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Trevor's Weekly Market Reviews

Trevor's Weekly Market Reviews

| March 30, 2020

As always, please find attached this week’s Weekly Market Review which is chocked-full of timely information. 

The CARES Act was signed into law at the end of last week.  It’s a giant bill and probably has some impact or relief for almost everyone.  Our friends at Investopedia have published a nice article you can get here summarizing many elements of the CARES Act. 

Additionally, please take time to pay special attention to changes in rules related to your money and/or investments.  A few examples of recent changes due to the economic disruption caused by the COVID-19 virus include:

  • The deadline to make your 2019 IRA/Roth or HSA contributions has been extended to July 15th, 2020 to match the new tax filing deadline.  This link takes you to a timely article by Forbes regarding the matter.
  • 2020 Required Minimum Distributions (RMD) including those typically required by someone who has inherited an IRA.  See this link to a Forbes article detailing the specifics.  Please keep in mind that this change does not automatically cancel your RMD.  If you have a systematic plan in place to process your RMD and would to change it for 2020, please contact our office.
  • Special rules giving account owners access to some of their retirement funds in 401(k) and IRAs have also been included in the recently passed CARES Act.  Click here for a straight-forward explanation from Money/US News.

Please know the Levine Group is fully operational and remains committed to serving you during this unique time.  Call or email us if we can help.

Click HERE for the Weekly Market Review

Stay well,

Trevor N. Coe, CFP®