July 25 2023 |, By, Mesirow Currency Management, Does a shorter security settlement cycle mean more foreign exchange risk, Same-day security settlement is moving closer to reality with the decision by the US Securities and Exchange Commission to require security transactions to settle one day after trading beginning May 28 2024 The SEC expects the shorter settlement period to reduce risk cut costs and modernize securities trading infrastructure The change will present processing and technological challenges including…, Changes in security settlement affect FX trading, Cutting the settlement cycle by half affects the time allotted to security processing which in turn affects currency trading for foreign investors As an example a European investor would need to convert euros to US dollars to buy equities on a US exchange Often that currency order is issued after certain security processes such as allocation and confirmation are completed  Foreign exchange (FX…, two hours, will exist to submit FX trade details for CLS processing after equity trading closes Equity managers and the currency trading entity will need near-flawless processing to meet the CLS deadline It is likely that issues with some equity or FX trades will arise requiring intervention and manual processing and the CLS cutoff deadline will be missed  Even without the CLS deadline there is not much…, Ways FX trading can support T + 1 settlement cycle, Table 1 summarizes the pros and cons of various FX strategies related to T+1 settlement  TABLE 1 FX STRATEGIES FOR T+1 SECURITY SETTLEMENT FX Strategies for T+1 Shorter security settlement cycles result in significant benefits ones that would also be advantageous for foreign exchange trading and the move to T+1 security settlement might be the event that spurs the currency market to upgrade…, Explore, Central Bank Digital Currencies, What do CBDCs mean for the US dollar as the worlds major reserve currency Read article, US dollar Currency dynasty, Is the USDs position as the worlds reserve currency safe or is its decline inevitable Read article

They call it the “sandwich generation” when we balance caring for our parents or grandparents at the same time as we care for our children In fact one of every eight Americans aged 40 to 60 are doing so¹, Many of us have had a loved one — a parent or grandparent — who needed someone to help in their home with daily living activities or were a resident in a nursing home Based on this experience its human nature to worry that the same thing could happen to us We are living longer and the likelihood of needing some kind of care as we age is very real It is not a surprise then that of the individuals…, What is long term care, Long term care is care we might need often due to a health or mental health issue because we are unable to perform daily activities like feeding bathing or even clothing ourselves without assistance Long term care can be provided either at home or in a facility, Who needs long term care, Let’s look at some important facts According to the US Government 70% of people turning 65 can expect to use some form of long term care during their lives² There are a number of factors that can contribute to whether or not an individual may need care Women are projected to live 5 years longer than men on average thus are more likely to need care longer generally 37 years more care More than 70…, How much does long-term care cost, The cost of long term care is significant The information below provides an overview of the current median costs in various cities around the US, Median annual cost (2024, Chicago, Home Health Aide = $75005/year Assisted Living = $63269/year Nursing Home = $105694/year, Miami, Home Health Aide = $57504/year Assisted Living = $57499/year Nursing Home = $142982/year, New York, Home Health Aide = $72505/year Assisted Living = $60056/year Nursing Home = $173522/year, San Diego, Home Health Aide = $84881/year Assisted Living = $71792/year Nursing Home = $159538/year Assumption Assisted living and nursing home assumes private room  To look at costs near you you can access this online tool https//wwwgenworthcom/aging-and-you/finances/cost-of-carehtml Factoring in inflation is also a critical component For example in the Chicagoland area the costs above increased from 4%…, How do I pay for long term care, Considering these statistics a comprehensive financial plan should contain clear direction on how to pay for long term care Options include Medicare Keep in mind that coverage for long term care is limited Medicare does not pay for “non-skilled assistance” with activities of daily living which make up the majority of long term care services It is critical to understand what Medicare does and does…, Published January 2024, 1 US Census 2 LongTermCaregov   3 Genworthcom Mesirow Financial maintains a financial interest in and a strategic relationship with Alliant/Mesirow Insurance Services

As we get older it becomes increasingly important to ensure that our health care needs and desires are well documented and understood by our family friends medical providers and professional advisors This is why so many people seek counsel to draft or update health care and other estate planning documents, Within your various planning documents — specifically health care and property powers of attorney wills and revocable trusts — you have named specific individuals to carry out critically important decisions on your behalf These decisions have a direct bearing on your health care management of your property financial affairs and distribution of your assets upon your passing Too often these…, Plan in advance for assisted care, At some point you and your family will most likely need to make decisions about assisted care This may involve a care facility or you might wish to stay in your home Long term health care choices are complicated Decisions are based on a myriad of things including financial capacity need for care now and in the future and location to name a few Making these decisions well in advance of need can…, Communicate your end-of-life health care decisions , It is not uncommon for a parent to name a child as their health care power of attorney without ever having discussed their end-of- life care wishes with the child According to a national survey by the Conversation Project a public engagement campaign to promote end-of-life discussions more than 90 percent of people think its important to talk about loved ones’ wishes for end-of-life care as well…, Preparing for the conversation, Please feel free to consult with your Mesirow wealth advisor to further discuss the financial aspect of these potential decisions and how best to coordinate these important conversations with your family, Published January 2025, ¹ http//theconversationprojectorg

