If you think the economic decline due to the pandemic has been difficult for you personally, the big picture numbers may be even worse. Analysts project that the total economic disruption could eventually cost between $9 trillion and $33 trillion. Many economists are advocating that the U.S. — and the world — make a concerted…

If you received a stimulus check last spring to help cope with the financial effects of the COVID-19 virus on your household, there’s something you should know. Those funds are technically an advance rebate of a special 2020 tax credit. Many taxpayers will be able to reconcile that rebate on their 2020 return to equal…

A recent survey found that working households experiencing financial strain due to the pandemic have not been inclined to make withdrawals from their 401(k)s to help make ends meet. In fact, the vast majority haven’t even changed their rate of contributions. Instead, these households are relying on the “old standbys” of surviving during economic decline:…

We’ve learned a lot about infectious diseases this year, as well as how to adapt our lifestyles in response to a pandemic. It will be interesting to see if and how U.S. businesses adjust their operational models to account for the potential for future pandemics or other catastrophic events. Let’s check out lessons from the…

As of the end of July, the stock market was still performing relatively well, and the Federal Reserve had announced no near-term changes to interest rates. However, other economic news was not as rosy. According to the Bureau of Economic Analysis, the U.S. economy contracted by nearly a third (32.9% annual rate) in the second quarter…

Investors who defer the same amount of money from their paycheck into a 401(k) plan at regular intervals are practicing dollar-cost averaging. By investing the same fixed dollar amount each time, the investor buys more shares when prices are low and fewer shares when prices rise. The long-term effect is that the average cost of each…

Colleges all over the country have introduced incoming freshmen to orientation online, an entirely different experience. The online format offers several advantages in that more information can be presented and web pages bookmarked for future reference. This may be preferable to the barrage of information students normally receive during a seemingly rushed one-to-two-day orientation. However,…

The World Health Organization recently reported that while some countries have made effective inroads to contain COVID-19 within their borders, the pandemic is still well on the rise throughout the world. Perhaps one of the most debilitating impacts of today’s global economy is that one country’s problem is now every country’s problem. Because business and personal…

The COVID-19 pandemic has been a struggle around the world, and the United States is no exception. It is worth looking at individual factors to gauge just where we stand now – how U.S. Coronavirus response compared to the world… The foremost concern is how the U.S. is weathering the pandemic. Initially, the crisis was…