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Do you have a Plan for your Financial Life? 

If you haven't yet created one, you should. If you haven't revisited your plan in some time, now is the time. Use our Client Profile Worksheet below to help you get started. If you are not sure why you should get started, use the link below to read why a plan is so important!  We are here to help. Call or stop in anytime. 

Client Profile Worksheet

GZERO with Ian Bremmer

Ian Bremmer, a renowned political scientist, entrepreneur and bestselling author, shares his perspective on recent global events and interviews the world leaders, experts and newsmakers shaping today’s international politics. Distributed nationally by American Public Television(opens in new window).

If a Financial Advisor Can’t Say “Yes” to These Two Questions…

“Conflicts of interest in retirement advice cost American families an estimated $17 billion a year.”  Pam Kruger from MarketWatch offers advice on how to investigate whether a financial advisor is working in an investor’s best interest.  Fee-only financial planners have a fiduciary responsibility to act in clients’ best interests whereas registered representative earn commissions on trades and sales.  While “Reg BI” was enacted to increase brokers’ fiduciary responsibilities, its definition is nebulous and does not prohibit them from making tons of commissions by recommending new investment vehicles.

What is a celebrity SPAC?

Jim Cramer of CNBC shares his thoughts on the celebrities jumping on the SPAC bandwagon.  These specialty acquisitions companies often buy private companies in the hopes of merging with a target enterprise.  According to Cramer, SPACs raised over $23 million in January 2021.

Work from Home Tips

Justin Bariso's advice in his Inc. article on meeting the unique challenges of working at one's kitchen table including distractions, scheduling and cranky officemates.  Self care should be part of this new work-life scenario such as staying hydrated, eating well and taking a break to fit in some vitamin D and exercise with a walk around the block instead of a trip down the hall.  

Market Watch on Seeking Financial Advice

In this time of uncertainty, professional advice is more important than ever.  Many financial planners, like Chatham Wealth Management, are adjusting to this new environment.  As in any market, it is important to create a financial plan and craft a portfolio around it.

How did Americans use their stimulus checks?

According The Economist under half of the $2.2 trillion was spent.  Americans put 27% of the funds into savings while they used 31% to pay down debts.  Furthermore, 40% of recipients did not spend ANY of the funds given them by a federal government hoping to boost consumption during the pandemic.  What might these numbers mean for future stimulus legislation?

IRS Issues Guidance on Changes to Loans and Withdrawals due to COVID Hardship

Brian Herschberg wades into some of the changes to impacting retirement plans in this Barron’s summary.  Since the passage of the Cares Act in March, the IRS has issued guidance on changes to loans and withdrawals due to coronavirus-related financial hardships to allow for non-penalty sources of funds for many Americans.  The government is also providing flexibility for required minimum distributions from IRAs including those that are inherited.  While many questions remain, Barron’s provides some answers.

Good News:  We might be in for a mild flu season.

Preliminary data suggests that flu infections in the southern hemisphere have been down signficantly this year.  The Economist investigates how covid-19 precautions may have slowed the spread of another potentially deadly virus during that hemisphere’s winter the last few months.