PFA Ponderings

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…

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…

You’ve hired a professional to provide services for you.  Hopefully, you have some idea of what these services will cost.  Most contractors, it’s said, will finish their work in twice the time and at twice the cost that’s quoted.  But, hey, if you factor that in at the start, you…

Any firm that works as extensively with a higher education clientele as we do needs to become familiar with one of the most interesting life insurance and annuity companies out there, the Teachers Insurance and Annuity Association, or TIAA. THE HISTORY TIAA traces its roots back to 1918, when Andrew…

If you ask this question online, you’re going to receive a litany of web articles, many from banks and insurance companies, some from the IRS.  I noted recently that they all basically say the same thing, so I’ll certainly pass along the following: Keep tax records for 3 years (the…