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Small Companies Face Costly Cybersecurity Threats

  Possibly because many large corporations have enhanced their security policies, 40% of all targeted Internet attacks are directed toward more vulnerable companies with fewer than 500 employees. Unfortunately, only 52% of small businesses have a basic cybersecurity plan.1 Small businesses often use the Internet to market their products and services, accept electronic payments, and […]

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Designating Retirement Plan Beneficiaries

  IRAs and defined-contribution plans have become an important component of personal wealth — averaging roughly 60% of the assets of U.S. households with $100,000 or more to invest, according to recent research.1 Designating account beneficiaries (in light of your overall estate conservation strategy) and keeping those designations up to date can be a complex […]

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Pick Up This Split for Long-Term Retirement Income

  The number of Americans aged 90 or older almost tripled from 1980 through 2010 and is projected to quadruple by 2050.1 Of course, reaching 90 is still an unusual accomplishment, but the average 65-year-old can expect to live another 19 years.2 A portfolio that provides steady income for both the short and the long term […]

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Averaging Ups and Downs

Market volatility seemed to be the norm in 2011. In just two trading days (October 31 and November 1), for example, the Dow Jones Industrial Average lost almost 4.7% of its value. At the end of the month, the Dow gained 4.2% in a single day (November 30).1 As an investor, you may find that […]

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Investing in the Future

  Parents generally don’t have to be convinced of the value of a college education for their children. Studies show that college graduates not only earn more but are healthier, more satisfied with their jobs, and more likely to remain employed during tough economic times.1 But paying for college becomes more challenging every year. Over […]

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American Manufacturing: Rebound or Renaissance?

The Great Recession affected the full spectrum of the U.S. economy, but the impact on the manufacturing sector was especially strong. Production dropped by more than 20%, and nearly 2.3 million manufacturing jobs were lost.1–2 The good news is that manufacturing production is climbing toward pre-recession levels, increasing at an annual rate of 10.4% in […]

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Rebalancing World Trade

  Despite the European debt crisis and the related market turmoil, total U.S. exports demonstrated six months of record-breaking increases last year and reached an all-time high of nearly $180 billion in September 2011.1–2 Rising exports have generated nearly half of U.S. gross domestic product (GDP) growth since the recession ended in June 2009.3 Sales of […]

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Hanging the “Help Wanted” Sign

  Toward the end of 2011, an index that measures the hiring intentions of small businesses rose to its highest level in three years, and another report estimated that small businesses have added about 1.2 million new jobs since October 2009.1–2 All told, businesses with fewer than 500 employees have created about 65% of new jobs […]

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Socially Responsible Investing Joins the Mainstream

  It’s not surprising that some people have a strong desire to steer their money toward entities that endeavor to make a difference in the world. Growing investor interest — and wider recognition that social and environmental issues can amount to material financial risks and/or rewards for corporations — has landed socially responsible investments (SRIs) […]

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Help Protect Your Assets

  Lawsuits have become increasingly common in our society. From 1951 through 2009, the cost of torts (civil suits) rose at more than double the annual rate of general inflation and even surpassed the annual increase in medical expenses (see chart). In this litigious environment, it is especially important to protect your assets and your […]

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To Convert or Not to Convert? That’s the Roth Question

  Nearly 20 million U.S. households have a Roth IRA — a significant number considering that it has been around only since 1998. However, Roth IRA participation still lags behind that of traditional IRAs, which were first introduced in 1974.1 The good news is that you can invest in more than one type of IRA […]

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Watching for Weakness in the Global Economy

  In April, the International Monetary Fund (IMF) forecasted global economic growth of 3.5% for 2012, noting that the U.S. economy had gradually gained momentum, whereas China and other emerging economies appeared to be headed for gradual slowdowns. However, the IMF also warned that if the debt crisis in Europe deteriorated into a worldwide financial […]

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What Is Your Business Worth?

  The market for selling small businesses improved slightly last year, but buyers typically still had the upper hand. The median selling price rose 3.3% to $155,000, while the median revenue for firms sold in 2011 rose by 6.7%.1 Lenders generally require a professional valuation before extending credit to owners and buyers. But even if […]

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Following the Federal Reserve

  To spur borrowing and boost the economy, the Federal Reserve cut the federal funds target rate to near zero at the end of 2008. More recently, the Fed disclosed that it is unlikely to raise rates until late 2014. In January 2012, the central bank released detailed forecasts for the federal funds rate — […]

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Costs of Caregiving

  More than 65 million Americans — about one out of three adults — provide care for someone who is ill, disabled, or aged.1 Although these caregivers are unpaid, the total value of their efforts is estimated at $450 billion annually — more than the value of paid home health care and more than the 2010 […]

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Investing When Rates Are Low

  Interest rates have been exceptionally low for three years now — and are expected to remain so through the end of 2014, according to the Federal Reserve.1 Meanwhile, market volatility has been high. These are challenging times for risk-averse investors who want to improve their returns. If you are retired or approaching retirement, capital preservation […]

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What’s Your Retirement Vision?

