The global economy continues to slow rapidly, based on key data released last week. In the U.S., retail sales dropped 16.4% from March to April. Individuals cut back on purchases due to risks from the coronavirus, lockdowns, and declining income from job losses. The drop increases to 21.6% when compared to one year ago. Industrial production showed similar weakness, falling 13.7%.Read More
You may be in isolation, but that doesn’t mean you’re alone. Your team of professionals – from your advisor, to your insurance providers, to your bank – should be going to work for you in these unprecedented times.
But how do you know if you’re receiving the value you should from your financial advisor? We put together 10 questions to help you determine how much value you’re receiving from your advisor.
By: Mike Gertsema, CEO & Wealth Advisor Most investors are very concerned about the markets, the economy, their health, their family’s health, whether they’re going to lose all their money, and will we ever get back to the good old days? Of all the things we worry about, which of them are we really in control of? Most people we meet with have most of the above concerns and our job as financial advisors is to help them realize they do have control over more than they originally thought. Our focus is on their financial future and taking advantage of...read the full articleRead More
The U.S. jobs report confirmed what was already known: millions of Americans are losing their jobs. The monthly payrolls report estimated a decline of 20.5 million jobs last month. The unemployment rate rose to 14.7%, which is estimated to be the highest since the Great Depression. A broad measure of employment estimates 51.3% of Americans have a job.Read More
Have you considered skipping your required minimum distributions (RMDs) in 2020? The CARES Act – a relief package passed as the coronavirus pandemic shakes the economy – gives you that opportunity. Before you waive your RMDs, you need to know what you stand to gain and how the CARES Act and another piece of landmark retirement legislation, the SECURE Act, play together. Click Here to Watch the WebinarRead More
Warmer weather comes with a few traditions: well-kept lawns, baseball stadium lights, open windows. And every year in May and June you’ll see the balloons on stop signs and borrowed folding tables in the open garage, proud parents snapping pictures. The graduation party is a universal rite of passage.Read More
By: Nick Gertsema, AIF®, RICP®, Vice President & Wealth Advisor When we are preparing and updating financial plans for clients and prospects, we like to look at prior years’ tax returns. Ideally, we like to see returns for the last few years. There are very important pieces of information in your tax returns that can help give us some insight so we can provide better advice. We are not tax preparers, nor do we want to be, so why would a financial advisor review income tax returns? There are a few questions we are trying to answer, and some important...read the full articleRead More
Economic news indicated the economic damage from COVID-19 continues to grow. U.S. gross domestic product shrank 4.8% in the face of the coronavirus and social distancing designed to combat its spread. Next quarter, expectations are for a nearly 30% decline. Initial unemployment claims fell to 3.8 million. The number of claims remains high, and the six-week total is more than 30 million.Read More
Leaders around the world announced steps to open up their economies by gradually reducing social distancing as the global economy continued to struggle. In the U.S., more than four million people filed initial claims for unemployment.Read More