In 2000, actors Helen Hunt and Kevin Spacey starred in “Pay It Forward.” The premise of the film is that a person repays a favor by offering small acts of kindness to more people. This concept of paying it forward leads to an exponential movement of goodwill. Social Security works a bit like that. In…

Consumer prices fell by 0.8% on a seasonally adjusted basis in April, the biggest drop in more than a dozen years, the Bureau of Labor Statistics reported. Conversely, prices for grocery items jumped 2.6%, the highest one-month increase in 46 years, with eggs rising by 16%. So the big question is… What Might Be Next…

Preservation Specialists, LLC | It will be interesting to see how the job market fares over the next few months. While millions of workers have been laid off due to the coronavirus pandemic, many of those employers will be reopening and may or may not rehire those let go. Much depends on the direction of…

In normal times, the stock market is often a reflection of the economy. But these are not normal times. Even though April was marked by a global shutdown of businesses, rampant unemployment and low economic growth, the S&P 500 Index ended the month up 12.9%. This represented the highest one-month gain since 1987 and posted…

Sole proprietors in the U.S. caught a huge break in April. The Paycheck Protection Program, borne out of the economic hardship caused by the COVID-19 pandemic, became available to solo entrepreneurs and independent contractors on April 10, 2020. As such there are perks and pitfalls of self-employment and read further to find out more information.…

Beware of Coronavirus Scams | After a press conference in which President Trump mentioned scientists were testing the potential of using disinfectants as a coronavirus cure, poison control centers across the country reported a spike in calls. In Maryland alone, the Emergency Management Agency fielded more than 100 calls asking about the president’s suggestion. In…

The Coronavirus or Covid-19 brought financial stress to many people and it is important to learn how to deal with financial stress. A recent survey by the National Endowment for Financial Education found that almost 90% of Americans were feeling anxious about their money situation. 39% were worried about job security 48% worried about paying…

Two Retirement Planning Approaches | According to Merrill, four of the most common risks to your retirement strategy are: A significant market drop shortly before or early in your retirementInflation reducing your spending power over timeUnexpected medical and/or long-term care expensesOutliving your assets If you are nearing retirement, it might be time to review your…