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January/February 2017 Issue:
PLANNING CORNER
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WHAT'S NEW AT BMc?
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BMc IN THE NEWS
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CLIENT SPOTLIGHT
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IMPORTANT DATES: TAX DOCUMENTS
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BMc SPEAKER SERIES
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RECOMMENDED READING
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BY THE NUMBERS
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Redefining Retirement and the Impact Longevity Can Have on Our Future
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By: Melanie Hagan and Judy Brown
Most clients have a clear sense of purpose during their working years. But what happens next? Figuring out when to retire, what retirement will look like, and what to do with the rest of our lives can be unclear and even a bit scary for many.
It used to be that most people retired around 65, collected Social Security, enrolled in Medicare, and lived on their pension income and savings for 10 to 15 years. With people living longer, they are rethinking the traditional view of retirement and what that means to them.
Click here to read more.
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Save the Date!
On
May 2, 2017,
cl
ients are invited to join us at Hayfields Country Club for the "State of the Media" with Trif Alatzas, publisher and editor-in-chief of
The Baltimore Sun.
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Children are precious, but as we all know they come with a price tag. The average cost of raising a child for 18 years increased 3 percent, to $233,610, according to a fascinating story in the
Washington Post. The number climbs to $454,770 for six-figure couples; and college isn't even included. For more reading on this subject click the link:
It's more expensive than ever to raise a child in the U.S.
When time is short and sleep is the easiest corner to cut, many people get by on five or six hours a night and insist they're fine. Most of them simply don't realize how impaired they are. Dr. James Hamblin explains How to Sleep - and why - in the current issue of
The Atlantic.
Click
How to Sleep
to read more.
Our best clients invest consistently in employer retirement plans, automatic saving plans and automatic plans to pay off loans and debts. If you or someone you know still needs motivation behavioral scientist have created tools to spur savings, including an "age-morphing" photo app to get a glimpse of your future self, the
Wall Street Journal
reports. Click here for more:
In Retirement, It's Save Now or Pay (a Lot) Later.
McDonald's founder Ray Kroc has inspired books, a movie and at least one rock song, but in "Ray & Joan: The Man Who Made the McDonald's Fortune and the Woman Who Gave It All Away,"
Lisa Napoli
gives equal time to his wife, Joan. After being widowed, Joan gave their billions to causes like AIDs research, the Salvation Army and National Public Radio. Click
Kirkus
to read more.
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$1.05 trillion
Chinese holdings in U.S. Treasuries as of November 2016 - its lowest level since May 2010 - after selling $267 billion in Treasuries to support its currency. (Source: Treasury Department)
33%
Percentage of Americans totaling 107.5 million citizens who live in just four states - California, Texas, Florida and New York. (Source: Census Bureau)
43.8 million
Number of Americans with outstanding college loans, including 2.8 million who are 60 and up. (Source: Consumer Financial Protection Bureau)
60%
Percentage of occupations with 30% of their daily functions replaceable by technology or robots. (Source: McKinsey Global Institute)
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We are pleased to welcome our new Client Services Assistant, Maryann Durst, to the team!
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Susan Mitcheltree's
daughter, Mina, was featured in the York Dispatch for her school's winter wonderland challenge. Mina says of her "Island of Misfit Toys" cardboard artwork, "I got to be creative, it didn't have to be perfect."
Read more here!
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David Berman's wife, Andy, travelled to Haiti again this January, the first of three planned trips this year with
The Haiti Mission Foundation.
Their rural clinic provides the only medical care available to the 60,000 residents of the Grison Garde region.
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Joe McAleer's
daughter, Molly, was featured in two Baltimore Sun profiles for her skills and leadership on Maryvale's basketball team. On January 10, Molly was dubbed the "Girl Athlete of the Week" and on January 14, Molly's three-pointer with 12 seconds left in the game helped Maryvale defeat rivals Notre Dame Prep! Click here to read the story.
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Drew Cook was recently tapped by the
Baltimore Sun to discuss wealth management trends in the New Year.
Read the interview here.
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For the first time in history the Dow Jones Industrial Average broke a resistance band and ended above 20,000. FOX45-TV invited Patrick Monaghan on-air to comment on the historic day.
Watch his interview here.
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The Baltimore Sun sought input from our CEO,
David Berman
, on President Trump's decision to delay and review the DOL rule affecting retirement plan advice and the fiduciary standard.
Click here to read the article.
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Happy Birthday to centenarian,
Fannie Marder
! On February 1, Fannie turned 101 years-old.
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Vicky Mannina's son Jonathan, recently won a 2017 Tarshis Award at the Animal Film Festival for his short film, "Compassion Over Killing - Whose Side Are You On." Her youngest son,
Daniel,
launched
OrcaVue, a
patent pending technology that results in a seamless video, mimicking the iconic Matrix bullet-time effect.
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Sarah Creal
, who leads global partnership initiatives for Estée Lauder, was featured in
British Vogue
for the second release of the Victoria Beckham's sell-out Estée Lauder make-up collection.
Read the Vogue story here.
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IMPORTANT DATES: TAX DOCUMENTS
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Tax time is upon us again and your
1099s will be arriving shortly. Below are a few key dates regarding when you can expect yours!
- 2/18/2017: Mailing date for 1099s or "Preliminary" 1099s (for accounts which hold securities with delayed reporting)
- 3/10/2017: Mailing date for final 1099s for accounts holding securities with delayed reporting (e.g., REITs or UITs)
As in 2015, the mailing dates this year are later than in previous years in an effort to reduce the number of corrected 1099 tax forms. If a corrected 1099 tax form is required for any of your accounts it will be mailed by
March 23rd, 2017.
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