3 Steps To Take Back Control Of Your Schedule

Many are hoping President Joe Biden will take steps to ease what’s become a massive student debt problem. Supporters say that debt, more than $1.6 trillion currently, is holding back the American economy, keeping people from buying homes, getting married and otherwise taking their next steps in life.

In days past, premerger planning consisted of a series of face-to-face meetings, which allowed the buyer and seller to build a relationship before heading into legal and financial considerations. But remote RIAs don’t have the luxury of in-person meetings.

When the pandemic hit in early 2020 and the entire economy hunkered down, demand collapsed. We were not driving to work, going to restaurants, or taking vacations and business trips. Suddenly, there was gasoline at the gas stations with no takers, perishables that restaurants were not buying, and theme parks and malls shut down.

The Dow Jones Industrial Average hit a new record high on Wednesday while tech stocks dragged the other major U.S. indexes down. Verizon stock and Chevron stock helped to lead the Dow higher, gaining 5.19% and 3% respectively, after filings showed that Warren Buffett’s Berkshire Hathaway had large stakes in both companies.

Interest rates continue to remain low and that’s putting the potential for families to save tens of thousands of dollars by refinancing to a 15-year mortgage. Experts don’t see interest rates rising anytime soon. The Federal Reserve wants to keep people borrowing to stimulate the economy.

The Securities and Exchange Commission released the first proposed changes in the rules affecting advisor advertising in 40 years. But what did they change?

Making good financial decisions can be difficult, even for smart people. One reason is that most people make decisions based, in large part, on their biases and the emotions they are experiencing at the time rather than a thorough review of the facts.

January was a month of transition. Markets took a break, with small gains or declines. The presidential inauguration handed the reins from the Trump administration to the Biden administration. What will February and March bring?

Talking about money may be one of the most difficult conversations to have with family, but, ironically, they can help to strengthen the bonds. Family meetings can provide a platform for healthy dialogue on topics that may never be discussed without such an opportunity.

In the coming weeks, Congress will begin hearings to address the GameStop frenzy that hit the market two weeks ago, when a band of casual traders on Reddit pushed up the company’s stock price so hedge funds who bet on the price going down would lose billions.

Some prospective retirees may look forward to traveling once they no longer have to go to work each day, while others may plan to return to school. Regardless of how adults envision spending their retirement, they’re going to need money when they’re no longer being paid by their employers.

Nearly three-quarters (70%) of Americans are considering adding another source of income after witnessing the economic damage caused by the COVID-19 pandemic, according to a survey released today from the National Association of Personal Financial Advisors (NAPFA).

During the financial crisis, the American Recovery and Reinvestment Act of 2009 was passed to stimulate the economy. It appeared to have little impact, as the economy grew at an average rate of 2.3% for eight years. Will a stimulus have a different result this time.

A key determining factor of someone’s ability to build wealth in America is homeownership, and as retirement faces a mounting series of challenges, that ability to build wealth can factor crucially to an older individual’s retirement plans. Employing the housing asset can be an important piece of building wealth, Forbes says.

According to Conning, high dividend equity strategies can serve institutional investors in this period of low interest rates by enhancing income and portfolio diversification along with the potential for capital appreciation.

Cetera announced a deal today to acquire certain assets related to the independent financial planning channel of Voya Financial Advisors (VFA). Through this acquisition, VFA independent financial professionals providing holistic financial planning to 385,000 retail customers with nearly $40 billion in assets will become part of Cetera.

The Securities and Exchange Commission today charged three individuals and their affiliated entities with running a Ponzi-like scheme that raised over $1.7 billion from securities issued by a New York-based asset management firm and registered investment adviser, GPB Capital.

The Securities and Exchange Commission today charged Joseph Jackson and Colm Callan, respectively the former CEO and CFO of WageWorks Inc. with making false and misleading statements and omissions, including to the company’s auditors.

