If you’re a TIAA participant in the University of Maine system, whether an active employee or one who’s left because of a job change or retirement, you likely get a pretty heavy supply of mail from TIAA. Some of the mail that came in late 2019 and early 2020 might…
‘Flattening the curve’ is sure to remain a major part of our lexicon long after the COVID-19 pandemic has passed. Curve flattening makes the assumption that simply eliminating the disease is impossible. As such, the next most important step is to slow the spread so as not to overwhelm the…
Social Security, in its current form, is in trouble. This should not be newsworthy to anyone who pays attention. When I first started in this industry during the last century, the Social Security Advisory Council warned that the Social Security Trust fund would run out of money in the 2030s,…
During times when going out to movies, concerts, restaurants, hair salons and sporting events is simply not in the cards, it is really likely that our spending will go down. Mine sure has. Despite the huge NEGATIVE impact on the global economy that comes with that, for those who are…
Student loans are a big part of the financial picture for a great many people. After the current pandemic started spreading in the US, it became clear that fighting the spread of this virus was going to come at a great economic cost, and one of the earliest steps taken…
I speak with very few people who relish market volatility, and lately we’ve had more than our fair share. Of course, volatility, in general, may really not be what people hate – but rather the downside volatility. I rarely hear complaints about sharp upward movements in the market. The fact…
Last week, Congress passed, and the President signed the most sweeping fiscal stimulus bill in history, The Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), aimed at cushioning the economic impact that has come from the virtual shutdown of the majority of the country. To call this Act…
We aren’t different from the vast majority of financial advisors when we recommend avoiding knee-jerk reactions to market movements. History has plenty of market meltdowns, a number of which we’ve been through. Up to the current market disruption caused by dual factors of COVID 19 and a price war in…
I was on a finance committee meeting the other day with a non-profit board I sit on, when one of the other committee members looked at the investment portfolio and declared: “Why are they invested 25% in international stocks?” My retort was: “Is there a reason they shouldn’t be?” His…
IRAs and Roth IRAs are similar in a lot of ways. First, there are limits to how much you can contribute to each (for 2020, that limit is the greater of earned income or $6,000 – or $7,000 if you’re over 50.). There is no taxation on growth or income…
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