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If you are married and you inherit a retirement account from your spouse, you have more options on what to do with the IRA, 401(k), or Roth IRA than you might think. A spouse can transfer the funds from any of those accounts to a new IRA or you can establish a new IRA. Here’s what spousal beneficiaries need to know about inheriting retirement accounts.
The economic data in the US is still showing good numbers. The purchaser manufacturing index, which measures the economic health of manufacturing and service, came out this week with a pretty stellar 56. The estimates were 51.9. Anything over 50 is seen as an expansion for the economy. Plus, the unemployment numbers were very good this past Thursday, and we still see the yield curve, although it’s getting closer to the 10-2 inversion, is flattening out. The leading economic indicator composite also shows that we’re still in solid economic growth territory. Does that mean we’re in for another record year, or is volatility and a market correction on the horizon?
Two support levels came into focus this past week. Transports have flashed a bear signal, but the pullback in industrials that we saw has been too swift. We need to see a failed rally and new lows before a legitimate bear can be called in the name of Dow theory, which can take weeks, if not months, and does not mean we’re gonna see the market make new highs or fall deeper into correction territory. The age-old technical system, which has historically outperformed, is not decidedly bearish yet. So, how do we play this? What should we be looking at right now in our portfolios?
As promised markets hit correction territory this past week. Russia launched a full invasion of Ukraine. The Dow for the week was only off 0.1%, year to date down 6.3%. The S&P finished the week up 0.8%, year to date down 8%. But the critical issue is that the S&P dropped below the critical 10% number this week, which signaled a correction. We haven’t seen that since the COVID lockdowns. The NASDAQ finished the week up 1.1%; for the year, it’s down 12 and a half. The 10-year Treasury was trading at 1.97, and oil finished the week at 91.91—up 22% for the year. What’s happening in the markets to cause all this?
Welcome to Protect Your Assets Market Briefing with David Hollander, investment advisor, attorney, and the founder of Liberty Group. In this short briefing, you’ll get highlights and clips from his radio show and full weekly podcast, Protect Your Assets. We’ll cover topics like smart money moves, how policy affects your investments, generating income in retirement, handling inflation, volatility, and more. You can listen to this show on your favorite podcast app or get it hands-free in your Alexa Flash Briefing, just search for Protect Your Assets Market Briefing on Amazon or your Alexa enabled device. Visit libertygroupllc.com/voice for all the links and details. Thanks for tuning in. Together, let’s protect your assets.
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