Bear Markets Come and Go
The longest bull market in history lasted almost 11 years before coronavirus fears and the realities of a seriously disrupted U.S. economy brought it to an end.
If you are losing sleep over volatility driven by a cascade of disheartening news, it may help to remember that the stock market is historically cyclical. There have been 10 bear markets (prior to this one) since 1950, and the market has recovered...more
As a successful business owner, you don't want to think about your operations being interrupted by a natural disaster or other unexpected event. Yet the possibility is a real one.
Natural catastrophes represent just a portion of the crises that your business could face. Although you may not be located in an area prone to hurricanes, blizzards, tornadoes, floods, earthquakes, mudslides, or wildfires, you still need to consider the...more
On March 20, 2020, the Department of Education announced terms for student loan relief for tens of millions of borrowers in response to COVID-19. 1 Here are answers to some questions about the new rules. For more information and to follow subsequent potential rule modifications, visit the...more
Each year for its Retirement Confidence Survey, the Employee Benefit Research Institute (EBRI) surveys 1,000 workers and 1,000 retirees to assess how confident they are in their ability to afford a comfortable retirement. Once again, in 2019, retirees expressed stronger confidence than workers: 82% of retirees reported feeling "very" or "somewhat" confident, compared with 67% of workers. A closer look at some of the survey results reveals...more
Do you want to earn some extra money doing what you enjoy on your own time? Consider pursuing a side hustle, which can be defined as any type of work undertaken in addition to a full-time job. Generally, side hustles are freelance or piecework in nature. Depending on how much time and energy you put into a side hustle, you could earn a significant supplemental income. Think about your side hustle options Do you have any hobbies or special...more
Just because your child has financial need doesn't automatically mean that colleges will meet 100% of it.
Each year, the College Board releases its annual Trends in College Pricing report that highlights current college costs and trends. While costs can vary significantly depending on the region and college, the College Board publishes average cost figures, which are based on a survey of nearly 4,000 colleges across the...more
As a business owner, what should I know before adding a financial wellness program?
Financial wellness programs are gaining traction among employee benefit offerings, and for good reason: In an International Foundation of Employee Benefit Plans (IFEBP) survey, 96% of employers said employees' personal financial issues had an impact on their overall job performance. If you're thinking of adding a financial wellness program to your...more
It’s August. A time families are preparing to send a child to college and/or families are gearing up to help their high school student begin looking for colleges to begin the application process. College costs can be staggering.
You and your children should understand the aspects of the price tag for college
If you’re the parent of a high school student who’s looking ahead to college, it’s important to have a grown-up...more
Summer allows for many activities outside of your normal routines. You can work less, head for the beach or mountains and possibly consider renting your home. Or you may be a small business owner that requires more workforce during the summer, so you hire temporary employees. Both of these out out of norm activities may have income tax implications.
HOME RENTALSAn often asked question is – If I rent my home out for two weeks each year....more
If you have the opportunity to contribute to both a 401(k) and a health savings account (HSA), you may wonder how best to take advantage of them. Determining how much to contribute to each type of plan will require some careful thought and strategic planning.
Understand the tax benefits
A traditional, non-Roth 401(k) allows you to save for retirement on a pre-tax basis, which means the money is deducted from your paycheck before...more
The SECURE Act and Your Retirement Savings
The Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted in December 2019 as part of a larger federal spending package. This long-awaited legislation expands savings opportunities for workers and includes new requirements and incentives for employers that provide retirement benefits. At the same time, it restricts a popular estate planning strategy for individuals with...more
As of February 26, 2020, the death toll from COVID-19 — the official name of the coronavirus first reported in Wuhan, China — passed 2,700, while the number of confirmed cases exceeded 80,000. Almost all were in China, most of them in Wuhan and the surrounding Hubei province. But more than 2,500 cases, including 46 deaths, had been reported in almost 40 other countries. A surge of cases and deaths in South Korea, Italy, and Iran caused new...more
During the last week of February 2020, the S&P 500 lost 11.49% — the worst week for stocks since the 2008 financial crisis — only to jump by 4.6% on the first Monday in March.1 By all accounts, the drop was largely driven by ever-increasing fears about the potential effects of the coronavirus (COVID-19) and its ultimate impact on the global economy. Although many market observers contend that the market was overvalued and due for a...more
If you've been watching the market lately, perhaps the first question on your mind is, "Should I make a big change in my investments?" In reality, a volatile market isn't the best time to do a complete makeover of your portfolio, especially if you have long-term financial goals you're trying to address. Even if you feel that your portfolio needs adjusting, maintaining a firm grasp on your fundamental investment strategy can help you be more...more
On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. This $2 trillion emergency relief package is intended to assist individuals and businesses during the ongoing coronavirus pandemic and accompanying economic crisis. Major relief provisions are summarized here.
The legislation provides for:
- An additional $600 weekly benefit to those...
Do you find yourself glued to the daily news reports on market movements wondering about your own savings and investments? Before you make any hasty decisions, be sure you understand how these reports relate — or don't relate — to your individual portfolio.
The variance in the returns of different portfolios is largely attributable to their asset allocations. If you have a well-diversified portfolio that includes multiple asset classes...more