Posts by Marcus F. Johnson, CFPⓇ
Estate Planning in a Pandemic
While the majority of the 60,000 U.S. deaths caused by the coronavirus have been individuals at higher risk due to age or pre-existing health conditions, we have all seen reports of younger, seemingly healthy men and women who have become very ill and in some cases, even succumbed to COVID-19. Witnessing a new virus turn…
Read MoreDefeat the Villains
To say we all have a lot on our minds these days is a massive understatement. Unfortunately, bad actors and scammers know we are preoccupied. And, as they often do in a crisis, they’re ramping up their nefarious activities. There has been an increase in email and text message phishing, social media posts and fake…
Read MoreHealth Provisions in COVID-19 Stimulus Legislation
Recent COVID-19 stimulus packages allocated billions to health care providers for eligible expenses to combat the disease and included health-related provisions directly impacting individuals, such as: Sick leave and family leave: Under the Families First Coronavirus Response Act (FFCRA), private-sector companies with fewer than 500 employees and certain public employers must pay qualifying employees up…
Read MoreWhat You Should Know About CARES Stimulus Checks
The third COVID-19 stimulus package, the Coronavirus Aid, Relief and Economic Security (CARES) Act, which passed March 27, includes stimulus checks to qualifying individuals ($1,200), married couples filing jointly ($2,400) and parents with children under 17 ($500 for each child). Who qualifies: To receive a check, you must be a U.S. citizen or legal resident,…
Read MoreRethinking Required Minimum Distributions in 2020
Last week President Trump signed into law the bipartisan COVID-19 stimulus bill. One of the facets of the bill includes welcome tax relief for retirees. The required minimum distribution (RMD) rules for IRAs and 401(k)s are waived for 2020. This means that you don’t have to take money out this year and can keep it…
Read MoreHow CARES Act Affects Individuals
President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act into law March 27. In addition to hundreds of billions of dollars in funding to businesses, healthcare and state and local governments, the CARES Act includes these measures directly impacting individuals: Taxes and payments: Individual tax filers who had an adjusted gross income…
Read MoreQuarterly Market Update 2020-Q1
It is said that March comes in like a lion and out like a lamb. This year was reversed and the “COVID-19 lion” still lingers. Who knew on March 1st that our world would be turned upside down in four short weeks? When March began, there had been only one U.S. death from the virus. During that first…
Read MorePositive Steps to Combat COVID-19
March 30, 2020 Negative headlines have pervaded our consciousness since the stock market crash began on March 9 and the World Health Organization declared COVID-19 a pandemic on March 11. And, they continue to abound as confirmed cases multiply across the U.S. But there is still encouraging news to be found. In a CNBC interview…
Read MoreHope in the Midst of the Storm
March 23, 2020 Most Americans have never encountered the kinds of health concerns we now face. Sobering warnings out of Italy and from our own experts have led families, businesses and local governments to take drastic measures to reduce the spread of COVID-19, or the novel coronavirus. Americans’ willingness to make sacrifices to keep ourselves…
Read MoreSaving a little bit at a time
According to a recent Bankrate survey, 21 percent of Americans don’t save any portion of their annual income. Twenty percent save 5 percent or less, and only 16 percent save more than 15 percent. No matter where you find yourself, the following psychological tricks may help you increase your savings rate in the upcoming year.…
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