Blog

[views from the tower] History suggests near-term consolidation, but a positive prognosis for the stock market over the intermediate term.

[view from the tower] Friday was a bad day in the stock market. It stood out even more given the complete lack of downside we've enjoyed over the past couple of months.

[views from the tower] The war in the Straights of Hormuz with Iran continues. According to the liberal media it is a stalemate where the US is losing.

[Views from the tower] After a very aggressive (almost historic) advance in the equity markets stateside, a much-needed digestion has begun. I have been talking about this in the last month or so in my missives...

[views from the tower] The majority of the NASDAQ 100 returns year-to-date has come from four stocks, which is normal. Not abnormal as many prognosticators profess.

[views from the tower] As Thomas Lee has so eloquently stated throughout this year, “This is one of the most hated V-shaped recoveries the equity markets have ever seen.” Turmoil (according to the media) virtually everywhere you turn.

[views from the tower] April came and went, and the war raged on. The month was sort of a blur with tax-day right in the middle of the month and very negative sentiment concerning the conflict and the world stock markets teetering on...

[views from the tower] On April 1rst, Ned Davis Research (NDR) research printed a report on the extreme pessimism on several US Equity market sentiment fronts. Subsequent to this the markets took off.

[Views from the Tower] We went from the end of a civilization to a two-week ceasefire, to a huge risk rally, an inflation jump, to failed peace talks, to a blockade and oil back over $100 and an Orban defeat.

Last week I made mention that after the first 12 weeks of 2026 had passed that only 3 of these weeks were positive for the US stock market. [views from the tower]

In the first 12 weeks of 2026, the equity markets as measured by the S&P 500 were only up 3 of those weeks. Is this a function of the war? Is it a function of the polarization in the political aisles? [views from the tower]

As you go through life, planning for life's unpredictability is essential. If your family has children or adults with special needs, estate planning for their future care becomes vital.

In today’s note, I want to give a bit more color to the war effort and what effect it seems to be having and then go into more detail on AI. [views from the tower]

In the wake of the U.S. and Israeli bombing of Iran, investors understandably wanted to know the immediate ramifications. So, I decided to take a step back to look at potential broader implications for the U.S. stock market.[views from the]

Mike Tyson said it best here. It seems like the entire world is caught up in media and internet entertainment and trying to apply it to their personal situations. This weekend it was Iran. [views from the tower]

Your time is important. For some people, time is as important as money. While most people are concerned about spending their money wisely, few consider spending their time wisely.

What if you focused on your system instead of just your goals? Setting goals for a new year can feel overwhelming. We all know that resolutions don’t last, but we also feel the energy that comes with a new year of possibilities.

Financial wellness is a state of being when one is in control of their finances, can cover expenses, and save for future goals. Consider financial wellness as your relationship with money; it can be either healthy or unhealthy.

What is a special needs trust? If you have a child or other loved one with special needs you may want to establish a special needs trust.

A trust is a legal entity that you can set up and use to hold property for the benefit of one or more individuals (the trust beneficiaries).

The IRS recently released the 2025 contribution limits for health savings accounts (HSAs), as well as the 2025 minimum deductible and maximum out-of-pocket amounts for high-deductible health plans (HDHPs).

More than 100 million American adults currently care for a parent or other elderly relative in their home.1These arrangements are often more by necessity than choice, as paying for outside caregivers or a long-term care facility can cost...

Many are interested in the impact of future tax legislation on Trusts. As we look ahead to 2025, it is crucial to understand how the evolving tax landscape may impact the administration, structuring, and distribution of Trusts.

Saving for retirement is about more than growing your nest egg: It’s also about gaining an edge when it’s time to take your money out. And that’s where the Roth IRA shines.

Just because your military service is up doesn’t mean your benefits disappear. You spent many years of your life serving and protecting your country.

After working hard and providing for your family for all of these years, you are likely counting down the days until retirement and beginning, as The Beach Boys once said, that “endless summer.”

