Strategies for Distributing an Inherited IRA Under the SECURE Act

Since the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law on December 20, 2019, a whole slew of changes surrounding retirement accounts has come into existence (we summarized some of those changes here). One such change is the elimination of the “stretch IRA,” or the ability of the beneficiary of …

5 Questions Everyone Can (and Should) Ask Themselves Before Retirement

What do you think of when you hear the word “retirement”? Do you think of travelling to far off, exotic places? Working on your golf game with all your newfound free time? Visiting your children and grandchildren as often as you (or they) want? Maybe you enjoy your career so much you will continue to …

B&C Financial Advisors Annuity Series – Part 3: Sample Annuity Contract

In the second part of our series on annuities, we took a look at some pros and cons of annuities. To end the series, in this post we will walk through an example of an actual annuity contract one of our clients purchased before becoming a client of B&C Financial Advisors. (We have removed the …

Spooky Finance: 5 Real (Bad) Personal Finance Tips We Hear Too Often

Well, Halloween is upon us, and while the fact it’s already the end of October is somewhat frightening on its own, we think it’s a perfect time to revisit some of the advice we’ve heard over the years that still haunt people to this day. 1    You should borrow money from your 401(k) plan, …

B&C Financial Advisors Annuity Series – Part 2: Pros & Cons

In the first part of our series on annuities, we defined some common terms associated with these often-complicated insurance products. Now that we are a bit more familiar with the terminology, in this post we will highlight some of the pros and cons of annuities. (It is important to note, as we continue through this …

B&C Financial Advisors Annuity Series – Part 1: What is an Annuity?

Those who watch daytime television may be all too familiar with scenes of people leaning their heads outside their windows, shaking their fists at the sky, and shouting the phrase, “It’s my money, and I need it now!” Others may be familiar with the more recently portrayed scene of everyday citizens breaking out into an …

IRS Issues Further Guidance on 2020 Required Minimum Distributions (RMDs)

As we discussed a few months ago, the federal government passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020, in response to the global pandemic that continues to afflict our economy. One way the CARES Act provided relief for individuals was by waiving the annual obligation to distribute a portion …

6 Ways to Be Financially Productive During Quarantine

If you had asked me a couple months ago what my plans were for the month of April, my response probably would have included things like travelling, going to concerts, and visiting friends and family. As you might imagine, I am unfortunately doing exactly zero of those things (in person, anyway), thanks to the global …

Highlights of the Historic Coronavirus Aid, Relief, and Economic Security (CARES) Act

In an effort to mitigate the effects the ongoing COVID-19 pandemic is having on Americans in every sector of the economy, the federal government signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020. While this historic bill approves a $2 trillion emergency stimulus package aimed at providing broad …

The Coronavirus Has Infected the Stock Market…Now What?

With the coronavirus now spreading across over 100 countries, it is clear the effects from the virus are widespread and significant. In attempts to mitigate these effects, entire countries have implemented quarantines, multinational corporations have instituted “work from home” protocols in various cities across the globe, and people everywhere have started to accumulating various dry …