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AUTHORS: Jennifer Climo Jean Fullerton Jonathan Harrington Nick Prigitano Jenna-Rose Finnie Kyle Labelle

The Stock Market Jumped in April - What Does That Mean?

If you're like many Americans, the stock market has been the least of your concerns recently. Between a global pandemic and extreme economic uncertainty, there are much more important matters to be concerned with. In fact, many of you are likely avoiding looking at your investment statements because the decline (which isn't a bad idea). For those who have been watching the stock market, you may have noticed that stocks increased fairly substantially in April, with the S&P 500 up over 14%. But what exactly does this mean? Are we out of the woods, at least financially? Should you alter your investment strategy? These are important questions many investors are asking right now.

Is Government Stimulus Heading Your Way? - What You Need to Know About the CARES Act

April 3, 2020 Taxes Retirement Working Professionals Families

Last week the Federal government passed a massive $2 Trillion (yes with a T) stimulus bill in response to COVID-19 and its impact on individuals and businesses alike. Many financial stimulus measures were taken in the bill. Here are some of the key details that you should know about.

Financial Planning Considerations During COVID-19

March 26, 2020 Taxes Social Security Retirement Working Professionals Families Estate Planning Cash Management Investments

Health and finances are likely the only two topics on most people's minds these days. How can you keep yourself and your loved ones safe and healthy through this pandemic? And what should you do with your investments during this recent market drop? Managing your investments prudently and resisting the urge to sell stocks while the market is down are certainly important financial planning considerations. However, as financial advisors, we wanted to highlight other crucial financial planning areas that often don't get as much attention in the news media.

What You Need to Know About Risk That You Aren't Hearing

March 12, 2020 Retirement Working Professionals Cash Management Investments

If you've been watching the news recently most of the information about the stock market has been dismal. You've probably read headlines that scream intense verbiage like "Stocks Collapse!", "Stocks Get Punished!", "Stocks in Free-Fall!" or something of the like. You've probably heard financial jargon thrown around such as "bear market", "volatility" or "recession" as well. Your retirement account has almost certainly lost value and with all this negative news and you may be worried and considering selling your investments too. Before you pull the trigger. . .STOP.

Why 2020 May Make a Great Environment For Roth Conversions

March 6, 2020 Taxes Retirement Working Professionals Investments

If you've watched the stock market at all over the past couple weeks there have been some relatively large movements, both up and down. Much of this has to do with the uncertainty of the global economy. Some stock analysts are even going as far as predicting no earnings growth for 2020.1 As financial advisors we are not in the business of predicting where the stock market will go in the short-term, and encourage our clients to focus on the things that they can control. That's why last week we wrote a post about what you can do to prepare for disasters, and why NOT to panic about the recent stock market volatility. We believe financial planning should be focused on the long-term.

Coronavirus in the News

February 28, 2020 Retirement Working Professionals Families Investments

It’s hard to turn on the news and not see something related to coronavirus. More and more new cases are being confirmed every day in an increasing number of countries, including the US. Beyond people getting infected, the worries on coronavirus’ impact on global trade is starting to rattle financial markets as well. With all this concern, is now the time to make changes to your portfolio? We’ll cut to the chase and answer that with a resounding NO! However, because this isn’t necessarily something to brush off, you should be informed and there are things you can do to protect you and your family.

Medicare Mishaps - Don't be Late or Face Stiff Penalties!

February 13, 2020 Retirement Insurance

Some of the scariest things about enrolling in Medicare is that it's incredibly complex; you may only have one chance to make decisions for life; and it can be extremely costly if you make a mistake. It's no surprise many retirees are left wondering what decisions they should make when the Medicare enrollment paperwork arrives in the mail. To make things more complex, if you're still working or are in an unmarried relationship there are more special rules that may apply to you.

Who is Moore and Why His Law Means More Than Most Realize

February 7, 2020 Retirement Working Professionals Families

Does it seem like technology continually advances at a breakneck pace? What was once novel and revolutionary one day (remember music CDs?) becomes outdated and archaic the next (when was the last time you listened to a CD?). Does it also appear that newer, more powerful technology is more affordable than ever before? TVs, Laptops, and even Echo Dots continue to increase their functionality, utility, and processing power at ever more affordable prices. If this is something you've witnessed it's not an illusion and you're not dreaming. It is a well-documented phenomenon called Moore's Law and this discovery explains much of the rapid advancement of technology we've all seen.

SECURE Act Signed Into Law- What This Might Mean For You

December 20, 2019 Taxes Retirement Working Professionals Estate Planning

After much deliberation in Congress, the SECURE Act has made its way through and is likely to be signed into law this week. For those who missed it, we wrote a post back in June about the proposed changes to the retirement saving landscape. Now that the law has been finalized, we wanted to highlight some of the key changes and how it might impact you and your retirement savings.

Are Social Security Benefits Tax-Free? - Not Exactly

December 13, 2019 Taxes Social Security Retirement

It's a common misconception to believe that Social Security benefits are tax-free. While that is the case for some people, for many Americans, some or even most of their Social Security income will be taxable. When does Social Security become taxable? Read further to find out.

What Gives? - Why Charitable Giving Is Down and How You Can Maximize Your Donations

November 22, 2019 Taxes Retirement

Americans are known for being some of the most generous people on Earth. In fact, according to the CAF World Giving Index, the US was the most charitable nation over the past decade.  Since the stock market is near record highs, unemployment is low, and the US economy continues to grow; it would be expected for the giving trend to continue. However, at first blush this may not be the case

Retirement Savers Rejoice - Contribution Limits Increase For Many Retirement Accounts

November 15, 2019 Retirement Working Professionals Investments

As financial advisors we are always encouraging our clients to save more for retirement. We find that it's often best to set up the savings to come directly out of your paycheck so it's out of sight, out of mind. That's why we're so excited that contribution limits are increasing for many retirement savings plans in 2020. 