BUSINESS OWNERS AND GIG workers are often frequently ineligible for unemployment insurance. But thanks to COVID-19, small business owners, gig economy workers and independent contractors who’ve lost income can access a range of benefits, including unemployment insurance. So if you’re your own boss but your finances have taken a hit this year, it’s important to […]
The stock market has clawed back much of its losses from the new coronavirus pandemic. Ophthalmologist Craig Sklar is selling his stocks anyway. When the pandemic hit, the value of Dr. Sklar’s investments tumbled. So did the income he earned from his private practice in Connecticut, which was forced to furlough staff and dip into […]
As the unemployment rate has soared to a recent record 14.7%, the highest since the Depression era, the coronavirus crisis may result in one alarming trend: forcing thousands of Americans into early retirement. The coronavirus is impacting labor markets in three ways. First, there have been significantly larger than anticipated job losses. Second, many laid […]
Numerous studies—both past and current—report a looming shortfall of retirement savings for American workers who are approaching their retirement years. Some people call this a retirement savings “crisis,” whereas others characterize it as a serious retirement planning challenge. Regardless of whether you call it a crisis or a challenge, there are steps we can take […]
Personal loans are the fastest-growing type of consumer debt. They can be an effective way to consolidate other forms of debt or to pay for an unplanned expense, like pricey home improvements or a car repair. In fact, more than 20 million consumers have a personal loan. If you’re among the ranks, you may be in […]
I’ve become obsessed with saving money in recent years. There are really only two ways to put aside more money: 1) make more or 2) spend less. I’m likely not in a position to make more for a little while, so my best bet in seeing my bank account balance grow at a faster rate […]
The COVID-19 crisis is making Americans rethink their retirement plans and alter the way they save for it. Specifically, 14% have decreased their retirement plan contributions, according to a new survey by TD Ameritrade, and 15% have already delayed retirement altogether. Realizing they may now retire with less money than expected, 51% of Americans are also gearing up to […]
The coronavirus crisis has had a huge impact on everybody’s lives. As well as rapidly having to adapt to a new way of life, most of us have also been affected financially. Some have lost jobs or had their salary cut, while others have ended up saving money simply due to spending less. New research […]
Retirement security is something every American deserves, but sadly there are millions of current and future retirees who won’t have the funds they need to provide financial stability. While there are many factors affecting retirement readiness, one of the big problems is that far too many people haven’t put a solid plan in place. In […]
If you think Medicare is free, guess again. Depending on your specific coverage and your use of the health-care system, the amount you pay out-of-pocket could climb well into six-figure territory over the course of your retirement, according to a report from the Employee Benefit Research Institute. “Some are surprised that, after working for decades […]
Are you setting yourself up for a tax problem caused by your retirement savings? Too often, people hear the tax-deductible and tax-deferred side of the story and assume that means tax-free. Not so, unfortunately. Recently a new client shared that she had made a withdrawal after age 59 ½ and found herself owing a tax […]
With much of the country beginning to reopen after months of lockdown due to COVID-19, many consumers are celebrating the return of small businesses. But some may not be able to open their doors, or at least not for long. As of mid-May, more than 100,000 small businesses across the U.S. had closed on a […]
