AAM Weekly Market Wrap 4/23/2010

April 23 2010

Weekly Market Wrap: The S&P 500 posted its 9th positive week out of the last 10 by gaining about 2% to settle at 1,217.  For the year the S&P 500 is now up 9%.  Both Gold and Oil finished around 2% higher this week as well.  Gold ended the week at $1,156 per oz. and Oil finished at $85.11 per barrel.  The dollar ended the week up almost 1% against other major world currencies at $81.42.

Mortgage rates have are remaining pretty steady. The Schwab Bank 15-year rate is now at 4.67% and the 30-year rate is at 5.24%. These rates are as of 4/23/2010 and assume no points, no origination fee and a $250,000 mortgage.

The Week at AAM:

I met with a few clients to help them strategize debt payment plans to get them debt free.  Showing how quick debt can be paid off with a debt snowball plan can be motivating.  One client is about a whole year ahead of the pace we set last year!

I helped a couple of clients plan for their upcoming retirements in the next year.  I love getting clients to this stage in life where work is now optional and they can now follow their retirement dreams.

I am currently working on comprehensive financial plans for four new clients.  I really enjoy going through the numbers for clients and seeing if they are in a position and showing them how to reach their financial goals.

On a personal note, soccer and T-ball seasons are in full swing.  It looks like it is going to be a fun spring!  I hope yours is great as well.