When payday comes, where does your money go? A good rule of thumb is to pay yourself first, meaning put a reasonable percentage of your earnings from each paycheck into a separate savings account. This is the first step to building up your savings account for short- and long-term saving goals.
Topics: Financial Planning
As the deadly coronavirus swept the world, many took precautionary steps to keep themselves and loved ones healthy. Physical well-being is at the forefront of day-to-day living and naturally what we prioritize in reaction to catastrophic events alike – washing hands, wearing a seat belt, wearing sunscreen.
Earlier this year my wife and I embarked on an adventure with our 3 ½ year old niece and nephew – the Ft Worth Stock Show and Rodeo. As a Christmas gift to them (more so probably to their parents) we spent the day viewing all the livestock, indulging in top-quality fried foods, and cheering on the participants in the afternoon rodeo competition.
As the month of May rolls on and life continues to return to “new normal” for some, the questions seem to mount by the hour for those keeping up with the markets. Previous updates have stressed the extreme volatility at play since the COVID-19 breakout, along with the economic downfall that has shown only more glaring signs of turmoil as US businesses have sputtered at re-opening.
Creating a plan and sticking to it can be one of the most difficult tasks with regards to financial planning. From the very beginning there is a challenge: where to start? There are multiple starting points, differing financial aspirations, and a countless amount of essential expenses that vary from person to person. Decisions must be made early in order to start moving towards the goal, and decisions will shift as life changes.
Price growth within the equity markets continues to rally after the February plummet from coronavirus (COVID-19), but why this rebound is happening has most experts searching for answers – especially this past week when a majority of reporting companies revealed underwhelming first quarter earnings.
As we roll through the 5th week of Dallas County’s shelter-in-place order, the coronavirus (COVID-19) continues to wreak havoc across the nation. It is apparent in these past few days that not everyone agrees with the restrictive action taken to prevent the spread of the virus, and the number of infected individuals has persisted.
The World Health Organization declared the coronavirus (COVID-19) outbreak a pandemic on March 11th, 2020, just over 37 days ago. As most investors are aware, the stock market reached a peak before the pandemic declaration, around February 19th, 2020. Ever since then we have witnessed volatility in the broad markets that most have never experienced, forcing even the most intelligent money managers to scramble for answers.
Cash is king, so keep it safe
The past few months have brought to light some unprecedented changes in everyday life, and with those changes have come a heightened focus on health and safety. Physical health can be protected by safe distancing, washing hands, and adhering to CDC guidelines. But protecting your financial health is not always so straightforward. LGT Financial Advisors has a simple solution that allows you the flexibility for over $2.5 million of cash deposit insurance coverage through a deposit sweep program, and purchasing brokered Certificates of Deposit (CDs).
We are now 79 days removed from January 22nd 2020, a date that marks the first reported coronavirus (COVID-19) case in the United States. Since then over 462,000 confirmed cases of the virus have been reported along with almost 25,500 recoveries and over 16,500 deaths, leaving the death rate of COVID-19 for the US at roughly 3.5%. As stated in earlier updates, the coronavirus poses a unique issue due to the number of days between infection and actually showing symptoms.