5 Ways Financial Planning Can Help
Most of us know we should save money. But when it comes to actually doing it, people tend to fall into two camps: non-planners and planners. Non-planners typically save when they can, perhaps putting a small amount into a workplace retirement plan, hoping that everything will work out in the long run. Planners generally know […]
Saving for College
There’s no denying the benefits of a college education: the ability to compete in today’s job market, increased earning power, and expanded horizons. But these advantages come at a price. And yet, year after year, thousands of students graduate from college. So, how do they do it? Many families finance a college education with help […]
Plan Sponsors: Coronavirus Relief Measures
In March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which included several provisions designed to help retirement savers cope with the financial fallout from the pandemic. Among these temporary measures were special rules for required minimum distributions, coronavirus-related distributions, and retirement plan loans. In late June, the IRS released Notices […]
2020 Mid-Year Outlook: Moving at Warp Speed
There is nothing normal about the nature of this cycle. We have never seen a health crisis morph into an economic crisis by virtue of a government-mandated full-stop shutdown. The S&P 500® index dropped 34% from February 19th to March 23rd – and then rebounded almost as swiftly. In keeping with the high-speed nature of […]
Social Security and Medicare Face Financial Challenges
Most Americans will eventually receive Social Security and Medicare benefits. Each year, the Trustees of the Social Security and Medicare Trust Funds release lengthy reports to Congress that assess the health of these important programs. The newest reports, released on April 22, 2020, discuss the current financial condition and ongoing financial challenges that both programs […]
Think Twice Before Speculating on a COVID-19 Cure
As hundreds of companies race to develop vaccines and drug therapies that could help end the COVID-19 pandemic, news reports on successful or failed trials affect individual stock prices and can trigger swings in the broader market.1 Understandably, this highly contagious virus — and its severe economic repercussions — has a knack for stirring up […]
Update on SECURE and CARES Act
We wanted to share two recent bills that have been passed by Congress and what it means for your finances. The Setting Every Community Up for Retirement Enhancement Act (SECURE) Act This was signed into law in December. Here are some of the highlights: Extended Required Minimum Distribution (RMD) age: Age at which employees must […]
Staying the course amid market volatility
Financial markets have been roiled recently amid fears over the impact of the fast-spreading coronavirus. These near-term disruptions to economic activity are the result of efforts to contain it. We see a downshift in 2020 global growth, with uncertainty around the size and pace of slowdown. While there are always unplanned risks, we do expect […]