Can you do a Roth conversion of a coronavirus-related distribution? It would be nice if you could, as that would allow you to spread the income from the Roth conversion over three years. Follow me as I guide you to my answer. Coronavirus Coronavirus related distributions and Roth conversions Getty The coronavirus disease 2019 (COVID-19)
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TOPLINE While reports of positive data from potential coronavirus treatments have helped propel the market higher in recent months, investors are far too optimistic about a vaccine and stocks shouldn’t be rallying so much on each bit of news, warns Vital Knowledge founder Adam Crisafulli. Markets need to be more “skeptical” about each vaccine announcement.
US President Donald Trump, with Director of the National Economic Council Larry Kudlow (L) and US … [+] Secretary of the Treasury Steven Mnuchin, speaks to the press in the Brady Briefing Room of the White House in Washington, DC, on July 2, 2020. (Photo by JIM WATSON / AFP) (Photo by JIM WATSON/AFP via
What’s important for your retirement? Getty As you’re planning for retirement, when you stop and think about it, you’re planning for a 20- to 30-year period of your life. It’s a task to take seriously, and it’s not a good idea to wing it. As you approach retirement, it’s important to think about the life
By Leslie Hunter-Gadsden, Next Avenue Contributor Getty In her fascinating new book, Our Money Stories, Eugenié George, a Philadelphia financial planner, wellness coach and former grade-school teacher, has dug deep into how the economic history and oppression of African American, Latinx, Native American and Asian American women have affected their money management. Our Money Stories
TOPLINE The market opened higher on Thursday, despite a continued spike in new coronavirus cases across much of the country, as stocks were boosted by a bigger-than-expected jobs increase last month. The unemployment rate fell to 11.1% in June. Spencer Platt/Getty Images KEY FACTS The Dow Jones Industrial Average was up 1.7%, over 400 points,
TOPLINE Despite a surge in coronavirus cases across the country, the market finished mostly higher on Wednesday—the first day of the third quarter, after stocks got a boost from positive coronavirus vaccine news and strong U.S. economic data. Stocks moved higher to start the third quarter. Angela Weiss/AFP via Getty Images KEY FACTS The S&P
Months ago when the virus took hold it looked as if marriage rates might tank – continuing a 100 year low. After all, a lot of couples were postponing big weddings. As it turns out, though, in a number of counties more people applied for marriage licenses than in years past. Couples are now exchanging
TOPLINE Despite a surge in coronavirus cases across the country, the market opened higher on Wednesday, the first day of the third quarter, after stocks got a boost from positive coronavirus vaccine news and strong jobs data. Stocks moved higher to start the third quarter. Angela Weiss/AFP via Getty Images KEY FACTS The Dow Jones
TOPLINE The stock market finished higher on Tuesday, closing out its best quarter since 1998 despite a rising number of coronavirus cases across the country—as many states pause or walk back reopening plans altogether. The market had its best second quarter in decades. Spencer Platt/Getty Images KEY FACTS The Dow Jones Industrial Average was up
Getty The risk of inflation seems to be of little concern to investors in recent years. Most likely, that is due to the recency bias investors tend to exhibit. The fact that inflation has been tame for the last 30 years, leads many to think that this will continue indefinitely. While inflation was averaging over 10% in
The IRS provides answers to some key questions about coronavirus- related distributions from IRAs, 401(k)s and other eligible retirement plans; and expands qualification, for it, by association. Raining money Getty On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law, in response to the coronavirus disease 2019 (COVID-19)
Getty Yes, the GROW Act — the best new retirement innovation you’ve never heard of (regular readers of this site excluded). For quite some time, I’ve been insisting that Congress must come to a compromise with respect to a rescue and reform of multi-employer union pensions, with a combination of federal fund infusion plus changes
By Bob Blancato, Next Avenue Contributor and Elder Advocate Getty As the national coordinator of the national and grassroots advocacy group, the Elder Justice Coalition, I believe the need to address elder justice has become even more urgent recently. Congress appears to think so, too. Elder justice is the holistic approach of preventing and handling
Getty The Covid-19 pandemic is causing people to re-learn an important financial lesson. Perhaps this time more people will remember it than usually do, because the lesson can prevent substantial declines in wealth and reduce stress and worry over the years. The lesson is that about every 10 to 15 years we experience an event
Workers protest (Photo by VALERIE MACON / AFP) (Photo by VALERIE MACON/AFP via Getty Images) AFP via Getty Images As the nation the moves into an uncertain and wobbly relationship with the Covid-19 virus, it would be both just and smart to pay more to essential workers for risking their lives in the field. Hazard
Getty Many people relate to 401(k) and 403(b) plans, which feature optional employer matching contributions. (There are other plan types such as the SIMPLE plan, which offers an employer match, which we are leaving out of this article.) Some employees say that if the company does not match their contribution, they simply won’t save. But
©hd3dsh – stock.adobe.com Personalizing your response to 2020’s Bear Markets, Recession, Pandemic and the rest of the hurdles to building and protecting wealth It’s just another lazy summer in the midst of a boring, nondescript year. Oh, wait, that was last year’s message at this time. 2020 has been a time of great adjustment for
Getty Everyone’s talking about a “second stimulus,” it seems, these days. Here’s CBS News: “there are signs the White House may get behind additional stimulus funding, with the Wall Street Journal reporting that the administration is working on its own plan. During a press conference last week to discuss unemployment, President Donald Trump said his
Do you believe Donald Trump is a “prudent man” capable of rationally, intelligently managing your … [+] pension, your 401k and your health care? Like it or not, he’s making unprecedented decisions that undermine the financial security and health of Americans. Getty Regardless of whether you love or hate him, do you believe Donald Trump