Unpacking the Paycheck Protection Program
Apr 27, 2020
American lawmakers have passed the Paycheck Protection Program and Health Care Enhancement Act, a program that will offer small business loans to employers in need of aid as a result of the COVID-19 pandemic. (more…)
Tags: Current Events, financial advisor, Financial Help, Investing
How We Respond to COVID Matters
Apr 22, 2020
“Life is 10% what happens to you and 90% how you respond to it.” – Lou Holtz, Hall of Fame football coach. As the battle against the COVID-19 pandemic continues, how we respond to it will determine how we beat it. Continued sacrifices range from everyone in the medical community working on the front lines to the thousands of truck drivers across our country keeping goods flowing, parents who have become homeschoolers, and folks missing their family events to help stop the spread of this terrible outbreak. As Lou Holtz said, we can’t control what happens, but how we respond to it is what matters. Our response to this crisis has shown the resolve and strength of the human spirit, which is why we will overcome. (more…)
Tags: Current Events, financial advisor charlotte nc, Personal Finance
Unprecedented Moves from The Federal Reserve
Apr 20, 2020
In response to the COVID-19 pandemic, almost every state in America is under some sort of stay-at-home order. This unprecedented time has also led many businesses, large and small, to downsize or close up shop entirely. In response to the drastic impact that COVID-19 has had on global and domestic concerns, the Federal Reserve Board has taken a multitude of measures to buttress the American economy. (more…)
Tags: Current Events, financial advisor, Investment Planning
Market Update: Wednesday, April 8
Apr 8, 2020
These are challenging economic times, and this week may be the toughest as we wait for COVID-19 to reach its peak in the United States. As the war against COVID-19 wages on, we continue to be inspired by the tremendous bravery shown by healthcare workers on the front lines. Other heroes will likely emerge from a lab somewhere with a vaccine in the near future. In the meantime, we have important roles to play by maintaining quarantines and social distancing. (more…)
Tags: Current Events, financial advisor charlotte nc, Investing
CARES Act and Coronavirus Relief
Apr 2, 2020
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
Tags: charlotte NC, Current Events, Investing, Retirement Planning
Road to Recovery: COVID-19 Case Update
Apr 1, 2020
Factor #1 in our Road to Recovery Playbook is finding confidence in the peak of COVID-19 cases in the United States. At Epic Capital, we are monitoring this factor daily, and we wanted to provide an update into what we are seeing. As shown in the Chart of the Day, while the number of new cases in the United States has continued to climb, the number of new cases seen outside of the US has begun to drop in recent days. In fact, Italy, the worst-hit country in terms of total deaths from the virus, reported on Tuesday that new cases hit a two-week low. (more…)
Tags: Current Events, Investing
When Bear Markets Bounce
Mar 30, 2020
The big equity bounce has continued, with the S&P 500 Index up more than 17% from the multi-year lows hit last Monday. The big question on many investors’ minds is could this be a bear market rally? After all, some of the most spectacular short-term bounces took place during bear markets. (more…)
Tags: Current Events, financial advisor charlotte nc, Investing
Will the Fed’s Bold Moves Keep Bond Yields Up?
Mar 27, 2020
With the major stock market indexes all entering a bear market this month, it’s no surprise that stocks have stolen most of the spotlight. However, actions taken by the Federal Reserve (Fed) to support what may be considered the safest part of the bond market, US Treasuries, may actually have more lasting implications for investors’ portfolios and bond yields. (more…)
Tags: Current Events, financial advisor charlotte nc, Investing
Market Update: Thursday March 26, 2020
Mar 26, 2020
Sell the news. Stocks reversed earlier losses this morning and traded higher this morning after the Senate approved the roughly $2 trillion fiscal stimulus package and markets digested the unprecedented surge in weekly jobless claims. Wednesday’s gains marked the first two-day win streak for the S&P 500 Index in more than a month, after tying its longest streak without back-to-back up days since WWII. Stocks held up relatively well immediately after the historic weekly jobless claims report was released today at 8:30 a.m. ET, further evidence that a recession had already been priced into markets.
Tags: Current Events, financial advisor charlotte nc, Investing
Making Sense of Skyrocketing Jobless Claims
Mar 26, 2020
Weekly new jobless claims were reported this morning, and to no one’s surprise they rose to levels thought unimaginable just a few weeks ago. As shown in the LPL Chart of the Day, 3.3 million people filed new claims for unemployment benefits in the week ending March 21, almost 5 times the previous high of 695,000 set in 1982. (more…)
Tags: Current Events, financial advisor charlotte nc, Investing
More Insights
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Few terms in personal finance are as important, or used as frequently, as “risk.” Nevertheless, few terms are as imprecisely defined. Generally, when financial advisors or the media talk about investment risk, their focus is on the historical price volatility of the asset or investment under discussion.
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As Americans get their grills and beach chairs ready for the July 4th holiday, the stock market and the weather across much of the country have both been on heaters. Stocks and bonds continue to effectively navigate a complex policy landscape shaped by evolving trade dynamics, geopolitical tensions, and fiscal stimulus. The market’s resilience in … Continue reading “Market Update – America Gets Record High Stock Prices for Its Birthday”
Jun 20, 2025
Birthdays may seem less important as you grow older. They may not offer the impact of watershed moments such as getting a driver’s license at 16 and voting at 18. But beginning at age 50, there are several key birthdays that can affect your tax situation, health-care eligibility, and retirement benefits.
Jun 18, 2025
During times like these when geopolitical headlines can be unsettling for investors, we at LPL Research like to remind ourselves of one of our key investing principles. Markets have always faced challenges —ranging from geopolitical conflicts and economic downturns to natural disasters, political upheaval and health crises. These events often trigger short-term volatility and shake … Continue reading “Why Long Term Investing Beats Selling in Volatile Times”
Jun 16, 2025
Are you concerned about the inheritance taxes your heirs may have to pay? Then you may want to consider creating charitable lead trusts.
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