And now, for a look toward a better future.
We won’t know the full economic impact of the coronavirus outbreak for quite some time. With more than 30 million people out of work, we know the damage is severe. But we also know that eventually the economy will recover. Economic activity is generally cyclical. Every recession – no matter how deep – has been followed by an expansion.
If not careful, families helping a student pay for college may learn a new meaning behind the phrase “no good deed goes unpunished.” That’s because common college savings vehicles, from 529 accounts to trust funds, that are not set up properly can adversely impact the amount of financial aid a student receives.
If there is one silver lining of a crisis, it is the reorienting effect that reminds us of what matters most in life – our loved ones and our health. A crisis can also serve as a reminder of what we should do to protect them.
For many of us, the hope is to glide into retirement sometime in our early to mid-60s. After 40-plus years of hard work, it’s time to enjoy the fruits of our labor – on our own terms. Except when things outside of our control derail those well-laid plans. Instead of a gradual transition, we get a forced retirement.
Earlier this week, I received some exciting news. Forbes magazine reached out to tell me that I have earned a spot on their 2020 Top Women Advisors list.
When put in a stressful situation, it’s easy to resort to our instincts and emotions. Which can be both good and bad. Courage and patience help; fear and hastiness hurt. But what is often most effective is direct, objective information to guide us forward. This is true in all critical situations, whether it’s investing or flying a plane.
Where most of us see this as a time for self-sacrificing unity, others see it as a time for financial opportunity. While people around the world are staying at home to counter the coronavirus (COVID-19) pandemic, fraudsters are staying busy preying on people’s fears.
As we all work to stay safe, one additional thing likely on the minds of many AT&T employees right now is the health of their 401(k)s. One potential factor in how yours is holding up right now is how much AT&T stock you own.
There’s no need to mince words. It is a nightmare scenario for anyone nearing retirement. You diligently save and invest over a long career only to find yourself potentially retiring in a bear market.
In the past month, the stock market dropped into bear market territory. During that time, the Dow Jones Industrial Index suffered its largest single-day drop ever, but also its largest one-day gain since 1933. Needless to say, as the world works to contain the coronavirus and faces the likelihood of an economic recession, the market has become highly volatile.
