What You Need to Know About Student Loan Debt

Student loan debt. Three words that strike fear into new graduates and parents everywhere. There are ways, however, to make the repayment of student loans more manageable.  You may be surprised to learn that Income Driven Repayment Plans (IDR Plans) and loan forgiveness opportunities were created with you in mind. The only problem? You must…

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When Must RMDs Be Taken?

Your first required distribution from an IRA or retirement plan is for the year you reach age 70½.  However, you have some flexibility as to when you actually have to take this first-year distribution. You can take it during the year you reach age 70½, or you can delay it until April 1 of the…

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Streamlined Security on Schwab Alliance & Mobile Enhancements

Schwab has streamlined the process of gaining web access to your accounts on Schwab Alliance without compromising online security.  When you enroll for web access you can now choose to verify your identity via a phone call or text message instead of answering questions about your account. Version 8.0 of the Schwab Mobile App has…

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3rd Quarter 2017 Market Commentary

The Dow Jones Industrial Average posted a gain of 4.9% during this past quarter. It was the eighth consecutive quarter with a gain. This is the first time this has happened in 20 years. During this eight quarter period, the Dow posted a gain of 37.6%. That compares to a gain of 65.9% for the…

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Data Breach at Equifax: What to Do

There is a good chance if you have a credit report that you are among the over 100 million American consumers whose social security numbers, birth dates, driver’s license numbers and addresses were compromised during the data breach at Equifax, one of the three major credit reporting agencies. According to Equifax the breach occurred from…

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Rules of an Inherited Traditional IRA

When inheriting a traditional IRA in a non-spousal relationship, you have different options based on the age of the original account holder of the traditional IRA. If the account holder was under 70 1/2 you have three options: Life Expectancy Method: annual distributions over your life expectancy based on your age in the calendar year following…

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Schwab Mobile Check Deposit

Looking for an easier way to deposit checks into your Schwab account? Charles Schwab now has Schwab Mobile Deposit. You can deposit checks wherever you are with their mobile check deposit service. You can make deposits to your eligible Schwab Bank or Schwab Brokerage and IRA accounts by simply taking pictures of your checks with…

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Making Everything Simpler & More Secure for Our Clients

Yesterday, we closed our offices so our team could attend a one-day Charles Schwab conference.  This conference offered us so much new and exciting information.  Your experience with Chesapeake Financial Advisors and with Charles Schwab will improve greatly – now – and in the coming months. Improvements have been made in several areas of client…

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Tips to Keep in Mind for Taxpayers Traveling for Charity

During the summer, some taxpayers may travel because of their involvement with a qualified charity. These traveling taxpayers may be able to lower their taxes. Here are some tax tips for taxpayers to use when deducting charity-related travel expenses: • Qualified Charities. For a taxpayer to deduct costs, they must volunteer for a qualified charity. Most…

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2Q 2017 Market Commentary

The markets continued to march higher into the 2nd quarter.  With the strong finish, it marked the eighth straight month of gains for the Dow Jones Industrial Average.  The Dow is now enjoying a rise of 8.0% for the year while the S&P 500 is up 8.2%. While those two indices have had impressive returns…

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