Category: Blog Posts

How Millionaires Invest During a Market Downturn

Major stock market indices have staged an impressive comeback since plunging into bear market territory in March when the severity of the coronavirus pandemic became apparent. However, the Dow Jones Industrial Average and the S&P 500 remain in the red for the year and the uncertainty of the pandemic would seem to indicate that more […]

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Factors to Consider If You’re Offered an Early Retirement Package

As the coronavirus pandemic continues taking a toll on the finances of many U.S. corporations, some are looking to lower costs and future pension obligations by offering some employees an early retirement package. These packages usually include an option to receive a one-time, lump-sum payout of pension benefits or monthly pension payments over a period […]

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Coronavirus and Your Credit Score: What You Need to Know

After tens of millions of jobs were shed during the first couple of months of the coronavirus pandemic, hiring has picked up considerably the past two months. A total of 7.5 million new jobs were added to the U.S. economy in May and June. However, new applications for unemployment benefits remain near a historically high […]

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The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Impact on Required Minimum Distributions (RMDs), Including Additional Recently-Issued IRS Guidance

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on March 27. One specific item in this Act was the suspension of all Required Minimum Distributions (RMDs) for 2020. As this Act was originally written, those who had distributed retirement plan or IRA assets between February 1st and May 15th […]

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What Should You Do If Your Employer Has Suspended Your 401k Match?

With the social distancing and shelter-in-place orders issued to combat the coronavirus pandemic taking a toll on their revenue and profits, many companies today are scaling back their matches to employees’ 401(k) plans.  This is similar to what happened during the financial crisis and Great Recession a decade ago when more than 200 U.S. companies […]

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Have the Coronavirus Lockdowns Got You Thinking About Early Retirement?

When the coronavirus lockdowns started back in March, many employees who were able to perform their job duties from home were instructed to do so. For some, this has opened their eyes to what retirement or semi-retirement might look like — and many of them like what they see. For example, not having to commute […]

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Watch Out for Unemployment Benefits Fraud

More than 40 million Americans have filed claims for unemployment benefits since the coronavirus pandemic began a few months ago. Unfortunately, it appears that some of these claims have been fraudulent. The FTC recently warned of what it called a “large-scale scam erupting in the midst of the coronavirus pandemic” in which identity thieves file […]

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The CARES Act and RMDs — What You Need to Know

The Coronavirus Aid, Relief and Economic Security Act (CARES) Act that was signed into law in late March contains a number of beneficial provisions designed to lessen the economic damage caused by the coronavirus pandemic.  One provision that hasn’t gotten as much attention as some of the others is the suspension of required minimum distributions […]

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How to Avoid Tax Consequences from College Refunds

One of the unfortunate consequences of the coronavirus pandemic was the cancellation of classes halfway through the spring semester at many colleges and universities. Many of them are now refunding a portion of students’ tuition, fees, and room and board as a result of these cancellations.  If you have received one of these refunds, you […]

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Watch Out for These 5 Coronavirus Scams

Times of crisis tend to bring out both the best and the worst in people, and the coronavirus crisis is no exception. While we’ve seen many examples of neighbors helping neighbors and even strangers helping strangers, unfortunately there has also been a sharp rise in scams designed to take advantage of the fear and uncertainty […]

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