The global economic forecast is looking stronger for 2016, after years of intermittent recessions in major economies. What will that translate into in earnings growth? Jeffrey Kleintop, Chief Global Investment Strategist at Schwab, offers his analysis. A less welcome development will arise next year for some 30% of Medicare beneficiaries, whose premiums may increase 52% or more. USA Today summarizes the details of the changes. If you’ve looked into getting financial advice from a professional, you’ve probably heard of a “fee-only” advisor. But what’s the difference between a “fee-based” and “fee-only” advisor? Only one of the two has a fiduciary responsibility to put your interests first. David John Marotta explains the significance for Forbes.
Global Economy To Be Stronger In 2016– The world economy will see the pace of growth improve somewhat in 2016, after four years of intermittent recessions among major economies from 2011-2014, says Jeffrey Kleintop, Chief Global Investment Strategist at Schwab. While slightly below the pace of the mid-2000s, global growth of 3.5% would mark a return to the average pace of growth over the past 50 years. Faster global economic growth should translate into better sales for companies and drive faster earnings growth than in 2015, potentially supporting the stock markets around the world. Read more…
Medicare Part B Premiums To Rise 52% For 7 Million Enrollees– For seven in 10 Medicare beneficiaries 2016 will be much like 2015. They will pay $104.90 per month for their Medicare Part B premium just as they did in 2015. But 2016 might not be anything like 2015 for some 30% of Medicare beneficiaries — roughly 7 million or so Americans. That’s because premiums for individuals could increase 52% to $159.30 per month ($318.60 for married couples). For individuals whose incomes exceed certain thresholds, premiums could rise to anywhere from $223.00 per month up to $509.80 (or $446 to $1,019.60 for married couples), depending on their incomes. Robert Powell explains in this article from USA Today. Read more…
Fee-Only Financial Planner: What’s The Difference?- Fee-only financial planners are registered investment advisors with a fiduciary responsibility to act in their clients’ best interests. They do not accept any fees or compensation based on product sales. Fee-only advisors have fewer inherent conflicts of interest, and they generally provide more comprehensive advice. The National Association of Personal Financial Advisors (NAPFA) is the leading professional association of fee-only financial advisors. NAPFA is distinguished both by the competence of its advisors and their method of compensation. Commission-based agents and brokers often take offense at this distinction. Blurring the difference, they created the category dubbed “fee based,” which means they charge a fee in addition to collecting commissions. David John Marotta explains why this matters for Forbes. Read more…
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John R. Day, Bill Ennis, Stephanie Davidson and Matt Heller