CARES Act: Retirement Plan Relief Provisions

Directions Financial Solutions

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020.  This $2 trillion emergency relief package represents a bipartisan effort to assist both individuals and businesses in the ongoing coronavirus pandemic and accompanying economic crisis. The CARES Act provisions for retirement plan relief for individuals under federal tax law are discussed here. For …

7 Common Life Insurance Myths Debunked

Directions Financial Solutions

Having sufficient life insurance is essential. And yet, so many of us buy into popular misconceptions, convincing ourselves we don’t need to bother purchasing a policy. But don’t be fooled. Read on to see how seven of the most widespread life insurance myths are easily debunked. Myth #1: I’m single, and I have no dependents so I don’t need it. …

Discussing Risk Management With Your Spouse

Directions Financial Solutions

One of the most challenging issues for couples to resolve is how much risk they’re willing to take with their investments. Here are some tips to guide you on the road toward joint venture: 1.) Communication is key Let your partner know you’re willing to research options together and come up with a plan. Erica Coogan, a partner at Moss …

Balance Your Portfolio To Keep Your Future On Track

Directions Financial Solutions

Personal finance is almost always a balancing act. You’ll need to strike a balance between spending and saving. You’ll want to balance your expenses against your income. You would be wise to make sure the risk and potential reward stay in balance. Most importantly, though, your portfolio will benefit if you keep your investments in balance. There are many ways …

Minimize Investment Risk By Building Up Your Savings

Directions Financial Solutions

It’s essential to have a solid cushion of savings before you start putting your money into an investment. Life is full of surprises. You don’t want to be caught in an emergency that leaves you desperate for cash when all your funds are tied up in bonds, CDs and stocks. Saving money should always come before investing money. Your savings …

Getting Your Finances In Order

Directions Financial Solutions

Congratulations! You’ve made the important decision to invest some of your finances this year, and it’s your first time ever. But where do you start? Jumping into the market without first taking careful stock of your finances is like asking for seconds at the dinner table before finishing your first portion. Though you can technically invest before your debts are …