Historically, working mothers have had even higher ambitions in the workforce than working women in general.1 This ambition may drive them to excel in budgeting and financial matters that can help them manage their family's finances.

Although many teens are loath to admit it, they rely heavily on advice from trusted adults in their lives—especially their parents. As these teens begin moving out and heading to college, it becomes even more important to set them on...

Freedom is not won by sitting idly and hoping for a miracle. Financial freedom requires vision, courage, and sacrifice for a higher goal. The Financial Independence, Retire Early (FIRE) movement is a part of that vision.

Many parents want to provide their children with the best possible help and care, even when they transition into college. However, as the children come of age, there is much more to consider than tuition fees and dorm essentials.

Saving money is a fundamental aspect of personal finance that can significantly impact your financial security and future goals. However, determining the ideal amount to put away isn’t a one-size-fits-all equation.

529 plans can be powerful college savings tools, but you need to understand how your plan works before you can take full advantage of it. Among other things, this means becoming familiar with the finer points of contributions and withdrawal

The U.S. Department of Education recently announced significant changes to the interest rates on federal student loans for the 2024-2025 academic year.

Wealth and estate planning are vital for all individuals but are particularly essential for high-net-worth (HNW) individuals in the sandwich generation.

As a young person, you imagine you have all the time in the world to save for retirement. You live in the present with the future a mere blip out on the horizon.

Throughout the years, the market has experienced regular periods of volatility. Periodically, the Federal Open Market Committee (FOMCC) reviews its monetary policy, which creates both worry and anticipation among consumers and businesses.

Taxpayers of all ages may be able to claim a deduction on their 2023 tax return for contributions made to their Individual Retirement Account made through April 15, 2024.

Retirement is often envisioned as a time of relaxation and freedom, a period to enjoy the fruits of years of hard work. However, living a truly "rich" life during these years involves more than just financial security.

If you have a 401(k) plan at work and need some cash, you might be tempted to borrow or withdraw money from it. But keep in mind that the purpose of a 401(k) is to save for retirement.

If you're like a lot of people, retirement won't be the world of gardening, golfing, traveling, and tennis you once envisioned. Rather, retirement will mean relaxing and working.

Planning for early retirement is great, but planning for healthcare coverage at the same time can sometimes be more difficult.

Most American workers who earn wage income and pay Social Security taxes via withholding receive Social Security benefits at some point in retirement.

Whether you're seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals.

Many IRA and retirement plan limits are indexed for inflation each year. Several of these key numbers have increased once again for 2024.

Tax planning might be complex, but it's also essential—especially for high-net-worth families, where missing tax breaks or failing to optimize income could cost significant dollars, maybe millions, over a lifetime.

A holiday season guide to help protect your financial information from hackers

s a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan.

November brings us Thanksgiving – a day for simply giving thanks. The 11th month also brings us Black Friday and Cyber Monday – two days encouraging us to shop.

Tax planning preparations include small-business owners taking necessary measures to optimize their taxes by taking advantage of deductions and benefits.

Your net worth is your personal bottom line. It's what your total holdings are worth after subtracting all of your financial obligations. In financial terms, your net worth is equal to your total assets minus your total liabilities.

Asset allocation is the process of deciding how to divide your investment dollars across several asset categories.

Risk management is a key component in any successful business plan. In today's world — where data breaches are common occurrences — it's especially important for business owners to understand the digital risks they face.

Government employees, such as teachers, firefighters, police, and others, often consider working after their eligible retirement age when presented with a DROPs offer.

Retirement seems like a long way off, but it arrives faster than you think. The big question is, are you ready? What exactly does retirement entail?

Thanks to the Affordable Care Act, your college student can remain on your health insurance plan until age 26.

Whether you are an employee in corporate America or a small business owner, retirement is a part of life.

There's no denying that dating can be an expensive endeavor. However, in a high-inflation environment, the financial pressure of courtship is even more palpable.

Internal audits play a crucial role in the proper functioning and success of a business. They are an essential component of a company's risk management process and provide management with valuable insights.

