Clarksville Weekly Market Snapshot from Frazier Allen for the week of May 22nd, 2016
Clarksville, TN – The FOMC minutes from the April 26th-27th policy meeting showed that “most [meeting] participants judged that if incoming data were consistent with economic growth picking up in the second quarter, labor market conditions continuing to strengthen, and inflation making progress toward the Committee’s 2 percent objective, then it likely would be appropriate for the Committee to increase the target range for the federal funds rate in June.”
However, “participants expressed a range of views about the likelihood that incoming information would make it appropriate to adjust the stance of policy at the time of the next meeting.”
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Frazier Allen: The new Social Security claiming rules
Clarksville, TN – Growing up, many of us viewed Social Security as a continuation of our work income, something we’d automatically receive upon retirement. Then reality struck, and we learned there’s more to claiming and receiving Social Security benefits.
So much more. And the strategies to maximize this important source of retirement income can be complicated.
One strategy, known as “file and suspend,” became popular among married couples. The higher earning spouse would file for Social Security benefits once he or she reached full retirement age (FRA) – and immediately suspend them.
Goodbye, File and Suspend. Now What? New rules eliminated this Social Security claiming strategy, but there are other options.
Clarksville Weekly Market Snapshot from Frazier Allen for the week of May 15th, 2016
Clarksville, TN – The economic calendar was quiet until the end of the week. April retail sales results surprised to upside, with upward revisions to February and March. This ran counter to generally weak monthly sales reports from a number of individual retailers.
March sales were likely distorted (and depressed) by the early Easter. Results reflected strong trends in nonstore retailers (which includes Internet retailers), restaurants (helped by low gasoline prices, but also reflecting a long-term trend of households taking more meals outside the home), and drug stores (which likely reflects runaway prices of pharmaceuticals).
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of May 10th, 2016
Clarksville, TN – The economic data were mixed, but generally consistent with moderately strong economic growth in the near term. Motor vehicle sales rebounded in April, from what appears to have been an Easter-related decline in March.
The ISM surveys split; manufacturing a bit softer, non-manufacturing a bit stronger. Nonfarm payrolls rose by 160,000 in the initial estimate for April, below the median forecast (+200,000), but not horrible (note that the economy added 1.057 million jobs before seasonal adjustment).
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Frazier Allen: Looking After Your Modern Legacy
What you pass on can include digital assets and hard-earned wisdom.
Clarksville, TN – For too many, legacy planning focuses solely on the transfer of money and legal documentation, which generally fall under the estate planning umbrella. While all of that is very important, there should be a more personal aspect to the process. After all, we’re talking about your life and how you’ll be remembered.
Your stories, traditions, beliefs and values need not be taken to the grave. These things make you who you are and should be shared with your children and grandchildren. In the past, loved ones might have inherited a shoebox full of letters and photos that helped tell the story of a life well lived.
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Frazier Allen: Kid-Friendly Foundational Finances
Clarksville, TN – We all like to think our children or grandchildren are practically geniuses, but some things just don’t come intuitively. Wise money habits, for example.
Everyone needs to learn the value of a dollar, how to make money work toward our goals and how to protect our financial legacy, even little kids.
In fact, the sooner you start the better.
Help kids of all ages develop smart money habits.
Frazier Allen: Concentrated Positions Can Pose Portfolio Risk
Clarksville, TN – It is important for investors to understand that the very asset that helped create significant wealth may also pose the biggest risk to their future financial security. A concentrated equity position is defined as a substantial portion of an investor’s wealth (10% – 15%, or more in some cases) tied in one stock.
These highly concentrated positions can result from employer stock and option incentives, long-term employment at a single company, a large inheritance, etc.
Holding a large, single-stock position creates significant risk and increases portfolio volatility, which can have a catastrophic effect to an investor’s future financial security.
Concentrated positions may create wealth but they may not protect it.
Clarksville Downtown Residential Development On The Rise
Clarksville, TN – Third generation real estate professional Eric Huneycutt is unashamedly enthusiastic about downtown Clarksville. And, he is proving the adage that enthusiasm is contagious.
His passion for downtown appears to be shared by millennial generation professionals who want convenience and easy access to work, services, and amenities like local restaurants, entertainment and recreation.
Eric Huneycutt outside completed home at 113 West Washington Street.
Sango Pharmacy Receives Clarksville-Montgomery County Green Certification
Montgomery County, TN – Sango Pharmacy is the first pharmacy in Clarksville to become Clarksville-Montgomery County Green Certified.
City of Clarksville Mayor Kim McMillan, Montgomery County Mayor Jim Durrett, Montgomery County Chief of Staff Jeff Truitt, City of Clarksville Chief of Administration Charlie Gentry, and Chamber of Commerce President Melinda Shepherd were there to congratulate the owner and employees of Sango Pharmacy.
Pictured from left to right are: Melinda Shepard, Robin Miller, Jim Durrett, Tera Henry, Kim McMillan, Catherine Meeks, Nicole Campbell, Elizabeth Darmochwat, Andrea Hammermeister, and Jeff Truitt.
Clarksville Weekly Market Snapshot from Frazier Allen for the week of May 1st, 2016
Clarksville, TN – As expected, the Federal Open Market Committee left short-term interest rates unchanged. In its policy statement, the FOMC noted that “labor market conditions have improved further even as growth in economic activity appears to have slowed.”
The key phrase from the mid-March statement, “global economic and financial developments continue to pose risks,” was removed, although officials promised to closely monitor conditions. Equities rallied on the Fed statement (in part, perhaps, because the meeting was simply out of the way), but global markets weakened after the Bank of Japan failed to stimulate further.
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