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.
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.
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.
In times of uncertainty, intuition tells you to take action. While doing something, anything, may make you temporarily feel better, it’s purposeful actions that will make a difference. To find out what moves could improve your situation, it helps to ask some pointed and unemotional questions – especially when it comes to your financial life.
Right now, you may be experiencing concern and uncertainty surrounding the coronavirus, as well as its impact on the capital markets and economy. At Advance Capital, the well-being of you and your family is our top priority, so our hearts go out to all those who have been directly affected.
Unless you happen to live under a rock with no cell signal, your brain processes an extraordinary amount of information every day.
Business transactions can feel uncomfortable when there is an imbalance of knowledge between you and the person providing the product or service. If you know nothing about cars, you can’t help but feel suspicious when a mechanic recommends unexpected repairs. Unfortunately, some people try to take advantage of that discrepancy to enrich themselves at your expense.
