A student leaves the Thurgood Marshal Elementary school after all Seattle Public Schools were abruptly closed due to coronavirus fears on March 11, 2020 in Seattle, Washington. Schools will be closed for a minimum of two weeks. The system is the largest public school district in Washington State. John Moore/Getty Images Distance learning got off
Jamie Grill | Getty Images I was raised one and two sentences at a time, my father’s clichés serving up life lessons at the kitchen table, after baseball practice or on the way home from school. He didn’t have the patience for long-winded lectures and couldn’t find his voice after biting his tongue at work
Siriluck Srikumbang / EyeEm Perhaps you are approaching retirement and getting a bit nervous from these wild market swings. It has, after all, been an emotional ride lately, and there are no signs of it letting up soon. You may be thinking: Is it time to “de-risk” your portfolio by dumping stocks and seeking the
shapecharge The Covid-19 pandemic has revealed how close so many Americans are to severe financial insecurity. Over these past four months, millions of American workers have experienced sudden and unexpected losses of their primary sources of income, either temporarily or, for many, permanently. While stimulus checks and enhanced unemployment benefits have filled in some gaps,
AleksandarNakic Our nation is facing unprecedented times, and financial advisors are facing upheaval when their clients need them the most. More than 40 million people have applied for unemployment benefits since early March, while the economic outlook remains grim. The Atlanta Federal Reserve projects that the nation’s gross domestic product during the second quarter will
Johannes Eisele/Getty Images The country is in a recession and it’s certainly unclear how long this downturn could last. Chances are that you or someone you know has taken a financial hit because of the sudden downturn. Now, the National Bureau of Economic Research has determined that the U.S. entered into a recession in February.
Just as many U.S. businesses were thrown off their guard by the coronavirus pandemic, so were financial advisory practices. Close to 1.8 million Americans have contracted Covid-19, and more than 100,000 people have perished from the disease, according to data from Johns Hopkins University. Lockdowns to minimize spread of the disease have also battered the
Martin Seay, president of the Financial Planning Association and chair of the Personal Financial Planning Program at Kansas State University. Financial Planning Association The coronavirus pandemic has forced businesses of all kinds to rethink how they work and interact with customers. Financial planning is no different. Martin Seay, president of the Financial Planning Association, perhaps
For the second time in 12 years, the U.S. economy and financial markets are facing an unexpected crisis of uncertain proportions. While the 2008 financial crisis and the current coronavirus pandemic are very different in character, both have produced extraordinary volatility in financial markets. Both downturns have also presented major challenges for financial advisors as they
Ariel Skelley Like everybody else in the country, David Yeske is getting a bit stir crazy. For the last eight weeks, the founder of registered investment advisor Yeske Buie has been managing his advisory practice and serving his roughly 500 clients from his home in San Francisco as the coronavirus has spread across the country.
Chad Springer It’s obvious we are living in highly uncertain times. Markets are extremely volatile, and monetary and fiscal policies change from day to day. Most clients are extremely anxious, unsure of how the market is going to move and how those moves will impact their portfolios. While financial advisors must continue being proactive –
Our brains are wired to look for danger and react quickly to an approaching attack; however, this most recent threat is invisible, but no less distressing to our primitive brains. Plummeting stock prices are sending some investors over the edge, leading to irrational behavior that has dire long-term financial repercussions. In his book, “Your Money
Photo by Ariel Skelley via Getty Images Markets have been a roller coaster ride in the weeks since the coronavirus pandemic reached the U.S. Most of the country’s financial advisors think we haven’t hit bottom yet, a survey finds. Despite periodic rallies — like Monday’s more than 7% rise of both the Dow Jones and
For decades, financial advisors have counseled clients that they should be able to safely withdraw 4% of their assets each year as a means of providing income, while maintaining an account balance large enough to keep income flowing through retirement. While some of the underlying thinking behind the so-called 4% rule was prudent, it was
JohnnyGreig | E+ | Getty Images We are in a challenging time, facing rapidly evolving information about the coronavirus and the effects on how we work and live. Markets continue to function and are reflecting this constant change, which means greater volatility. Those circumstances don’t make it easy for investors to stay in their seats.
There could be a tug of war brewing over which standard financial professionals should follow when they provide advice or sell products such as annuities to individual investors. The Securities and Exchange Commission is unveiling a new regulation, called Regulation Best Interest, which requires broker-dealers and professionals associated with them to keep their clients’ best
Ariel Skelley | DigitalVision | Getty Images For some financial advisors, the person behind the assets is the key to providing the best investment advice possible. That is, awareness of the nuanced differences that distinguish clients helps those advisors construct investment portfolios based on more than, say, a person’s age and how long until they
PeskyMonkey | iStock | Getty Images The bull market in U.S. stocks rolls on. From the trade war between the U.S. and China and the slowdown in global economic growth, to Britain’s messy exit from the European Union and the potential impeachment of President Trump, nothing has dampened the enthusiasm for stocks. The American economy
Find yourself struggling to manage your health-care costs in retirement? You’re not alone. As the cost of health care continues climbing faster than the rate of inflation and an aging population is living longer, many financial advisors are focused on the line item in their retired clients’ budgets more than ever. “It’s a cost we
Geber86 | E+ | Getty Images Staying in equities and embracing their risk and potential return just might make sense for some retirees. Older investors with a combination of pension income, Social Security benefits and income annuities have a measure of safety in retirement. “If you have a big pension and Social Security, maybe you