The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted in late March, offered provisions related to distributions from tax-advantaged retirement accounts. Specifically, the goal is to enable Americans to have advantageous access to cash to help sustain them during periods they may not be able to work due to the coronavirus.

Prior to the COVID-19 epidemic, nearly 34% of U.S. homes were owned by residents aged 60 and older. As the “Silver Tsunami” winds down, existing homes may begin to flood the market — driving prices lower in residential real estate.

I would love to report that this virus has galvanized our government and elected officials in a common cause – but that’s just not been the case. The Paycheck Protection Program (PPP) – which included $349 billion carved out of the $2.2 trillion relief package – ran out of money.

Markets finally started paying attention on Jan. 23, when China announced it was locking down Wuhan, the initial epicenter of the virus. In response, the U.S. banned travel from Wuhan and later all of China.

The logic is that deaths are perceived as rearward-looking; people who have had the disease are passing, so the markets discount those higher numbers. Rates of new infections, a forward-looking measure, are dropping, and fewer infections today mean fewer future deaths. Markets liked the more optimistic scenario.

This week is stacking up as a pivotal one for the virus in our country. It truly seems like this week will be the hardest to take given the dark news coverage, and it will be difficult for people to stay calm and focused

Wishing you good health and comfort during these unprecedented times. Contact our team today with any questions or concerns you have regarding your current retirement strategy.

We are currently experiencing the fallout of the spread of the COVID‑19 coronavirus worldwide, including here in the United States. It’s a perfect example of an unanticipated disruption that can wreak volatility in the stock market.