Coronavirus relief act waives 2020 RMDs

By: Elliot Raphaelson
Posted on: June 09, 2020

The recent coronavirus relief legislation, or CARES Act, made several important changes affecting charitable deductions as well as Required Minimum Distributions (RMDs).  It increased the charitable contribution deduction that a taxpayer is entitled to claim for cash contributions made to most public charities during the 2020 calendar year.  Prior to the CARES Act, contributing to... READ MORE

Tips before you adopt or buy a puppy

By: Courtney Jespersen
Posted on: June 04, 2020

Puppies provide us with comfort, happiness and love. But bringing a four-legged friend into your daily life is quite an investment — a pup requires a considerable amount of your time, money and attention. Here’s what to know and do before bringing Fido home: Evaluate your budget, lifestyle Ensure that you’re ready for a puppy and everything that goes along with one. Your new... READ MORE

Stop ‘dollar-cost ravaging’ your portfolio

By: Jason Lambert
Posted on: May 18, 2020

If you aren’t familiar with the 4% rule, it asserts that retirees are unlikely to run out of money as long as they withdraw approximately 4% from their portfolios, adjusted for inflation, each year. It was created in the 1990s, based on stock and bond returns over a 50-year period, from 1926 to 1976. And it made sense for many folks — for a while. But times change, and so does... READ MORE

How to raid retirement funds in a crisis

By: Liz Weston
Posted on: May 15, 2020

In an ideal world, your retirement accounts would be left alone for retirement. But you’ve probably noticed that we’re not living in an ideal world. Early withdrawals can have serious repercussions, including big tax bills today and potential shortfalls in the future. Please look for other solutions first. You might: —  Halt ongoing retirement contributions to free up... READ MORE

Where to turn amid bond market chaos?

By: Jeffrey R. Kosnett
Posted on: May 13, 2020

I won’t mince words: “Lower for longer,” my overriding view of fixed-income yields, is trending toward “lowest imaginable.” Expect the imminent return of zero, or near-zero, rates on money market funds, three- and six-month certificates of deposit (CDs) and bank deposits. Bonds with 4% and 5% coupons will be called in bunches by their issuers. Mortgage refis will cut the payouts... READ MORE

When will the U.S. economy recover?

By: Anne Kates Smith
Posted on: May 11, 2020

Mark Zandi is the chief economist of Moody’s Analytics. He spoke with Kiplinger’s Anne Kates Smith in a series of interviews on March 26 and 27. This is an edited transcript of their conversations. Q. What’s your outlook for the economy? How deep a recession do you see? A: It’s going to be a struggle between now and this time next year. We’re in the teeth of the downturn now.... READ MORE