Valerie Peck |
Personal finance, like just about everything else, is mainly common sense. Advice like “don’t spend more than you make; start investing while you’re young; don’t loan money to friends with the expectation of getting it back,” have been around for generations, and most likely will survive the next few generations as well. Even money mistakes that are corrected early enough will have little impact on your wealth going forward. What you do want to avoid...
In this month’s recap: equity and commodity markets experience major losses, the Fed sends a hawkish message, home sales improve, and the economy maintains its momentum. Monthly Economic Update Presented by Peck Financial Advisors, January 2019 THE MONTH IN BRIEF December 2018 will be remembered for its volatility and its challenges. The S&P 500 flirted with bear market territory, dropping 10.16% for the month. Appetite for risk declined here and abroad in the face of...
In this month’s recap: equities rise with a little help from the Fed, oil dives, and most key domestic indicators look quite strong. Monthly Economic Update Presented by Peck Financial Advisors, December 2018 THE MONTH IN BRIEF For most of November, the stock market was plagued by the same skepticism evident in October: the sense that corporate profits were declining and economic growth was slowing. Then Federal Reserve chairman Jerome Powell threw investors a line...
In this month’s recap: another correction hits Wall Street, housing indicators raise questions, but consumer confidence, consumer spending, and GDP look healthy. Monthly Economic Update Presented by Peck Financial Advisors November 2018 THE MONTH IN BRIEF October certainly lived up to its reputation for volatility. The S&P 500 suffered its second correction of the year as investors wondered if they were seeing early signs of the peak of the current business cycle, absorbing news of...
Valerie Peck |
Tolerate the Turbulence Look beyond this moment and stay focused on your long-term objectives. Provided by Peck Financial Advisors Volatility will always be around on Wall Street, and as you invest for the long term, you must learn to tolerate it. Rocky moments, fortunately, are not the norm. Since the end of World War II, there have been dozens of Wall Street shocks. Wall Street has seen 56 pullbacks (retreats of 5-9.99%) in the past...
In this month’s recap: the Fed hikes again, wage growth ascends, mortgage rates rise notably, and stocks advance. Monthly Economic Update Presented by Peck Financial Advisors, October 2018 THE MONTH IN BRIEF Wall Street maintained its optimism in September. While trade worries were top of mind for economists and investors overseas, bulls largely shrugged at the prospect of tariffs and the probability of another interest rate hike. The S&P 500 rose 0.43% for the month...
In this month’s recap: stocks make history, consumer confidence rises, the housing market’s summer slump continues, and a new trade pact might replace NAFTA. Monthly Economic Update Presented by Peck Financial Advisors, September 2018 THE MONTH IN BRIEF Wall Street had much to celebrate in August. The S&P 500 and Nasdaq Composite both reached historic heights, with the Nasdaq crossing two 1,000-point milestones in a calendar year for the first time since 1999. The current...
Ways to Repair Your Credit Score Steps to get your credit rating back toward 720. Provided by Peck Financial Advisors We all know the value of a good credit score. We all try to maintain one. Sometimes, though, life throws us a financial curve and that score declines. What steps can we take to repair it? Reduce your credit utilization ratio (CUR). CUR is credit industry jargon, an arcane way of referring to how much...
Valerie Peck |
Introduced in 1989, reverse mortgages were designed for homeowners nearing retirement age. The premise behind a reverse mortgage is to allow those aged 62 or older, with at least 50% equity in their home, to tap that equity in the form of a payment that will be made to them monthly. The complete opposite of a standard mortgage, reverse mortgages use the home’s equity to pay borrowers a set amount each month, with owners no...
Valerie Peck |
Of all the things you’ll purchase in your lifetime, it’s likely that your home will be the largest, most expensive purchase you will ever make. While homes vary widely in price throughout the U.S., the median price of a home today is close to $300,000. While there are a lot of things that you can do prior to purchasing a home, such as getting your credit in order, and saving for the down payment, the...
Valerie Peck |
Of all the things you’ll purchase in your lifetime, it’s likely that your home will be the largest, most expensive purchase you will ever make. While homes vary widely in price throughout the U.S., the median price of a home today is close to $300,000. While there are a lot of things that you can do prior to purchasing a home, such as getting your credit in order, and saving for the down payment, the...
Valerie Peck |
If you’ve always dreamed of living abroad, now may be the best time. Today, there are around 400,000 American retirees residing outside the United States, with that number expected to grow over the next few years. Cost of living is often cited as one of the main reasons for the move. For example, in places like Mexico and Costa Rica, it’s possible to live off of a Social Security check, while enjoying a relaxing lifestyle...