{"id":501,"date":"2021-01-25T00:00:00","date_gmt":"2021-01-25T00:00:00","guid":{"rendered":"https:\/\/www.retirementrefined.com\/index.php\/2021\/01\/25\/president-biden-not-wasting-time\/"},"modified":"2021-01-25T00:00:00","modified_gmt":"2021-01-25T00:00:00","slug":"president-biden-not-wasting-time","status":"publish","type":"post","link":"https:\/\/www.retirementrefined.com\/president-biden-not-wasting-time","title":{"rendered":"President Biden Not Wasting Time!"},"content":{"rendered":"

President Biden is certainly a not wasting any time<\/strong> moving forward his agenda.\u00a0 From stimulus checks, a higher minimum wage, money for states, higher income taxes, social security taxes and higher corporate taxes.\u00a0\u00a0 All are starting to line the table for consideration and will assist us in tax and income planning for our clients.<\/strong><\/p>\n

I\u2019ve certainly learned that you don\u2019t make plans on initial proposals and you never make plans that are permanent, because a permanent law is truly not so.<\/p>\n

Higher potential costs for businesses and upper-income taxpayers will not derail the current economic recovery and markets at this time, in my opinion, as it’s so hard to bet against the Federal Reserve and an unlimited congressional checkbook.\u00a0 For now, buckle up and enjoy the ride.\u00a0 It may be a little bumpy.<\/p>\n

Markets Higher for the Week<\/strong><\/p>\n

For the week, all equity markets rose as the Dow rose .63%, the S&P 500 1.96%, the Nasdaq Composite 4.19% and the Russell 2000 2.15%.<\/p>\n

The best performing US Stock sector year to date is energy, rising 11%, with Consumer Stables the laggard, down (3.7%).<\/p>\n

Over the pond international developed stocks rose .70% and Emerging markets rose 2.57%.<\/p>\n

Bond yields<\/strong> remained mostly\"\" flat for the week, however the Barclays Aggregate Bond Index is down (.75%) year to date.\u00a0 This is one data point to keep your eye on as we go forward!!!<\/p>\n

Vaccine Distribution<\/strong>\u00a0<\/strong><\/p>\n

It\u2019s so nice to hear that several of our clients have received their initial Covid-19 vaccine, or are scheduled to do so.\u00a0 Those over 65 should certainly already have signed up, or should do so immediately.<\/p>\n

I am a little concerned about equitable distribution, especially for those under age 65.\u00a0 I already know of a handful of people who are under 65, have no health problems, and who are registered to receive the vaccine.\u00a0\u00a0 In those cases, it’s because \u201cthey know somebody\u201d.\u00a0 That seems very unfair, especially as it will probably be required to show proof of the vaccine for recreational activities and travel.\u00a0 I just hope that our government understands, this needs to be equitable. \"\"<\/p>\n

How will you feel if a peer can jump on an airplane and go to the Caribbean, while you have to wait?<\/p>\n

Corporate Earnings Week<\/strong><\/p>\n

This week marks the week where a significant number of major companies report 4th<\/sup> Quarter 2020 earnings\/profits.\u00a0 Whether companies beat or miss, probably won\u2019t matter too much as all are receiving a \u201cpass\u201d until we get \u201cback to normal.”<\/p>\n

I personally cannot wait until the markets are again gauged on non-pandemic issues.\u00a0 When will that happen?\u00a0 As always, time will tell!!!<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

President Biden is certainly a not wasting any time moving forward his agenda.\u00a0 From stimulus checks, a higher minimum wage, money for states, higher income taxes, social security taxes and higher corporate taxes.\u00a0\u00a0 All are starting to line the table for consideration and will assist us in tax and income planning for our clients. I\u2019ve […]<\/p>\n","protected":false},"author":3,"featured_media":503,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"post_statement":"","post_description":"","post_cta":"","post_button":"Read More","post_button_url":"","compliance_id":"","post_disclaimer":"","footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/posts\/501"}],"collection":[{"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/comments?post=501"}],"version-history":[{"count":0,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/posts\/501\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/media\/503"}],"wp:attachment":[{"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/media?parent=501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/categories?post=501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/tags?post=501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}