DIRS.INFO The most relevant business & tech news

☆ You can still score a 2022 tax break with pretax IRA contributions — here's how to qualify
▼ + stars: | 2023-03-02 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

You can make your 2022 IRA contribution through the April tax deadline in 2023, as long as you designate the deposit for tax year 2022. However, it gets more complicated if either partner has retirement plan coverage at work and participates in the plan. With a workplace plan, some or all of your contributions may not be deductible, depending on earnings. For 2022, single investors with a workplace retirement plan may claim a tax break for their entire IRA contribution if their modified adjusted gross income is $68,000 or less. How to know if a pretax IRA contribution makes sense

☆ Wall Street dips as weak corporate guidance fuels recession fears
▼ + stars: | 2023-01-25 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

Fourth-quarter earnings season has shifted into overdrive, with 95 of the companies in the S&P 500 having reported. Analysts now see aggregate S&P 500 earnings dropping 3.0% year-on-year, nearly double the 1.6% drop seen on Jan. 1, per Refinitiv. Most of the 11 sectors of the S&P 500 were red, utilities (.SPLRCU) suffering the largest percentage loss. General Dynamics Corp (GD.N) beat quarterly expectations, but a weak 2023 forecast helped send the defense contractor's shares sliding 3.2%. The S&P 500 posted 6 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 52 new highs and 26 new lows.

☆ Wall St reverses sell-off, dollar slides, Treasury yields rise on BOJ policy shift
▼ + stars: | 2022-12-20 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

Wall Street's "upward move is on relatively light volume," said Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. Emerging market stocks lost 0.55%. REUTERS/Issei Kato 1 2 3U.S. Treasury yields jumped after the Bank of Japan broadened its yield curve control, which prompted a global bond sell-off. Japan's surprise policy review sent the yen to a four-month peak against the greenback, and the dollar fell sharply against a basket of currencies. Gold breached the $1,800 level as the dollar lost altitude.

☆ 'There is no such thing as a free lunch.' 4 lessons for crypto investors from the FTX collapse
▼ + stars: | 2022-11-20 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +4 min

Bahamas-based crypto exchange FTX filed for bankruptcy in the U.S. on Nov. 11, 2022, seeking court protection as it looks for a way to return money to users. "I think the collapse of FTX will end up being good for traditional finance companies like Fidelity who are entering the crypto space, because they come with a certain level of trust," Lum said. Earlier this month, Fidelity Investments announced plans to launch a commission-free crypto product, allowing investors to buy and sell bitcoin and ether. The FTX collapse has also renewed interest in cold storage, or taking digital currency offline, making it less susceptible to hacks. The [FTX] collapse should be a lesson that any individual company — be it a crypto exchange or more traditional business — can go bankrupt in times of distress.

☆ 75% of young, wealthy Americans get this 'wrong' about investing, says CFP
▼ + stars: | 2022-11-18 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

Although advisors generally recommend that younger investors hold the vast majority of their investments in stocks, wealthy young people are skeptical that traditional investments can get the job done. In fact, 3 in 4 say it's not possible to achieve above-average returns with stocks and bonds, according to the survey. Young rich investors may 'mistake success with expertise'Why are young, affluent investors pulling away from stocks? It could be that there are newer, fresher ideas out there, says Ken Shepard, head of investments at Bank of America Private Bank. Why stocks are still the best option for young investors

☆ Here are 4 ways to take advantage of your health-care expenses before the end of the year
▼ + stars: | 2022-11-13 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +5 min

Take advantage of reaching your deductibleIf you've met your plan's deductible, you may be able to pay less for qualifying health-care services before the end of the year than you would after the deductible resets Jan. 1. Once you've met your plan's deductible, you may or may not face copays or coinsurance — it depends on your plan's out-of-pocket maximum, which may be higher. See if you can get the medical expense tax deductionThere is a tax deduction for medical expenses, although it comes with parameters that prevent some taxpayers from using it. For starters, you can only deduct health-care expenses that exceed 7.5% of your adjusted gross income. Its gains grow tax-free, and as long as withdrawals are used for qualifying medical expenses, tapping those funds also comes with no tax.

☆ Saving for a short-term goal? Here's where to put your money
▼ + stars: | 2022-11-07 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

If you're investing for a long-term goal, such as retirement, this thinking is sound. Compared with other types of investments, stocks offer a high potential return on your money. How to invest for short-term goalsSay you want to put a down payment on a house sometime over the next three years. Theoretically, you could boost the amount you're stashing away if you put the money in a stock market that shoots up. That means that your shortest-term money likely belongs in cash — not even in a relatively conservative asset, such as bonds, which can still lose money.

