COVID-19 – Further Guidance Released by the IRS

You know it is strange times when one day after I write an article explaining new provisions put out by the IRS, I have to write a second article covering the clarifications the IRS released for those new provisions. Yet here we are. This afternoon the IRS released a FAQ page covering several of the questions that were left unanswered in my article yesterday and even some other areas that are worth noting.

COVID-19 – Additional Relief Released by the IRS

The IRS has announced an extension for filing 2019 tax returns. This update from Chris Plagge, Savant’s Director of Tax and Business Services, explains why you might not want to wait.

Flattening the Curve: The Power of Time and Compounding

We in the financial advisory industry oftentimes extoll the virtues of time and compounding when it comes to saving for retirement. In fact, Albert Einstein is rumored to have said that compound interest is the 8th Wonder of the World. This is wonderfully amazing for a 22-year-old at their first job saving in their 401(k). However, the same concept is currently working against us with regard to the spread of COVID-19.

A Response to Market Volatility

With investment markets in full panic mode as a result of the World Health Organization declaring the COVID-19 virus to be a global pandemic, traders on Wall Street are selling at virtually any price, which has caused the markets to drop into bear market territory.

Investing During the Coronavirus Outbreak

As markets come to a close on Thursday, February 27, 2020, the S&P 500 Index (U.S. stocks) and MSCI All Country World All Cap Index (global stocks) have officially entered into a correction (defined by a 10% drop from the most recent high). As equity markets experience turmoil due to concerns surrounding the coronavirus outbreak, it’s important that we take a step back and look at the situation in the context of prior pandemic outbreaks and broader market volatility.

What the SECURE Act Means for Retirement Savings

With all of the political headlines in the news lately, you may have missed an important one that has far-reaching implications for how you save for retirement. In late December, both political parties joined forces to pass the Setting Every Community Up for Retirement Enhancement (SECURE) Act throughout the year.

2019 Fourth Quarter Review Slides

2019 Fourth Quarter Review Slides

2019 Third Quarter Review Slides

2019 Third Quarter Review Slides

Can I Afford to Retire? - Beware of Binary Bias

Why do we continue to approach the nuanced transition into retirement as such a binary/cliff event? I think it’s mainly habit, extending back to the industrial days when you were either employed or not employed. No in-between.