Retirement
Mid-Year Is a Good Time for a Financial Checkup
The first half of 2021 is behind us. As life emerges from the pandemic to a “new normal,” a mid-year financial checkup may be more important than ever this year. Here are some ways to make sure that your financial situation is continuing on the right path. Reassess your financial goals At the beginning of…
Read MoreIRA and Retirement Plan Limits for 2021
Many IRA and retirement plan limits are indexed for inflation each year. While some of the limits remain unchanged for 2021, other key numbers have increased. IRA contribution limits The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2021 is $6,000 (or 100% of your earned income, if less),…
Read MoreIRS Clarifies COVID-19 Relief Measures for Retirement Savers
The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed in March 2020 ushered in several measures designed to help IRA and retirement plan account holders cope with the financial fallout from the virus. The rules were a welcome relief to many people but left questions about the details unanswered. In late June, the IRS…
Read MoreUpdated: CARES Act Provides Relief to Individuals and Businesses
As more information has become available over the last few weeks, we want to provide an update regarding the CARES Act to help clarify any questions you may have about this relief package and how it impacts you. There is likely to be a steady stream of guidance forthcoming with details relating to many of these provisions,…
Read MoreCARES Act Provides Relief to Individuals and Businesses
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. Unemployment provisions The legislation provides for: An additional $600…
Read More2020 First Quarter (Q1) Market Commentary
Most economic slowdowns occur over time with a slow deterioration of Employment, Consumer Confidence, and Gross Domestic Product (GDP). Companies generally tighten their belts and the Fed and Government make monetary and fiscal policy changes to help soften the blow and eventually we come back slowly. It’s called the business cycle. We have been going…
Read MoreClient Alert: Coronavirus and Market Conditions – A Note from Tom & Tim
Over the weekend, oil prices dropped by about 20-30% as Saudi Arabia slashed its export oil price likely starting a price war with Russia. This spooked the markets which were already on edge with the spread of the Coronavirus. As a result, we saw the stock market drop 7% at the open this morning and the…
Read MoreWhat do I need to know about the new RMD rules?
When do the new RMD Rules start? Do I need to take my RMD if I turned 70 1/2 before 12/31/2019? Do I need to take my RMD if I turned 70 1/2 on or after 1/1/2020 but already took my RMD in 2019? When do I need to take my RMD under the new…
Read More2019 Q4 Market Commentary
One year ago, the market was convinced that our economy was headed for a recession and we began 2019 on the heels of one of the worst quarterly market returns in more than a decade. This could not have been further from the truth. Once the market figured out that a recession was not happening,…
Read MoreWhat is an Asset Allocation?
Asset allocation is a common strategy that you can use to construct an investment portfolio. Asset allocation isn’t about picking individual securities. Instead, you focus on broad categories of investments, mixing them together in the right proportion to match your financial goals, the amount of time you have to invest, and your tolerance for risk.…
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