Classic Wall Street saying. The last week has sure felt like taking an express elevator down, as the end of February brought a historic stock market sell-off, with the S&P 500 Index moving from an all-time high to a 10% correction in only six days—the quickest such move ever. Along the way, the Dow Jones Industrial Average (Dow) experienced multiple 1,000- point drops, including Thursday’s biggest one-day point drop ever, adding to fears. As the coronavirus spreads around the globe, what was once a promising start to 2020 now has the S&P 500, Dow, and Nasdaq Composite all negative year to date. (more…)
The SECURE Act passed into law in late 2019 and changed several aspects of retirement investing. These modifications included modifying the ability to stretch an Individual Retirement Account (IRA) and changing the age when IRA holders must start taking requirement minimum distributions to 72-years-old.1,2 (more…)
Managing Director, Ed Doughty, just returned from a 10-day trip serving with Wine To Water, a North Carolina based non-profit that aims to eradicate the global water crisis. He and a handful other volunteers visited and worked in several remote communities along the Amazon River in Columbia and Brazil. The main project was the construction of a 3-story water tower that will support a 5000-liter water tank connected to a water-pump pulling from a deep underground well. This water system will enable the 40 homes in the riverside community of Santa Luzia to receive water directly to their homes and to the local community school. Wine to Water has also provided a Sawyer Point-One water filter to each family so that the water piped-in from the newly constructed water system will truly provide clean water, free from any bacteria and much safer for the 100+ men, women and children of the community to utilize and consume. If you would like to learn more about Wine to Water, or would like to support them in any way, please visit their website at https://winetowater.org or simply reach out to Ed Doughty who leads the Charlotte Chapter of Wine to Water. Ed has also volunteered with WTW in Uganda, Ethiopia and the Dominican Republic.
For many people who retire, income may come from a variety of sources. Here’s a quick review of the six main sources: (more…)
Families with special needs children have a new tax-deferred savings option.
The ABLE account, also called a 529A savings account, is patterned after the popular 529 savings plan, created to help parents save for a child’s higher education. Like 529 plans, ABLE accounts are run by states rather than the federal government. These plans emerged after the passage of the Achieving a Better Life Experience (ABLE) Act in 2014.1 (more…)
Buying a home is the single largest financial commitment most people ever make. And sorting through mortgages involves a lot of critical choices. One of these is choosing between a fixed- or variable-interest-rate mortgage. (more…)
The year 1995 was an exciting one. Michael Jordan came back from retirement, digital video disks (DVDs) were invented, Netscape went public after introducing the world to the internet via its web browser, and Coolio’s “Gangsta’s Paradise” was the song of the year. It was also an exciting year for investors.
You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two? The truth is, saving for your retirement and your child or grandchild’s education at the same time can be a challenge. But take heart — you may be able … Continue reading “Saving for College and Retirement Together”
As spring approaches, the weather is starting to warm up. For the stock market, the temperature has been rising for a while now. In fact, since December 2023, the S&P 500 has not experienced a pullback of even 2%. Strong starts to years tend to signal more gains ahead, so this calm market may not … Continue reading “Market Update – Markets Warming Up”
Identity theft is a growing concern, impacting 14.4 million U.S. Consumers in 2019. Armed with your Social Security number, a criminal can use that information to commit tax- and other financial-related crimes in your name.
There is almost nothing stronger than the unconditional loving bond between grandparents and grandchildren. And for many grandparents, they recognize the importance of family legacies, the passing of the torch to the youngest generation.
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