As we all painfully know, the COVID-19 pandemic has crushed the US economy with over 24 million Americans still out of work and a record rash of businesses closing, which is only going to get worse. Yet the paradox is, the personal finances of many Americans have remained strong and in some ways have even… Continue Reading
Category Archives: Financial Planning
Half of Americans 55+ Have No Retirement Savings
There was some great news announced last week by Fidelity Investments which reviewed over 17 million retirement accounts it holds in custody. I’ll give you the good news just below. However, Government Accounting Office reports that nearly half (48%) of Americans age 55 and older have no retirement savings at all. Let’s get to the… Continue Reading
Many Americans Retire Early Due To Losing Job
A recent nationwide Harris Poll found that 26% of seniors who retired sooner than they planned did so because they lost their jobs and couldn’t find work with comparable pay. That finding underscores the importance of saving for retirement from an early age rather than waiting until later in life to start ramping up your… Continue Reading
What New “SECURE Act” Means For Your Retirement
There is good news if one of your New Year’s resolutions is to save more for retirement. During the same week that a brutal political battle over impeachment made headlines in Washington in December, you may have missed the story that both Republicans and Democrats came together and passed a bill making it easier for… Continue Reading
CBO: US Budget Deficit To Top $1 Trillion In 2020
The Congressional Budget Office updated its budget and deficit forecasts in August and now estimates the federal budget deficit for fiscal year 2019 at almost $900 billion, virtually unchanged from its January estimate. If that weren’t bad enough, the CBO estimates the budget deficit will top $1 trillion annually for the next several years starting… Continue Reading