With news from the White House and Congress peppering the landscape continually, and the media covering midterm elections that historically might have gotten much less attention, investors are likely wondering, “Will the outcome of the midterms—whatever it is—influence my portfolio?”
Author: Julianne F. Andrews, MBA, CFP®, AIF®
John Adams and the founding fathers specifically recommended “illuminations” to celebrate the anniversary of the country’s birth. The official decree calling for fireworks on July 4th was written even before the country was officially formed. Even though fireworks are almost exclusively reserved for these patriotic celebrations, we think you deserve some fireworks of your own – to mark your progress on the path to financial freedom.
If you are having a serious case of wanderlust but feel chained to the office, let’s shift your thinking – and your timing. Start considering travel as a good investment, not something you put off until it’s “bucket list” time. That’s the advice of a non-retired financial planner who recently returned from Antarctica – me. Not only did I come home with memories of penguins and glaciers that I will never forget, I picked up a serious need to start planning my next adventure right now.
At the end of March, the Federal Open Market Committee (FOMC) announced that it was increasing the fed funds rate by 0.25%. This rate, which is also known as the “overnight rate,” is the rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight on an uncollateralized basis so that those institutions can meet their reserve balance requirements. The general consensus is that this increase is the first of three this year although some analysts think there could be as many as four rate hikes in 2018.
When the Tax Cuts and Jobs Act of 2017 took away Georgians’ ability to deduct their paid state income taxes on their 2018 returns, it sent filers scrambling to maximize the deductions that remain. A new deduction which debuted this year offers a maximum tax credit of $10,000 and a chance to help save Georgia’s financially struggling rural hospitals.
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