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2020 May Be A Good Time For A ROTH

Even during difficult financial times, opportunity can come knocking at your door. There is very little doubt that the current COVID19 pandemic has wreaked havoc on the U.S. economy, affecting almost every individual in its path. With that said, certain events have made 2020 the year to strongly consider converting any eligible investment accounts into a Roth Individual Retirement Account?

Second Wave Looks to Have Peaked

This week, we had some progress on the pandemic front, as things started to improve after the stabilization we saw last week. Case growth peaked, at least in the short term, and the case growth rate ticked down. Further, outbreaks in many states are now being contained, as expected.

Nationally (as of July 29), the number of new cases was about 70,000, almost the same as a week ago. But the daily spread rate has improved a bit, down from just under 2 percent to 1.5 percent per day. Similarly, the number of tests has continued to bounce between 750,000 and 850,000 per day, but the positive rate has dropped to under 8 percent. Control measures imposed in multiple states appear to be working, although (as expected) it will take more time to see further improvement.

KDI Wealth Management advisors earn CPFA designation

KDI Wealth Management advisors earn CPFA® designation from the National Association of Plan Advisors.

Signs of a Slowdown, But Recovery Still on Track

This week, the news was much the same as it was last week. This is actually good news, as things had been getting worse. As such, this stabilization represents progress. It also indicates that, in many states, outbreaks are being contained.

Ask THIS Before You Claim Social Security

Should I claim my Social Security benefits now? It’s a common question, and it’s one that you’re very prudent in asking. Timing is the biggest facet in maximizing your benefits. Yet, you’ll get an array of answers on the best timing. Let’s break down three questions that will give you the most definitive answer to your question.

Laid Off Before You're Ready To Retire?

If you have been one of the many impacted by COVID-19 and you’re closer to retirement than some, then you should look through these tips to see what you can do to overcome this problem.

UPDATE: RMD Requirements

If you missed the news, the IRS announced that if you already took out your maximum percent for your Required Minimum Distribution, you are still in luck. According to the IRS, you can still roll over those funds and put them back into your account. That is according to the current Cares Act waiver.

This new waiver has been extended until the end of August. That should give you enough time to replenish your accounts before the end of this year, if you choose to.

Summer Travel: Flying in the Pandemic

After months of desolation at the airports, air travel has increased every week leading into the busy summer vacation season. With full flights becoming more of the norm, it is more challenging than ever to socially distance on planes, making it important that you follow additional precautions.

The CARES Act 2020 RMD Waiver: What You Need to Know

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law on March 27, 2020, includes provisions that temporarily relax several key retirement account rules. One of these provisions is a waiver of required minimum distributions (RMDs) in 2020. Here’s what you need to know.  

Localized Outbreaks Heighten Fears of National Second Wave

Over the past week, localized outbreaks in several states continued to get worse, increasing the chances of a national second wave of infections. Arizona, California, Florida, and Texas have shown significant spikes in cases in recent days, with the Carolinas also under pressure. Further, multiple other states have experienced expanded case growth. Overall, the virus remains under control in many states, but the breadth and magnitude of the outbreaks have increased the risk at a national level.