A new research report reveals that while nearly half of mid-size bank and credit union executives are more optimistic about 2021 relative to 2020, they remain especially concerned about the interest rate environment and a weak economy.

The Securities and Exchange Commission Monday charged three individuals with defrauding hundreds of retail investors out of more than $11 million through two fraudulent and unregistered digital asset securities offerings.

Trading in shares of AMC Entertainment Holdings was restricted yesterday on several trading platforms, but the company has taken advantage of its sudden popularity this week to give itself extra financial boosts and to be better prepared for a recovery in US consumer spending.

The incredible action from some of the most heavily shorted names has investors everywhere wondering what it all means? GameStop (GME) specifically has taken the country’s imagination by storm, as the stock started the year under $20 per share.

This week, we are going to discuss income taxes related to required minimum distributions from retirement accounts. The CARES Act was passed in March to deal with the economic destruction going on because of the pandemic. Anyone who was born in 1949 or earlier will be 72 by Dec. 31, 2021, and must withdraw funds according to the rules.

The SEC has charged Vuuzle Media Corporation, a purported online live streaming and entertainment company, and its founder Ronald Shane Flynn (a.k.a. Ronnie Shane) with fraudulently offering over $14 million in securities to investors across the United States using an aggressive boiler room sales scheme.

Appearing on the inaugural 2021 Allianz Global webcast Tuesday, Guy Adami of CNBC’s “Fast Money” did not hold back his concerns about corporate recklessness. Fueling that recklessness is a Federal Reserve that has been “extraordinarily accommodative” over the past 12 years or so, Adami said.

For many Americans, 2020 was a challenging year, as people of all creeds-families large and small; younger generations and seniors; essential and non-essential workers-adapted to changes brought forth by the COVID-19 pandemic and the resulting economic downturn.

For most people, life is busy and thinking about finances takes a back seat, said Martin Seay, department head and associate professor in Kansas State University’s Department of Personal Financial Planning. Financial advisors can help clients get an annual checkup of sorts, financially speaking.

Sports Illustrated magazine collected a few years ago in an article that 78% of National Football League players filed for bankruptcy or financial stress within two years of retirement and approximately 60% of NBA players are ruined within five years of retirement.

The Senate confirmed Janet Yellen as the first woman to head the Treasury Department on Monday. In an 84-15 vote lawmakers approved Yellen to serve as Treasury secretary as Congress moves to weigh in on President Joe Biden’s cabinet selections while bracing for the second impeachment trial of former President Donald Trump.

Financial market history will show 2020 as a year that saw the shortest bear market on record as the initial outbreak of COVID-19 and fears about its rapid spread triggered a 34% decline in the S&P 500. While this stock price drop was on par with the average bear market, the downturn ended in just over a month’s time.

Women investors in 2020 reported significantly higher levels of concern about a U.S. economic recession in the next 12 months than they did in 2019 as well as greater concern about a bear market in the next 12 months than they did the prior year, according to Nationwide’s Advisor Authority study.

As the pandemic enters its most intensive phase yet and job growth stalls, just 39% of Americans surveyed say they could comfortably cover an unexpected expense of $1,000. Underscoring the shaky finances of many Americans, Bankrate’s January Financial Security Index finds that fewer than 4 in 10 U.S. adults could absorb the cost.

WASHINGTON, Jan 21- Janet Yellen, President Joe Biden’s nominee for U.S. Treasury Secretary, highlighted the new government’s focus on domestic investment to improve workers’ position and infrastructure projects before embarking on new trade agreements. Yellen, whose nomination will be put to a vote in the Senate Finance Committee at 1500 GMT on Friday, was…

The Securities and Exchange Commission announced today that President Joe Biden designated Allison Herren Lee as acting chair of the agency. Biden plans to nominate Gary Gensler as chairman of the SEC. Lee will serve as acting chair until the Senate completes Gensler’s confirmation hearing.

The annual out-of-pocket costs for traditional medical expenses likely will be about $4,500 to $6,500 per year, per person — not insignificant, but certainly a number that can be addressed by careful planning. But there’s one more expense to keep in mind: long-term care.

