MARKET WATCH/Mark DeCambre

Gold prices struggle for purchase higher after worst weekly in more than 2yrs

November 11, 2019

“Gold futures traded little-changed Monday as the precious commodity sought to gain traction higher after the sharpest weekly skid in percentage terms since 2017 for silver and gold.  December gold on Comex was 50 cents, or less than 0.1%, higher at $1,463.40 an ounce, after the yellow metal marked its biggest weekly slide, off 3.2%, since the week ended May 5, 2017, when the most-active contract fell 3.26%.

December silver meanwhile, shed 4 cents, or 0.2%, at $16,775 an ounce, after it booked a 6.8% decline for the week, the sharpest such fall since the week ended July 7, 2017. Commodity experts say precious metals may be in a vulnerable spot after recent record gains in the Dow Jones Industrial Average and the S&P 500 index which imply that demand for assets considered havens may be waning in place of growing appetite for stocks.  ‘While $1,460 is providing some temporary support, this remains a very vulnerable level with $1,440-1,450 below here also interesting,’ wrote Craig Erlam, senior market analyst at brokerage Oanda.”

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BBC/China Desk

Hong Kong protests: Two people in critical condition after day of chaos

November 11, 2019

China Desk“Two people are in critical condition after another day of violent demonstrations in Hong Kong. A protester was injured on Monday morning when he was shot at close range by a police officer.

He was the third person shot by police since the protests began 24 weeks ago. Later on Monday a pro-Beijing supporter was doused in flammable liquid and set alight after arguing with protesters, who are demanding greater democracy and police accountability in Hong Kong. The territory’s Chief Executive Carrie Lam, speaking to reporters on Monday evening, warned protesters they would not succeed in getting their demands.

There were clashes across Hong Kong on Monday between protesters and police, who fired rubber bullets and tear gas. At one point, tear gas was fired in the central business district – a rare occurrence during working hours on a weekday. Monday’s violence followed a weekend of vigils and protests after a 22-year-old student protester died on Friday. Alex Chow had been in hospital since he fell from the ledge of a car park during a police operation a week ago. The protests started in June against a now-withdrawn plan to allow extradition to mainland China.”

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CNN BUSINESS/Julia Horowitz

Two of the world’s biggest economies are at risk of recession

November 10, 2019

Recession Risk“Investors have recently put fears about the pace of global growth aside, opting for optimism on a ‘phase one’ US-China trade deal. But muted economic data expected out of Europe this week could change the mood. Germany may post data Thursday indicating that it’s in recession. Economists surveyed by Reuters believe the world’s fourth largest economy shrank 0.1% between July and September — marking two straight quarters of negative growth. It’s possible that Germany — which has been hit by the trade war, as well as falling global demand for autos — just dodged a bullet.

Recession or not, the reality is that Germany’s economy, the largest in Europe, looks very weak. A reminder of that could give investors a jolt. ‘The fact remains that the German economy has been in de facto stagnation for more than a year, Brzeski said.  This is clearly nothing to become too cheerful about.  Also, on the calendar is Fed Chair Jerome Powell’s testimony before Congress on the US economy on Wednesday and Thursday. Expect Powell to get grilled on where the Fed goes after three straight ‘insurance’ cuts to interest rates. He’s also likely to face questions on weak manufacturing and business investment data … The United Kingdom will report GDP data on Monday. The country’s economy shrank for the first time since 2012 in the second quarter as global growth and Brexit fears loomed large — but economists think the U.K. will narrowly recession.”

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BARRON’S/John Coumarianos

401(k)s Aren’t Helping Americans Save Enough for Retirement.

November 9, 2019

401k savings“The rise of 401(k) plans over the past 40 years as a pension replacement hasn’t helped Americans save enough for retirement, thanks primarily to the relative immaturity of the system and a lack of access or participation for many workers. In a new research paper from the Boston College Center for Retirement Research … argues that there are four reasons for 401(k)s’ shortcomings—the system’s youth (the plan has been around only since the early 1980s), the lack of universal coverage, so-called leakage where participants withdraw funds early, and fees.

Most workers have 401(k) balances at retirement that are well below their potential. For example, a 25-year-old median earner in 1981, if he/she contributed regularly, would have accumulated about $364,000 by age 60. But in reality, the typical 60-year-old with a 401(k) in 2016 had less than $100,000 Many employers still don’t make plans available or restrict participation. Further, some employees simply don’t participate. Plan participants have a number of ways of accessing savings before retirement. They have the ability to cash out when they change jobs. Or they can take hardship withdrawals. The 10% penalty imposed on withdrawals before age 59½ hasn’t prevented considerable leakage, either. Vanguard Group data for 2013 shows an annual leakage rate of 1.2% per year, nearly half of which is attributed to cash-outs during a job change.”

