The Retired Investor: Economic Growth Versus Government EfficiencyBy Bill Schmick,
04:13PM / Thursday, January 16, 2025 | |
We grew up with tales of $500 toilet seats and bridges to nowhere when describing the abuses of government spending. In a few days, Americans will get our first taste of what it will mean to make our government efficient once again.
The Department of Government Efficiency (DOGE) is not an official government department. That would require an act of Congress. Since members of that august body have been the major contributors to decades of inefficient use of government funds, it probably was a good idea to bypass a vote on making DOGE "official."
Instead, it will operate as an advisory body, run by two of President-elect Trump's closest allies 0 Comments
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@theMarket: Markets Falter to Start the Yearby Bill Schmick,
02:09PM / Friday, January 03, 2025 | |
After several days of profit-taking, stocks tried to stage a recovery in the first two days of the new year with varying success. Traders are cautious and fear that there may be more downside to come.
While Santa made at best a brief appearance this year as far as the expected rally was concerned, the damage was not all that great. The S&P 500 Index suffered a loss of less than 3 percent from its all-time high while NASDAQ was hit harder.
The dollar and bond yields continued to climb as foreign currencies fell against the dollar in preparation for the incoming administration's expected new tariff regime. Most overseas markets vastly underperformed 0 Comments
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The Retired Investor: IRS Incentive Boosts for Savers Not Nearly EnoughBy Bill Schmick,
04:25PM / Thursday, January 02, 2025 | |
Saving for retirement will get a little more attractive next year. Given the dire state of savings in this country, anything that convinces workers they need to save more will be beneficial.
The Secure Act 2.0, enacted in 2022, ushered in several additional improvements in retirement savings, including even higher 401(k) plan catch-up contributions. The object was to make it easier for older American workers facing a retirement savings shortfall to set aside more money quickly.
The facts are that there is a widespread retirement savings shortfall in the U.S. that spans generations. Sixty-five percent of Baby Boomers (age 55-64) have less than $25,000 0 Comments
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