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Last week, Ryan Bayonnet, CFP®, MSF was featured in U.S. News & World Report's article titled 5 Tips for Newlyweds Merging Bank Accounts and LendingTree's article titled Tips for Getting out of Business Debt. Take a look at the articles below as well as a picture from Ryan's recent speaking engagement at the Ohio State University. The Fed Lowers Rates, Then Hits Pause The Federal Reserve continued to make headlines in the fourth quarter of 2019. Their first meeting of the period occurred in late October when they lowered rates for the third time by 0.25%, highlighting their concerns about global growth, low inflation, and uncertain trade policy as the main rationale behind the decision. The Setting Every Community Up for Retirement Enhancement (SECURE) Act is a bipartisan bill designed to address Americans' difficulty in saving and investing for retirement. The bill passed the House of Representatives in a 417-3 vote in July and the Senate in a 71-23 vote in December. The President signed the SECURE Act into law last Friday as part of the government’s overall spending bill. The bill seeks to put into place provisions to strengthen retirement security across the country. Listed below are some of the major changes and how they may affect your retirement plan. Each year, US Medical Specialties, Inc., an international medical consulting firm, helps physicians and other healthcare professionals find community based, doctor friendly financial advisors. For the third year in a row, Ryan M. Bayonnet, CFP®, MSF has been recognized by MD Preferred for his service to physicians. Central Banks Take Center Stage The Federal Reserve was two-for-two in their meetings during the third quarter, lowering rates by 25 bps at each, with global growth weakness, low inflation, and trade uncertainty (i.e. US/China) considered important factors in their decisions. Beginning today, TD Ameritrade will be ending commissions for online trading in U.S. stocks, exchange-traded funds and options. 1. Pay off Student Loans When beginning residency, the first thing you should is gain a full understanding of your student loans. Use an account aggregation service similar to Mint, Blueleaf, Personal Capital, etc. to view all of your loans in one place throughout the debt payoff process. These tools will prove to be a great resource. The state of the US Economy has been featured more prominently in the news lately due to a recent inversion of the yield curve. An inversion of the yield curve occurs when the 10-Year Treasury yield falls below that of the 2-Year Treasury yield. For investors, this may cause concern as an inverted yield curve can be considered the canary in the coal mine for a future recession. This along with the effects of trade and currency wars, have caused markets to be unusually volatile. Municipal Bonds are debt securities issued by states, cities, townships, counties, or school districts to finance large capital expenditures. These bonds are typically used to finance projects such as the construction of roads, airports, schools, or hospitals. As the owner of a bond, you receive coupon payments twice a year, until the bond matures. For example, if you owned $10,000 worth of a bond that yields 2.5%, you would receive coupons of $125, twice a year. Hyland Financial Planning's Ryan Bayonnet, CFP®, MSF has always been passionate about financial literacy. From working with clients, friends, and family, it has always been important that they have an understanding of what is going on with their money. Ryan has recently volunteered as FinMango's newest Domestic Senior Advisor. FinMango is a 501(c)(3) non-profit organization on a mission to address economic inequality through the lens of opportunity with programs in financial inclusion and entrepreneurship. FinMango strives towards eradicating the vicious cycle of poverty around the globe using innovative financial solutions.
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