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The CARES Act stimulus package substantially relaxed the rules around certain retirement account loan and distribution requirements, but with much confusion. As a result, the IRS recently put out a FAQ document to address the COVID-19 rule relaxation around IRA and 401(k) loans and distributions. This important information should come as welcome news for the … Continue reading “IRS Questions and Answers on COVID-19 IRA and 401(k) Loans & Distributions”
After seeing a peak and then a sustained decline in coronavirus cases, hospitalizations, and deaths resulting from COVID-19, the White House and the Centers for Disease Control and Prevention has rolled out a three-tier approach to get the nation back to its pre-coronavirus economic activities. While this program is led by the Federal Government, it … Continue reading “Understanding the Federal Government’s Proposal for Opening Up Again”
According to the futures market, Chicago Mercantile Exchange contracts are forecasting a drop of 27 percent in dividends over 24 months for the S&P 500 index. Dividends are projected to fall to $42.05 in 2021, a drop from 2020’s dividend of $47.55 and 2019’s high of $58.24. Looking forward to 2026, according to CME’s futures … Continue reading “Are Dividends Becoming a Luxury During the Coronavirus Pandemic?”
That year or two when you are closing in on your retirement date, followed by a year or two after you retire, are the worst times for a sustained market decline. Market analysts call this scenario the sequence of returns (SOR) risk – because once your principal has been significantly reduced, there’s not enough time … Continue reading “Why Sequence of Returns Risk Matters Now”
Due to the unprecedented effects of COVID-19, the line between our professional and personal lives has blurred. Trying to take care of job responsibilities from home requires new ways of navigating. Here are a few ideas to help you become more productive while working at home – and stay grounded in these uncertain times. Dress … Continue reading “How to Stay Productive When Working from Home”
Most states are starting to relax stay-at-home restrictions. As such, businesses are developing plans for bringing employees back to work. Many businesses are already affected by the pandemic and their future looks grim. Specifically, we are going to look at the IT sector and examine what spending might look like in a post-lockdown economy. Disruption … Continue reading “How IT Spending Will Change When Business Resumes”
Paycheck Protection Program and Health Care Enhancement Act (HR 266) – This is a multilayered legislative bill divided into four distinct sections. Phase 1 authorized funding for coronavirus preparedness and response; specifically, for measures such as vaccine development and public health funding. Most of the money was allocated to the Department of Health and Human … Continue reading “In the Wake of the Coronavirus Pandemic, Congress Passes the Most Expensive Single Spending Bill in American History”
Coronavirus Aid, Relief and Economic Security Act (HR 748) – This legislation provided $2 trillion of stimulus relief in response to the coronavirus crisis. Provisions of the bill include: $1,200 for each American making up to $75,000 a year Additional $600 a week in unemployment benefits for up to four months $100 billion available for … Continue reading “More Coronavirus Relief, Plus Beefed-Up Security for Technology, the Elderly, and Children Born to U.S. Citizens Serving Overseas”
Since the escalation of COVID-19 cases, malicious activity from cybercriminals is also on the rise. Hackers are taking advantage of the coronavirus fear to carry out attacks. This is done by creating websites that claim to have cures for the virus or by spreading emails that contain links to malware. Consider this research by Check … Continue reading “Heightened Hacking as Corona Pandemic Worsens; How to Avoid Being a Victim”
During the government shutdown as a result of COVID-19, sadly, millions have lost their jobs. However, there is a silver lining: there are some industries that, because of the shutdown, are actually hiring. Here are a few leads to help those who might have been affected. Shipping and Delivery This industry is hiring at what … Continue reading “Six Industries Hiring During the Shutdown”
