The document summarizes market performance in the second quarter of 2011, noting declines across most major indices except the Dow Jones Industrial Average. It also discusses economic news including the debt ceiling debate in the US and ongoing issues in Europe over Greece's debt. The article then provides an overview of retirement planning strategies, highlighting the potential benefits of a Cash Balance Plan for business owners.
Welcome to Chartwell\'s spring edition of our newsletter, Financial Synergy covering many areas from the Chancellor\'s Autumn Statement to changes in pensions legislation
1st Quarter 2011 Market Commentary from the National Investment Fund for Cred...NAFCU Services Corporation
Recent Federal Reserve Board member comments, plus improving economic readings, may mean this period of ultra-low interest rates is nearing an end. Higher oil prices have put a damper on consumer sentiment and should affect spending in the second quarter of 2011. Read more from NIFCU$ Fund Manager, Hillary Elder in this downloadable report. Learn more about the National Investment Fund for Credit Unions (NIFCU$) at http://www.nafcu.org/nifcus
The non-partisan Committee for a Responsible Federal Budget (CRFB) has compiled a brief background on the scope of our nation's fiscal challenges and the drivers of our debt and deficits, while outlining some of the types of solutions available to address the problems. This Powerpoint is meant to offer an objective, easily-accessible view of our country's fiscal situation as an educational tool meant to help foster open and honest discussion about these issues.
Welcome to Chartwell\'s spring edition of our newsletter, Financial Synergy covering many areas from the Chancellor\'s Autumn Statement to changes in pensions legislation
1st Quarter 2011 Market Commentary from the National Investment Fund for Cred...NAFCU Services Corporation
Recent Federal Reserve Board member comments, plus improving economic readings, may mean this period of ultra-low interest rates is nearing an end. Higher oil prices have put a damper on consumer sentiment and should affect spending in the second quarter of 2011. Read more from NIFCU$ Fund Manager, Hillary Elder in this downloadable report. Learn more about the National Investment Fund for Credit Unions (NIFCU$) at http://www.nafcu.org/nifcus
The non-partisan Committee for a Responsible Federal Budget (CRFB) has compiled a brief background on the scope of our nation's fiscal challenges and the drivers of our debt and deficits, while outlining some of the types of solutions available to address the problems. This Powerpoint is meant to offer an objective, easily-accessible view of our country's fiscal situation as an educational tool meant to help foster open and honest discussion about these issues.
The presentation makes a compelling argument for the Joint Select Committee on Deficit Reduction ("Super Committee") to "Go Big" rather than going small.
For more info, visit http://crfb.org/go-big.
The presentation makes a compelling argument for the Joint Select Committee on Deficit Reduction ("Super Committee") to "Go Big" rather than going small.
For more info, visit http://crfb.org/go-big.
Economies worldwide have rebounded since the 2008
Financial Crisis, along with rising global equity and
tightening credit markets. Even the rebound in earnings
growth and profit margins has been remarkable. Yet, the
U.S. economic growth hasn’t broken out as hoped, after
significant global fiscal and monetary stimulus, including
slashing interest rates. Unemployment remains high and
volatility has been unnerving for investors. Learn more at: www.nafcu.org/nifcus
The Silicon Valley Fund returned 1.74% for the month of October, outperforming our benchmark, the Spartan Bay Area Index, as well as the Russell 2000 and the S&P 600 small-cap index.
Indian Economy: The Curious Case of Household Savings-Investment GapAshutosh Bhargava
The debate between former Federal Reserve Chairman Ben Bernanke and former US Treasury Secretary Lawrence Summers has rekindled interest on the topic of "Global Savings Glut". This article gives some interesting insights about the evolution of household savings in India and the way forward.
The Curious Case of Savings-Investment Gap and its Implications for IndiaAshutosh Bhargava
Their has been a remarkable shift in the savings-investment gap at the global level as well as in India. While this has had a tangible impact on global potential growth, the recovery is likely to differ from one country to another. In the Indian context, the recovery in trend growth is likely to be much higher than what is generally peceived and thus requires a more proactive response from policy makers, especially the monetary authorities.
