The Market & The 2016 Presidential Election
Greg Valliere, Schwab’s Chief Political Strategist had this to say:
- If Trump wins the markets may not respond favorably
- On the flipside, if Hillary wins there may not be much in the way of volatility
- Valliere anticipates Hillary winning by a 5-7 point lead spread
- However, if Hillary wins by a wider margin we could see strong volatility along with potential changes to the house (not good historically for the markets)
Tips for Your Kids Heading To College
- Consider having them sign Power of Attorney form (POA) before going off to school since you may not have access to their accounts.
- Fill out the HIPAA release form at the college your child is attending. If something were to happen to your child the college could then release the information to you.
Insights from Malcolm Gladwell
The Internet of Things
Playing Basketball vs. Playing Soccer
Malcolm’s Advice: Improve The Weak Links
College Planning vs. Retirement Planning
The balance between saving for college AND saving for retirement is difficult for most families. A study by JP Morgan reveals some useful guidance:
- Only 0.3% of college student receive enough grants and scholarships to cover ALL costs
- You need to to start saving now and seriously consider a 529 savings plan
- The most important thing is to be saving for retirement
- Saving for retirement should come BEFORE saving for college
- The JP Morgan study says that saving 15% of what you make is the optimal number
Saving 15% is a great rule of thumb, however your situation could be different. What you need will depend on things like how much you have already saved, if are you planning on moving during retirement, if you will you work, or if you will receive an inheritance. So, there are lots of factors to consider which is where we can assist. At Weiss Financial Group we help figure out how much you NEED to save, how much you CAN save, and WHERE to invest the money.
I am live Wednesdays at noon answering your questions and providing smart tips.
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