These past several weeks are a good reminder of the value of humility in facing something not seen before. There potential economic implications of COVID-19 are significant, and there are learnings from past crises, even if they were different. Back to basics It is very difficult, but especially important, to rely on fundamentals at times like this. The disruption that COVID-19 brought forces all people to get back to basics…
There’s no question we’re all living in unsettled times. Global citizens and the world economy are under stress, and uncertainty is heightened in all aspects of our lives. People are worried about their health, and that of family, friends, neighbors. Some have temporarily or permanently lost jobs or taken a hit to their income. Leaders of many companies are forced to make difficult decisions. Social distancing is impacting the human…
In the midst of the COVID-19 pandemic, the term rebalancing now extends past investment portfolios as we all rebalance our lives around staying at home, creatively social distancing, and protecting our health. It is a rebalancing act that people did not anticipate; we’re all learning lessons that will linger on once this crisis is behind us. The rebalancing that WealthStep does for 401k plans and “WealthStep Direct” individual clients, however, is…
As we adjust to the effects of COVID-19 in our lives, stimulus package passed by Congress on March 27th may help individuals and small businesses. The Coronavirus Aid, Relief and Economic Security (CARES) Act, as well as previously announced tax filing relief, should help with business and personal cash flows and provide economic stimulus. In addition, prior action by the Federal Reserve to reduce interest rates and provide liquidity…
To help businesses survive the coronavirus economy, the government is providing support. If are in or run a small business adversely affected by the coronavirus directly or indirectly, explore the recent CARES Act Paycheck Protection Program (PPP) forgivable loan, Disaster Loan (& grant) Assistance, or Employee Retention Credit program. The PPP started 4/3/20 for small businesses, and 4/10/20 for sole proprietorships and independent contractors. These programs expects high application volume,…
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020, and includes provisions to assist retirement plan participants impacted by the COVID-19 pandemic, through financial help. The new law provides distribution and loan relief to participants if you have been diagnosed with coronavirus disease or if you have experienced adverse financial consequences due to the pandemic on account of being quarantined, furloughed, or…
Gain perspective about the confluence of events affecting the markets, including the coronavirus. What are the drivers of current volatility? Where do markets and diversified portfolios stand now? How does this market compare to the many volatile markets in the past? See how bad markets have strong recoveries. See why panic is not an investment strategy. See how an even bigger drop would still leave investors with solid medium-term average…
With the shelter in place in effect in Northern California since last Tuesday, and more places to come soon, many of having had to shift from going to the office to working from home. WealthStep is well set up to operate as a virtual office, and should not experience any interruptions. Here are a few remote tips we hope will help you. Make your life easier Upgrade your Internet service: Now…
