Good morning! Today’s reads include the Fed’s well-anticipated decision on interest rates, mortgage trends, and what a tax refund really means.
INVESTING & THE ECONOMY
The Federal Reserve is expected to leave interest rates unchanged at its meeting this week, and Federal Reserve chairman Jerome Powell is expected to go out of his way to not rock financial markets.
Mortgage application volume decreased 3 percent last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was 16.5 percent lower than a year earlier. An adjustment was made to account for the Martin Luther King Day holiday
If you’re one of the tens of millions in line for a big tax refund check this season, there’s one other step you should think about taking before you spend a dime: Review Form W-4 filed with payroll at work.
Precision isn’t always possible when it comes to retirement planning. That doesn’t mean you have to wing it and hope your savings don’t expire before you do. Looking at the income, living expenses and life spans of today’s retirees can help you make the right financial moves so your golden years aren’t tarnished by an unexpected shortfall.
“I earlier believed in the myth that financial plans were only for the filthy rich or people in senior positions in their 40s and 50s with enough corpus, but then as I read about it more, I decided to give it a try. Later, the planner explained to us that we could start off even with a small corpus.”