Fairley Wealth Management

12/11/2024

10/23/2024

Thankful for the ongoing work of this vital non-profit.

Cancer Care Services is a hero to our local community of cancer patients, survivors & caregivers.

If you have been impacted by cancer, please consider a gift of any size — you can donate online at https://cancercareservices.org/one-time-gift/.

No matter how large the gift, you will be a B-I-G hero for your generosity! 💜

07/11/2024

The IRS announced adjustments for 2024, which address a few key areas.
What does that mean for you?

There are changes to capital gains tax rates, annual exclusion for gifts, estate tax exclusion, and more.

Have questions about the new rules? My office has 2024 tax resources that you may find helpful.

This material is for informational purposes only and is not a replacement for real-life advice, so make sure to consult your tax professional before modifying your tax strategy.

IR-2023-208, Nov. 9, 2023 — The Internal Revenue Service today announced the annual inflation adjustments for more than 60 tax provisions for tax year 2024, including the tax rate schedules and other tax changes.

07/08/2024

New college graduates are stepping into a job market that's presenting both challenges and opportunities. Here's a breakdown of what this means for the economy and recent grads:

💼 Decline in Hiring:
Hiring for new grads is expected to drop by 6% from last year. This could lead to reduced consumer spending among young professionals, potentially slowing economic growth.

🔍 Where the Jobs Are:
Industries like legal, nonprofits, arts and entertainment, healthcare, and construction are leading in hiring new grads. Focusing on these sectors can provide more job stability and support these parts of the economy.

🤖 Demand for AI Skills:
Graduates with AI skills are in high demand as businesses look to integrate this technology. This trend could spur growth in tech sectors and open new job opportunities for tech-savvy grads.

Understanding these trends can help new grads make informed career choices and navigate the job market effectively. What are your thoughts on how these changes will shape the economy and the future workforce?

Forecasts show that employers are likely to hire fewer newly minted college grads this year. But there are pockets of job growth.

07/03/2024

07/01/2024

Despite ongoing inflation concerns, the U.S. economy continues to show resilience, according to recent GDP data.

Key insights to keep in mind:
📊 The U.S. GDP grew at an annual rate of 2.1%, indicating steady economic growth.
🛍️ Consumer spending remains robust, fueling economic activity despite higher prices.
The Federal Reserve's actions aim to balance growth and inflation, ensuring long-term stability.

Our nation’s economy continues to defy critics, showing a robustness that can be encouraging. Long-term forecasting is still tricky, with many factors, including the Fed, at play.

Do you believe this economic resilience is sustainable in the long run? Share your thoughts!

The U.S. economy grew at a sluggish 1.3% annual pace from January through March, the weakest quarterly rate since the spring of 2022, the government said in a downgrade from its previous estimate.

06/28/2024

Job openings are on the decline, signaling potential shifts in the economic landscape.

Key insights to consider:
⭐ A decrease in job openings could indicate cooling labor market conditions.
📊 This trend may influence unemployment rates and overall economic stability.
💡 Understanding the interplay between job openings, inflation, and interest rates can help keep you more informed about the state of the economy.

Staying updated on employment trends can be useful for making informed decisions.

What are your thoughts on the impact of declining job openings on the economy and labor market?

U.S. job openings fell in April to the lowest level since 2021. But they remained at historically strong levels despite high interest rates and signs the economy is slowing.

06/25/2024

The housing market saw an uptick in activity last month as mortgage rates fell to a 7-week low.

Here are the key points investors should note:
⬇️ The average 30-year fixed mortgage rate decreased to 7.01% from 7.08% the previous week.
🔄 This rate dip revived refinance demand, with applications up 7% week-over-week and 21% higher than a year ago.
🏡 However, purchase applications for new homes fell 1% as buyers continue grappling with low inventory and affordability issues.

While most existing homeowners still have lower rates locked in, even modest decreases can motivate some to refinance and take advantage of savings.

This temporary refinance revival could indicate a turning point for real estate investors if rates continue trending down and ease homebuyer gridlock.

What's your take on this mortgage refinance revival? Do you see it as a potential leading indicator of broader housing market shifts?

Total mortgage application volume rose 1.9% compared to the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.

06/20/2024

The Federal Reserve has decided to hold interest rates steady for now, but they've indicated a more cautious approach to future rate cuts than previously anticipated.

Key takeaways from the Fed's announcement:
1️⃣ One Rate Cut Expected This Year: The Fed is now projecting only one rate cut by the end of 2024, compared to the three predicted in March.
2️⃣ Higher Long-Term Interest Rates: The Fed also signaled that it believes the long-run interest rate will be higher than previously thought.
3️⃣ Modest Progress on Inflation: While inflation has eased, it remains elevated. The Fed expects inflation to return to its 2% target by 2026.

What does this mean for you? It's a reminder that the economic landscape is constantly evolving.

The Federal Reserve on Wednesday released its decision on interest rates following this week's policy meeting.

06/18/2024

Juneteenth is a celebration of freedom, marking the day when slavery came to an end in the United States.

The observance of this holiday -- formally recognized by the state of Texas in 1980 -- has continued to spread to the rest of the country and beyond.

On this day, we have an opportunity to affirm once more the universal right to life, liberty and the pursuit of happiness for every human being.

I hope that you will join me on June 19 in reflecting upon how far we have come, how far we have yet to go, and how we can continue to advance the cause of freedom and justice across our communities and around the world.

05/28/2024

Good news for the U.S. labor market! 🎉👥 According to ADP, private payrolls increased by 192,000 in April, surpassing expectations and showing continued strength in the job market.

The growth was broad-based, with job gains across various sectors. The strongest growth was seen in leisure and hospitality, which added 56,000 jobs. Other sectors like construction, trade, transportation, utilities, education, and health services also increased.

While this is good news, there's a flip side. Wage growth was up 5% from a year ago, the smallest gain since August 2021. This could indicate that inflation is more resilient than economists and policymakers anticipated.

So, what does this mean for you as an investor? A strong labor market can boost consumer spending, which drives economic growth. However, the slowing wage growth amidst inflation could impact consumer purchasing power.

We'll keep an eye on these trends as the year goes on.



https://www.cnbc.com/2024/05/01/adp-jobs-report-april-2024-192000-jobs-added.html