March 2023 marked a historic month for U.S. banking. Two major banks, the Silicon Valley Bank and Signature Bank, closed within a couple days of each other, marking the second and third largest bank failures in U.S. history. (The top spot belongs to the 2008 Lehman Brothers collapse.) The markets responded erratically to these collapses, and are still very up and down. During this time, the Fed Continue Reading
Secure Act 2.0: What You Need to Know
The Secure Act 2.0, which brings several changes to the retirement system, is now law. Whether you’re decades from retirement or quickly approaching it, some of these changes will likely impact you and your financial plan. Here is a quick overview of the law, and the top points you should know about. Secure Act 2.0: Student Loan and Roth Account Matching Employers will be able to match Continue Reading
2022 Inflation and End-of-Year Prep
September is here, which means it’s time again to start thinking about end-of-the-year expenses, savings and to-dos. But this year, things are a little different. Due to high levels of inflation, market turbulence and global issues, your year-end checklist might require some additional prep and planning. 2022 Fall and Winter Travel Prep Higher costs of fuel, personnel shortages and overall Continue Reading
How Do Stocks Perform During Down Times?
As we continue to deal with record-high inflation and economic instability, you might be wondering how you should manage your investments. It can feel disheartening to check on your portfolio and see poor returns, but don’t panic; we’ll cover why it’s better to weather the turbulent times to get the long-term rewards. Historically speaking, stocks have done well over time, even during periods of Continue Reading
Financial Adjustments to Hedge Against Inflation
The U.S. inflation rate came in at 8.6% at the end of May, which was the largest annual increase since December 1981. Unfortunately, high prices won’t disappear overnight. Inflation comes down slowly, usually after a period of monetary policy changes by the Federal Reserve. That’s why we’ve seen gradual interest rate increases this year. The hope is that they will mitigate the rapid inflation, and Continue Reading
2022 Finances: What to Expect This Year
After two years of the pandemic, we are seeing the short- and long-term effects it’s had on the economy. Based on how 2021 went, the year ahead will have its own set of challenges. Here are some potential obstacles to watch in 2022, and how to navigate them: 2022 Finances and Inflation Inflation made headlines in 2021, and it will continue in 2022. Prices rose seven percent in December of 2021, Continue Reading
What the New Stimulus Package Means for Business Owners
With just days left of 2020, another stimulus package is on its way as part of the omnibus spending package. The document is over 5,000 pages long - you can check it out here for some light reading. Here are some of the ways it could impact business owners: Deducting expenses with the Payment Protection Program For business owners who received the Payment Protection Program loan, there was some Continue Reading
5 Financial Skills You Should Have in 2020
2020 has thrown most people - and their finances - for a loop. This year that has really emphasized why we put financial safeguards in place, and what can happen if we don’t. But the year’s not over yet. There is still time to finish out 2020 strong, prepared for whatever next year has in store. Here are five financial skills to brush up on right now: Financial Skills for 2020: Saving like a Continue Reading
Managing Investments During a Financial Crisis
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
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