News Affecting Your Financial Life – April 2020 Issue
The April 2020 edition of Fairman Group Perspectives highlights returning to work after COVID-19, coronavirus scams, rebalancing portfolios, and CARES Act distributions. Learn more!
CARES Act Retirement Plan Relief Provisions
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.
A Good Plan Today Is Better Than a Perfect One Tomorrow
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.”
How Unintended Risk May Be Creeping Into Your Portfolio
The stock and bond markets have had spectacular returns since the trough of the market on Christmas eve 2018. The stock market (S&P 500) is now up 44.7% and the bond market (Bloomberg Barclays US Aggregate Bond Index) is up 9.6%. While investors have no doubt enjoyed these returns, they should be aware of the potential for an unintended, and potentially unwanted, consequence of strong markets.
