If you have a weak constitution you may want to turn on your favorite movie and not read this article. Now that you have been forewarned, here is what is going on and the natural effects, in my opinion.
This article is not going to be about any of the proposals coming out of Washington, the really poor jobs report on May 7th, or why the Phillies still need relief pitching after years of having the same problem. These are all small issues in comparison to the subject herein.
It’s daunting to think about the day when you may not be able to live independently and care for yourself. But planning early for long-term care can keep you from becoming overwhelmed in the event that you develop a chronic illness, disability or other condition.
If you and your spouse are making plans to retire, you’re probably wondering whether it’s a good idea to retire at the same time. Many couples go through the same thought process and, in fact, one in four couples quit their jobs within a year of each other.
More Americans are retiring earlier than you might think
Planning for retirement is without a doubt a long-term project that takes years of saving and adjusting to prepare for successfully. It certainly isn’t a fix it and forget it endeavor.
As virtually everybody was wondering what was going on with GameStop and Robinhood, and what the heck is short-selling etc., the bond market was doing what it normally does: giving us clues as to the future economic outlook. Of course, none of that bond market information is a guarantee, but we need to pay attention!
At the time of this writing, it is November 2nd and I don’t know who won the election. Are you happy or sad? Whichever you are, get over it and plan for your future. Let’s take a look at the likely policies that will be followed depending on who is in charge.
When preparing a financial plan for any client, one of our primary goals is to have enough income sources, even if there is a periodic disruption in the investment portfolio. Some fortunate clients have a pension, social security, annuities, bond interest, and/or dividends that will cover their needs.
It has been comforting to me, and I think to our clients, that during the Coronavirus crisis the Retirement and Financial Plans we worked on in prior months and years showed what their real financial position is instead of focusing on only short-term market moves. However, even well-conceived plans encounter challenges when circumstances change in an unexpected way.
On March 27, 2020 President Trump signed into law the Coronavirus Aid Relief and Economic Security Act (CARES Act). The CARES Act is a stimulus bill featuring over $2 trillion in measures designed to make a significant impact on the economy and bring relief to individuals and businesses impacted by COVID-19 or the Coronavirus pandemic.