A well-balanced portfolio can withstand a financial crisis and still end up strong in the end. A healthy portfolio accounts for things like recessions and upswings. That’s why you include stocks for growth and bonds for stability. There are many ways to handle market volatility without damaging your portfolio. But what about now? In the midst of the coronavirus crisis, we are dealing with a ton Continue Reading
3 Ways to Adjust Your Financial Plan During the Pandemic
What goals did you set for your financial plan when 2020 started? Maybe you were going to max out your retirement accounts, contribute a certain amount each month to your kids’ 529 plans or pay off student loan debt. One thing is certain in financial planning: There will always be changes. At some point, plans will change, emergencies will happen, markets will drop. So whatever you had in mind Continue Reading
The CARES Act: Should You Apply for Small Business Aid?
Congress’s Coronavirus Aid, Relief, and Economic Security (CARES) Act aims to help Americans weather the financial storm caused by the virus. The first round of financing ran out quickly, but Congress has passed another round. Some of the highlights of the CARES act include: Money for individuals: Tax-paying Americans will receive a direct deposit for up to $1,200 if single, and $2,400 if Continue Reading
Steps to Take if You’ve Suffered a Financial Blow
If you've suffered a financial blow recently, you're not alone. There is a lot of upheaval going on in the world right now. Many people are finding themselves out of a job, or unable to work right now, or unsure whether they will have a source of income after things have settled down. Here are some steps you can take to safeguard your money: DO: Apply for Unemployment If you did lose your job, Continue Reading
Coronavirus: Dealing with Financial Uncertainty
The novel coronavirus - which has infected more than 170,000 people worldwide and is responsible for more than 6,500 deaths - is spreading around the globe. Now that it has made its way to the U.S., many people are preparing for a potential disruption to everyday life. You know the usual: wash your hands frequently, stay away from others who are sick, avoid traveling to infected areas. But how Continue Reading
Filing Your 2019 Taxes: Reminders and Limits
Ready to file your 2019 taxes? (Or not?) Don’t stress: Here is my roundup guide to help the filing process be a little less painful: Know Your Limits Do you know where you fell last year on the tax brackets? If not, you can find the 7 brackets here via the IRS website. Here are some other limits you might need to know: The 2019 standard deduction is $24,400 for married filing jointly, Continue Reading
How to Responsibly Give Money to Family
Helping your family members out financially can be treacherous ground if you don’t navigate it properly. There is plenty of opportunity for resentment and guilt to grow, but it could also be an act of love and assistance that will leave both parties feeling appreciated. Whether you’re helping your parents cover medical bills or giving your recently graduated sibling some money to get started, Continue Reading
2020: Financial Goals for a New Decade
The twenties are back! And with them comes a chance to look at the upcoming decade and map out some long-term financial goals. What will your life look like 10 years from now? Where do you hope to be by 2030? The start of a new decade is an excellent opportunity to look not only at the upcoming year, but also at your long-term goals and what you hope to accomplish over the coming decade. One of Continue Reading
Should You Refinance Your Mortgage?
When interest rates are competitive, it could be a good time to refinance your mortgage. This is especially true if rates were a bit high when you first purchased your home. But there are some caveats to think about before committing to a mortgage refinance, so plan carefully. Why Refinance? Maybe you bought your house when interest rates were higher, or your credit is much stronger today Continue Reading
Smart Ways to Give Money Gifts
The holiday shopping season is in full swing! One gift that pretty much everyone on your list is guaranteed to appreciate is money. But if you want to put in more effort than just stuffing a couple of bills in a card, I have some ideas to help you jazz up your money gifts this year. Here are my top picks for money gifts that your friends and family will love: Money Gifts for the Kids An Continue Reading
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