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Weekly Market Summary

 

While many agree that Treasury yields present a decent opportunity at current levels, there’s no lack of volatility in the market. After bouncing as high as 2.64 percent last Monday, yields on the 10-year Treasury fell as low as 2.45 percent late in the week. The 10-year begins what could be a slower holiday week slightly above 2.50 percent.

Read our Weekly Market Summary.

NEW: Brad McMillan, vice president, chief investment officer of the Commonwealth Financial Network, talks with Maria Considine King, vice president of practice management, about the Fed’s announcement of a reduction in stimulus. Brad also offers updates on China and Europe, as well as his thoughts on what to look for in the financial markets going forward. Click for the video.

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Recognition from Safeco for Excellent Performance

Safeco President's Award, June 2013
 Stephanie Davis of Safeco Insurance and Tom Nanof of Peerless Insurance, visited Allen Insurance and Financial’s Camden office recently to congratulate the company on being named a President’s Award winner and  member of the Safeco Premier Partner program. With them, at left, is Allen Insurance and Financial Executive Vice President Michael Dufour. 

Allen Insurance and Financial has earned two top honors from Safeco Insurance® — the distinguished President’s Award and membership in the Premier Partner program.
Approximately 200 agencies that sell Safeco Insurance in the United States earn the President’s Award each year, which celebrates their success with Safeco. The Premier Partner distinction recognizes excellent performance as well, providing agencies with access to special programs designed to help grow their business while maintaining high standards of service for customers.
“President’s Award and Premier Partner agencies are among the best independent insurance agencies that sell Safeco,” said Matt Nickerson, president of Safeco Insurance. “These awards celebrate the hard work, dedication and success of Allen Insurance and Financial as a loyal Safeco partner who works with us to be there when customers need us most.”

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Weekly Market Summary

The yield on the 10-year Treasury was as high as 2.63 percent early Monday morning. This move seems to be in reaction to last Wednesday’s Federal Open Market Committee (FOMC) meeting, during which Chairman Bernanke gave us more clarity on the Fed’s exit plan. Read more now in our Weekly Market Summary.

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5 Steps to Maximizing Your IRA

When it comes to planning for retirement, the more you save today, the better prepared you’ll be tomorrow. That’s why we are sharing five easy steps to take right now that could make all the difference in reaching your goals.

  1. Maximize your annual IRA contributions. For 2013, the maximum amount you can contribute to a Traditional IRA or a Roth IRA is $5,500. Individuals ages 50 and older can make an additional catch-up contribution of $1,000—for a total contribution of $6,500.
  2. Invest on a regular basis. Making regular monthly contributions to a brokerage account or a 401(k) can add up over time. A $250 monthly contribution could potentially grow to $127,6011 after 20 years, assuming an average annual rate of return of 7 percent.
  3. Set up automatic investments. Establishing a periodic investment plan1 is easy to do and helps put your retirement savings on autopilot. Set up direct deposit to put a portion of your paycheck into your IRA.
  4. Consolidate IRAs. If you have multiple IRAs at several financial institutions, consider transferring them into a single account. You’ll have a more complete look at your financial picture, and it will be easier to manage those assets. You’ll also reduce the number of statements and tax forms you receive, and potentially reduce fees.
  5. Roll over 401(k) accounts from former employers. If you’ve changed jobs or plan to retire, why leave your 401(k) plan behind? Although there may be good reasons for keeping an old 401(k) plan intact, moving it to a Rollover IRA has its advantages. For one, you’ll have better control over the management of those assets and more flexibility to access those dollars.

1 Periodic investment plans and dollar cost averaging do not assure a profit or protect against losses in declining markets. Such plans involve continuous investment regardless of market conditions. Markets will fluctuate, and clients must consider their ability to continue investing during periods of low price levels. The above hypothetical example illustrates the potential value of regular monthly investments and assumes an average annual rate of return of 7 percent. The end value doesn’t reflect taxes or fees. Earnings and pretax contributions from Traditional IRAs are subject to taxes when withdrawn. IRA distributions taken before age 59½ may also be subject to a 10-percent penalty. Earnings distributed from Roth IRAs are free from income tax, provided certain requirements are met.

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Weekly Market Summary

Little movement is expected in the Treasury market to start off the week, as investors wait for notes from the Federal Open Market Committee (FOMC) meeting this Tuesday and Wednesday. The 10-year Treasury stood at 2.12 percent early Monday morning.

Given volatility in the markets and a slowing economy, many expect Federal Reserve Chairman Ben Bernanke to confirm a continued commitment to quantitative easing. Read more now .

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Get Ready for Changes in How You Purchase Health Insurance

Read our Navigator newsletter.

The Affordable Care Act, having been ruled constitutional by the Supreme Court, is picking up speed and momentum like a huge boulder rolling down a mountain. The ACA will land on your doorstep Jan. 1, 2014, accompanied by thousands of pages of regulations from a variety of federal agencies, including Health and Human Services, IRS, Department of Labor, Center for Medicare Services, and even Homeland Security.

Although we are still waiting for pricing and plan designs to be revealed, this edition of our Navigator newsletter will help you start thinking about your options.

For almost 150 years, Allen Insurance and Financial has been helping our clients with insurance and financial issues, and we’re committed to helping you navigate the complexities of this massive new law.

In this newsletter, Dan Wyman and Sherree Craig discuss how the ACA will impact individuals, small groups, and larger organizations. Dan is Allen’s group benefits department manager, as well as a broker, consultant and attorney focusing on group benefits. Sherree is Allen’s large group health insurance guru and account manager.

Read our Navigator newsletter.

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