News & Commentary

The Pandemic’s Economic Impact On Retirees

Retirement During COVID-19: What Has Changed? While retirement is an exciting time, it can also be nerve-racking for many people. For some, living on a fixed income, coping with declining health, and dealing with the worry that they’ll outlive their savings is a concern. Unfortunately, the pandemic has heightened these risks. Transamerica Center for Retirement Studies Survey Transamerica Center for Retirement Studies conducted a survey in 2020 to learn more about retirees’ finances during the pandemic and how they prepared for retirement during their working years. Here are some noteworthy findings: Savings: Fifty-six percent of retirees stated that they would depend on their savings if the pandemic took a toll on their finances. Others mentioned they’d rely on credit cards…

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The Pandemic’s Economic Impact On Retirees
Empowering Women to Make Financial Decisions

Empowering Women to Make Financial Decisions

It’s important for everyone, including women, to make smart financial decisions that steer them toward financial success. When women thrive financially, they may feel less financial stress leading to independence and the ability to accomplish various short and long-term goals. Here are several tips to make better financial decisions for yourself: Develop a Financial Plan A solid financial plan is essential to create a roadmap for you to follow. A financial plan addresses factors that work together, such as your income, expenses, investments, and personal taxes. Once you have your plan in place, decide which strategies enable you to meet your goals. Unsure of how to design a financial plan? Contact your financial professional to get your plan underway. Prioritize…

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The American Rescue Plan Act of 2021 and What You Need to Know

  The new stimulus plan may have an impact on your finances. The American Rescue Plan Act of 2021 is a $1.9 trillion relief package is designed to help struggling Americans overcome financial hardship. Here’s an overview of several of its most important components that relate to individuals: The Third Round of Stimulus Checks- When the coronavirus pandemic hit, eligible adults received $1,200 as well as $500 per qualifying child in April 2020. In January 2021, the second check for $600 was sent to those who met the criteria. Many Americans are hoping to receive a third round of $1,400 stimulus checks. The IRS will likely distribute these funds via direct deposit, checks in the mail, and debit cards, just…

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The American Rescue Plan Act of 2021 and What You Need to Know
The History Behind Equal Pay Day

The History Behind Equal Pay Day

Equal Pay Day Created by the National Committee on Pay Equity (NCPE) in 1996, Equal Pay Day highlights the gap between men’s and women’s wages. This gap often requires women to work longer than men for the same amount of pay. As a result, women may struggle financially or find themselves reliant on others to meet their financial goals. The Gender Pay Gap Still Exists  Analyzing the most recent Census Bureau data from 2018, women of all races earned, on average, just 82 cents for every $1 earned by men of all races. This calculation is the ratio of median annual earnings for women working full time, year-round to those of their male counterparts, and it translates to a gender…

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5 Things You Should Know About the 2021 Tax Season

[caption id="attachment_1105" align="aligncenter" width="2560"] 2021 Tax Season[/caption] Due to the pandemic and Coronavirus Aid, Relief, and Economic Security (CARES) Act, filing your 2020 taxes may look a bit different this year. By becoming familiar with certain deductions and rules, you may be able to potentially avoid costly mistakes. Here’s what you need to know for the unique 2021 tax season:  Unemployment Benefits are Taxable Contrary to popular belief, unemployment benefits are taxable income by the IRS and in almost every state. Since there is the possibility taxes weren’t taken out of your payments, you may receive a 1099 form showing your unemployment benefits income. Typically, you would need to pay taxes on the amount of money you made through unemployment…

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5 Things You Should Know About the 2021 Tax Season
Socially Responsible Investing:  Investing in the Next Generation

Socially Responsible Investing:  Investing in the Next Generation

[caption id="attachment_371" align="aligncenter" width="4320"] Socially Responsible Investing[/caption] Socially Responsible Investing:  Investing in the Next Generation One of the major trends in investing today is socially responsible investing. While socially responsible investing has been around for decades, new data shows that it has become even more popular than ever. Results from the U.S. Trust Insights on Wealth and Worth's annual survey in 2016 indicated that among high-net-worth individuals, 93% of millennials, 88% of GenX and 51% of baby boomers say they are interested in environmental, social and governance (ESG) investing.[1] However, today's socially conscious investing is very different from that of years past where investors simply excluded "sin stocks" (companies that produce or sell addictive substances like alcohol, gambling, and tobacco)…

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