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Coronavirus Relief Package FAQs

The recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act contains a $2 trillion emergency relief package to provide financial help to those impacted by the COVID-19 pandemic. The passage of this Act creates a variety of implications for individuals and businesses. Below is a summary of the key components related to individuals and families.

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Giving Back While Staying Home

We have received questions about what people can do to help those who have been most impacted by COVID-19. For those that have the capacity to give, donations are the best way to support those most vulnerable and at risk during this time. We have outlined the below resources to identify charitable organizations assisting those affected by the coronavirus.

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Congress passes the SECURE ACT, what do the changes mean for me?

Attached to the large spending bills that Congress passed just before the end of the 2019 legislative session were some last-minute provisions that will have an impact on personal finances in 2020 and beyond. The “Setting Every Community Up for Retirement Enhancement” (SECURE) Act includes some important changes to the rules regarding Individual Retirement Accounts (IRAs), as well as some narrower changes to other aspects of the tax code. The following is a high-level update on a few of the items that are likely to have the widest and largest impact.

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Social Security Adjustments for 2020

Each year the Social Security Administration announces cost of living adjustments that impact the monthly benefit to recipients for the following calendar year. As the New Year approaches, you can expect the following changes to apply to those enrolled in Medicare and receiving benefits from Social Security in the 2020 calendar year.

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Choosing a Financial Advisor – Part 4

In the final installment of our four-part Choosing a Financial Advisor Series, we explain why the “right” fit when it comes to choosing an advisor can only be found after gaining an understanding of exactly what you want and need from an advisory relationship.

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Choosing a Financial Advisor – Part 3

In our previous posts, we’ve explored the importance of determining fee structures of advisory firms, and the differences between a suitability standard and a fiduciary standard.

When evaluating the ability of an advisor to deliver the needed level of services and solutions, however, few topics are more important than understanding the collective capabilities of the team of individuals comprising a firm.

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Choosing a Financial Advisor – Part 2

In our four-part Choosing a Financial Advisor Series, we provide information and perspectives to clarify the distinctions within the financial industry, which will help you understand how to think about choosing the right advisor for your specific needs.

In Part 2 of the series, we highlight the importance of making sure your interests come first, and explore the fiduciary standard.

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Choosing a Financial Advisor

In our four-part Choosing a Financial Advisor Series, we provide information and perspectives to clarify the distinctions within the financial industry, which will help you understand how to think about choosing the right advisor for your specific needs.

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Lessons from Sending My Son to College

By: Chris Link, CFP®, CPA, Accredited’s Director of Tax Planning

“The Best Day” by George Strait played on the radio the day we brought our first born home from the hospital. Thinking back to that day, it felt like we had arrived at the college conversation all too quickly. Much like the moment when we were no longer a family of two, watching our fledgling jump from the nest raised emotions and introspection.

It began to feel ‘real’ one week before my son’s college departure date. A mix of excitement and anticipation came over me thinking about the opportunities that lie ahead, and pride for the person he’s grown into. At the same time, thoughts of not seeing him every day and knowing that we’d all be moving into a new normal created a sadness. “The Best Day” holds a different meaning now; and listening to it again the morning we dropped him at college helped shift my focus back onto his excitement for this new journey.

Before we could send our son off to college, we had to cross the bridge of finding the “perfect one,” agree as a couple how to fund this new expense, and communicate funding and expectations to our college freshman.

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