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MARKET WATCH/Shawn Langlois

The biggest risk facing the stock market in the coming year isn’t trade jitters or the election, Deutsche Bank warns

November 10, 2019

risks to markets in 2020“There’s plenty for investors to get all stressed out about in the coming year, and Deutsche Bank chief economist Torsten Slok’s latest list of the 20 biggest risks will do little to alleviate concerns. As you can see, the potential for more trade fallout and fears over slowing growth still rank high on Slok’s list, but inequality is in the top spot. ‘They are all important at different horizons,’ Slok told MarketWatch on Sunday, ‘but a continued rise in inequality and associated political response is something investors can no longer ignore.’

Democratic presidential candidates certainly aren’t ignoring it. Increased taxes on the rich, is a critical part of the campaigns of both Sens. Elizabeth Warren and Bernie Sanders ahead of the election. Big-name investors have already made it clear what a President Warren could mean for markets. Billionaires Paul Tudor Jones, Leon Cooperman and Steve Cohen have all talked about a nasty correction that could follow her victory.”

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THE WALL STREET JOURNAL/Anna Maria Andriotis and Ben Eisen

More Borrowers Are Going Underwater on Car Loans

November 9, 2019

Car Loans“Consumers, salespeople and lenders are treating cars a lot like houses during the last financial crisis: by piling on debt to such a degree that it often exceeds the car’s value. This phenomenon—referred to as negative equity, or being underwater—can leave car owners trapped. Some 33% of people who traded in cars to buy new ones in the first nine months of 2019 had negative equity, compared with 28% five years ago and 19% a decade ago, according to Edmunds. Those borrowers owed about $5,000 on average after they traded in their cars, before taking on new loans. Five years ago the average was about $4,000.

Rising car prices have exacerbated an affordability gap that is increasingly getting filled with auto debt. Easy lending standards are perpetuating the cycle, with lenders routinely making car loans with low or no down payments that can last seven years or longer. Borrowers are responsible for paying their remaining debt even after they get rid of the vehicle tied to it. When subsequently buying another car, they can roll this old debt into a new loan. The lender that originates the new loan typically pays off the old lender, and the consumer then owes the balance from both cars to the new lender. The transactions are often encouraged by dealerships, which now make more money on arranging financing than on selling cars.”

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60 Years Experience

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Successful retirement planning requires a great deal of foresight. Although it is impossible to say exactly how much money you will need once you have settled down, it is possible to make helpful estimates. In this article, we will take a quick look at a few of the most important ways that retirements could potentially reduce your expenses, along with a few of the most important ways that retirement could potentially increase your expenses.

How retirement could increase your expenses

• Relocation. Many retirees opt to move to a different part of the city, the country, or the world once they are no longer constrained by the physical location of their workplace. Perhaps you have always dreamed of living in a more tropical region such as Florida, for example — or perhaps you simply long to move closer to family or friends. If relocating is part of your plans, then you should definitely plan for moving expenses.

• Living Expenses. If you are relocating, then research living expenses in your new area — the cost of food, rent, necessities, etc. all vary based upon location.

• Entertainment expenses. Seeing shows, dining out, and participating in other entertainment activities cost money. And with increased free time, you will have lots of chances to participate in these pastimes.

• Inflation. The value of paper currency is always falling. Saving up — and investing in inflation-countering assets — is the only smart way to overcome this obstacle.

• Travel. Retirement is a time to spend with friends and family. It is also a time to achieve lifelong dreams such as seeing new places and experiencing new cultures. Doing these things requires money set aside for travel expenses, however. So be sure to calculate this into your retirement plans.

How Retirement Could Decrease Your Expenses.

• Commuting less. Your daily commute requires you to dish out big bucks for gasoline and car maintenance — once you retire, this won’t be the case.

• Your professional wardrobe. Suits, dresses, shoes, ties, accessories…the list goes on and on. Maintaining a professional wardrobe can be quite the expense. Aren’t you glad you wont need to do this once you’re retired?

• Restaurants. Retirement allows you to dine out when you want to dine out. If you are used to spending lots of money on lunches in the city during the workday, then you can prepare to lower that expense one you retire.

• Living expenses. We already mentioned that relocating can affect your living expenses — and this could possibly be a net positive!

Working on your personal retirement plan? Visit Red Rock Secured online today to learn more about your retirement planning options!

 

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60 Years Experience

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Be prepared for the latter stage of your life and the financial obligations that come with it.