Setting money goals in 2020 was likely an exercise in futility. In fact, 29% of Americans with financial goals for 2020 said COVID-19 forced them to put some of those aspirations on hold until 2021, according to a NerdWallet survey conducted online in late fall by The Harris Poll among over 1,700 U.S. adults with 2020 financial goals.

The out-of-the-blue economic jolt of the pandemic set off an urge among many households to double down on building emergency savings. A T. Rowe Price survey of still-employed retirement savers last summer reported that 50% said saving for emergencies was a major financial objective, up from 38% the previous year.

Inflation is an economic phenomenon of price increases. Traditionally a result of increased raw material pricing (like steel or lumber), inflation also occurs when there is increased demand or less supply. Both roads lead in one direction: higher prices.

The economic news has continued to soften in recent days. December saw layoffs go up and the number of jobs decline, and, this morning, the retail sales numbers dropped. Consumer confidence has gone down. Clearly, the economic headwinds from the pandemic are getting worse.

A big part of being financially fit is managing risk. For example, to manage the risk that we die prematurely, we get life insurance. We all have heard the stories of when you could get a gallon of gas for less than 25 cents.

Refinancing your student loans can help you save thousands of dollars in interest and pay them down faster, allowing you to save money for an emergency or other purposes. Interest rates are extremely low right now since the Federal Reserve kept short-term interest rates at nearly zero to try to stimulate the economy.

WILMINGTON, Del.- President-elect Joe Biden released initial details of a $1.9 trillion coronavirus relief plan that aims to stem the surging pandemic, speed up vaccinations and provide further financial help to Americans, as well as local governments and businesses dealing with almost a year of economic declines. Biden is also asking for Congress to approve…

Financial services trade associations raise substantial sums of political action committee funds, money that supports lobbying efforts on important issues. In light of last week’s mob attack on the Capitol and the tense political atmosphere, trade associations are reviewing donor policies.

Many economists are largely positive on the economy going forward: financially speaking, the COVID-19 pandemic could’ve been a lot worse, and we’re well on our way to recovery. Several sectors remain strong, such as the housing market, even as the pandemic continues to shrink overall production.

The Securities and Exchange Commission today charged fund manager Eric C. Malley and his company MG Capital Management L.P. with defrauding retail investors in two real estate funds managed by MG Capital.

Certified Financial Planner Board of Standards reported strong increases in the number and the diversity of CFP professionals in 2020. The number of CFP professionals reached an all-time high of 88,726, a growth of 2.7% over 2019 numbers.

Your clients’ ability to retire early depends somewhat on what sort of lifestyle they’re anticipating during their retirement years. If they plan on traveling extensively or pursuing expensive activities, they might not be able to afford to retire as early as someone with more modest ambitions.

Retirement savers who have built up sizeable balances in tax-deferred retirement accounts like traditional IRAs and 401 plans, may at some point want to consider converting some of these balances to Roth IRAs. Whether paying tax today in exchange for tax-free future withdrawals makes sense depends on several factors.

—Newly released transcripts show that many Federal Reserve officials had concerns in late 2015 over whether they were making a mistake in raising a key interest rate for the first time in nearly decade. The Fed manages interest rates to achieve two goals— keeping inflation under control while promoting maximum employment.

As part of coordinated resolutions with the SEC and the Department of Justice, Deutsche Bank has agreed to pay more than $120 million, which includes more than $43 million to settle the SEC’s charges.

The effects of 10 months of pandemic followed by a politically inspired riot on U.S. Capitol grounds in the last weeks of a presidential term would ordinarily torpedo the stock market. But the Dow Jones Industrial Average (DJIA), S&P 500 and other indexes have not only stayed strong, they have also hit record highs during in the first days of 2021.

Homebuying can be overwhelming and stressful, and that’s when you’re trying to purchase property in normal times. Opting to buy a home during the current climate, amid the coronavirus pandemic, can add even more uncertainty and stress.

