As Wall Street pushes higher, a pandemic-weary Main Street is relearning how to manage cash flow with the hope of keeping its retirement dreams alive – and for those self-employed, this is paramount.
Self-employed Americans, and the people working for them, account for roughly 30 percent of the nation’s workforce.1
In the best of times, putting aside money for retirement was a challenge for this group. Before the pandemic, just 13 percent of people who run a single-person business set aside money in a workplace retirement plan. By comparison, 72 percent of people in large companies participate in retirement plans.2
In recent weeks, the Dow Jones Industrial Average crossed 30,000 for the first time. And this year, the Standard & Poor’s 500 index has picked up more than 10 percent through November. But some self-employed Americans are just reading about the rally, not participating.3,4
There’s no shortage of retirement plan choices and programs. But the uncertain outlook has forced many to build larger-than-normal cash reserves to help manage through any operating restrictions or shutdowns.5
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Recently, you may have seen reports that a record-low number of homes are available for sale—roughly 1.03 million nationwide. If you compare that to the average number of homes for sale during the past 10 years, it’s no surprise that many hopeful homebuyers are having issues securing a home. But why exactly is the housing … Continue reading “Forces Driving the Housing Market”
It can be exhausting trying to keep up with the whims of Wall Street. Lately, the financial markets have been fixated on federal taxes and what may be proposed on Capitol Hill in the weeks and months ahead. Wall Street’s focus on taxes closely follows its attention on the 10-year Treasury yield. And it wasn’t … Continue reading “The Whims of Wall Street”
President Joe Biden introduced the much-anticipated American Jobs Plan, which outlines an approach to spend roughly $2.2 trillion on the nation’s infrastructure and other projects. As part of the legislative process, the Biden administration also laid out a proposal for paying for the domestic investment. The plan includes raising the corporate tax rate to 28% … Continue reading “Paying for the Infrastructure Bill”
Financially, many of us associate the spring with taxes – but we should also associate December with important IRA deadlines. This year, like 2020, will see a few changes and distinctions. December 31, 2021, is the deadline to take your Required Minimum Distribution (RMD) from certain individual retirement accounts.
There’s an old Wall Street maxim that says, “markets climb a wall of worry.” And these days, there’s plenty to worry about with the trend in long-term interest rates and bonds.
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