Things are changing in Washington. First, Joseph R. Biden, Jr. has become President of the United States, after a bitter election and a tense aftermath. Then, there is the shift in Congress, where the Democrats hold a slim edge in the House of Representatives, and following victories in the Georgia runoffs, narrow control of the Senate.
If you have a child graduating from high school or college and entering the workforce, they may have the opportunity to open up a 401(k) through their new employer. In some cases, that employer will also offer matching contribution funds up to a certain percentage.
2020 was a year for the history books! To recap, after a dreary 2018, in which an already extended stock market (burdened as well by greater monetary restraint on the part of the Federal Reserve), saw some entirely reasonable profit taking, equities took off in 2019. In all, they soared to record highs and promised more of the same in 2020.
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.
The economy is likely to weaken further as 2021 begins. Specifically, GDP growth, which could slow to 3%-5% in the now-ending period, might then ease to 1%-3%—or less—in next year’s initial quarter. And even that listless showing assumes a COVID- 19 relief package will pass the Congress.
Paying fees for professional investment management is something we’d all like to avoid. Why pay for some guy in a suit to manage your investments when you can do-it-yourself with a simple online brokerage account? There are many reasons to trust a professional - read on to find out whether it’s worth it to go with the pros.
Active vs. Passive
The IRS announced Monday that most qualifying taxpayers will receive recovery rebate payments enacted by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136, automatically within the next three weeks without having to take any action (IR-2020-61).
Small businesses and sole proprietorships affected by the coronavirus pandemic can apply for loans under the federal Paycheck Protection Program (PPP) beginning Friday.
Starting April 10, independent contractors and self-employed individuals can apply.
Investors have a lot to ponder as the year begins to wind down:
As of December 2018, more than 43.7 million retired Americans collected Social Security, with more than 8 million disabled workers collecting benefits as well. But Social Security is much more than retirement income. Along with providing a small income to millions of seniors, Social Security also provides life insurance as well as survivor benefits.
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