Wealth Management News & Insights
Ask a Planner – Dana R. Cahan, CPWA, Wealth Advisor
- Can I Still Contribute to My Individual Retirement Accounts for 2022? While 401(k) plans run on a calendar year, IRA accounts have a grace period that allows you to deposit money in the current year and apply it to the prior year. Depending on your situation, this could potentially lower your taxable income for the year, by either reducing your tax bill if you owe money or increasing your refund if you don’t. [READ MORE]
Primary Sources
- Recent Bank Failures and the Federal Regulatory Response: My testimony today will describe the events leading up to the failure of SVB and Signature Bank and the facts and circumstances that prompted the decision to utilize the authority in the FDI Act to protect all depositors in those banks following these failures. [FDIC]
- It’s Tax Time: Getting a Tax Refund? Consider Investing It: It’s tax time. If you’re fortunate enough to be getting a tax refund this year there are countless ways you can spend the money−going on a vacation, buying a car, or upgrading your computer. [Investor.gov]
Financial Markets
- Latest Fed Increase Came Down to the Wire. ‘That Was a Rough Weekend’: Jerome Powell and other officials waited and watched the fallout from SVB, Swiss bank crisis, finally deciding the financial system was stable enough to raise rates. [WSJ]
- SVB’s New Owners, The Billionaire North Carolina Family Behind First Citizens, Are Quietly Building A Banking Empire: North Carolina’s First Citizens Bank doubled its size with its landmark FDIC-assisted acquisition of Silicon Valley Bank, and nobody will reap the rewards more than the family that has orchestrated its growth for the last century. [Forbes]
- Russia’s Economy Is Starting to Come Undone: Investment is down, labor is scarce, budget is squeezed. Oligarch: ‘There will be no money next year’. [WSJ]
- The Economy Shows Signs That it’s Starting to Cool as Job Openings Slip to 9.9 million and it’s Good News for the Fed: U.S. job openings slipped to 9.9 million in February, fewest since May 2021 and a sign that the job market may be starting to cool, which would be welcome news for the inflation fighters at the Federal Reserve. [Fortune]
- Scaramucci’s SkyBridge Capital Was Spiraling, and Then Came FTX: The hedge fund’s bad crypto bets—and a reputational hit from its partnership with Sam Bankman-Fried—have investors looking for the exit. [Bloomberg]
Financial Planning
- Apartment-Building Sales Drop 74%, the Most in 14 Years: Interest-rate increases and banking upheaval push down demand for multifamily buildings. [WSJ]
Retirement Planning
- Here’s What Retirement Looks Like in America in Six Charts: From 401(k)s to healthcare, a look at how Americans spend time and money in retirement. [WSJ]
Business Strategy
- The New Rules of Layoffs: When McDonald’s Corp. MCD -0.05%decrease; red down pointing triangle said it would temporarily close its U.S. offices as it conducts layoffs at the burger chain, it brought renewed attention to a debate swirling inside HR departments: What is the best way to let people go? [WSJ]
Life & Work
- Forbes World’s Billionaires List 2023: Falling stocks, wounded unicorns and rising interest rates translated into a down year for the world’s wealthiest people. [Forbes]
- Six Future Technologies That Will Change Your Health: Do-it-yourself ultrasounds. Devices to help you sleep. Medical experts weigh in on advances they see coming for health and wellness. [WSJ]
- UConn Wins the NCAA Men’s Basketball Title: The Huskies beat San Diego State, 76-59, to win the school’s fifth championship in the sport. [WSJ]
- Sleepovers Are Now a Battleground: Parents split on slumber parties, once a rite of passage—‘I’ve had parents ask me if we have a water filter’. [WSJ]
- Meet the 18-Year-Old Who Wants to Be Disney’s Next CEO: Cori Borgstadt started attending Disney shareholder meetings in 2008 and has asked Iger: What advice would you give to ‘a kid who wants your job’? [WSJ]
Zuckerman Investment Group, LLC (“ZIG”) is registered with the United States Securities and Exchange Commission (“SEC”) as an investment adviser. Such registration with the SEC does not imply any certain level of skill or training. It also does not imply that the Firm is recommended or approved by the United States government or any regulatory agency. The information contained in this email has not been filed with, reviewed by or approved by the SEC or any other United States regulatory or self-regulatory authority.
The information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including, but not limited to, warranties of performance, merchantability, and fitness for a particular purpose.
Zuckerman Investment Group, LLC may only transact business or render personalized investment advice in those states and international jurisdictions where it is registered, has notice filed, or is otherwise excluded or exempted from registration requirements. This is for information distribution only and should not be construed as an offer to buy or sell securities or to offer investment advice. Please refer to Zuckerman Investment Group, LLC’s ADV Part 2 (brochure) and Form CRS for additional information.
We have no responsibility for any information or policies of any other websites that may be accessible from this email via hyperlink. Zuckerman Investment Group does not endorse, sponsor, or promote any products or services offered by any website that may be linked to this email. If you access any other website through this email, you do so at your own risk. Parties may not reproduce this email in any form, nor reference it in any publication, without the express written consent of Zuckerman Investment Group, LLC.