Sustainable investing is on the rise, accounting for about $1 in every $3 in actively managed assets.1

In response to mounting public concerns about global warming and other forms of environmental damage, many companies are launching initiatives to “green” their products, services, and operations.

In late May 2023, Congress sent a letter to U.S. Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel saying that it will introduce legislation to correct several technical errors in the SECURE 2.0 Act.

A typical college degree is worth a ton of money over a career. A typical degree – but not every college. College costs rose roughly 7% annually over the past 50 years, about double the average yearly inflation rate.

As the cost of a college education continues to climb, many grandparents are stepping in to help.

Regardless of size, companies can benefit when the community in which they do business thrives.

Is owning a boat on your horizon? Do you see yourself paddling a canoe? Piloting a motorboat? Helming a sailboat?

Maybe you've decided that graduate school is the path to advancement in your current job or your ticket to a better career.

It is estimated that about 40 percent of business founders were friends before they became business partners.

With several past and present events involving the White House, data breaches, or classified documents being leaked, the importance of safeguarding confidential information often comes into sharp focus.

An important ingredient to a successful business is adequate financing (capital).

Well it was the end of August and some friends convinced me to go on a float trip. I’m not sure if they invited me because they knew I’ve never been floating or if they wanted to see if I would show up in a collared golf shirt (I did, don’t

The thought of retiring may be intimidating for anyone—but if you own your own business, handing your "baby" to new owners might be enough to stop you in your tracks.

Retirement is an exciting time, but it can be tough to leave behind the safety net of a stable income or the work routine you’ve followed for decades.

Getting laid off can be a very difficult and emotional experience, especially if you have been with the company for a long time.

Listening to John Coltrane or other favorite jazz musicians is like watching the leaves swirling through the city streets on an autumn day.

Choosing a financial professional is a major decision. Finding someone you trust enough to manage your money and your future may feel like a nerve-wracking choice.

Everyone needs to have some level of financial literacy to help manage their finances. However, financial literacy becomes even more crucial when you're a business owner.

When you own a business and have employees, becoming disabled impacts you and your family and your employees and business.

The SECURE Act 2.0 was signed into law on December 29, 2022, which will work to close the retirement savings gap with over 90 new retirement provisions.

Some older workers return to the workforce or continue to work well past retirement age. Workers over 50 may change jobs while working in the same occupation or field later in life to continue their careers for longer.

Pension plans are still offered at many types of employers today. A pension plan is an employer-sponsored retirement savings plan the employer contributes toward to fund their employees' future retirement.

The Setting Every Community Up for Retirement Enhancement Act of 2019 – the SECURE Act – was passed by Congress and signed into law on the days leading up to Christmas 2019.

A qualified domestic trust (QDOT) allows a U.S. citizen spouse to transfer assets to a noncitizen spouse without having to pay federal gift and estate tax at the time of the transfer.

With the new year right around the corner, you may be wondering what’s in store for the economy in 2023. To help ensure your financial success, here are some insights into the recent impacts of inflation.

Stock markets in the U.S. and around the globe turned in a rotten 2022, with fears of inflation, rising rates, and supply chain issues swirling around the economy and markets all year.

Economists have shaped the modern world in many ways. Governments make policy choices in response to the data that we produce about things like GDP and inflation.

Women are more vulnerable to financial insecurity because they typically live longer, have more breaks in their employment and earn less.

I made after-tax contributions to my 401(k). When I retire, can I roll that money into a Roth IRA tax-free?

Generally, businesses pass through three stages before reaching the final stage of decline. The time it takes to reach or to pass through each stage varies by business.

When a spouse dies, the emotional magnitude of the loss can send your life reeling. It can also affect your finances. You are pressured to do many things all at once.

As the calendar gets ready to turn to 2023, there are a lot of economic metrics worth paying attention to, especially as each will have an impact one way or another on our investments.

The 2022 FIFA World Cup kicked off on November 20th when host-country Qatar lost to Ecuador 2-0, becoming the first host country in the competition’s 92-year history to lose its opening game.