Signature Bank Results Presentation Deck Apr 2022.pdfBryann Alexandros
Signature Bank was a bank that did business in New York City and other states. It had $110.4 billion in assets and $82.6 billion in deposits by the end of 2022. It used to have offices only in New York City. In the late 2010s, it started to grow and offer more services, but it was most known for its 2018 decision to work with the cryptocurrency industry. By 2021, cryptocurrency businesses had 30 percent of its deposits. Banking officials in New York shut down the bank on March 12, 2023, two days after Silicon Valley Bank (SVB) went broke. After SVB went broke and because Silvergate Bank, another cryptocurrency-friendly bank, went broke earlier in the week, scared customers took out more than $10 billion in deposits. It was the third-biggest bank failure in U.S. history. On March 19, a week after the bank shut down, the FDIC sold the new bank, most of its deposits, and its 40 offices to New York Community Bancorp to be part of its Flagstar Bank part. Some $4 billion in digital money banking deposits and $60 billion in loans were not part of the deal.
Positive signs of a continued recovery were prevalent in Q1 2021, with vaccinations gaining critical mass, GDP showing growth, and the country opening back up for business. Additionally, M&A continues to be a tidal wave of activity, preparing to make landfall in Q4 2021.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
1. Q uarterl y B E A C O N H I L L I N V E S T M E N T A D V I S O RY
Summer 2011
A Review of the Markets This Just In —
After strong first-quarter gains in line, though it was negative for the Ohio Estate Tax Update
the stock markets, it was mostly quarter. The Russell 2000 suffered
downhill from there. Following the most as investors preferred the Governor Kasich signed into law
April’s year-to-date highs, when reassurance of defensive sectors the State budget which repealed the
the Russell 2000 hit its highest and large caps, while the NASDAQ Ohio estate tax beginning January
level on record, week after week escaped with barely a scratch. 1, 2013. Though you will no longer
of declines battered all four U.S. Meanwhile, saddled with Greece’s be required to pay Ohio estate
indices. However, a rally in June’s woes, the Global Dow continued taxes after 2012, it is necessary to
final week left the Dow industrials to stagger. continue reviewing and monitoring
the only one of the four major your estate plan. Taxes are only
indices with a gain for the quarter, Greece’s debt problems caused one aspect of comprehensive estate
taking the lead from the small caps investors to decide that despite planning to ensure your goals and
for 2011’s first half. the United States’ budgetary woes, objectives are satisfied.
Treasuries didn’t look so bad after
After breaking below 1,300, the all. As demand pushed prices up,
S&P 500 barely managed to claw yields on the 10-year fell below 3%
its way back to that level just before rebounding a bit.
before crossing the quarter’s finish
Market/Index 2010 Close As of 3/31 End of Quarter Quarterly Change YTD Change
DJIA 11577.51 12319.73 12414.34 .77% 7.23%
NASDAQ 2652.87 2781.07 2773.52 -.27% 4.55%
S&P 500 1257.64 1325.83 1320.64 -.39% 5.01%
Russell 2000 783.65 843.55 827.43 -1.91% 5.59%
Global Dow 2087.44 2186.41 2134.29 -2.38% 2.24%
Fed. Funds .25% .25% .25% 0 bps 0 bps
10-year Treasuries 3.30% 3.47% 3.18% -29 bps -12 bps
84 South Fourth Street, Columbus, OH 43215 • (614) 469-4685 • info@BHadvisory.com • www.beaconhilladvisory.com
2. Quarterly Economic Perspective
• The financial markets heaved of Labor Statistics said volatile • The Federal Reserve’s bond-
a sigh of relief as the Greek food and energy costs were buying program, nicknamed
parliament agreed to implement responsible for more than half of QE2, came to an end on schedule.
a €28 billion, five-year program that. However, oil prices fell back Fed Chairman Ben Bernanke said
of spending cuts, tax increases, to roughly $90 a barrel, helped by the Fed will continue to reinvest
and asset sales. European the release of some of the world’s the proceeds of existing holdings,
leaders said the measures were a strategic reserves in the wake of and that those efforts will end
condition for receipt of the next ongoing conflict in oil-rich Libya. before the Fed raises interest rates.
slice of existing aid before key It also forecast slower economic
bond payments in July. Despite • The nation maxed out its credit growth (2.7%-2.9%) for the rest
differences over whether and how card as it went over the current of the year, but said some of the
to let bondholders such as banks $14.3 trillion debt ceiling in causes of the sluggishness should
suffer losses on Greek debt, the May. Treasury officials warned be temporary.
country’s European colleagues that accounting measures could
said Greece would likely receive a postpone the day of reckoning • Unemployment rose slightly to
new aid package. until August 2, but that after just over 9% during the quarter,
that date the Treasury will face consumers were slower to spend,
• U.S. economic growth continued, the question of which bills go housing continued to struggle,
but at a much slower pace. The unpaid. As the clock kept ticking, and retail sales were hurt by
Bureau of Economic Analysis congressional leaders argued supply-chain problems in the auto
said gross domestic product over whether spending cuts, tax industry caused by the spring’s
(GDP) rose by 1.9% compared to increases, or some combination of Japanese disasters.
the previous quarter’s 3.1%. the two would be required before
raising the limit on how much
• Consumer inflation over the last the Treasury can borrow to pay
year hit 3.6%, though the Bureau existing obligations.
