Will Social Security cover all of your retirement expenses? Does Social Security only provide retirement benefits? Is Social Security taxable? Will earning more money reduce my Social Security benefit? Is Social Security bankrupt?
If you watch the news, listen to the radio, or read financial blogs, undoubtedly you have come across several stories discussing the health of Social Security.
The Internal Revenue Service (IRS) amended rules under the CARES Act to provide flexibility for health-care spending related to the COVID-19 pandemic in which families and individuals may need additional at-home services,
Here are a few key points to keep in mind before making investment decisions based on vaccine related headlines.
Financial advisors often get the bad reputation of disliking cash and being “all in.” The most recent “cash is trash” quote by a prominent investment manager is not helping our image either. However, we feel that holding an appropriate amount of cash in your portfolio can be the financial equivalent of taking a deep breath to relax.
The financial crisis stemming from the COVID-19 fallout has led to a lot of one-off changes with regards to retirement plans in 2020. Most notably, the CARES Act has created some unique options that older investors may find appealing. Mainly, most required minimum distributions (RMDs) have been suspended for 2020 leading to a few interesting RMD strategies.