Dear Garden State Trust: The Federal Reserve cut interest rates by half a percentage point on March 3. What does that mean for my portfolio? —Skittish Investor Dear Skittish: Normally the Federal Reserve makes interest rate adjustments at its regularly scheduled policy meeting. The rate cut on March 3 was between meetings, which is the…
Author: gstc
Myth or Reality – What Affects Your Credit Score?
Even the most responsible person in the world who has never missed a payment could be missing a good credit score. Why? Because it takes time to build a reputation, which is based on what you’ve done. The general guidance for creating a good reputation and credit score aligns with what one would expect: Live…
RMDs After the SECURE Act
Dear Garden State Trust: My wife and I each have IRAs. I was born May 1, 1949, she was born September 1, 1949, so we will both be 71 this year. I’ve heard that required minimum distributions from IRAs are no longer required until age 72, is that right? —Confused Retiree Dear Confused: You are…
Money for Seed, or Money to Spend?
Sometimes, the shock of a sudden death can provide a sharp focus on things we did not appreciate soon enough, and what we know but don’t always act on. It’s always worthwhile to express our appreciation for those we care for. With the recent tragic helicopter crash that led to the loss of Kobe Bryant,…
Having “The Talk”
Dear Garden State Trust: When should I talk to my children about their inheritances? —Thoughtful Parent Dear Thoughtful: As a general rule, sooner is better than later. An inheritance should not come as a surprise; it is something that requires preparation and planning. In that way, an inheritance may prove to be more than a…
One Decade at a Time
The last decade was one of tremendous market optimism, which included the longest bull market in American history. That is because we have gone 130 months as of January 1st 2020 without a 20% or greater decline in the stock market, breaking the previous record of 113 months. Fun Fact! The terms for being bullish…
Federal Estate Tax Exemption
Dear Garden State Trust: My estate is about $10 million—do I have to worry about federal estate taxes? —Affluent, Not Rich Dear Affluent: You are close to the boundary for exposure to the federal estate tax. The exemption for 2020 has been increased to $11.58 million, which would seem to let you off the hook.…