Personal Finance and Investing Articles | Cove Financial Planning

The SECURE Act took effect on January 1, 2020, and it addresses the reality that many of us are both working and living longer. The new rules will likely have an impact on your retirement plan, and like with most legislation, there’s good news and bad news.

What a year! In 2019, investors had their cake and ate it, too. The U.S. stock market had its best year since 2013 and continued its steadfast rally since the 2008 downturn. There’s plenty to celebrate over last year, but outlook for 2020 is mixed.

Though the end of the year quickly approaches, it’s not too late to save money on your taxes in 2019. You could reduce your tax bill by contributing to retirement accounts, harvesting losses in your investment portfolio, funding a health savings account, bundling tax-deductible expenses in specific years or a combination of all of these!

Finding a financial advisor is a lot like shopping for clothes online. There are plenty of websites to order from, but you may not know the exact fit until after you make the purchase. Consider asking these questions when you start your search for your own financial advisor.

American retirees expect to leave an average inheritance of nearly $177,000 to their heirs. As tempting as it may be to pay cash for that cherry red Ferrari you had a poster of during your teenage years, it’s important to be strategic with a significant windfall. Consider the following steps when you learn of an upcoming inheritance to ensure that every dollar will benefit your and your family’s future.

Investing can be complex, just like properly training for a half marathon. And make no mistake, investing, especially for retirement, IS a marathon. Like with any long-term endeavor, proper preparation can make all the difference. Consider these strategies as you assess your own retirement savings.