You’ve likely heard that everyone should be saving 10% of their gross income toward retirement. This is sound advice and anyone would be better off following it; however, it can also be misleading. One’s “retirement success” (loosely defined as having enough money to cover your expenses throughout retirement) is in part a function of how much is saved, but there is much more at play here.
Respect the Role of Bonds in Your Investments
After a recent conversation with my mom I commented to my wife, “I just love my chats with mom. When I finish talking to her I feel so grounded.” I know I’m not alone. Moms can bring a calming, stable influence into our turbulent lives.
We all need this stability and grounding--emotionally and financially--especially when we’re feeling the wide swings. During a seminar I gave this week, I talked about a financial tool that can bring stability to our financial lives. While bond investments may be seen as the boring aspect of our investment portfolios, their role is crucial, especially when our investment portfolios are in need of some “grounding” of their own.
A Breakdown of Wyoming's New Guidance on Business Openings Starting May 1
This morning I attended a webinar hosted by the Wyoming Business Council. Several participants including members from the health and business community at the state-level, were on the call to discuss the latest updates to permit certain businesses to open, as long as certain measures are followed. They also discussed the newly issued guidance around variance and exception requests that businesses can make.
Enough Cash to Last a Crisis
The economic uncertainty due to COVID-19 has caused strain on businesses and households alike. Two weeks ago I wrote about the CARES Act and the variety of funding vehicles being rolled out to businesses and families, such as rebate checks (starting soon), penalty-free retirement distributions, and loan and loan forgiveness programs for small businesses and sole proprietors. These efforts are sure to help most Americans.
Still, times remain uncertain. Those filing for unemployment benefits in the U.S. topped 17 million last week over the course of just a three week period. Hopefully those benefits come sooner than later, but on a broader scale this has me thinking about how important it is to have access to cash in times like these.
I’d like to take some time today to consider sources of cash to help you and your family whether the financial storm we’re in, and future storms yet to come.
How the $2 Trillion CARES Act Benefits Individuals and Small Businesses
Last Friday, President Trump signed into law a massive piece of legislation, titled the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The law provides over $2 trillion (yes, trillion) of funding to everything from the health sector, state and local governments, large and small businesses, and of course, individuals and families.