As the number of confirmed Coronavirus cases nears 2.4 million in the United States, the virus has extracted a heavy toll in terms of deaths, hospitalizations, job loss and economic malaise. As devastating as Covid-19 has been the past four months in terms of loss of human life and economic conditions, it may be minor in comparison to the potential…
The widespread economic uncertainty caused by the coronavirus (COVID-19) pandemic has taken a crippling toll on national and local economies alike. As businesses and employers around the country wrestle with the fallout of closures, layoffs and furloughs the Coronavirus Aid, Relief and Economic Security Act, better known as the CARES Act, was signed into law on March 27th, 2020 to…
2020 began with the promise of continued strong economic and financial performance and a hint of uncertainty surrounding the November Presidential election. The nation’s unemployment rate was near sixty-year lows, and labor force participation rates were near sixty-year highs. The longest bull market in U.S. history was still running, despite concerns by some investors and analysts that it was getting…
We have known for some time now that Social Security’s long-term health is in question, and that the program is in serious need of financial reform to remain a viable source of income for retirees. A new independent report indicates that the problem may be worse than has been reported by Social Security trustees. Conducted by the University of Pennsylvania’s…
The 2017 Tax Cuts and Jobs Act is growing in popularity according to recent polls. Presumably, the increase in popularity is the result of millions of taxpayers seeing an increase in their February paychecks. Fatter wallets and bank accounts are not the only changes resulting from the tax reform. Let us look at some of the other changes that might…
While we continue to wait for Congress to act on tax reform, two pieces of next year’s financial planning puzzle have recently been revealed for retirees. In October, the Social Security Administration announced that 61 million Americans will receive a 2.0% increase in their monthly Social Security benefits beginning in January of 2018. The 2 percent increase in monthly income…
Spring is my favorite season of the year. I suspect many of you feel the same way based on the amount of outdoor activity I have observed in recent days. For me, spring means the start of the Major League Baseball season, hours of therapeutic and relaxing lawn care and landscaping activities, and the opportunity to watch my daughter Erin…
Donald Trump’s improbable victory in early November’s presidential election caught many people by surprise. A Hillary Clinton victory looked almost certain if you believed most election polls and media outlets in the days leading up to the election, but as Tuesday night progressed a different story emerged. As a Donald Trump presidency became more likely, a brief overnight market panic…
While the 2016 Presidential election has captured most of our nation’s attention this year, you may have missed the end of an era in professional baseball. At the end of the 2016 Major League Baseball season, Vin Scully quietly and gracefully stepped away from the Los Angeles Dodgers’ broadcast booth, ending an historic 67-year hall of fame career in broadcasting. …
In early April a major milestone was reached in the investment advice industry. On April 6th, 2016 the Department of Labor revealed its new fiduciary duty rule that requires financial advisors to act in their clients’ best interest when making investment recommendations on retirement accounts. The new fiduciary duty rule reflects efforts that were first proposed six years ago. It…