Broadly speaking, a gift occurs when you transfer something (e.g., your business interests) to another party without receiving something of at least equal value in return.

Any small-business owner could attest that everyone needs a break sometimes. And the holiday season may provide an opportunity to take a few days (or longer) for yourself

Consider opportunities to defer income to 2023, particularly if you think you may be in a lower tax bracket then.

Hurricane Ian barreled ashore with winds of up to 150 mph (240 kph) on Florida’s southwest coast on Sept. 28, 2022.

There may be personal (nontax) reasons why you would want to gift some or all of your business interests.

The holiday season means shopping is at its peak, and while many consumers are familiar with Black Friday and Cyber Monday, they may be less familiar with Green Monday.

Shoppers spend nearly $20 billion every year on Small Business Saturday.1 If you’re not familiar with this particular holiday, it takes place in the U.S. the day after Black Friday in November, and a few days before Cyber Monday.

The term HENRY (High Earners Not Rich Yet) refers to individuals who have the potential to become wealthy in the future because of their income.

[views from the tower]The rally seen in the equity markets post-CPI and post-PPI has been largely met with skepticism. This is essentially true of the gains seen over the past week and past month.

[views of the tower] Friday the Labor Department released numbers for July. The number came in at 528,000 jobs created versus the expected 258,000.

[views of the tower]The markets and the economy are based on simple principles of economics and forward progression of earnings to create proper (perceived) valuations for companies today and into the future.

[views from the tower]Today, the frictional buzz is now all about inflation and recession. It feels quite strange that the Fed would be raising interest rates as the economy is supposedly racing into the jaws of a recession.

On bright and sunny summer days, the allure of the water can be irresistible. If you live near a lake, river, or ocean, boating trips may be the perfect getaway when warm weather hits.

Even before the financial challenges so many people have faced due to the ongoing COVID-19 pandemic, an estimated one in five Americans had no retirement savings.1

If you are newly married with no children, you may have a special opportunity to build your savings and investments. Financially, a married couple can be more than the sum of its parts.

[views from the tower]It's clear that the buzz of the last few weeks has been college basketball's Sweet Sixteen tournament, and Monday of this week was the last game of the season's Final Four.

[views from the tower]Domestic growth continues to be strong. Since our economy is very diverse, growth can be categorized in many ways.

[views from the tower]In today's newsletter, I am going to cover what I believe to be the important points to cover that should be focused on instead of focusing on the continued death and destruction being espoused by the media.

[views from the tower]Vladimir Putin's diabolical invasion of Ukraine has succeeded in turning Russia into a rogue state, and with his nuclear threats, he is playing an insanely dangerous game.

[views from the tower]There is so much going on right now that I’m not even sure where to begin. By now, anyone plugged into the news and financial markets should have a rough idea of what has been happening

[views from the tower]As humans, we are inherently emotional animals. As such, right, wrong, or indifferent, we want an answer to a problem. Why did it happen? How bad will it get? How do we fix it?

[views from the tower]It has been some time since we have had the “darlings” of Wall Street be the “heels” of the market for such an extended period of time.

[views from the tower]As the heat held strong on the Russian invasion of Ukraine, I have to wonder if Putin and China’s Xi bought index puts against the US stock market to benefit from the decline experienced last week?

[views from the tower]One of the most popular questions we’ve received lately is what could happen in the upcoming midterm election?

[views from the tower]By any number of measures, the markets have taken quite a hit. For example, as of January 25th, 2022, the average stock in the Russell 2000 Index has experienced a drawdown of almost 40%, and in the NASDAQ Composite.

[views from the tower]Before I dive into this week’s focus, I want to take a moment and talk about some major policy items that people should be aware of.

[views from the tower]If I’m being honest – last week was brutal. I know I wasn’t the only one who was looking for a bag of frozen peas to help numb the pain of losing the octagon match against the Market.

[views from the tower]Normally when you think of January you think cold temperatures or winter. But as of late, the markets have been heating us up and not in a good way.