As of December, U.S. employment remains 9.8 million jobs below its pre-COVID peak. The spending by consumers on services has recovered only 66% of the losses from the spring lockdown. The pandemic’s current, more deadly wave promises to reinforce and worsen this disruption.

The Congressional Review Act was a little-used device that Republicans used frequently early in the Trump presidency. It’s a model that a Democrat-controlled Senate could employ to kill two rules that invited public scorn.

The disinvestment during the pandemic, especially in developing regions, will compound over the decade, slowing down the economic spurt expected as the pandemic subsides, according to the World Bank Global Economic Prospects report.

JPMorgan Chase strategists say that the cryptocurrency Bitcoin could reach $146,000 in the long term as it starts to challenge gold as an asset class. The forecast, put forth by strategists Nikolaos Panigirtzoglou, said in a note Monday that Bitcoin’s market capitalization, which is currently about $575 billion, would have to jump 4.6 times to reach gold investment levels.

For many of us, the New Year means a fresh start and the chance to set new goals. As you consider your resolutions, you may want to add “strengthen my financial foundation” to the list. Here are five ways you can put yourself on firmer financial footing in 2021.

The COVID-19 pandemic has accelerated the cost of nursing home care as providers have had to implement new safety and training protocols and buy more personal protective equipment for employees, said Gordon Saunders, a senior brand marketing manager at Genworth who manages the annual survey.

As we enter 2021, most of us are anxiously awaiting a happier year ahead. Traditionally, we mark the fresh calendar year with New Year’ s resolutions to keep us hopeful and motivated— particularly when it comes to our finances. But here are three financial resolutions to warn your clients to stay away from.

Readers had service on the mind in 2020, as COVID-19 wrecked the economy and made face-to-face service next to impossible. The most-read stories at Advisor News reflected that service anxiety.

If 2020 has taught us anything, it’s to be prepared for anything and everything. This mindset should also extend to your finances. Here are some end of year financial planning steps advisors should encourage clients to take to ensure starting 2021 on the right foot.

The Securities and Exchange Commission today charged Gregory Altieri, of Melville, New York, for operating a fraudulent Ponzi-like scheme that defrauded current and retired police officers and firefighters, among others, and misappropriating investor funds.

The Securities and Exchange Commission today announced that it filed an emergency action and obtained an order imposing an asset freeze and other emergency relief against Virgil Capital LLC and its affiliated companies in connection with an alleged securities fraud.

The Securities and Exchange Commission today announced that President Donald J. Trump has designated Elad L. Roisman as Acting Chairman of the agency.

While it’s difficult to call 2020 the worst year ever, it’s certainly a top contender. When you look through history, there were plagues in early times that wiped out massive amounts of the population. Yes, far worse than the coronavirus pandemic. Here are a few years that were surely worse than 2020.

Securing startup funding can be a barrier for entrepreneurs trying to get a new business off the ground. For many owners, the idea of asking a bank or single lender for thousands or even millions of dollars adds an entirely new layer of stress on top of the already overwhelming task of launching a business.

Usually, pulling out money from a tax-deferred account before age 59½ would set off a 10% penalty on top of any income taxes. But under the temporary rules that are part of the coronavirus relief bill, people with pandemic-related financial troubles can withdraw up to $100,000 from any combination of their tax-deferred plans.

According to research from RBC Capital Markets that has tracked the returns of the S&P 500 dating back to 1933, the best outcomes for markets have been with a Democratic president and split Congress, with an average annual return of 14%. The second best outcome was a tie between a full Republican sweep and a Democratic president with a Republican Congress.

The evidence produced by economists, scientists and mathematicians is impossible to ignore: The world’s financial markets are complex beyond our cognitive abilities and fundamentally unpredictable.

The Securities and Exchange Commission announced today that it has filed an action against Ripple Labs Inc. and two of its executives, who are also significant security holders, alleging that they raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.