Investment banks remain skeptical that the Federal Reserve will reduce interest rates this summer, despite markets having priced one in. Goldman Sachs says the “hurdle for such [rate] cuts is likely to be higher than widely believed,” while UBS says a decrease is contingent on the unlikely event the US…
Caring for children with special needs can be costly, and parents might not know about tax benefits that can help. CPA Thomas Brinker Jr. explains the medical expense deduction and discusses whether to use home equity loans or early retirement distributions to pay for care. Tax Insider
New Jersey, Massachusetts and Nevada are proceeding with proposals for a fiduciary standard, despite passage of the Securities and Exchange Commission’s Regulation Best Interest. Industry groups continue to oppose state fiduciary rules, citing concern that the rules would limit investor access to advice, particularly for low- and middle-income investors. Financial…
The Securities and Exchange Commission has approved Regulation Best Interest, but Tom Nally, president of TD Ameritrade Institutional, says he is worried states will try to impose a higher fiduciary standard on advisors. “We’re concerned about there being 52 standards out there,” Nally says.
Making it easier for adult children to take out life insurance policies on their parents could help them recoup money spent on caregiving, writes Life Benefits founder Tomas McFie. Creating a policy for this purpose would be profitable for insurers and help prevent financial hardship for people caring for elderly…
The CEOs of two major insurers say that retiring baby boomers need guaranteed-income benefits that are unique to annuities and that the industry needs to better explain annuities. “We have a moral responsibility to help people retire with grace and dignity,” Transamerica CEO Mark Mullin says. ThinkAdvisor
Major banks say US trade policies will weaken the economy enough to force the Federal Reserve to cut interest rates. The two-year Treasury yield fell 14 basis points Friday to 1.92% after President Donald Trump threatened tariffs on Mexican goods if the country does not help curb illegal immigration to…
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