This recession is different, but different isn’t necessarily a disaster. Financial expert and market analyst John Mauldin says the recession of 2020 is unique. In the first place, by any metric it’s worse than any recession we’ve seen in the last 90 years. In the second place, that’s because our economy has moved in the
Retirement
Covid-19 has thrown off everyone’s habit of visiting our aging loved ones. Assisted living, independent living and nursing homes have isolated their residents for months. In most places, no one can visit in person yet. That has to change. Elders’ isolation is doing harm. Some homes have figured out a safe way to allow visitation.
We’ve heard a lot lately about how the COVID-19 pandemic is dramatically disrupting the retirement preparations of tens of millions of working Americans. Being furloughed from work or having your small business fail is causing people to dip into savings and interrupts putting money aside toward retirement. Those closest to retiring can be in the
Success businessman in the city raising his arms, open palms, with face looking up – financial … [+] freedom concepts, double exposure effect Getty Now that we’ve celebrated our Independence Day, you may want to consider another form of independence: financial. Financial independence is about having the freedom to work or not work as you
By Elizabeth White, Next Avenue Contributor Getty I remember well the shock of being suddenly laid off during the Great Recession of 2007-2009. I was in my mid-fifties when my good job disappeared, my income fell to zero and I was suddenly on the outside looking in at a life that was no longer mine.
Getty Potential borrowers still hoping to get a cut of the PPP pie have been given until August 8th to apply for their initial PPP loan. President Trump signed the “PPP Extension Act” on July 3rd, which consists of the same exact language that passed the Senate on June 30th, mere hours before the window
2 million mark banknote, 1923. Getty Modern Monetary Theory — the dream that we can spend quite a bit more money on such government programs as the Green New Deal, a Universal Basic Income, or similar agenda items merely by printing the money (or the 2020 virtual equivalent thereof) — insists that the United States
Trump’s Department of Labor, Securities and Exchange Commission are scheming to make 401ks “greater” … [+] than ever, i.e., greater fees, greater risks and greater conflicts. That’s great for the wolves of Wall Street, not-so-great for America’s workers and no way to Make America Great Again. Getty Trump’s Department of Labor, Securities and Exchange Commission
By Nancy Collamer, Next Avenue Contributor Getty How do you stay hopeful about your career during times like these? It’s a tall order. Unemployment is near record highs. Hiring is sluggish. And the triple whammy of continued economic volatility, civil unrest and Covid-19 has us all on edge. It’s no wonder that 72% of Americans
Growing Plant On Money – Finance Investment Concept Getty Monthly dividend stocks are securities that pay a dividend every month instead of quarterly or annually. More frequent dividend payments mean a smoother income stream for investors, notes Ben Reynolds; the editor of Sure Dividend and contributor to MoneyShow.com provides a countdown of his 5 top
By Chris Farrell, Next Avenue Contributor Getty An idea is gaining traction among some economists and scholars to deal with the pandemic in America: Isolate and lockdown older Americans, possibly until there is a vaccine. Everyone else gets to go back to work and regain something resembling normalcy. Some proponents call it “shielding” the eldest,
Financial Lifelines Are Ending As Longer-Term Unemployment Is Growing Getty The good news is that millions of workers got their jobs back in June. The really bad news is that the unemployment rate is still at double digits, exceeding the peaks during the Great Recession. The even worse news is that unemployment is becoming a
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)
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