Mark Hamrick

speaker

105 appearances 2 recordings 1 series first heard Dec 2017 last heard Jun 2018

Mark Hamrick’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Tax Bill: Wise to Spend Extra Money in Your Paycheck? · 22 Dec 2017 podcast

It's going to take some time for HR departments, not to mention the IRS, to sort of get in line.

But, you know, even though, you know, the majority of Americans will feel the benefit of more money going into their bank accounts or their wallets almost immediately.

The reality is that of tax filing season for 2018 then actually goes to, you know, the early part of 2019, which comes after the midterm election.

So just how much Americans are going to, let's say, credit legislation.

members of Congress for this and the president in the midterms.

And obviously, you know, a lot can happen in a day, a minute and a week these days, much less the many months remaining before the midterms.

It's going to be very interesting to watch.

J.R., I so appreciate the question, so thank you for asking it.

Because, you know, there is the day-to-day noise of the news cycle, and that sometimes can be a bit mind-numbing.

We step back from all that at Bankrate and we say,

OK, let's assume that, you know, this money is coming into your bank account, the benefits of the tax cut.

It might be very American of us to go out and spend that money.

And perhaps every business in the United States or most of them anyway would like for that to happen.

Retailers at the top of that list, manufacturers, too.

But, you know, in the past, our surveys have indicated that the number one financial regret that Americans have

is basically the failure to save, and that falls along two lines, the failure to save for emergencies and the failure to save for retirement.

So where would the best location for this new money or destination be?

Well, obviously, savings is at the top of that list, but also to pay down debt.

And so as we look out over the horizon, we know that the Federal Reserve just wrapped up its third interest rate increase of 2017.

The outlook is basically for three more rate hikes in 2018.

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