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| Report Serves As Primer on HSAs | |
| For those who need more knowledge about health savings account (HSA) rules and benefits, a Congressional Research Service report can help.Read more > | |
| Economic Events | |
| THE ECONOMIC WEEK AHEAD: Today, the Census Bureau will report about construction spending for July. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about factory orders for July. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for August. | |
| Sponsored message from J.P. Morgan | |
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| Market Mirror | |
Friday, the Dow was down 22.10 points (0.09%) at 25,964.82, the NASDAQ increased 21.17 points (0.26%) to 8,109.54, and the S&P 500 was virtually unchanged at 2,901.52. The Russell 2000 closed 8.40 points (0.48%) higher at 1,740.75, and the Wilshire 5000 was up 17.48 points (0.06%) at 30,274.53.
The price of the 10-year Treasury note was down 1/32, increasing its yield to 2.860%. The price of the 30-year Treasury bond decreased 11/32, bringing its yield up to 3.022%. WEEK’S WORTH: For the week ending August 31, the Dow was up 0.68%, the NASDAQ climbed 2.06%, and the S&P 500 gained 0.93%. The Russell 2000 finished 0.87% higher and the Wilshire 5000 increased 0.87%. | |
| Compliance | |
| President Trump Orders Review of Open MEPs, RMD Rules | |
| President Donald Trump on Friday afternoon signed a series of executive orders aimed at “boosting retirement security” for everyday Americans. The orders call on the Treasury Department to review and potentially update its rules establishing that individuals must begin making withdrawals from retirement accounts starting no later than six months after their 70th birthday. Additionally, President Trump also called on the Department of Labor (DOL) to consider the pros and cons of allowing small businesses to jointly offer retirement plans (open multiple employer plans, or MEPs).Read more > | |
| Small Talk | |
| ON THIS DATE: In 1609, English navigator Henry Hudson began exploring the island of Manhattan. In 1781, Los Angeles was founded by Spanish settlers. In 1833, Barney Flaherty answered an ad in “The New York Sun” and became the first newsboy/paperboy at the age of 10. In 1882, Thomas Edison’s Pearl Street electric power station began operations in New York City. It was the first display of a practical electrical lighting system. In 1885, the Exchange Buffet opened in New York City. It was the first self-service cafeteria in the U.S. In 1886, Geronimo, and the Apache Indians he led, surrendered in Skeleton Canyon in Arizona to Gen. Nelson Miles. In 1888, George Eastman registered the name “Kodak” and patented his roll-film camera. The camera took 100 exposures per roll. In 1949, the longest pro tennis match in history was played when Pancho Gonzales and Ted Schroeder played 67 games in five sets. In 1953, the New York Yankees became the first baseball team to win five consecutive American League championships. In 1957, the Arkansas National Guard was ordered by Governor Orval Faubus to keep nine black students from going into Little Rock’s Central High School. In 1957, the Ford Motor Company began selling the Edsel. The car was so unpopular that it was taken off the market after only two years. In 1967, “Gilligan’s Island” aired for the last time on CBS-TV. It ran for 98 shows. In 1971, “The Lawrence Welk Show” was seen for the last time on ABC-TV. In 1972, swimmer Mark Spitz captured his seventh Olympic gold medal in the 400-meter medley relay event at Munich, Germany. Spitz was the first Olympian to win seven gold medals. In 1998, Google was incorporated as a privately held company. In 2003, Keegan Reilly, 22, became the first paraplegic climber to reach the peak of Japan’s Mount Fuji. | |
| SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Do you think people should focus on paying down debt before focusing on saving for retirement?” I also asked, “For you, personally, what is your first priority?” Nearly three-fourths (74.4%) of respondents said people should focus on paying down debt and saving for retirement at the same time. As for their own experience, six in ten responding readers (60.3%) are focusing on paying down debt and saving for retirement at the same time. Nearly one-quarter (24.4%) reported that saving for retirement is their first priority, while 15.4% indicated paying down debt is their first priority. Comments left by respondents about prioritizing debt over retirement savings or vice versa were a mixed bag. However, most were in favor of addressing debt and retirement savings at the same time. Many advised that everyone should first take advantage of the employer match, if there is one, in their retirement plans. Some explained that the decision is not so simple and requires analysis. Editor’s Choice goes to the reader who said: “You should pay toward whatever has the best return on your money. Investing at 3% does not beat paying toward an 8% loan. #math” A big thank you to everyone who participated in the survey!Read more > | |
| Share the news with a friend! Pass the NewsDash along and tell your friends/associates they can sign up for their own copy.Read more > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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