Daily Financial Intel | Financial Planning

Up-To-Date Market Week

Aug 2, 2021 10:40:43 AM
written by The Retirement Group

The Markets (as of market close July 30, 2021)

Equities retreated last week despite strong corporate earnings data. European and Asian stocks slid following China's regulatory crackdown aimed at large tech companies. Although corporate earnings generally have been solid, last Friday's lower-than-expected earnings results from some heavily weighted megacaps may have caused some uncertainty about the pace of economic growth. By the close of last week, tech shares fell, pulling the Nasdaq down 1.1%, with the large caps of the Dow and the S&P 500 each declining 0.4%. The small caps of the Russell 2000 climbed 0.8%, while the Global Dow rose 0.4%. Crude oil prices climbed 2.4% to $73.81 per barrel. Gold prices rose nearly 1.0%, while the dollar dipped 0.8%. The yield on 10-year Treasuries decreased 5 basis points. Materials (2.8%) and energy (1.6%) led the market sectors.

posted in Financial Planning, Lump Sum, Pension

Mid-Year Is a Good Time for a Financial Checkup

Jul 29, 2021 1:59:31 PM
written by The Retirement Group

The first half of 2021 is behind us. As life emerges from the pandemic to a "new normal," a mid-year financial checkup may be more important than ever this year. Here are some ways to make sure that your financial situation is continuing on the right path.

Reassess your financial goals

At the beginning of the year, you may have set financial goals geared toward improving your financial situation. Perhaps you wanted to save more, spend less, or reduce your debt. How much progress have you made? If your income, expenses, and life circumstances have changed, you may need to rethink your priorities. Review your financial statements and account balances to determine whether you need to make any changes to keep your financial plan on track.

posted in Financial Planning, Retirement, Mid-Year

ExxonMobil Interest Rates Continue to Rise through the Fourth Quarter

Jul 20, 2021 8:00:00 AM
written by The Retirement Group

Interest rates increased, which will minimally reduce the value of ExxonMobil employees' pension lump-sums. Over the course of 2020, interest rates at ExxonMobil dropped dramatically, which greatly increased many lump sum payments. This culminated in record low rates for individuals that commence their benefits in the first quarter of 2021. However, we saw an increase in rates for the second & third quarters of 2021 and now fourth quarter rates have risen slightly higher. Rates rose roughly 0.04% in the most significant segment, in the last quarter.

posted in Financial Planning, Lump Sum, Pension, Retirement Planning

Will Q4 ExxonMobil Interest Rates Continue to Rise?

Jun 21, 2021 1:30:00 PM
written by The Retirement Group

Interest rates are increasing which will reduce the value of ExxonMobil employees' lump-sums. Over the last year, interest rates at ExxonMobil have dropped dramatically, which has greatly increased many lump sum payments. This culminated in record low rates for individuals that commence their benefits in the first quarter of 2021. However, we saw an increase in rates for the second quarter of 2021 and now third quarter rates have risen even higher. Rates have risen roughly 0.5% in the most significant segment, just in the last quarter. If this trend continues, we could see a significant reduction in ExxonMobil lump-sum values. ExxonMobil's 4th quarter rates will be released next month, but early signs show they appear to be trending upward.

posted in Financial Planning, Lump Sum, Pension, Retirement Planning