Are you aware of the recent changes to mortgage fees by the Federal Housing Finance Agency (FHFA)? Effective May 1st, new rules by the FHFA have adjusted fees to favor lower-income and credit-score individuals, while higher-income and credit-score individuals may experience higher fees. The FHFA oversees both Fannie Mae and Freddie Mac, the two organizations […]
You have probably heard rumblings about the ongoing banking crisis across America. Silicon Valley Bank was the first domino to fall on March 10th of this year. Two days later, Signature Bank of New York was closed. Then on May 1st, First Republic Bank of San Francisco was taken over by JPMorgan Chase Bank. Bad […]
Last year the stock market was down over 18%. So far this year, stocks are up about 8%, but we face potential headwinds of a recession. Is now a good time to invest? To best answer this question requires a quick review of the stock market’s history. In the short term, the stock market can […]
Following the Bretton Woods agreement post World War II, and the agreement between the United States and Saudi Arabia in the 1970s to trade oil in US dollars, the US dollar stood alone as the preeminent global currency for almost 80 years. While the United States continues to enjoy this status, concerns are increasing around […]
Social Security Retirement Income has evolved into the foundation of retirement planning for most workers, representing most of the retirement income, on average, for older Americans. Remember that Social Security Retirement Income is subject to cost-of-living increases, making it a very valuable income source for your retirement. This means making the right decision about when […]
Time is fast running out, but you may still be able to score a tax break for 2022 with an Traditional IRA contribution. Here’s what you need to know: For 2022, your maximum contribution limit is $6,000; plus an additional $1,000 if you were age 50 or older in 2022. Eligible couples could save $3,500 […]
The recent rise in “risk-free” short-term interest rates has many people reconsidering the risk vs. reward dynamic relative to the stock market. While the increase in yields is welcomed relief compared to the historically low interest rates of the past 15 years, it is important for investors not to lose sight of the primary purpose […]
Designing an investment portfolio can be a complex process at any age. It requires consideration of various variables such as risk tolerance, time horizon, and financial goals; however, there is one rule that always holds true for investors: **Rule** Never put yourself in a position where you MUST sell assets when they are down to […]
One of my tennis buddies relayed a story where hackers had stolen virtually all his private information necessary to open accounts in his name. They proceeded to open bank accounts and credit card accounts across the country. It was a widespread scam attempt. Fortunately, he caught it before losing any money. Scammers constantly evolve tactics […]
By The Welch Group Banks play a vital role in the economy, providing individuals and businesses with access to cash, credit, and other financial services. Despite their importance, however, banks can fail. And when they do, the effects often cause panic in the wider economic environment. This past week, two major players in the banking […]