The Week Ahead: June 7 , 2021: Market Update, In The News, COVID-19 update, all this and more in The Week Ahead!
Posted on June 11, 2021
THE BIDEN BUDGET
The Most Important Number in the Biden Budget
Goldman Sachs Resource Provided by Taylor Financial Group
President Biden released his budget proposal to Congress, which calls for an increase in the deficit of $800 Billion over 10 years (0.3% of GDP over that period) to accommodate his “American Jobs Plan” (AJP) and “American Families Plan” (AFP). While the amount is not surprising, this is the first time the White House has formally shown the net effect of their proposals over the ten-year period Congress will use when it considers them….Read More
CURRENT STATE OF THE MARKET
Weekly Market Commentary 06.07.2021
Amid Hiring Challenges, Hourly Earnings Rise, Some Unemployment Benefits Cut
Published by The Carson Group, LLC
U.S. nonfarm payrolls rose 559,000 last month (Figure 1). This is much better than last month’s 278,000, but much lower than March’s 785,000 gain. Workers are returning to the labor force more slowly than expected. Businesses are reporting challenges in finding workers. Leisure and hospitality employment accounted for more than 50% of the job gains. Auto industry employment dropped 27,000 last month as semiconductor shortages forced plant shutdowns….Read More
HOW SHOULD THE RICH BE TAXED MOST EFFECTIVELY
How should the rich be taxed most effectively?
The Economist Podcast Provided by Taylor Financial Group, LLC
THE BILLIONAIRE founder of Bridgewater Associates, the world’s largest hedge-fund manager, assesses President Biden’s plans to tax the rich. Anne McElvoy asks him whether his firm’s distinctive culture is cultish and whether the Redditers were right in their criticism of hedge funds….Listen Here
JUNE IS FAMILY & SUMMER SAVINGS & YOUNG INVESTORS MONTH
American Families Plan Would Provide Benefits for some, more taxes for others
Resource Provided by Taylor Financial Group, LLC
On April 28, 2021, the White House released a fact sheet for President Biden’s American Families Plan (AFP), which proposes about $1 trillion in investments and $800 billion in tax cuts. There would also be tax increases for those making more than $400,000 per year. Major provisions proposed in the plan are summarized here, including some tax provisions…Read More
What Issues Should I consider When Having (Or Adopting) A Child?
Checklist Provided by Taylor Financial Group, LLC
Beyond the joy brought to parents from having or adopting a child, this is a huge financial transition in their lives. There are a number of issues to consider including how the costs of caring for a child will impact both their short-term cash flow and their long-term saving and wealth-building objectives….View Checklist
DIAL IN TO OUR VIRTUAL OFFICE HOURS
FOR CLIENTS, PROSPECTS, FRIENDS & FAMILY
Every Monday from 4:15pm – 5:00pm EST
Our “Office Hours” are exclusive to clients, prospects, friends, and family who would like 1-on-1 access to Debra Taylor and her opinions on the current state of the markets and how that might impact you and your family!
Debra will begin each session by discussing the markets briefly and then open up the floor to questions from the audience. We hope for this to become a place for people to connect each week and discuss important financial topics on their minds!
Questions can be asked LIVE during office hours or sent to AnnMarie in advance!
You can join Office Hours on your computer, tablet, or smartphone.
JOIN CARSON AS A GUEST FOR THIS WEBINAR TO LEARN WHY YOU MAY NEED TO UPDATE YOUR ESTATE PLAN
Carson Client Webinar
Why You Might Need to Update Your Estate Plan
Thursday, June 10th at 4:00 PM EST
There’s no shortage of headlines coming out of Washington right now that could affect estate planning. Capital gains tax, lifetime gift tax exemption, loss of step-up in basis, and several other terms seem to be in daily discussions on Capitol Hill.
Savvy investors need to plan ahead for their legacy as the landscape changes.
Carson’s webinar “Why You Might Need to Update Your Estate Plan” looks into the basics of estate planning and how changes in legislation could impact your plan.
Join Carson’s Director of Retirement Research Jamie Hopkins and Sarah Duey, Vice President of Trust Services on Thursday, June 10, at 3 p.m. CT to discuss:
Leaving a legacy in the most tax-efficient way for you and your loved ones
Wills, trusts, and beneficiaries – what’s right for you?
How new legislation affects estate planning
Important tax considerations in your estate plan
TEE OFF WITH TAYLOR FINANCIAL GROUP
You are invited to “Tee Off” with Rob Taylor, Senior Wealth Advisor of TFG, at the Ramsey Golf & Country Club!
Each tee time is limited to 3 spots, so please let us know your availability soon so we can secure your spot!
Wednesday, June 30th
12 pm-5 pm (estimated times and depending on the “19th hole”)
Each Golf Outing offered is assigned on a first-come-first-serve basis so RSVP ASAP!
Tom Fridrich, JD, CLU, ChFC®, Senior Wealth Planner We’ve all asked ourselves whether it’s too early to retire (usually after a particularly challenging commute or dealing with a difficult client). You may have even gone so far as to take a sneak peek at your account statements …
By Debra Taylor, CPA/PFS, JD, CDFA™ Dear Friends, For investors, it may feel like déjà vu all over again as inﬂation and the Fed dominate market headlines on a day-to-day basis. After all, the numerous market swings last year were driven by ever-changing expectations around the Fed – …
Matt Kory, Vice President, Retirement Programs As a retirement income vehicle, the 401(k) is second in popularity only to Social Security – and as CNBC reported in 2019 the number of 401(k) millionaires is at an all-time high. But is a million dollars even enough for your retirement needs?