Posts Tagged ‘Investing’
The Jobs Recovery: More Work to Be Done
In April 2020, the U.S. economy lost an astonishing 20.8 million jobs, by far the largest loss recorded in a single month dating back to 1939. To put this in perspective, the second largest monthly job loss was about 2 million in September 1945, when defense industries reduced production at the end of World War…
Read MoreThe Bull Is Back… Will It Keep Charging?
On August 18, 2020, the S&P 500 set a record high for the first time since COVID-19 ushered in a bear market on February 19. The cycle from peak to peak was just 126 trading days, the fastest recovery in the history of the index, erasing losses from an equally historic plunge of almost 34%…
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 MoreWorking with a Financial Professional: Your Interests Come First
In these uncertain times, the value of objective financial guidance cannot be overestimated, and the importance of the financial profession has never been more apparent. Regulatory changes initiated well before any of us had even heard the phrase “social distancing” are now in effect, establishing a new landscape that governs the relationship between those who…
Read MoreForm CRS: Helping You Understand the Financial Professional Relationship
Have you received what’s known as “Form CRS” from your broker-dealer and/or registered investment advisor? If not, then sometime in July 2020, you likely will. A new requirement by the Securities and Exchange Commission (SEC), the form is designed to help you clearly understand the nature and cost of services you receive from your financial…
Read MoreQ2 2020 – Second Quarter Stock Market Commentary
There is an old saying on Wall Street, “The stock market is not the economy and the economy is not the stock market.” We all got a little taste of that this past quarter when we saw a negative -4.8% GDP in the first quarter and predictions of negative -30% to -50% GDP for the second quarter. We saw record…
Read MoreU.S. Government Sends Millions of Economic Impact Payments by Prepaid Debit Card
In May 2020, the IRS sent Economic Impact Payment (EIP) prepaid VISA debit cards to individuals who qualified for a stimulus payment under the Coronavirus Aid, Relief, and Economic Security (CARES) Act and didn’t receive a payment via direct deposit. How is the card activated? The Economic Impact Payment Card (EIP Card) arrives in a…
Read More2019 IRA Contribution Deadline Has Been Extended
Due to the coronavirus tax filing extension, there’s still time to make a regular IRA contribution for 2019. You have until your tax return due date (not including extensions) to contribute up to $6,000 for 2019 ($7,000 if you were age 50 or older on December 31, 2019). For most taxpayers, the contribution deadline for…
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…
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