The CARES Act permitted the suspension of Required Minimum Distributions (RMD) for 2020. This was great news for those who do not rely on the income from their RMD as it presents an income tax savings opportunity. But what about the people who took out their distribution at the beginning of the year or those […]
Last week we covered the extension of the IRA contribution deadline in our blog post. As we continue to approach July 15th, today we thought we would share the below article from Fidelity reviewing some commonly overlooked IRA saving strategies. While everyone has individual circumstances, we are here to help see how these can fit […]
Due to the coronavirus pandemic, the due date for making contributions to an IRA for the 2019 tax year has been pushed back from April 15 to July 15, 2020. Good news for retirement savers: The maximum amount that can be contributed to a traditional IRA increased by $500 for 2019. It’s the first […]
Ask your advisor about the benefits of 529 college savings plans May 29th marks the nationwide celebration of 529 Day, an opportunity to highlight the many benefits of 529 college savings plans. As higher education costs continue to soar, many parents find themselves faced with the nagging question, “Will I have enough money to pay […]
Sustained market volatility can begin to disguise itself as a problem with a binary solution – up or down. This makes the buy/sell decision difficult because it seems far more important to get the timing right compared with less volatile times. The article below from FMeX highlights just how difficult it is to time these […]
As a complement to our post Why You Should CARE About the CARES Act from April 1st, we wanted to focus today on a few of the specific changes related to retirement plans. Some of these changes allow those who don’t need additional funds to delay required distributions, while other changes focus on providing those […]
We know no one wants to see their portfolios go down in value, but we need to remind ourselves that declines are normal – they are part of the business cycle. The challenge is how will you react when those declines occur? The natural instinct is often to react emotionally, but by having a plan […]
Do any of these apply to YOU? You have a retirement account You give to charity You pay taxes You find yourself in the midst of a global pandemic You are subject to the jurisdiction of laws passed by the United States of America If you answered “yes” to any of the above questions, then […]
Although Coronavirus is not as lethal as past epidemics, efforts to contain the virus will inevitably have impacts on financial markets. This article compares the current COVID-19 outbreak with the 2003 SARS virus and how China’s impact on the global economy has changed over that same period. The coronavirus epidemic: Implications for markets – MSCI […]
Having an emergency fund is critical to anyone’s financial plan. Unexpected events can be stressful and costly. When life throws you a curve ball such as job loss, unexpected home repairs, car troubles, your emergency fund is there to help! It keeps your stress level down and avoids making bad financial decisions. Read why keeping […]
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