GIVE YOUR FINANCIAL PLAN A COVID ANALYSIS WHAT PANDEMIC CHANGES CAN YOU APPLY TO YOUR LIFESTYLE? WHICH ACTIVITIES REALLY MATTERED, WHICH DIDN’T? WHICH EXPENDITURES WERE CRITICAL, WHICH WERE SECONDARY? Watch the related WEALTHTRACK episode.
ADD SOME BOND ALTERNATIVES TO YOUR PORTFOLIO Interest rates at historic lows Federal Reserve intends to keep rates low for the foreseeable future POSSIBLE ALTERNATIVE INCOME SOURCES: Immediate and deferred income annuities Structured notes Dividend-paying stocks Maximizing social security benefits Watch the related WEALTHTRACK episode.
REASSESS YOUR EXPENSES COVID-19 a wakeup call Doing without many activities Many former luxuries, not necessities Watch the related WEALTHTRACK episode.
REBALANCE SOME OF YOUR U.S. STOCK EXPOSURE TO FOREIGN STOCKS U.S. market has outperformed foreign markets over the last decade Trim some U.S. holdings and add to some overseas markets Consider markets you are underexposed to and/or are unpopular Watch the related WEALTHTRACK episode.
NORLEY: PLANNED PHILANTHROPY Make charitable giving part of your financial plan Americans give away hundreds of billions a year Need to plan for it financially USNIK: VALUABLE ADVICE CEOs and philanthropists should create a sounding board of millennials Get their views on issues that matter to you Millennials are the employees, customers and investors of […]
TAKE FULL ADVANTAGE OF TAX DEFERRED SAVINGS PLANS 2019 ALLOWED CONTRIBUTIONS RISING 401(k) OR SIMILAR WORKPLACE RETIREMENT PLAN: $19,000 for under age 50 $6000 catch-up contribution for age 50 or older remains the same INDIVIDUAL RETIREMENT ACCOUNTS – I.R.A.’s: $6000 for under age 50 $7000 for age 50 or older HEALTH SAVINGS ACCOUNTS – H.S.A.’s: […]