A 401(k) is a retirement plan offered by an employer that allows you to take a percentage of your paycheck (you decide how much) and put it aside for your retirement. This money usually gets invested on your behalf in a variety of stocks and bonds so that your money can create more money.

In normal times, the stock market is often a reflection of the economy. But these are not normal times. Even though April was marked by a global shutdown of businesses, rampant unemployment and low economic growth, the S&P 500 Index ended the month up 12.9%. This represented the highest one-month gain since 1987 and posted the fastest recovery of the fastest bear-market decline in 90 years.

Every type of financial vehicle has its own unique characteristics, including how it grows, how it's taxed and what it's used for. When setting up a retirement strategy, your financial advisor will begin by looking at two parts: how money goes in and how it comes back out.

According to a 2019 study, only 23% of American workers are very confident that they have enough money for a comfortable retirement. As a result, more of us will work longer, with two out of three pre-retirees saying that work will be one sources of their retirement income.

Many Americans think they will reach their financial goals if they just work harder and longer. They mistakenly believe that adding to their bottom line always requires more effort, energy, and time.

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.

By now, many Americans have discovered the benefits of walking. Plus, it’s one of the few outdoor pastimes people can enjoy while social distancing.

In many locations, it seems like summers just keep getting hotter. That means we need to get smarter when it comes to beating the heat. While most folks wear lighter-weight clothing during the summer months, it’s also worth checking out the new smart fabrics.

This simple cold pasta salad will be a refreshing addition to your summer dinners.

If your credit score is lower than you'd like, there may be ways to bring it up. Depending on what's holding it down, you may be able to tack on as many as 100 points relatively quickly.

The CARES Act includes direct financial assistance to Americans; aid to small businesses and employees; efforts to stabilize the economy and keep people employed; and additional support for health care professionals, patients, and hospitals.

Remember that there is a big difference between a growth portfolio and an income portfolio. As investors grow closer to retirement, they should begin transferring assets to more conservative holdings in an effort to preserve investment gains achieved during the accumulation phase

Positive virus treatment news and the Fed pledging to keep rates at zero until we see full employment again were enough for markets to crack out a 600-point rise. It’s almost inconceivable how quickly we dropped nearly 5% GDP in just the last month of the first quarter.

The age at which you retire depends on several variables, including if you enjoy your job and want to work past traditional retirement age and whether your health allows it or your employer gives you a choice in the matter. However, another factor that not everyone considers is what could be going on in the investment markets when you are nearing retirement.

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.