Current data tells us that the economy is in a steep contraction due to the coronavirus.
We don’t know how long it will last or how long the economy will take to recover.
How can we protect ourselves when we can’t predict the future?
I made a short video showing you exactly how the most successful companies in the world prepare when the future is unknown.
For the average American parent, raising a child comes with a price tag of at least $12,980 every year. By the age of 17, that’s well over $230,000—and that’s before college costs come into play. High-earning families spent even more—over $370,000 according to the research. 1
Of course, child-rearing costs vary from family to family, and it’s far more expensive to raise kids in some high-cost-of-living states, like Oregon and New York.2
Plus, kids don’t magically stop costing you money once they turn 18. College, rent, insurance, and helping out adult children can all add up.
COVID-19 is raging through America and there’s no doubt that we’re in for a tough time.
The weeks and months to come are going to be hard for all of us.
What actions can we take to protect ourselves when things look so uncertain? How can we build resiliency?
I made a short video showing three key actions you can take to help protect yourself and use this crisis to grow stronger.
Link to video interview: https://www.ksby.com/news/local-news/tips-for-paying-bills-in-the-middle-of-the-covid-19-pandemic
Wednesday is April 1st. Meaning, for many: bills and rent are due.
Following the COVID-19 pandemic however, some may now be questioning how to make ends meet
In this time of uncertainty, more financial obligations are in your control than you may think.
"Everyone in the world knows what's happening right now so most of those companies are prepared to do something to help," said Certified Financial Planner, Eric Maldonado.
Maldonado says a number of credit card companies are working with customers that call and ask for assistance.
"Call them and tell them you're having trouble because of the coronavirus paying the fee or the bill and if there's a way to postpone it thirty, sixty, ninety days without any interest or any fees charged. If not, is there any reduction in interest rates I can get?" Maldonado explained.
What’s inside the $2 trillion CARES Act? What’s in it for me?
The Coronavirus Aid, Relief, and Economic Security (CARES) Act is designed to provide relief for individuals and businesses who have been hurt by the outbreak. I won’t try to include all 800+ pages in this email, but here are a few key provisions that you should know about:(1)
One-time cash payment. Taxpayers are eligible for a one-time direct deposit of up to $1,200 per adult ($2,400 per couple) plus $500 per child under age 16. Amounts are reduced for those who make more than $75,000 ($150,000 if married). If you have filed your 2019 taxes already, the IRS will use that income to calculate your payment; if not, they’ll use your 2018 tax filing.
After weeks of headlines about the coronavirus outbreak, markets have been caught in a volatile pattern of surges and retreats. Here’s what you should know:
Why are markets so volatile?
Disease outbreaks are hard to predict and come with a great deal of uncertainty that can make investors nervous—particularly after a period of record market gains.
As the epidemic spreads beyond China, investors worry that it could cause serious disruptions to trade and the interconnected global economy.
At the end of 2019, Congress passed the most sweeping change to retirement rules in over a decade.(1)
Known as the Setting Every Community Up for Retirement Enhancement Act (SECURE Act), this legislation went into effect on January 1, 2020, and impacts retirement and estate planning rules.
Here are a few of the biggest takeaways from the Act:
RMDs Now Start at Age 72
These are the 2 biggest obstacles that people in or nearing retirement face.
I’m about to show you what they are and how to overcome them.
Overcoming these 2 obstacles will help you feel comfortable and confident giving yourself the “green light” to retire.
After all, that’s what saving and investing for retirement is for, right?
Let’s begin…
Obstacle #1 has nothing to do with money, finance, or investments. It’s purely emotional.
How do you want to end 2019?
The way you finish the year will affect how you go into 2020. Why?
Because your state of mind affects your behaviors and energy levels—and if you’re stressed or frustrated, you’re going to have a harder time achieving your goals.1
So, start 2020 right by closing 2019 strong using these tips.
There are a handful of things you can do to close out 2019 the right way, and it’s easier than you think. We share some tips for finishing the year strong (it’s not too late) in this edition of the Aquila Wealth Newsletter. Click here to see it!
