Rule #1 – don’t panic! Develop a repayment plan for your 401(k). If you tapped your 401(k) due to the pandemic, even if you are not ready to replace the funds, it’s not a bad idea to start to develop a plan to get back on track and saving again. Folks who took a coronavirus-related...
These pandemic times have hit many family members hard. We all want to be generous to our kids and grandkids who are out of work, be helpful to that brother or sister that got the virus, and financially support our elderly parents in quarantine for their safety, BUT most folks do not realize what is...
Are you considering virtual day camp this Summer for your kids to keep them safe in these Coronavirus times and wondering if it is eligible for the Child and Dependent Care Tax Credits? You are not alone! Continuing to stay home to care for children who aren’t in school or camp may simply be impossible, especially...
Financial hardship has been another consequence of the Coronavirus pandemic. The latest market swings have impacted many portfolios, as has loss of employment, or business losses and closings. This state of economic affairs has prompted many to look at their saleable assets in order to raise cash. Tough times require tough measures, but as accountants...
It is hard for individual investors to stay focused on long term goals when in the current financial environment jobs are disappearing, businesses are failing, legislators lack leadership, markets are volatile, and retirement balances shrinking. Here’s a few practical tips how to proceed in pandemic times: 1. Don’t panic sell stocks, have patience, take advantage...
