Weekly Market Recap – February 27, 2023
Wall Street reacted negatively to hotter-than-expected inflation data at the end of last week. Each of the major benchmark indexes closed lower, with the Nasdaq falling more than 3.3%, while the remaining indexes suffered losses close to 3.0%. The S&P 500 endured its worst week in 2023, while Treasury yields climbed higher, as bond prices […]
What You Should Know About Required Minimum Distributions (RMDs)
What are RMDs? At some point, the government wants you to start spending your tax-sheltered retirement savings, or at least pay taxes on the income. That’s why it requires you to withdraw minimum payments annually from your traditional IRAs and employer-sponsored retirement plans after you reach a certain age. These are referred to as RMDs […]
Weekly Market Recap – February 6, 2023
The Markets (as of market close February 10, 2023) Stocks dipped lower last week as investors mulled the direction of the economy as the Federal Reserve continued to increase interest rates, bolstered by January’s strong labor report. With fourth-quarter corporate earnings reporting season nearing a close, fewer companies are topping profit expectations, which may be […]
What you need to know when choosing a beneficiary
When was the last time you reviewed your beneficiary designations? The beneficiaries you name on your financial accounts take precedence over a trust or will. That’s why making sure your beneficiary designations are current is critical. We recommend reviewing your beneficiaries annually, and after major life events like marriage, divorce, a new child, and death. […]
Weekly Market Recap – February 6, 2023
The Markets (as of market close February 3, 2023) Just when investors saw a glimmer of hope that the Fed would soften its rate-hike policy, the January labor figures came out showing a massive job increase coupled with moderated wage growth. The latest employment data is evidence of a labor market that has withstood the […]
Weekly Market Recap – January 30, 2023
The Markets (as of market close January 27, 2023) Wall Street ended last week higher on favorable inflation, economic, and corporate earnings data. Investors now must await the Federal Reserve’s meeting this week to see whether the Fed will soften its policy of aggressive interest-rate hikes. Fourth-quarter corporate earnings season is wide open with roughly […]
Weekly Market Recap – January 23, 2023
The Markets (as of market close January 20, 2023) Last week saw stocks slide lower, despite a rally last Friday. Only the tech-heavy Nasdaq was able to post a gain among the major benchmark indexes. Throughout the week, investors had to balance data that showed inflation was waning with the impact rising interest rates may […]
Shareholder coalition withdraws transparency proposal in light of Apple’s plans
A coalition of investor advocates led by Azzad Asset Management withdrew a shareholder proposal this month after reaching an agreement with Apple Inc. regarding the company’s plan to improve its transparency reports and specifically add clarity around the removal of applications from its app store in response to government requests. The proposal raised concerns about […]
5 Financial Resolutions to Start 2023 on the Right Foot
The beginning of a new year is a great time to commit toward improving your financial life. Do you have an old 401(k) that’s riddled with haram holdings, but haven’t found the time to correct it? Perhaps you’re busy working hard only to feel like your savings going nowhere. Is your financial life so chaotic […]
FTX – Lessons Learned from a Lack of Due Diligence
What do a supermodel, Shark Tank star and sovereign wealth fund have in common? They all failed to ask questions before investing their money. The investments were related to the cryptocurrency exchange FTX and its trading arm affiliate, Alameda Research. Here are 4 factors you should consider before you invest in any potential investment. Conflicts […]
