Before we get to why I believe that we should finally put an end to the outdated and unnecessary Required Minimum Distribution (RMD) rule, it is important to see how we got here. In 1986, as the popularity of the use of IRAs, 401(k)s and rollover IRAs grew, Congress began to become worried that these […]
Last week Brown University announced they would be offering an early retirement package to some of their staff. Dubbed the “Staff Voluntary Retirement Program”, Brown is clearly hoping to reduce payroll during a challenging time due to COVID. Brown University is the #8 employer in the state, so this could potentially affect a lot of […]
So what gives with the markets? Let’s use the S&P 500. It was down 33.9% from its 2020 high on February 19th to its low on March 23rd (shortest bear market on record). It then rebounded 31.9% until April 29th (a dizzying bounce) and has remained essentially flat ever since. Unfortunately, the S&P 500 is […]
I get this question a lot from friends and clients: “Should I refinance my mortgage?” The answer is not always so simple. In fact, many of us thought the days of refinancing were almost over (well…not literally) because s…
During these unprecedented times, many clients are wondering if their goals have been derailed and if so, what it will take to get them back on track. There is no doubt that things have changed, and as a result many of us will need to adjust accordingly. But just how much do you need to […]
In hindsight, it appears surprisingly easy to shut down an economy – we just did it in a few short weeks. I suspect it is much harder to open an economy back up again. What inspired so many Americans to shelter in place was a combination of worry for their own personal health and an […]
The relief bill known as the CARES Act was signed into law on Friday, March 27, 2020. It is designed to serve as a bridge between the time the US economy decelerates in response to Covid-19 and the time the economy is back up and running. Provisions of the CARES Act support a wide range […]
The first change I noticed was early last week, before any state of emergency had been declared in Rhode Island, Massachusetts, or the US. Suddenly, my commute was far easier than usual. I hit every light and breezed into work. By the end of the week I had shaved 20% off my commute time. I […]
Following yesterday’s sell off we wanted to share some thoughts and facts about the economy and the market. Lost in a new cycle filled with bad news, last Friday’s payroll report was the 113th month in a row with positive job growth here in the US. (The next closest record time period is 48 months!) […]
The recent downturn in the markets has been driven predominantly by the Coronavirus and high stock valuations. Any sustained market bounce is unlikely to take place before the risks presented by Covid-19 have abated. At the same time the economic impact of the virus is undergoing extensive assessment and review. In terms of the economy, […]
