While Many Suffer Financially, Some Manage to Profit off Pandemic
The Federal Reserve recently reported that the 50 richest people in the United States increased their net worth by $339 billion during the first half of 2020. There are two primary contributors to this near unprecedented level of…
What To Know About Filing For Bankruptcy
About one million Americans file for personal bankruptcy each year, with one in 10 households having filed at some point. Given the loss of jobs, reduced income and the coronavirus recession in 2020, those…
Last Minute Financial Moves for Year’s End
There are certain year-end financial transactions that must clear by Dec. 31 to be reported on the 2020 tax return. It’s important to take a good look at your financial portfolio in light of the plethora…
A Realistic Picture: Will You Be Able to Afford In-Home Elder Care?
By the end of September, the nation had recorded over a quarter million cases of COVID-19 and nearly 60,000 deaths in nursing homes that were attributed to the disease. The recent pandemic offers yet another reason why more than…
Long-Term Financial Impact of COVID-19
As bad as the economy is right now due to the COVID outbreak in the United States, many economists are predicting that the long-term outlook is much bleaker. Alas, Congress and the Federal Reserve’s efforts at…
Tips for Retiring in the Next 10 Years
The stock market continues to perform with relative resilience, despite the current economic decline. But to be clear, without 100 percent participation in the economy – in terms of small business job…
Borrowing From Your Retirement Plan: New CARES Act Rules
It’s been nearly half a year since Americans first became widely aware of the coronavirus contagion within the United States. While for a brief month it looked as if we had the virus in hand, since…
How To Use Qualified Charitable Distributions For Charitable Giving
Each year, millions of Americans make donations to charitable organizations and receive something in return – a tax break. However, the 2017 Tax Cuts and Jobs Act curbed this tax advantage because it reduced the…
Why Sequence of Returns Risk Matters Now
That year or two when you are closing in on your retirement date, followed by a year or two after you retire, are the worst times for a sustained market decline. Market analysts call this scenario the sequence of…
Prospects for Investing in the 2020s
The third decade of the 21st century started out with a vigorous economy, record low unemployment levels and benign inflation. But late in the first quarter over the span…