  Wouldn’t it be disappointing to dream about a comfortable retirement and then find yourself unable to enjoy your leisure years because of limited financial resources? Unfortunately, this is a possibility for people who underestimate retirement expenses and the rising cost of living. Evaluate Spending and Costs Although your expenses may change when you retire, […]

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Coming to America: Foreign Travelers Boost U.S. Economy

  International visitors to the United States spent a record $153 billion in 2011, an increase of 14% over 2010. That’s good news, but just as significant is the fact that the travel and tourism balance of trade produced a surplus of $42.8 billion — a historic high and a 35% increase over the previous […]

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The ABCs of Business Structure

  A small business can adopt a number of business structures for tax and legal purposes. Each has its own advantages and disadvantages. Sole proprietorships, partnerships, and limited liability companies (LLCs) are fairly basic forms of ownership, whereas corporations are significantly more complex. There are two primary types of corporations in the United States. C […]

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Following the Leading Index

  The Conference Board’s Leading Economic Index (LEI) is designed to assess the U.S. economic outlook for the next three to six months. Because the LEI is forward looking, businesses and investors may use it to help anticipate what could be ahead and make informed decisions. The LEI summarizes a large amount of economic data, […]

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Inherited IRAs Come with Critical Choices

Many people who inherit a tax-deferred IRA are confronted with a complex array of rules, restrictions, and deadlines that may make it difficult for them to determine how to proceed. Unfortunately, beneficiaries must often make binding decisions about inherited retirement assets before they may be prepared to do so. Of course, beneficiaries can liquidate inherited […]

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Understanding Your Social Security Options

About half of retirees file for Social Security benefits when they first become eligible at age 62.1 The age to receive “full” Social Security benefits is 66 for workers born between 1943 and 1954. If you were born in this period and file for benefits at age 62, you would typically receive 75% of your full […]

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Understanding Your Social Security Options

About half of retirees file for Social Security benefits when they first become eligible at age 62.1 The age to receive “full” Social Security benefits is 66 for workers born between 1943 and 1954. If you were born in this period and file for benefits at age 62, you would typically receive 75% of your full […]

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The Benefits of Giving

A recent study using data from 136 countries suggests that spending money for the benefit of others promotes a feeling of happiness in the giver.1 This may not be surprising to the many people who donate to charity. Almost three-fourths of charitable giving in the United States comes from individuals (see chart). Charitable contributions could also […]

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Landmark Decision: The Supreme Court and the Affordable Care Act

  On June 28, 2012 — two years and two months after passage of the Patient Protection and Affordable Care Act (ACA) — the U.S. Supreme Court upheld the constitutionality of the law by a vote of five to four.1Unless Congress takes further action, the provisions of the act currently in effect will remain so, […]

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Taming Taxes

Small-business owners and independent contractors may be more likely than other taxpayers to benefit from the home-office tax deduction, which has an average value of more than $2,600.1 But some taxpayers may be hesitant to claim this potential tax benefit on their personal tax returns, fearing that it could trigger an IRS audit. Their worries are […]

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Surprise! It’s Retirement Time

  In a 2012 survey, 50% of current retirees said they retired earlier than they had planned, up from 45% in 2011.1 Many retirees reported reasons that were beyond their control, such as health problems or disability, company downsizing or closure, changes in the skills required for their jobs, or having to care for a […]

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Consider These TIPS

Nobel prize-winning economist Milton Friedman once said that “Inflation is taxation without legislation.”1 You’re probably aware of how taxes reduce your earnings, but have you thought about the effect of inflation? Over the last 50 years, U.S. inflation (as measured by changes in the consumer price index or CPI) has averaged a little more than 4% […]

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Becoming a More Rational Investor

Studies by the Investment Company Institute and the Federal Reserve Board indicate that investors’ willingness to assume risk tends to rise and fall with the stock market.1 Of course, it’s not surprising that people are more likely to pour money into stocks when the market is trending upward and to retreat when the market trends downward. […]

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How Much Life Insurance Do You Need?

In a recent study, 40% of consumers responded that they don’t have enough life insurance to meet their families’ long-term needs.1 This concern raises an obvious question: How much life insurance is enough? What might be appropriate for a family with two young children and a stay-at-home spouse could be significantly different from the needs of […]

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Rediscovering Fossil Fuels: Could the Energy Boom Transform the Economy?

  Growing demand from developing economies caused global oil prices to rise 265% in the last 10 years. A decade of rising fuel prices often made life more difficult for many U.S. consumers and businesses, and occasionally put unwelcomed strain on the nation’s economy.1 High prices and profits, however, helped make it feasible for energy […]

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Small Firms Still Face Credit Challenges

Many small firms have found it more difficult to borrow money since the financial crisis hit, and business access to credit has yet to improve despite an economic recovery. A larger percentage of small-business owners who applied for financing were unsuccessful in 2011 (44%) than in 2010 (34%), primarily because there was more demand for […]

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Take Advantage of Medicare Open Enrollment