Source: Forefield Inc.
401(k) Corner - Contribute $260,000 every year!
Ok, so it’s not technically a 401(k) Enter the Cash Balance Plan taxes on just his portion alone, he
that you can defer income into, Upon further review of his would have had a tax expenditure
but many are surprised by just company’s employees, an often of approximately $60k!
how much can be deferred into overlooked plan made perfect sense
retirement plans by using advanced for him. The design allowed him to What is a Cash Balance Plan?
planning. defer an additional $150k per year A cash balance plan is technically
“I know I need to create retirement and also grant an additional $35K a defined benefit plan; however,
savings, but I’m starting late and to a highly valued employee, which it looks and feels like a defined
contributing only $22,000 per year he used instead of a raise. In total, contribution plan.
into my 401(k)... that isn’t going he had to give an additional $20K
to cut it.” Mr. Johnson complained to other employees. All in all, Mr.
to us. Even the Profit Sharing Johnson and his valued employee
component, which increased savings received 90% of the benefits of
to $54,000, wasn’t adequate. the plan. If Mr. Johnson had paid
Summer 2011
3. “I know I need to create my retirement savings, Can I exclude
certain employees?
but I’m starting late and contributing only $22,000 per Yes. There is a lot of flexibility in the
initial plan design.
year into my 401(k)... that isn’t going to cut it.”
Why haven’t I
heard of this before?
Who is a candidate How are the While all advisors do “retirement
for Cash Balance? investments handled? planning” many do not focus on
Generally, cash balance plans will While details are beyond the scope the intricacies involved with ERISA
be good for companies with stable of this article, the investments should and non-ERISA based plans. In
profits. It works best if the people be designated as the client’s “safe addition, an actuary experienced
you are trying benefit are highly money” and invested conservatively. in cash balance plans is required
compensated and older than the in the initial analysis and ongoing
general employee population. It How long do maintenance.
can work very well for closely held I need to keep the plan?
businesses, law firms, medical While most corporate retirement How do I see
practices, etc. The benefits of a cash plans are technically intended to be if this is right for me?
balance plan are the ability to defer permanent, most experts recommend We conduct an initial interview to
significant sums and the ability to that you should maintain the plan for determine if this type of plan is right
recruit and retain highly qualified at least three years. for you or if a different plan benefits
candidates with specialized skills. you more. We then collect an
employee census (includes employee
How much could I potentially payroll information and birth
defer into a Cash Balance Plan? dates) and work up an analysis for a
While it depends on the demographics potential plan, including how much
of your company, the maximum you could save in taxes and how
contributions are in the chart below. much would be given to employees.
Age 401(k) Profit Sharing Cash Balance Total Tax Savings
60-65 $22,000 $54,500 $209,000 $263,500 $105,400
55-59 $22,000 $54,500 $164,000 $218,500 $87,400
50-54 $22,000 $54,500 $125,000 $179,500 $71,800
40-44 $16,500 $49,000 $96,000 $145,000 $58,000
(Daniel Kravits, 2010, p. 8)
Assuming a 40% combined federal, state, and local tax. Savings shown are deferred taxes. Taxes are required to be paid upon withdrawal from the plan.
w w w. b e a c o n h i l l a d v i s o r y. c o m
4. Business Wealth Management Process TM
This Quarter: Protection
Protection This quarter’s topic, Protection, uncovers gaps within our clients’
insurance needs. Going beyond a simple life insurance snapshot,
Life Insurance we analyze scenarios in which disability could occur or potential
longterm care needs arise. As you can imagine, it’s burdensome for
Disability the family, not to mention potentially devastating to the business if
these issues are not addressed. If additional needs are required, we
Umbrella/Liability take it to competitive bid from multiple providers.
Long-term Care Next Quarter: Tax Efficiency
84 South Fourth Street
Columbus, OH 43215
Mark Fissel, RFC Clint Edgington, CFA
w w w. b e a c o n h i l l a d v i s o r y. c o m