Who would have ever expected a rebound of historic proportions in stocks? However, since March 23rd—the height of pandemic uncertainty—major stock indexes have advanced nearly 40%!
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On this episode of Finance In A Flash, we discuss the negative effects of trying to time the market.
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Scam artists are always looking for new ways to prey on consumers. Now they are using the same tactics to take advantage of consumers' heightened financial and health concerns over the coronavirus pandemic. Here are some of the more prevalent coronavirus scams that consumers need to watch out for.
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On this episode of Finance In A Flash we continue our series on Financial Planning Opportunities Amid Market Downturns by covering Tax-Loss Harvesting. We go through the details of Tax-Loss Harvesting and the benefits of using this strategy during times when your investments have losses.
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On this episode of Finance In A Flash, Chip & Nick discuss the benefits of rebalancing your portfolio amid a market downturn. When the stock market declines, so does the stock percentage in your portfolio, meaning you have to buy more stocks to get to your target asset allocation. This can be advantageous in various ways, to which we discuss in this episode!
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As we help clients make long-term financial decisions, we also like to consider the probability of various negative outcomes. While we consider ourselves generally optimistic people, we believe that it is both important and helpful to also think about “worst case scenarios” - those financial uncertainties that have the potential to derail financial goals.
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Do you know the factors to consider when establishing an emergency savings account? How much cash is it appropriate to keep on hand in short term savings and money markets? Before we address the question, it is important to understand the important role cash plays in an overall financial plan.
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This web presentation discusses the importance of an Investment Policy Statement (IPS) when managing client portfolios.
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We at Beacon Financial Strategies, believe that rebalancing is an integral component of the investment management process. In this presentation, Chip Hymiller, AIF®,CFP® explains the concept of rebalancing and discusses the advantages of implementing a portfolio rebalancing strategy.
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Doesn’t it seem like the stock market should be down more in 2020? This article takes a deeper dive into the numbers and it turns out that when using more diversified definition of “the market,” stocks have taken quite a hit this year.
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2020 is turning out to be quite different from what many of us had planned on back in January. Not only are there changes in our day to day life, there are changes that could impact your financial life and what you had originally planned on doing this year. One of those changes relates to charitable gifting.
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Where is your stimulus payment? Will it be taxed later? Will I have to pay it back if the IRS sends me too much? Beacon answers all your questions concerning the Economic Stimulus payments.
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When a loved one passes away, the grief coupled with the burden of settling their estate can be overwhelming. Here are a few things you can do to make the estate settlement process easier for your heirs.
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On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. This $2 trillion emergency relief package is intended to assist individuals and businesses during the ongoing coronavirus pandemic and accompanying economic crisis. Here is a brief summary of some of the major provisions.
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As the days get warmer, many people are spring cleaning their homes, including all their old filing cabinets. Our clients often ask how long they need to hold on to all their old paperwork. Let’s examine the best practices for shredding your documents.
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This webinar provides a historical perspective to recent stock market declines related to COVID-19. It also provides some financial planning opportunities and ideas to explore in the future.
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Long term care costs are expensive and rising every year. For many, a two or three year stay in a skilled nursing facility could cost several hundred thousand dollars and potentially wipe out a retirement nest egg.
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With the Coronavirus causing disruption and uncertainty around the world. Chip Hymiller explains why keeping your perspective and staying calm during this time is so important to achieving your financial goals.
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A question we often get is “How much can I withdraw from my accounts during retirement and not deplete them?” That question coupled with the ideal stock/bond mix makes for an interesting discussion on how probable your retirement goals are.
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Tax season is upon us. Find out what you need to know to make this tax season painless and worry free!
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