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In the span of just a few days, cryptocurrency exchange FTX – the world’s third largest cryptocurrency exchange with more than 1 million users – filed for Chapter 11 bankruptcy. A few days later, cryptocurrency lender BlockFi announced that it was “not able to do business as usual” and paused…
Many of us remember the phrase “too big to fail” from the 2008 financial crisis and cringe now that its use has been resurrected during the coronavirus pandemic. Others remember that the term was also used in 1984 by U.S. Congressman Stewart McKinney when he talked about the FDIC’s intervention…
A Market Pullback Amid Rising Global Concerns As the saying goes, all good things must come to an end. This past September, a cascade of negative news finally weighed down a historically resilient stock market. Global supply chain disruptions, surging energy prices, COVID-19 concerns, stalled infrastructure negotiations, inflationary pressures, fears…
Understanding FOMO in Investing: How It Impacts Your Financial Decisions Every day we’re bombarded with reports of what’s hot and what’s not – fueling a fear of missing out (FOMO) on some great investment opportunity. Heck, there is even a new exchange traded fund with FOMO in its name. But…
The Importance of Capital Preservation in Achieving Financial Goals To reach your financial goals, you don’t have to outperform every benchmark every year. For long-term investors, avoiding and mitigating losses is the largest factor in achieving ultimate success in your financial plan. Held every July, the Tour de France is…
Understanding Inflation: A Personal Perspective What will inflation be in the coming years? The real answer is that it varies according to your age and spending patterns. Inflation wallops someone with kids in college and might be hardly noticeable to stay-at-home types. And recent inflation will stun someone looking for…
National Financial Literacy Month: A Call to Action April is National Financial Literacy Month – an entire month dedicated to underscoring the importance of learning, establishing, and maintaining healthy financial habits. Sadly, the money habits of the average American reveal that: Only about 40% of adults use a budget and…
Joe Biden’s Economic Agenda: An Overview Joe Biden will inherit one of the most challenging political and economic environments of any U.S. president. With America reeling from the storming of the Capitol, not to mention a raging pandemic, President Biden must heal partisan wounds and put the world’s largest economy…
The Economic Impact of COVID-19 and Market Recovery In 2020, the global economy experienced its most severe recession since World War II due to the COVID-19 pandemic. The S&P 500 index plummeted by as much as 34% from its highs in late February to late March. However, by the second…
The New IRS Tax Rates and Deductions for 2021 Although a year away, your 2021 tax planning should have already started. Amidst all the pandemic news and 2020 election drama, many might have missed that the IRS also quietly published new 2021 tax rates in late October. There are plenty…