[views from the tower]This week I intend to start things out a little differently. I could go into all of the different things that I think should be paid attention to, but when we start the week (after three really ugly weeks) with the DJI

[views from the tower]This past week certainly wasn't the destroyer that the first week of the year was, but after a promising bounce following the Monday morning punch to new short-term lows on the major indexes

[views from the tower]Many analysts were disappointed by last Friday's job report for December, but we think the headline masks an overall report that shows continued improvement in the labor market and a possible surge in small-business...

[views from the tower]2021 was the year of a continued virus, rising inflation, and the promise of higher interest rates from the Fed. Not a trifecta of great things, yet the market had its best year out of the last three really good years!

[views from the tower]Now that 2021 is about done, the next logical question is where will the S&P 500 be at the end of 2022.

[views from the tower]To me, this current market is starting to feel a lot like it did when COVID first hit in 2020, yet this time we know what happened. In 2020, there were very severe cases that, to many, became lethal.

[views from the tower]If there haven't been enough interruptions already, this week should be the last big week of the year, with five major central banks scheduled to meet and nine more from emerging market countries.

[views from the tower]At the close on Friday, the NASDAQ Composite Index was down 6.1% and the S&P 500 was down 3.5%, from their recent all-time record highs.

[views from the tower]I know it may sound strange, but I really think that the markets needed a day like Friday. Was it painful? Was it a shock? Was it based on a new variant?

[views from the tower]Today’s report will be a little different than usual. There once again isn’t much new to say about the short-term setup in the market, so while I will discuss that a little

[views from the tower]Sometimes the noise around us takes our focus away from what we should be paying attention to. At present we have Virus, Vaccine, massive new financing packages, and many others so uncommon that we are having trouble..

[views from the tower]Exiting last week, roughly 90% of the S&P 500 constituents have reported their quarterly results, with 82% of them beating on EPS and 68% beating on revenue, which compares to an average of 79% beating on EPS and 65%..

[views from the tower]Brother wind, rain, a broken supply chain, rising inflation, slowing GDP, flattening bond yield curve, Cushing oil supply hitting critical point, slowing incomes (due to ending of Government subsidies).

[views from the tower]When I am asked what I worry about in the financial markets, the answer usually is "nothing and everything,” because everyone else in the market seems to spend an inordinate amount of time worrying, and so all of...

[views from the tower]In the face of the greatest stimulus in the history of mankind, it is a small wonder that it is leading to the US adding as much debt in the last 18 months as was in place up until 2006 for the whole history of this co

[views from the tower]This week is set to begin earnings season for the third quarter of this year. It should be kicked off with earnings reports from large money center banks.

[views from the tower]Investors have become preoccupied with Federal Reserve monetary policy with regard to the anticipated tapering of the Quantitative Easing bond-buying program, along with continuing concerns about the virus and the...

[views from the tower] It's important to understand where the market has come from over the past couple of weeks. As I have noted in recent missives, the rally that we're seeing following Monday of last week's gap-down panic break on the...

[views from the tower]I've spoken about the major economic and international elements that seem to be shaping the direction of our US equity markets, but this week seems to be a little more tenuous. In my September 8th missive...

[views from the tower]Valuation is a perfect example of something that investors are told matters a great deal, but I have not seen any real evidence to support that in practice.

[views from the tower]For the last two weeks, every time it looked like the stock market might correct a bit deeper it (once again) just came right back.

[views from the tower]I plan on talking a bit about where the markets are as they seem to continue to go to all-time highs: the S&P 500, Dow Jones Industrial Average, New York Stock Exchange, and the NASDAQ Growth Index.

[views from the tower]Before March 2020, there really hadn't been a comparable broad market sell-off since the 2007-2009 Financial Crisis, and many stockholders considered themselves to be "long-term investors,’ yet had not really been...

[views from the tower]The Producer Price Index surges to all-time highs, and the S&P 500 and the Dow Jones Industrial Average does as well, hmmmm, that's a little strange.