Fee-Only Financial Planning Advice

Be on the Alert for Coronavirus Scams

Apr 22 2020

The FTC has received over 20,000 COVID-19 related complaints since January 1, 2020.

Fraudsters and 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. Federal, state, and local law enforcement have begun issuing warnings on the surge of coronavirus scams and how consumers can protect themselves. Here are some of the more prevalent coronavirus scams that consumers need to watch out for.

Schemes related to economic impact payments

The IRS recently issued a warning about various

The Coronavirus Pandemic Has Made Some Women Even More Economically Vulnerable

Apr 21 2020

We’ve discussed the gender pay gap and women’s overall economic vulnerability and all that was before we all had to meet the challenges of a worldwide pandemic. Many people have lost work due to the shuttering of the economy and according to CNBC, “Women May Take an Extra Hit from the Coronavirus Pandemic” because women “…are less able to weather that job loss without real harm because they are typically paid less than men in the same occupation.” And women who do find ways to get hired (either now or after orders to shelter in place are …

Financial Planning in Times of Crisis

Mar 31 2020

We recently saw a social media post warning people not to look at their 401(k) accounts as we are in the midst of a global pandemic related to the spread of COVID-19. And as many have noted, it is possible that if the illness itself doesn’t get you, then anxiety and worry could wear you down instead. You may or may not choose to look at your retirement accounts but you cannot ignore the need for financial planning at this time. Certain industries, companies, and individuals will see a loss of income and it is how they manage to recover …

‘You Make Most Of Your Money In A Bear Market; You Just Don’t Realize It At The Time’

Mar 31 2020

Vitaliy Katsenelson, chief investment officer at Investment Management Associates in Denver, Colo, has written a nice opinion piece for MarketWatch entitled, “Surviving the coronavirus crash: ‘You make most of your money in a bear market; you just don’t realize it at the time’ .” Katsenelson’s first two paragraphs set the tone for the article:

With stock prices sinking fast, a client emailed me saying, “Your move, boss.” So here is our move: Especially in this coronavirus crash, we continue to seek out what we always look for globally — high-quality businesses that we can buy at a significant discount

Update: Tax & IRA Deadline

Mar 30 2020

Over the past several years, you have seen several posts from Albion’s Senior Wealth Advising team designed to help you and your family make a lifetime of good financial decisions.

The first step in making any good decision is to understand the relevant facts. However, given recent events, there have been a plethora of changes that have come out over a very short period. Understandably, it is difficult for anyone to keep up with all these changes.

Our goal in this post, and those coming soon, is to help keep you informed on some of the …

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Schemes related to economic impact payments