The Week Ahead: August 10, 2020: Read Debbie’s Feature in Advisors Magazine, Learn Why 2020 Is A Unique Year For Retirement, and Find Out What COVID In The Fall Looks Like…all this and more in The Week Ahead!
AUGUST 2020 CLIENT LETTER: WADING THROUGH MURKY ECONOMIC WATERS
When I take a step back from what is happening in the economy and look at the major U.S. market averages, I see an incredible disconnect.
And I’m not alone. U.S. Gross Domestic Product (GDP), which is the broadest measure of the value of goods and services in the economy, fell at an annual rate of 32.9% in Q2 2020, the largest decline on record. The prior record, a 10.0% annualized decline, occurred in 1958 and coincided with the Asian flu pandemic…Read More
RESERVE YOUR SPOT FOR OUR NEXT LIVE WEBINARS
We have three fall webinars in the works…Please stay tuned for upcoming webinars!
CARSON GROUP WEBINAR ON THURSDAY, AUGUST 13, 2020 AT 4PM EST
How Retirement Planning Changed in 2020
The CARES Act, the SECURE Act, the most recently discussed HEALS Act – Congress has been busy this year! Government movement has affected the economy more than in years, and it’s important to know how that intersects with your financial plan.
Join our partners at Carson Thursday, August 13, at 4 p.m. EST for “How Retirement Planning Changed in 2020.”
Hosting the webinar will be Jamie Hopkins, Director of Retirement Research at Carson. Jamie will dive into:
Recent legislation’s impact on the economy and personal finance
Alternate strategies for financial planning in light of these changes
Effects of RMD changes on retirement finance and estate planning
Financial advisors who have long relied on regular client communications to drive their businesses are stepping up their game to proactively reach out to customers during these uncertain times. Largely unable to meet with consumers face-to-face, firms are making more frequent use of the telephone, social media, Zoom seminars, and special events to stay in close contact with their customers…Visit Our Website For The Full Article
WHAT MAKES 2020 A UNIQUE YEAR FOR RETIREMENT?
Big Changes to Retirement Account Rules
Client Announcement Provided by Taylor Financial Group, LLC
You can attribute those changes to two major pieces of legislation: the Setting Every Community Up for Retirement Enhancement (SECURE) Act, and the Coronavirus Aid, Relief, and Economic Security (CARES) Act. You may not have to withdraw money from your retirement plan this year. In most circumstances, you must make annual withdrawals from traditional IRAs and workplace retirement plans once you turn 72. The CARES Act suspends this requirement for 2020….Read More
TAX SEASON HAS OFFICIALLY ENDED! PLEASE SEND US YOUR RETURNS!
The filing and tax payment deadlines have officially passed! Please click here for instructions on how to send your tax returns to us. Click Here for our 12-Point Tax Return Review Checklist that allows you to review specific details from your tax return for tax planning purposes.
WHAT ARE ALPHABET ECONOMICS? WATCH THIS VIDEO
Why The Old Rules Of Recoveries May Not Apply
The Wall Street Journal Video Provided by Taylor Financial Group, LLC
The U.S. economy contracted at a record rate last quarter and weekly jobless claims rose for the second straight week, amid signs of a slowing recovery as the country continues to struggle with the coronavirus pandemic. The Commerce Department said U.S. Gross Domestic Product—the value of all goods and services produced across the economy—fell at a 32.9% annual rate in the second quarter, or a 9.5% drop compared with the same quarter a year ago. Both figures were the steepest in records dating to 1947…Click on the photo to watch
HEALTH AND WELLNESS
Preparing For Fall’s Second Wave – and Then Some
MedPageToday Article Provided by Taylor Financial Group, LLC
Long ago, when I was a resident, I worked an overnight emergency room shift and saw a patient who presented with episodes of shortness of breath both at rest and on exertion. As a fairly freshly minted new intern, I was still definitely getting the hang of things, and probably took way longer to do my history and physical exam, before I was finally ready to present to the attending who was staffing the emergency department that night…Read More
CURRENT STATE OF THE MARKET
Weekly Market Commentary 8.10.2020
Published by The Carson Group, LLC
The U.S. economy added 1.8 million jobs in July as hiring momentum in the service sector allowed many workers to reclaim lost jobs or get new ones. The pace of hiring slowed compared to gains of 2.7 million and 4.8 million in May and June. The slowing growth reflects consumer caution as new virus cases surge and the slowing pace of economic reopening…Read More
QUOTE OF THE WEEK:
“YOU ALWAYS GAIN BY GIVING”
– Reese Witherspoon –
Last week with the TFG Team…
Alexis Cedeno, our Client Service Coordinator, visited Bellvale Farm Creamery in Warwick, NY! You can always guarantee a beautiful sunset and the best ice cream! Alexis recommends the Honey & Lavender Ice Cream Flavor!
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Your financial well-being remains our top priority, and we will continue to serve you at the highest level. You can reach us during normal business hours, by email and by phone. Some advisors will hold virtual meetings to practice social distancing and will contact you with more details about that process. Please contact us with any questions. Additionally, please see resources for our clients about COVID-19 and the CARES Act. | COVID-19 Emergency Insurance Regulations: New York Residents