Tag: charlotte NC

Why A Roth IRA Conversion May Now Be Advantageous

Sep 18, 2020

Thanks to a couple of factors, some investors are thinking about this move before 2020 ends.

Roth IRA Conversion decisions have attracted retirement savers since their introduction in 1998. They offer the potential for tax-free retirement income, provided Internal Revenue Service rules are followed. (more…)

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COVID-19 and Positive Market Territory

Aug 10, 2020

Market Update
Market Update

The battle versus COVID-19 continues. The spread in some of the recent hotspots like California and Florida is slowing, while states in the Northeast and Midwest are now experiencing increases in cases. According to the World Health Organization, 27 vaccines are in human trials, and the chances of an approved vaccine by late this year or early next year are quite high. By staying on the side of scientists, and through humankind’s resolve as the entire world is working together, it’s possible to believe we will beat this latest adversary. (more…)

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Corporate Executive Insider Trading to Watch for

Aug 3, 2020

Buy Sell Stocks Dice
A Look at “insider” trading

To some, the buying and selling of a company’s stock by corporate executive officers and directors can be an indicator of Wall Street sentiment.

In July 2020, the ratio of companies with executive buying compared with executive selling touched 0.27 – the lowest level in nearly 20 years.1 (more…)

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30 Year Home Loans Fall to Historic Lows

Jul 27, 2020

Mortgage Interest Rates
Investors and homebuyers take note

Lately, it can feel like each day brings a new headline about fluctuating market behavior. But amid the ups and downs of 2020, there may be some potential good news on the horizon. On July 16, 2020, the interest rate for 30-year home loans have fallen to 2.98%. In addition, the average interest rate for a 15-year home loan had declined to 2.48%.1,2,3 (more…)

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Whats Driving Current Market Behavior?

Jul 15, 2020

Want to know what economic conditions look like 6-9 months from now? Current stock market behavior may tell us.

In the era of COVID-19, and the financial woes it has created, I often get asked, “Why is the stock market holding up so well when the economy appears to be struggling?” (more…)

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Fourth of July Optimism

Jul 1, 2020

Market Update
Market Update

The Fourth of July holiday will be very different this year. Although it’s a time to enjoy family and friends, and maybe even watch some fireworks, social distancing and a new wave of COVID-19 cases also may take a seat at the picnic table. We all continue to believe our doctors and medical community will help us conquer this disease; however, with more than 10 million confirmed cases of COVID-19 around the globe (Johns Hopkins), this terrible fight is far from over. Meanwhile, the US economy appears to be turning a major corner, and better times may be ahead later in 2020. (more…)

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Market Update: Looking Forward

Jun 5, 2020

Market Update
Market Update

As we look ahead to the summer months, we can’t help but think what a challenging year it’s been so far. At the same time, we’re encouraged by the resiliency and accelerated innovation among US businesses and the efforts by our national, state, and local governments to support our communities. And we continue to be amazed by the unparalleled dedication and cooperation among our front-line healthcare professionals and medical researchers to see us through to the other side of this health crisis (more…)

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Protecting Yourself While Shopping Online

May 15, 2020

Shopping Online Computers Credit Card
What steps should you take?

We’re all at home now and shopping online has become commonplace. Whether you shop online routinely or infrequently, the risk of identity theft rises as you offer more and more information about yourself online. (more…)

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Market Update: Friday, April 3

Apr 3, 2020

Market Update
Market Update

“Every decade or so, dark clouds will fill the economic skies, and they will briefly rain gold. When downpours of that sort occur, reach for a bucket.” —Warren Buffett (more…)

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CARES Act and Coronavirus Relief

Apr 2, 2020

Law hammer gavel CARE Act Book
Here are a few ways the government is alleviating the hit to retirement accounts

From Our Partners at PAI: The CARES (Coronavirus Aid, Relief, and Economic Security) Act has been a topic of discussion for weeks as legislators discussed the best way to give Americans a much-needed boost as the economy has faltered due to the Coronavirus. Signed into law in late March, there are several provisions that will help students, workers, and retirement plan participants to maintain more financial stability during this challenging time.

 

CARES Act changes retirement plan provisions for loans and tax-advantaged withdrawals

Retirees and workers alike have likely been groaning when looking at stock values over the last several weeks. While it takes some time for market volatility to level out, these provisions included in the CARES Act may provide retirement plan participants with additional flexibility and more options for loans and penalty-free withdrawals during this stressful time.

PENALTY-FREE WITHDRAWALS FROM RETIREMENT PLANS

Workers who are experiencing financial difficulty due to the effects of COVID-19 on their careers, health, and overall financial wellness will be able to take a penalty-free distribution from a retirement account, like a 401(k) or IRA, between January 1, 2020, and December 31, 2020.

Under normal circumstances, there is a 10 percent penalty tax added to the taxes paid on distributions from a retirement plan before a participant reaches age 59 1/2. However, the CARES Act includes a provision that allows eligible participants to take up to a $100,000 distribution from a retirement account without the addition of the 10 percent tax that normally accompanies an early withdrawal. This tax-favored withdrawal may be repaid to an eligible retirement plan within three years of taking the distribution, with the option to repay beyond the normal annual contribution limits.

Eligible participants for a coronavirus-related distribution are those who have been diagnosed with the virus (or have a spouse or dependent diagnosed), experience adverse financial consequences as a result of being quarantined, unable to work, laid off, or those who had work hours reduced due to the virus.

TEMPORARILY INCREASED LIMIT ON RETIREMENT PLAN LOANS

(more…)

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More Insights

Sep 28, 2020

A U.S. drug company recently said that it’s in late-stage trials for its coronavirus vaccine and reported that it could be given to Americans as early as the end of the year.1

Sep 25, 2020

To some, this may hardly feel like an economy headed for a bright future. But don’t tell that to home builders. Builder confidence in August jumped to an eye-popping 78 in August, according to the Housing Market Index courtesy of the National Association of Home Builders. To put that number in perspective, anything over 50 … Continue reading “Home Builders Confident in Economic Rebound”

Sep 23, 2020

When it comes to retirement, some women face obstacles that can make saving for retirement a challenge. Women typically earn less than their male counterparts and often take time out of the workforce to care for children or other family members. Added to the fact that women typically live longer than men, retirement money for … Continue reading “Women Facing and Conquering Retirement Challenges”

Sep 21, 2020

Football is back, which means Summer is coming to a close, days will get shorter, and sweaters will soon be in play. This year, there was no pre-season, so professional football started in September, which coincidentally, is a perennial month for stock market volatility.1

Sep 18, 2020

Roth IRA Conversion decisions have attracted retirement savers since their introduction in 1998. They offer the potential for tax-free retirement income, provided Internal Revenue Service rules are followed.

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