Tammie Kuykendall is a Vice President Plan Communications in Mesirow Executive Benefit Services She is responsible for plan reporting as well as communications and educational materials for clients and participants in nonqualified deferred compensation plans Tammie has 39 years of industry experience specializing in the administration of nonqualified deferred compensation plans Prior to joining…

by Keith Gustafson CFA and Christopher M ONeill PhD CFA CFP ®, FRM ®, ChFC ®, An industry overview of glide paths and asset allocations Target Date Funds (TDFs have been utilized since the Pension Protection Act (PPA of 2006 in a Qualified Default Investment Alternative (QDIA setting as a means of providing retirement savers with a one-stop solution suited to their age and in some cases risk tolerance level Among the allowed QDIA options which consist of managed accounts…

President Trump’s tariff announcement on April 2 2025 was much more significant than markets expected resulting in sharp selloffs across most equity markets Though the full impact of the announcement is still undetermined we continue to believe in staying focused on core investment principles around owning high-quality businesses at reasonable valuations a practical asset allocation based on your…, Please see below for our perspective on the announcement the market reaction and our ideas for navigating periods of uncertainty While Trump announced a 10% minimum tariff on all countries he also announced much more severe tariff rates on some of the United States’ key trading partners including an additional 34% tariff on China (bringing China’s total tariff levy to over 50% , According to Fitch and Reuters the tariffs amount to an effective 26% global tariff rate the highest since 1910, 1 Market pundits are pointing out the haphazard manner with which these tariffs were announced , we view the market’s reaction as reflecting concern about economic growth, but NOT a crisis of confidence,  For example Treasury Bonds are doing a good job as a market hedge reflecting the view that US government bonds are still a safe haven during times of uncertainty We expect that , yesterday’s announcement was not the “end game”,  that the range of outcomes remains wide and where we are today is likely not where we will end up in the future If taken at face value , the immediate-term impact of these tariff implementations may likely be higher prices and a slowdown in spending,  potentially resulting in economic contraction or a recession, We expect that economic data will be choppy over at least the next few months, as businesses make unique timing decisions about how best to manage this uncertain tariff environment For example several businesses have pulled forward spending and built up inventory in recent weeks in anticipation of higher costs in the future In the medium term assuming no change to the tariff rates announced yesterday , we expect businesses to re-examine trading partners and routes including building domestic capacity and adjusting supply chains,  For example China faces higher tariff rates on the production of shoes than Brazil so shoe manufacturers may look to move production from China to Brazil However these decisions are costly and won’t likely be made quickly as executives weigh the risks and rewards - especially if the tariff regime changes again from here While the near term is uncertain , we caution against significantly changing your investment strategy,  Markets tend to rebound before data suggests improvement Staying on the sidelines and missing a rebound can be very costly to your long-term returns Long-term investors should already be aware that significant market drawdowns seem to occur every few years While the causes of the significant selloffs tend to change (housing crises pandemics inflation and unexpected tariffs the patterns remain…, We think the key to this market environment is to focus on core investment principles around maintaining a long-term perspective asset allocation and diversification,  International stocks and bonds have held up relatively well in this recent environment highlighting the benefits of asset class diversification Published April 4 2025 1 | https//wwwreuterscom/markets/us/us-tariff-rate-rockets-22-highest-since-1910-fitch-economist-says-2025-04-02/

With the change in tax code a few years ago many affluent individuals and families who used to itemize now qualify for the standard deduction instead which can impact the deductibility of charitable gifts Throughout our history Mesirow has had a strong philanthropic culture so charitable giving is a wealth planning area in which we are very experienced and eager to help provide some new ideas…, Here are two strategies to consider, Strategy 1 Donor Advised Fund, One approach taxpayers can consider is to strategically “lump together” several years’ of charitable donations into a single tax year by making a donation to a Donor Advised Fund (DAF A DAF is a vehicle for charitable giving that makes it easy for donors to dedicate funds to support their favorite nonprofit organization It allows the donor to make a charitable contribution receive an immediate…, Strategy 2 IRA Qualified Charitable Distributions (QCDs, Charitable-minded investors can take advantage of qualified charitable distributions (QCDs where some or all their distribution is donated directly to a charity In these situations the amount donated can be used to satisfy the annual required minimum distribution (RMD requirement but is excluded from taxable income This approach is limited to $100000 per year  In situations where the taxpayer is…, Published  February 2024, Sources “Timing Tax Savings With Deduction Lumping And Charitable Clumping” Nerds Eye View Blog wwwkitcescom January 31 2018 https//wwwirsgov https//wwwirsgov/charities-non-profits/charitable-organizations/donor-advised-funds “Rules and Requirements For Doing a Qualified Charitable Distribution (QCD From an IRA” Nerds Eye View Blog wwwkitcescom June 15 2016