Headlines
- Brazil State Bans Pesticide After Zika Claim
- Human Error Caused German Train Crash
- European Countries Weigh New Barriers Along Migrant Path
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What's the Best Way to Give Money to Children and Grandchildren?
In 2014, the IRS allows you to give up to $14,000 annually (or $28,000 if you give jointly with your spouse) to each of as many people as you'd like in cash, investments, and/or property without triggering gift taxes. (This limit may be adjusted for inflation in future years.) If you're thinking about giving money to minor children, such as a new grandchild, it might make sense to take advantage of The Uniform Gifts to Minors Act or The Uniform Transfers to Minors Act (UGMA/UTMA) depending on your state. An UGMA/UTMA account allows you to establish a savings or investment account in a child's name, with one adult named as custodian.
More on 'Best Way to Give Money to Children and Grandchildren'.
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The Markets
Are markets suffering from excessive worry?
Last week, markets headed south because investors were concerned about the possibility of negative interest rates in the United States - even though the U.S. Federal Reserve has been tightening monetary policy (i.e., they've been raising interest rates).
The worries appear to have taken root after the House Financial Services Committee asked Fed Chair Janet Yellen whether the Federal Reserve was opposed to reducing its target rate below zero should economic conditions warrant it (e.g., if the U.S. economy deteriorated in a significant way).
More on 'Market Commentary' here.
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By the Numbers
Notes: S&P 500, Gold, DJ-UBS Commodity Index returns exclude reinvested dividends (gold does not pay a dividend) and the three-, five-, and 10-year returns are annualized ... more important disclosure mentions found here. (We urge you to read the entire disclosure statement.)
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