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Washington Trust Wealth Management Blog


Timely advice & commentary about investing, taxes, financial planning and more.

By Washington Trust / July 19, 2021
The economic recovery that began this past spring has remained on track through the early weeks of the summer driven by a successful vaccination effort and an accelerating re-opening of the U.S. economy.

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By Washington Trust / July 19, 2021
The success and happiness of our children are top priorities for most parents. But are we doing everything we can to build a solid financial foundation for the next generation? In a study conducted by FINRA Investor Education Foundation, participants were asked “five questions regarding economics and finance encountered in everyday life,” including compounding interest, inflation, basic investment principles, and the impact the term of a mortgage can have on payments over the life of the loan.

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By Washington Trust / April 21, 2021
With the arrival of Spring, the U.S. economy appears to be well on the way to a full recovery. Economic growth, a very respectable 4.3% in Q4 2020, is poised to accelerate sharply in the coming quarters on the back of rising consumer spending boosted by stimulus payments. We estimate quarterly GDP growth on an annualized basis could reach the low double digits by mid-year, while full year 2021 growth could well exceed 7%, the strongest growth since the early 1980s.

By Washington Trust / April 21, 2021
Everywhere there are signs of Spring, from buds appearing overnight on trees to birds chirping. Spring is when we clean, straighten, and organize our houses. And it’s also a great time for some financial spring cleaning to make sure your financial situation is in order and your information safe and secure from theft or fraud. This is especially relevant as we re-enter a more “normal” environment and begin to venture out to stores, dine out, and travel. Fortunately, some basic steps can help you get organized and safeguard your finances.

By Washington Trust / January 20, 2021
2020 is now, thankfully, history. While the human toll from COVID-19 has been staggering, the economic damage has not been as great as initially feared. The Federal Reserve now forecasts that full year 2020 GDP will have declined by 2.4% from 2019 , less than the drop in 2008 during the Great Recession.

By Washington Trust / January 20, 2021
Though vaccines have been approved and are being distributed, the pandemic seems far from over. Legislation signed into law on New Year’s Eve included some COVID-19 related provisions. But despite the fact that the pandemic is not over, most of the pandemic-related tax provisions that benefited our clients last year have ended.

By Washington Trust / October 15, 2020
The so-called “Kiddie Tax” is a tax imposed on a child’s unearned income. Generally, a “child” means someone under 17 years old (or under 24 if certain criteria are met) and “unearned income” means income derived from sources not related to employment, including investments.

By Washington Trust / October 15, 2020

We will join the chorus and state the obvious. Unless you survived the flu epidemic of 1918, 2020 is a year unlike any experienced in our lifetime. The U.S. economy suffered its steepest downturn on record due to the COVID-19 pandemic when Q2 GDP plummeted at a 31.4% annualized rate, following a Q1 decline of 5%. Consumer spending plunged 33% during the second quarter.1 Except for government spending, other economic sectors shrank drastically as well.

By Washington Trust / July 20, 2020
The U.S. is suffering its worst economic downturn since the Great Depression with GDP estimated to have plunged at an annualized pace in excess of 30% in the most recent quarter after a 5% drop in Q1. The velocity of the decline is as stunning as its magnitude. This recession was, of course, self-imposed as much of the economy was shutdown beginning in March to halt the spread of COVID-19.

By Matthew S. Blank, CFA® / April 20, 2020
Economic forecasts for 2020 have been upended as public health concerns prompted the shutdown of large parts of the U.S. economy in order to prevent rapid transmission of COVID-19. 2019 had concluded on a very healthy note as GDP grew at a 2.1% pace in the final quarter and 2.3% for the year.1 A continuation of moderate growth seemed probable in 2020. If you recall, January and February economic data were solid, characterized by strong employment and a robust housing sector.

The opinions expressed in this blog are those of the author and may not reflect those of Washington Trust Wealth Management. The information in this report has been obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. Any opinions expressed herein are subject to change at any time without notice. Any person relying upon this information shall be solely responsible for the consequences of such reliance. Performance is historical and does not guarantee future results.

Such information does not constitute legal or professional advice as all situations are unique and are based on individual facts and circumstances.

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