fbpx

Tag: coronavirus

The CARES Act Has Changed 2020 RMD Rules

Required Minimum Distributions are Temporarily Suspended

When President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act on March 27, he enacted the largest aid package in American history. One important impact is that Required Minimum Distributions (RMDs) for 2020 are, in essence, suspended. In this way, the federal government chose to sacrifice short-term tax revenue in order to provide immediate financial relief to retirees.

This change bears discussion, however, as there are many questions about what the CARES Act means for those who have already taken their 2020 RMDs, as well as any impact on taxes and inherited accounts.

Let’s begin with a review of the basic tenets of the RMD portion of this new law.

Continue reading

Financial Literacy Month, Coronavirus and Financial Resilience

How to Focus on Your Finances in the Month of April

Beginning 16 years ago, April was declared Financial Literacy Month as part of a strategy to enhance and increase nationwide financial literacy. It was implemented with the hope that it would lead to increased government advocacy of financial literacy programs, as well as spark more interest in programming already offered through schools, non-profit organizations, and businesses.

The creation of a month-long focus on financial literacy was a pointed acknowledgment of its importance in helping Americans gain necessary financial knowledge – knowledge that proves integral during a time of crisis like we are facing now with the COVID-19 (coronavirus) pandemic.

Though prevention is always preferable over a cure, it’s never too late to learn more and change your financial behaviors. Doing so can help you become more resilient in the face of financial adversity during times of personal or worldwide crisis. So, here are three ways you can personally celebrate Financial Literacy Month this year:

Continue reading

Take a Pandemic Mental Health Break

Social Media and Viral Laughs are Important for Self-Care, Doctors Say

As we continue to live in uncertain times, self-care is more important than ever. With 24-hour news coverage of the COVID-19 pandemic and growing concerns about how far-reaching novel coronavirus will be in the United States, there are more than a few of us with heightened anxiety. Unfortunately, gone are the days when we could give ourselves a mental break from all the doom and gloom by grabbing a drink with a friend after work or hitting the gym for an intense workout session. Guidelines recommending social distancing and state-mandated lockdowns have made it difficult for many of us to manage our stress in typical ways, and this is concerning for our individual and collective mental health.

Enter social media.

Continue reading

How to Remain Hopeful and Keep Perspective During the COVID-19 Outbreak

The Coronavirus Pandemic is real and it is scary on many different levels.  With news of the pandemic spreading and the recommendations on social distancing getting broader, it can be hard to feel certain or safe about anything.

As troubling as it is to watch the unprecedented market decline, we need to maintain our health and the health and safety of our family, friends, and neighbors as the number one priority. COVID-19 which emerged late in 2019 in China has spread rapidly worldwide since then and is a global pandemic. The measures taken by leaders around the globe have been strong leaving most children without a classroom to go to, many parents working from home or some without a job altogether and investors panicking about what is to come.

This disruption to daily life and to our psyches is substantial. The coming weeks could be difficult, but these measures are practical and prudent.

Continue reading

2849 Paces Ferry Rd SE, Suite 660
Atlanta, GA 30339

Best Financial Advisors in Atlanta