Between the coronavirus pandemic, social tensions, economic instability, election anxiety, and the passing of beloved and notable celebrities, 2020 has presented several challenges.
It’s safe to say that the coronavirus has disrupted life as we know it over the past few weeks. Millions of Americans have already lost their jobs and many more have experienced a reduction in income.
By now you have probably heard or read about the $2 Trillion Coronavirus Aid Package signed into law last Friday by the President.
Over the past few days, I have received several questions regarding the various loan programs offered under the CARES Act. One program that has commanded lots attention due to its forgivable nature is the Paycheck Protection Program (PPP).
If you have found yourself recently unemployed, the CARES Act has several provisions that can assist. From the expansion of unemployment benefits, to the creation of new loans and grants administered by the Small Business Association, there is something for everyone affected. Here is a summary of the unemployment rules under the law.
Being financially literate in today’s economic climate is more important than ever. Understanding finances can help you make better money management decisions, budget your money properly, adequately save for college, and be financially prepared for retirement. While it may sound daunting, financial literacy starts with a budget.
If you’ve ever played the Game of Life board game, it becomes clear that compressed into the colorful path there are various stages of life. Each stage holds its own major financial challenges as well as prospective profits in addition to surprises (new baby!) and forks in the road.
For many Americans, building true wealth might seem elusive, even illusory considering that many people, who very recently were sitting on six and seven figure 401k plans and home equity values, now feel unprepared for retirement. The lessons learned from the financial crisis is that wealth can be fleeting.
In many respects, people can be their own worst enemies in their quest for financial security. When you consider that our lives are nothing more than a culmination of the decisions we make each day, if we tend to make more bad decisions than good decisions, or worse, if we can’t make decisions at all, it’s should be no surprise when financial security remains elusive.
Although we are in the business of building wealth for our clients, we are always on the lookout for those “pearls of wisdom” from the ultra-rich that might bring some elucidation to those who wonder why they’re not.
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