For the first time since 2010, the world economy beat expectations this year and Goldman Sachs thinks that could happen again in 2018. The bank’s global GDP forecast for 2018 is 4 percent, up from 3.7 percent in 2017 and “meaningfully above consensus,” according to a recent report by GS. Along with growth predictions, the 14-page report includes more than a dozen charts and other analyses on inflation (or lack of) and monetary policies looking ahead to the new year.
Half of IRA Holders Have Yet to Take 2017 RMDs
Looking across its client accounts, Fidelity Investments found that nearly half of the Individual Retirement Account holders who are required to take minimum distributions have not done so yet this year. Another 12 percent have only taken partial distributions. Not taking the required annual distribution from an IRA after turning 70 and a half means a 50 percent penalty from the IRS. Fidelity says it’s not that unusual for IRA holders to wait until the end of the year to take the distributions, particularly when investors anticipate the market is headed higher. But given the increased number of baby boomers coming up to the age requirement, it’s expected more will miss the deadline. This year, the deadline for taking the RMD is Dec. 29.
One Thing Clients Should Spend a Lot On: Time-Saving
Big spending on sports cars or homes might bring a client joy, but the best return on an investment—in terms of happiness—comes from time-saving services. Research has shown that those who spend money on housekeeping, delivery services and taxis were happier than others. But this article from CNBC helps people explore what else might truly make them happier. Among the questions, it recommends people ask themselves: Will this purchase change the way I spend my time on an average day?