☆ Politics and your portfolio: Midterm elections create uncertainty for markets
▼ + stars: | 2022-10-31 | by ( Stephanie Dhue | ) www.cnbc.com time to read: +3 min

Voters file down the hall as early voting begins for the midterm elections at the Citizens Service Center in Columbus, Georgia, on Oct. 17, 2022. So with the midterm elections now a week away but the outcome still not in focus, does it make sense to make those adjustments now? Financial advisors say it's best to adjust your portfolio based on your financial goals and not on the outcome of any event. The market has a 'very distinct' midterms patternHistorically, stocks tend to do better after midterm elections. In 17 of the 19 midterm elections held since 1946, stocks performed better in the six months after the election than they did in the six months prior.

☆ U.S. data brings some encouraging signs for inflation-weary Fed
▼ + stars: | 2022-10-28 | by ( Lindsay Dunsmuir | ) www.reuters.com time to read: +3 min

Fed policymakers are keenly attentive to the ECI as one of the better measures of labor market slack and a predictor of core inflation. Projections released last month showed policymakers' median forecast for the federal funds rate by the end of 2023 at 4.6%. Several policymakers in the last month have also appeared to be leaning toward a smaller rate hike at the Dec. 13-14 meeting. Certainly, the latest Personal Consumption Expenditures (PCE) price index data did little to bolster central bank hopes that price pressures have decisively turned a corner. That was enough for one analyst to argue the market is undershooting the amount of Fed tightening that remains.

☆ Wall St jumps, Treasury yields climb on Truss resignation, solid earnings
▼ + stars: | 2022-10-20 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

All three major U.S. stock indexes overcame initial indecision to surge into positive territory, and 10-year Treasury yields continued to march past 14-year highs. European stocks whipsawed after Truss said she would leave 10 Downing Street, but were last showing solid gains. Emerging market stocks rose 0.03%. Benchmark Treasury yields resumed their rise after economic data appeared to confirm the Fed is unlikely to relent in its aggressive campaign to rein in inflation. The dollar index fell 0.64%, with the euro up 0.48% to $0.9818.

☆ This is the worst year for stock and bond investors since 1969—here's what to do with your money
▼ + stars: | 2022-10-18 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

And for investors who hold both stocks and bonds, that's not how a mixed portfolio is supposed to work. Because bond prices and interest rates move in opposite directions, the Fed's moves have been eroding the value of bond portfolios. Bond investors: 'You have a lot more options'It's impossible to know how the economy or monetary policy will shake out in the short term. Should inflation continue to run hot, the Fed could keep hiking interest rates, in turn pushing down bond prices. According to many experts, who believe much of that carnage is behind us, now may represent a compelling opportunity for bond investors, says Laipply.

☆ The extended tax deadline is fast approaching for 19 million Americans. What to know if you still haven't filed
▼ + stars: | 2022-09-16 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

There's about one month until the Oct. 17 tax deadline extension, and experts say filers need to prepare, especially for more complicated returns. An estimated all-time high of 19 million American taxpayers filed an extension for their 2021 returns, according to the IRS. Kevin Brady, a certified financial planner and vice president of Wealthspire Advisors in New York, said tax professionals have faced many challenges, including deadline changes and new Covid-related legislation. "When you combine those facts with the understaffing in tax prep and accounting firms and usual tax code complexity, filing for an extension has become more of a necessity," he said. Despite these challenges, taxpayers are quickly approaching the deadline for 2021.

Can you pay your mortgage with a credit card? How to pay your mortgage with a credit cardIn order to pay your mortgage with your credit card, check out Plastiq, a third-party platform that offers this service. With Plastiq, you can pay your mortgage or even a home equity line of credit (HELOC) with your Mastercard or Discover credit card. Credit utilization impact: Another downside of paying a mortgage with a credit card is its potential impact on your credit utilization. Making a large mortgage payment will push you closer to your credit limit and increase credit utilization, potentially harming your credit score.

Persons: —, Crystal Cox, Cox, aren't, Plastiq, you'll, it's, Stephen Keighery, Keighery Organizations: Service, Mastercard, American Express, Wealthspire Advisors, Federal Reserve, Consumer Financial, Home Buyer

Search resuls for: "Wealthspire Advisors"

13 mentions found