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.
In recent months, the ups and downs of the stock market might feel more like a roller coaster ride which is enough to upset anyone’s stomach. While we are all looking for those green arrows, there can be opportunity in the red arrows. In fact, when we’re going through times of extreme stock market movements we are often asked, ‘how do I invest in a down market?” There is no blanket answer to that as everyone’s situation is unique. However, here are a couple points you may want to keep in mind:
One of the questions we are asked frequently at North Main Financial is how to navigate the endless increases in health insurance costs. There are a lot of variables that go in to determining that including your location, age, choice of plan, and current health condition just to name a few. It’s important to remember that everyone is different so consulting with an insurance professional can be a helpful way to identify what type of plan would work for you. Keeping that in mind, here are three considerations: