices rise, while Asian indices fall.

A day after Donald Trump’s election win, Wall Street experienced a surprising upswing. It was feared the market would plunge on November 9 since many investors were anticipating Hillary Clinton to triumph in the presidential race. Quite the opposite happened.

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Mind Over Money

MIND OVER MONEY

Emotion often drives our financial decisions, even when logic should. 

When we go to the grocery store, we seldom shop on logic alone. We may not even buy on price. We buy one type of yogurt over another because of brand loyalty, or because one brand has more appealing packaging than another. We buy five bananas because they are on sale for 29 cents this week – the bargain is right there; why not seize the opportunity? We pick up that gourmet ice cream that everyone gets – if everyone buys it, it must be a winner. 

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New Rule, Nicer Returns?

image of retirement plan

Could the new fiduciary rule effectively enhance portfolio performance for retirement savers?

A change is coming. The Department of Labor is introducing a new rule regarding retirement accounts – a rule that is profoundly impacting the financial services industry. The rule will require financial services professionals to serve as fiduciaries when they provide advice about IRAs or workplace retirement plans.1,2

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Retirees Are Racking Up Credit Card Debt

credit card debt

New statistics point out an alarming financial problem.

$6,876. That is the average amount of credit card debt owed by an American household headed up by an individual aged 65-69.1

If you are newly retired or close to retiring, that figure may alarm you. It is more than twice the amount of Social Security’s maximum monthly income payment.2

Credit card use is surging, and seniors are taking on more revolving debt as part of the trend. That $6,876 figure comes from personal finance website ValuePenguin, which just published its latest yearly study on U.S. credit card debt. As ValuePenguin found, revolving debt shrinks little with age: in households headed up by those 75 and older, the mean credit card balance was $5,638.1    

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What Expenses Could Change When You Retire?

retirement image

Some costs could rise, fall or even disappear.

Your retirement may seem near at hand or far away, but one thing is certain: your future will differ from your present. Financially, that fact is worth remembering. Some of the costs you have paid regularly all these years may suddenly decrease or fade away. Others may increase.

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Reeve Conover is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/dealer member FINRA/SPIC. Cambridge and Conover Consulting are not affiliated. Licensed in SC, NC, NY, CT, NJ, and CA.
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