A 10% penalty tax generally applies to distributions from an employer retirement plan or individual retirement account (IRA) before age 59½ unless an exception applies. Due to the coronavirus pandemic, the penalty tax will not apply to up to $100,000 of coronavirus-related distributions to an individual during 2020.
With extreme volatility in today’s markets and uncertainty in many professional and personal lives, financial planning with a trusted, credentialed advisor is more crucial than ever. In this brief video Fairman Group Partner, Shawn Kindt CPA/PFS, CFP®, explains the benefits of creating a financial plan—and routinely revisiting that plan—to assess progress and make necessary or desired adjustments. In Shawn’s words, “A good plan today is better than a perfect one tomorrow.”
On Friday, March 27 the Coronavirus Aid, Relief, and Economic Security “CARES” Act was signed into law. The key issues covered in the almost 900-page bill include provisions such as providing liquidity to individuals and businesses, expanding unemployment benefits, and incentives for businesses to retain employees. A few of the provisions are as follows.
The COVID-19 pandemic has had a significant impact on global economies and world markets (to say nothing of the health tragedies). In volatile times like these, human nature causes many investors to want to sell their portfolios for fear of major losses—short term and potentially long term. Before we delve into this topic further, we want to remind clients about a few core tenets of portfolio construction and asset allocation.
Investment advisory services are offered through The Fairman Group, LLC. The Fairman Group, LLC is registered with the Securities and Exchange Commission under Section 203(c) of the Investment Advisers Act of 1940.
View our Client Relationship Summary and SEC Disclosures | Privacy Policy
© 2024. The Fairman Group LLC. All rights reserved