You can never be too prepared for retirement. After all, you never know what life has in store for you after you’ve retired from working. Protecting your investments is among the highest priorities that you have as you start to amass savings. Knowing that you’ll one day be able to live comfortably off your investments is a relief. Let Red Rock Secured help you get the most from your savings.

Here are five ways to be better prepared for retirement:

  1. Take advantage of your employer’s 401K program from as early on as you can. The closer you are to retirement age, the more likely it is that you’ve already taken this step. Being able to realistically plan for your needs and come up with a savings plan that works for you at a young age is ideal. If you didn’t have a chance to put money up in your 20s and 30s, make sure to max out 401K accounts when you’re able to start contributing to them. Any money that you put away is better than no savings at all.
  2. Open your own IRA or Roth IRA account. Make regular deposits into it. That way, there is no question that you’ll have a good amount of money saved once you’ve reached retirement age. Most financial institutions offer a retirement savings account. Find one that meets your needs and schedule a time to meet with a personal banker who can answer any questions you might have.
  3. Work with a financial advisor who can help you make the most of the money that you’ve saved. A money master will help you grow your savings into life-changing Do your homework and research the different advisors in your area that are top-notch. Choose one to meet with and interview them by asking a series of questions pertaining to their skills and knowledge base. That way, you know you’ve made the right decision.
  4. Consider the value of gold, silver, and other precious metals. Request a free Gold & Silver Retirement Kit from us. That way, you’re able to see how valuable precious metals are. You can also keep track of the current market value of gold and silver by visiting our website often and paying close attention to the ticker of prices at the top of our page.
  5. Learn to live on less so that you’re able to invest as much as you possibly can. Making changes in the way you live today helps you better plan for the future. Do your part to cut back on unnecessary expenses so you’re able to sock away more money into your retirement funds and precious metal investments.

Prepare for retirement better with Red Rock Secured. Investing your retirement funds in precious metals such as gold and silver is wise as it allows you to plan your future by diversifying your investment portfolio. Best of all, there are no tax penalties for making the decision to convert your 401K into gold or silver coins. There are no startup fees to do so, either, and you can arrange for home delivery of your precious metals if you elect to go with that option with us.

60 Years Experience

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You’ve worked hard your whole life, now let your money work hard for you.

With the date of your retirement closing in, it becomes ever more important to save and invest while you still have time. If you find that you haven’t yet met your financial goals, there are things you can do to become better prepared for retirement. In fact, the more steps you take now in the present, the fewer you’ll be required to do later on. You’ll be able to retire on schedule without postponement.

Here are five ways to be better prepared for retirement in 2019:

  1. Expect the best but plan for the worst. It only takes one catastrophic health diagnosis to wipe out all of your savings. That’s why you can never be too prepared for the future. Stocking away as much money as you possibly can for retirement is advisable at any age. The younger you do this, the better off you’ll be in the long run because your investments have time to mature.
  2. Cut back on unnecessary expenses now. If you don’t need it, don’t buy it. Save the money instead. The better acquainted you get with wants and needs now, the easier it will be to live on a budget once you do retire. Your investments will need to see you through the long days of retirement. Do yourself a favor today by examining your monthly budget closer and seeing which expenses you can lower and eliminate. They won’t be an issue at a later date if you take the time and actions needed to get rid of them now.
  3. Find a better financial advisor to work with. Among the most important relationships you’ll have as you age is the one you have with your financial advisor. If you don’t have one or have been working with someone who hasn’t held up their end of the relationship, it’s time to move on. You can easily find someone who is better qualified to handle your retirement funds and investments by doing some research. You may even ask your friends or work colleagues for a referral.
  4. Learn what it takes to truly diversify your portfolio. Having a variety of options to choose from is a sound decision. You won’t be sinking all of your savings into one type of investment, and therefore, be better capable of weathering financial storms at a later date. If the economy tanks, you won’t go belly-up in the process. You’ll be sitting comfortably and enjoying the lifestyle you planned for yourself once you retired.
  5. Request more information about Gold IRAs from Red Rock Secured. Learn all you can about investing in precious metals. As an informed investor, you make decisions based on what you know and not what you feel. You lead with your brain and not with your heart. You make decisions that impact you and your family positively.

Be better prepared for retirement. Let Red Rock Secured show you how. You’ll be able to get the most out of your savings by investing in precious metals which retain their value in a volatile market. Diversify your portfolio in 2019 with a self-directed Gold IRA purchased with pre-tax or post-tax dollars.

 

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60 Years Experience

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GOLD IRA GUIDE