Nearly 50 million Americans are covered by Medicare, including most people 65 and older and many disabled people under age 65.1 Medicare benefits can be valuable — the average benefit per enrollee was $12,042 for Parts A, B, and D in 2011.2 Because there are a variety of coverage options, you may have to do some […]

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Introducing UITs

  You may be familiar with the most common types of investment companies — mutual funds and exchange-traded funds — but how much do you know about a third type: unit investment trusts (UITs)? A UIT purchases a portfolio of stocks or bonds. The portfolio is divided into shares called “units” and sold to individual […]

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Graduating with Debt

According to some measures, total student debt in the United States surpassed $1 trillion last spring and is now more than Americans owe on credit cards or auto loans.1 In 2010, about 56% of students who received a bachelor’s degree from a public college or university had an average debt of $22,000. Not surprisingly, debt […]

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More Affordable Than You Might Think

In a 2012 study, more than 80% of respondents cited financial reasons for not having enough life insurance coverage to meet their needs, yet they overestimated the cost of life insurance by almost three times the actual price.1 Considering these perceptions, it may not be surprising that life insurance ownership is at an all-time low, with […]

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Hot and Dry: The Potential Impact of the 2012 Drought

July 2012 was the warmest month in the contiguous United States since national weather statistics were first kept in 1895. The seven-month and 12-month periods ending in July also set heat records, and precipitation has been lower than normal, especially in the central part of the country. By the end of July, these hot and […]

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Business Builder or Time Waster?

In a recent survey, 94% of marketers reported that they are using social media to market their businesses, and many small-business owners were willing to tout its potential benefits. About half (51%) of small businesses (2 to 100 employees) reported that social media helped to improve sales.1 Although established networks such as Facebook, Twitter, and […]

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Looking Beyond Your Credit Score

There’s an old saying that some things get better with age, and apparently one of those things is the ability to manage personal credit. A consumer reporting agency study indicated that people aged 66 and older had the highest average credit scores, followed by those aged 47 to 65.1 Your credit score can affect your […]

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The Attraction of Bonds

  Bonds are usually less volatile than stocks and are often used as a way to help diversify a portfolio and potentially mitigate risk. Bonds also tend to offer lower total returns than stocks over the long term, although corporate bonds outpaced stocks by an average of 4% per year during the 10-year period from […]

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The Dow Then and Now

  If you’re like most investors, you probably pay at least some attention to the Dow Jones Industrial Average (DJIA). For more than a century, the Dow has been a symbol of the U.S. stock market. It’s so ingrained in American financial thinking that you may not have stopped to consider what it represents and […]

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End-of-Year Tax Tips

  The end of the year is fast approaching, so now may be a good time to start thinking about steps that could help reduce your 2012 income tax liability. Of course, before you take any specific action, be sure to consult with your tax professional. Consider income timing. Some tax experts recommend deferring income to […]

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Nearing the Fiscal Cliff: How Election-Year Inaction Could Affect the U.S. Economy

In February, Federal Reserve Board Chairman Ben Bernanke coined the phrase “fiscal cliff” to warn Congress about the potentially harmful combination of nearly $600 billion in federal tax increases and spending cuts that are scheduled to take effect on January 1, 2013, unless lawmakers address the deficit, taxes, and government spending. Economists and government officials […]

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Family Limited Partnerships

The IRS calculates the estate tax due on your gross taxable estate by adding the value of your assets, including your home and/or business, and subtracting any applicable exemptions. Through 2012, the top federal estate tax rate is 35% with a $5.12 million exemption amount. However, in 2013, the top estate tax rate is scheduled […]

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Potential Changes to the Gift Tax

A number of tax provisions are scheduled to expire at the end of 2012, including the highly favorable treatment of federal estate and gift taxes. If you are considering a gift that could be subject to the gift tax, this may be a good time to examine your options. Limits and Exclusions In 2012, you […]

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Growing Interest in ETFs

The first exchange-traded fund (ETF) in the United States debuted in 1993 as an alternative to mutual funds. Interest in ETFs grew slowly at first but increased substantially over the last decade. By May 2012, there were more than 1,200 ETFs available with total assets exceeding $1.1 trillion.1 Even so, ETFs remain somewhat mysterious to […]

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An Introduction to Trusts

Many people think trusts are only for the rich, but that’s not necessarily the case. Most estates must go through the probate process, which can be costly and time-consuming. And with tax changes scheduled to take effect in 2013, even modest estates could be subject to federal estate taxes. Certain types of properly executed trusts […]

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Big, Medium, and Small: Spreading the Risk

During the five-year period from 2007 to 2011, the total return of the S&P 500 index (representing large-cap stocks) was a disappointing –1.24%, which may not be surprising considering the impact of the Great Recession. On the other hand, the performance of small- and mid-sized company stocks during this period might surprise you: Total returns […]

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QE3: Is the Third Time the Charm?

On September 13, the Federal Reserve announced a third round of quantitative easing — dubbed QE3 — aimed at stimulating the still-struggling U.S. economy. In this initiative, the Fed plans to purchase $40 billion in mortgage-backed securities each month until the employment situation shows satisfactory improvement. The central bank also extended “Operation Twist” — an […]

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