During the pandemic, maybe you lost your job. Maybe you were one of the last people left standing on your team and took on the jobs of two or three other people, and you just can’t take it anymore. Maybe you just want to find a job you’re passionate about. Whatever the case, in this near post-pandemic world we’re stepping into, The Wall Street Journal recently reported that people are leaving jobs at the highest...
Primed and Ready to Spend For the past year-and-a-half, scientists raced to develop effective COVID-19 vaccines and governments and companies worked to make vaccines available. Today, seven vaccines are approved in 176 countries. More than 2 billion doses have been administered, and about 14 percent of the world’s population has been vaccinated. It’s a remarkable achievement. 1, 2 The United States is ahead of the global vaccination curve. In early June about 42 percent of...
Life and Finances in a Pandemic World Life as we know it has changed dramatically during 2020. As the coronavirus spread across the United States, cities and states issued shelter-in-place orders to slow the spread of the coronavirus and prevent healthcare facilities from being overwhelmed by critically ill patients. In May, when states started to reopen, Americans began to return to work with eagerness and trepidation. Many were happy to leave isolation and reconnect with...
A Taxing Issue Nobody likes paying taxes. It’s a fact that has helped inspire and alter human behavior throughout history. You don’t have to look far to find ways taxes have affected human decision making. For example, taxes are the reason: Brick size was standardized in Great Britain Ironically, to pay for the war in the American colonies (which started because of taxes), Britain imposed a tax on bricks in 1784. Before the bricks were...
Being Financially Savvy is A Family Business Like it or not, we’re all involved in running the “family business.” We worry that our parents might outlive their retirement savings, we are worried about our kids going to college, and what our own role in both might be. We’re often comforted by the thought that family members would probably bail us out if we got into money or personal trouble. We strive to help our children...
It’s that time of year – tax season – and completing taxes for 2020 is likely to be complex and confusing for many Americans. For example, did you know: Unemployment benefits are taxable. 1 Stimulus relief checks are not taxable by the federal government, although they may be taxed by some states. 2 Any unreceived stimulus payment amounts may be claimed through a Recovery Rebate Tax Credit. 3 A home office may not be claimable...
Thinking about where to invest your money can be overwhelming and confusing, especially for those who are unfamiliar with all options for investing. If you’d like to take advantage of the ease of stock trading with the diversification of mutual funds, exchange-traded funds (ETFs) can potentially give you the best of both worlds. Here are some key things to know about ETFs before investing. ETF Basics Exchange-traded funds are baskets of securities—stocks, bonds, commodities or...
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. While it sounds like a no-brainer to take advantage of these benefits early,many younger employees do not participate in their employer's 401(k) plan. It’s essential to teach your children the...
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. Many couples go through the same thought process and, in fact, one in four couples quit their jobs within a year of each other. But retirement is a decision that should be carefully thought out. Here are some things to consider when deciding whether to retire at the same time as...
Many older Americans rely on Medicare for their health care needs. But it’s not always easy to figure out what’s covered and how much it will cost. Medicare benefits change from year to year, and 2021 is bringing an increase in premiums for participants. The good news is, there are other ways to save on Medicare costs. Here’s what you need to know about this year’s changes in Medicare. Changes to Part A Medicare Part...
The Pandemic Challenge: College Edition If you’re a parent of a high school senior, chances are you have spent a significant amount of time helping your child navigate the college application process this year. It’s a demanding rite of passage that has been made more stressful than usual by COVID-19. Last year, almost every aspect of the college recruiting and admissions process was disrupted and that’s likely to be the case for part of 2021...
What You Need to Know About the New Covid-19 Stimulus Package President Trump has signed the new $900 billion economic relief and spending bill passed by Congress. While most of the focus has been on a second round of relief payments to most Americans, there is plenty more in the 5,000-plus pages of the stimulus package. The goal of this bill is to continue to offer assistance to businesses struggling during the COVID-19 pandemic, provide extra unemployment...
