Frazier Allen: A Retirement Savings Exit Strategy
Clarksville, TN – Every day, an estimated 10,000 people reach the IRS trigger age when they must begin withdrawing money from their retirement plans. If you’re among them, it’s wise to develop a strategy.
Once you hit 70½, IRS rules call for required minimum distributions (RMDs) every year on all of your traditional, simplified employee pension (SEP) and SIMPLE IRAs, as well as employer-sponsored plans. Roth IRAs are exempt.
Create a plan to withdraw your minimum distributions on your terms, while complying with Uncle Sam’s.
Clarksville Ranks 19th Among Top U.S. Cities for Fastest Job Growth
Clarksville, TN – The Clarksville metropolitan statistical area (MSA) ranked 19th in the nation for fastest job growth. A report released today from 24/7 Wall Street, a Delaware-based financial news company, studied employment and job growth from October 2015 to October 2016 for 387 metro areas and announced the top 25 U.S. cities.
The Clarksville MSA added more than 4,700 jobs, an increase of 4.61%, with total jobs at 106,811 in October 2016.
Clarksville Public Square
Clarksville Weekly Market Snapshot from Frazier Allen for the week of December 11th, 2016
Clarksville, TN – Italy voted “no” on its constitutional referendum and Prime Minister Renzi resigned. South Korea’s president was impeached. The European Central Bank extended its asset purchase program to the end of 2017, but will reduce the monthly pace of purchases in April.
None of that disturbed U.S. equity market investors who continued to enjoy the Trump sizzle. After showing some signs of stability, bond yields again moved higher.
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of December 6th, 2016
Clarksville, TN – There was a ton of economic data, most of it consistent with moderately strong growth in the near term. Nonfarm payrolls rose in line with expectations in November.
The unemployment rate fell to 4.6% (the lowest since August 2007), but that was partly due to a drop in labor force participation. Average hourly earnings fell 0.1%, following a 0.4% rise in October, up 2.5% y/y (still trending higher, but more moderately than it appeared a month ago).
Frazier Allen
Frazier Allen: Learning to be a Retiree
Clarksville, TN – Most of us really look forward to the idea of well-deserved, unstructured free time. A time to do exactly what we please when we please. Until we get it.
A retirement satisfaction survey from EBRI found that half of retirees (51.4%) in 2012 reported being somewhat or not at all satisfied with their retirement. Some retirees underestimate how long it takes to adjust to a new lifestyle; others miss friends from work; still others find themselves with too much free time.
Half of retirees reported being somewhat or not at all satisfied with their retirement.
Clarksville Mayor Kim McMillan proclaims November 26th Small Business Saturday
Consumers urged to shop, dine at local small businesses during holidays
Clarksville, TN – Clarksville Mayor Kim McMillan has proclaimed Saturday, November 26th as Small Business Saturday in the City of Clarksville.
Small Business Saturday is a day dedicated to supporting small businesses across the City of Clarksville, the state and country. Founded by American Express in 2010, this day is celebrated each year on the Saturday after Thanksgiving.
Clarksville Weekly Market Snapshot from Frazier Allen for the week of November 7th, 2016
Clarksville, TN – The Federal Open Market Committee left short-term interest rates unchanged, as expected, and the policy statement was a near photocopy of the one in September.
The FOMC noted that “the case for an increase in the federal funds rate has continued to strengthen,” but for the time being, officials decided “to wait for some further evidence of continued progress towards our objectives.”
The October Employment Report was largely in line with expectations. Nonfarm payrolls rose by 161,000 (median forecast: +175,000), but the two previous months were revised a net 44,000 higher.
Frazier Allen
Altra Federal Credit Union hosts Small Business Connect Mixer on November 16th, 2016
Clarksville, TN – An educational seminar focusing on small business cyber security will be held on Wednesday, November 16th at 5:30pm to 7:00pm at Old Glory Distillery Company located at 451 Alfred Thun Road, Clarksville, TN 37040.
The Small Business Connect Mixer is a no-cost, no-obligation event hosted by Altra Federal Credit Union. The event is open to small business owners and Altra membership is not required.
Clarksville Weekly Market Snapshot from Frazier Allen for the week of November 2nd, 2016
Clarksville, TN – Real GDP rose at a 2.9% annual rate in the advance estimate of third quarter growth, a bit on the high side of expectations. However, the economy was not as strong as the headline figure suggests (similarly, growth over the four previous quarters was not as weak as the GDP number implies).
Inventories, which had been slowing over the five previous quarters (subtracting from GDP growth), rose at a faster pace (adding 0.6 percentage point to overall growth). Net exports (a narrower trade deficit) added 0.8 percentage point.
Frazier Allen
Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 28th, 2016
Clarksville, TN – The recent economic data reports have done little to alter the overall picture (moderate growth, low inflation). The Fed’s Beige Book noted that economic activity has continued to expand, with most Fed districts describing growth as “modest” or “moderate.”
In mid-September, nine of the 12 district banks had requested an increase in the discount rate (the rate the Fed charges banks for short-term borrowing) – one more than in late July – suggesting internal pressures for higher short-term interest rates at the Fed.
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