Congratulations, you are now a newlywed but now you have to talk money. What does that look like? How do you merge your finances?
We always look forward to sitting with newlyweds here at North Main Financial. It’s such an honor to go through the excitement and enjoyment of that occasion with each couple. Of course, we also talk about planning. Those plans can take on several looks but most specifically, here at North Main Financial, we are looking at financial plans.
A unique item that is happening in our macro economy, in terms of its impact and the headlines it has been generating, are tariffs. We receive a lot of questions about tariffs, especially those between the U.S. and China, and how they affect our economy and individual portfolios. Well, the not so popular answer is…it depends.
On September 1, 2020, the President’s office gave an executive order that would delay certain payroll taxes until 2021. You may or may not have been aware of this payroll tax holiday and may even be asking, what does it mean? Some of you may have already seen this in your paycheck in the form of more money but how does it work?
A question that is on the mind of many people is, are we headed for a recession? I’m going to give an answer that may shock you at first…yes. Before you panic, the answer is always yes because our economic system works in a cycle. We will never be absolved from recessions. There is a sense that there will always be a recession out ahead of us.
Is gold or silver a good investment for your portfolio? This is a question we receive with some regularity, especially when prices are going up. The not so favorable answer is it depends. Every situation is unique so you want to reach out to your advisor, or you can reach out to us here at North Main Financial Group, to see if this is the right move for you.
Here are three things to remember:
The emotional and psychological effects of divorce are far reaching. But what about the financial aspect of a divorce? People are usually not financially prepared for a divorce. For a couple getting divorced, there are many considerations when it comes to finances including children, assets, debt, the list goes on. Every situation is unique, but we’ve outlined a few big-picture ideas for you to reflect on if you find yourself experiencing this major life event.
One of the questions we receive a lot at North Main Financial Group is, “How do I get started with financial planning?” That’s usually followed up with questions about 401Ks, investing in the stock market, saving for college, insurance needs…the list goes on. It’s a big, broad question which can’t be answered in a few hundred words here. However, there are a few things to think about as you think about putting a financial plan in place and possibly consider consulting with a financial advisor.
Many of you have been watching the stock market over the last several months and it’s no surprise that’s it’s been quite a rollercoaster. In fact, if you think about it in terms of being on a boat and riding the waves of the ocean, it can make you quite seasick. There were huge negative movements in March of this year and since then, it’s almost been a V out when you think of it graphically. In fact, the market has gotten pretty close to where we were before the effects of COVID-19. So, what does that mean? It means a whole lot of things but here are a few key thoughts.
COVID-19 has turned our world upside down over the last four months or so. The effects have been far reaching on things like work, school, health, and of course, our economy. So, with regards to legislation, what are the current effects of the pandemic? Here are three things to be thinking about now: