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Expert Financial Guidance and Support Weekly Economic Update: July 10, 2023 Rising concerns about further rate hikes sent stocks lower to kick off the second half of trading. The Dow Jones Industrial Average lost 1.96%, while the Standard & Poor’s 500 retreated 1.16%. The Nasdaq Composite index surrendered 0.92% for the week. The MSCI EAFE index, which tracks developed overseas
stock markets, tumbled 2.57%.1,2,3 Stocks Slide Stocks were dragged lower last week by news reigniting fears of additional interest rate increases. It stared with the minutes from June’s Federal Open Market Committee meeting, which revealed a majority of voting members supported at least two more rate hikes. But a strong employment
report from Automated Data Processing (ADP), a payroll processor, unnerved investors, sending stocks lower and bond yields higher. Markets stabilized after Friday morning’s federal government’s monthly employment release showed a less-than-expected increase in nonfarm payrolls. But stock prices turned down in the afternoon, adding to the week’s losses. Read More IRS Program Helps Seniors Prepare Taxes The Internal Revenue Service (IRS) has a tool called Free File, which offers online tax preparation, direct deposit of refunds, and electronic filing choices. This tool can be helpful for taxpayers on a fixed budget, including
seniors and retirees. Here are some things to know about the tool: - IRS Free File can be found at IRS.gov and features some big names in the tax software provider world.
- To use the tool, taxpayers can browse multiple offers.
- The eligibility standards for using Free File depend on the tax partner, but they are usually based on income, age, and state residency.
- Free File has a majority of the most common forms needed when filing your taxes. Even if you have a unique tax situation, you may still be able to use Free File.
- Some Free File products are available in Spanish.
- You can also search for credits and deductions in Free File.
- Some providers in Free File also offer state return preparation. You can use the lookup tool
in Free File to find the tax partner that might be appropriate for your state requirements.
- Taxpayers can access Free File through their computers, smartphones, or tablets. The site is designed for mobile usage.
*This information is not intended to substitute for specific individualized tax advice. We suggest you discuss your specific tax issues with a qualified tax professional. Tip adapted from IRS.gov6 Financial Fingerprint: A lifelong trusted resource Your Financial Fingerprint™ is a personal plan that is quick to assemble, easy to understand, and simple to modify as circumstances change. At its core, your Financial Fingerprint™ analyzes interactions between the
three critical components of a successful retirement: income, spending, and savings — together, defining the rate of return your savings need to generate. As we implement your plan and manage your investments, we update and review
your Financial Fingerprint™ frequently. Through this ongoing process, you'll find that your Financial Fingerprint™ becomes a lifelong, trusted resource. Schedule an appointment now to get started on your Financial Fingerprint Visit our website for a listing of useful financial tools such as: - Social Security: register and get your estimated benefits
- Financial Calculators: Various calculators to help you make
decisions
- College in Colorado: planning for college
More Information Healthy Living Tip Aloe Vera: One Powerful Plant Aloe vera is one of those medicinal plants that can be used for almost everything. It is a cactus-type plant that grows well in many climates and has thick, juicy leaves that store water. Because
of this, aloe vera is loved for its hydrating properties. Let's look at some of the many benefits of aloe and how you can include it in your daily routine. The thick, sticky gel that is in aloe leaves has some powerful bioactive compounds, including vitamins, minerals, amino acids, and antioxidants. Aloe vera is also known for its healing properties. It may help heal wounds and treat skin
problems with its antibacterial, antiviral, and antiseptic properties. Also, it can be used as a topical treatment for first and second-degree burns. Lastly, aloe vera might also help lower blood sugar levels by enhancing insulin sensitivity and improving blood sugar management. There has been some preliminary evidence that aloe vera may have benefits for people with
prediabetes or type 2 diabetes. Parting Shot This is some motivation to make it up the Manitou
Incline! Photo by Linda Greenwell via Facebook Capstone built our reputation on friendly service, impeccable honesty, and respect for every client. Our clients’ needs drive our relationship, and the focus is always on
you. We strive to be highly responsive to your requests and are skilled at creating solutions customized to your goals, values, and situation. Reach out anytime with questions. We're happy to help! |
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