If you took a required minimum distribution from your retirement account this year and want to reverse it, you now may be able to. The IRS announced on 6/23/20 that anyone who already has taken an RMD in 2020 from certain retirement accounts has until Aug. 31 to put the money back. (https://www.irs.gov/pub/irs-drop/n-20-51.pdf) The announcement…
Many of us have tried to create a budget and stick to it at least once. Some people choose apps on their phone or spreadsheets on the computer to help them complete this task. But, for those who prefer a more creative approach, a better option might be bullet journaling. Bullet journaling is an organized…
It might seem strange to talk about finances when you first start dating someone new. People often try to overlook financial issues when embarking on a new relationship as it can be uncomfortable and awkward to discuss. However, if you see a future with that special someone, it’s important to know what kind of financial…
The senseless killing of George Floyd at the hands of law enforcement has shaken this nation at its core. His death, along with countless others’ has once again brought these injustices to the forefront of our society. For far too long, Black Americans have suffered under systems of racism and oppression. This time, there are…
According to a recent survey, 16.1 percent of organizations have suspended matching employer contributions due to financial hardships caused by COVID-19. Worse yet, 1.3 percent of businesses have terminated their 401(k) plans altogether.1 401(k) plans and their matching employer contributions are relied on by millions of Americans to bolster their savings for retirement. If your…
Today is Friday, May 29 which means it’s “529 Day” or “National 529 College Savings Plan Day”. Each year, National 529 College Savings Plan Day draws awareness to the tax-advantaged way of putting money away for education costs. To help ease the burden of student loans, some parents put money aside each year for their…
We’re all spending more time at home these days and it’s likely that money and finances are a stress for many during this pandemic. As the markets continue to be extra volatile, many people are feeling a lack of control when it comes to their money. Even though there isn’t much we can do about…
Whether you are just entering the workforce or winding down toward retirement, COVID-19 has likely affected both your professional and financial life. For those between the ages of 62 and 70, you have the opportunity to begin claiming your Social Security benefits, whether you were planning to or not. While this “safety net” of sorts…
The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act was recently enacted to assist families, individuals, small business owners and medical facilities across America amidst the COVID-19 pandemic.1 As part of this legislation, many individuals and families became eligible to receive stimulus checks of up to $1,200 per person.1 Many Americans have received…
The coronavirus has affected us all in many ways. This pandemic has had an immense impact on our physical well-being and our mental health, as well as our finances. This virus has spread throughout the globe and as many businesses are forced to cease operation, people worldwide are losing jobs at record rates. Roughly 22…