Category: Insurance

Congress encourages Americans to save for retirement by investing in tax-deferred accounts where the earnings and certain contributions can grow free from the dilution of taxes. But eventually, the IRS wants that money out of those accounts and a percentage of it into the tax coffers.

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Stocks ended Friday’s volatile session mixed; the NASDAQ ended lower while the S&P and Dow Jones rose. The three major indices all posted steep losses for the week. The NASDAQ experienced its worst weekly decline since March.

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Increasingly popular estate planning vehicles, trusts can ensure individuals’ assets are distributed as they wish after their death and save their family time, money and paperwork. Although there are dozens of different trusts, they fall under four basic categories.

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Despite August’s positive jobs report, stocks fell Friday, and the three major indices saw steep declines for the week. The S&P experienced its worst day in nearly three months. For the week, the Dow fell 1.73 percent to close at 28,133.31. The S&P lost 2.27 percent to finish at 3,426.96, and the NASDAQ dropped 3.25 percent to end the week at 11,313.13.

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Stocks ended mostly flat on Friday, with the S&P still failing to achieve a record high. The market appeared to be treading water as investors reacted to modestly improving retail sales and stalled stimulus talks as the Senate adjourned for its August recess.

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Stocks were mixed Friday, thanks to a slightly better-than-expected July jobs report and gridlock between Democratic leaders and the White House over the next stimulus package.

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Income restrictions limit who can open a Roth, but since 2010, anyone – regardless of income – has been able to convert assets from a traditional IRA to a Roth IRA. Unique circumstances in 2020 have more investors now considering Roth rollovers.

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Stocks closed Friday’s session and the month of July higher after trading lower earlier in the day. Uncertainty over the next stimulus package and falling consumer sentiment weighed on investors while strong quarterly earnings among major tech companies buoyed investors. The S&P achieved its fourth weekly gain, and the three major indices posted their fourth month of gains. For the week, the Dow fell 0.15 percent to close at 26,428.32. The S&P gained 1.75 percent to finish at 3,271.12, and the NASDAQ climbed 3.70 percent to end the week at 10,745.27.

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Stocks were mixed Friday. Despite surging coronavirus cases, investors appeared relatively optimistic about potential vaccines for COVID-19 and a post-pandemic economic recovery. For the week, the Dow rose 2.32 percent to close at 26,671.95. The S&P gained 1.27 percent to finish at 3,224.73, and the NASDAQ fell 1.08 percent to end the week at 10,503.19.

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estate planning older couple

Witnessing a new virus turn life upside down in such a short time demonstrates the importance of having a thorough, up-to-date estate plan. Considering how difficult – if not impossible – it could be to create estate documents during the isolation imposed on COVID hospital patients creates an even greater urgency.

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