Retirement During COVID-19: What Has Changed?
While retirement is an exciting time, it can also be nerve-racking for many people. For some, living on a fixed income, coping with declining health, and dealing with the worry that they’ll outlive their savings is a concern. Unfortunately, retirement during COVID-19 has heightened risks. Transamerica Center for Retirement Studies Survey Transamerica Center for Retirement Studies conducted a survey in
Tax Deadline Extended to May 17th
Typically, you have until April 15th to file your taxes. This year, however, is different. In response to the pandemic, the IRS had the tax deadline extended to May 17th, 2021. This extension will give you an extra month to file your federal tax returns. If you need more time, you can still take advantage of the 5-month extension with
Why Are Interest Rates So Low?
There’s no denying that the Coronavirus pandemic has led to economic decline and uncertainty. As a result, the Federal Reserve has lowered interest rates. Rates will likely remain low until the end of 2023 as our economy recovers. So what’s the purpose of declining interest rates? The lowering of interest rates by The Fed intends to promote economic growth during
Empowering Women to Make Financial Decisions
It’s important for everyone, including women, to make smart financial decisions that steer them toward financial success. When women thrive financially, they may feel less financial stress leading to independence and the ability to accomplish various short and long-term goals. Here are several tips for empowering women in order to make better financial decisions for yourself: Develop a Financial Plan.
What You Need to Know- American Rescue Plan Act of 2021
The new stimulus plan may have an impact on your finances. The American Rescue Plan Act of 2021 is a $1.9 trillion relief package is designed to help struggling Americans overcome financial hardship. Here’s an overview of several of its most important components that relate to individuals: The Third Round of Stimulus Checks When the coronavirus pandemic hit, eligible adults
Equal Pay Day
Created by the National Committee on Pay Equity (NCPE) in 1996, Equal Pay Day highlights the gap between men’s and women’s wages. This gap often requires women to work longer than men for the same amount of pay. As a result, women may struggle financially or find themselves reliant on others to meet their financial goals. The Gender Pay Gap
What You Should Know About the 2021 Tax Season
Due to the pandemic and Coronavirus Aid, Relief, and Economic Security (CARES) Act, the 2021 tax season may look a bit different this year. By becoming familiar with certain deductions and rules, you may be able to potentially avoid costly mistakes. Here’s what you need to know for the unique 2021 tax season: Stimulus Payments are Not Taxable The IRS
What You Need to Know About the Continued Booming Housing Market
We’re in the middle of a global pandemic, so why booming housing market? After all, the economy is down, and countless Americans are struggling with their finances. After all, the economy is down, and countless Americans are struggling with their finances. Let’s take a closer look at several of the many reasons the housing market is so hot during these
How to Prepare for Retirement in a Post-COVID Era
If the coronavirus pandemic has taken a toll on your finances, you may need to rethink your retirement strategy if you’ve lost your job, work part-time, or transitioned to a lower paying job. Here are some tips that may help you prepare for retirement and create a financially secure future in a post-COVID era. Pay Off Debt The faster you
Women and Retirement
When it comes to retirement, women can experience more challenges saving for retirement than men. Some of these challenges include leaving the workforce to care for children or other family members and lower pay or challenges in finding full-time employment. According to the Transamerica Center for Retirement Studies, only 12% of women are very confident they can retire comfortably, compared