Legendary investor Warren Buffett is famous for his long-term perspective. He has said that he likes to make investments he would be comfortable holding even if the market shut down for 10 years. Investing with an eye to the long term is particularly important with stocks. Historically, equities have typically outperformed bonds, cash, and inflation, though past performance is no guarantee of future results and those returns also have involved higher volatility. It can be challenging to … [Read more...]
Due Date for Federal Income Tax Returns and Payments Postponed to July 15
Tax deadline for most individuals: Wednesday, July 15, 2020 Due to the coronavirus pandemic, the due date for filing federal income tax returns and making tax payments has been postponed by the IRS from Wednesday, April 15, 2020, to Wednesday, July 15, 2020. No interest, penalties, or additions to tax will be incurred by taxpayers during this 90-day relief period for any return or payment postponed under this relief provision. The relief applies automatically to all taxpayers, and … [Read more...]
Eleven Ways to Help Yourself Stay Sane in a Crazy Market
Keeping your cool can be hard to do when the market goes on one of its periodic roller-coaster rides. It's useful to have strategies in place that prepare you both financially and psychologically to handle market volatility. Here are 11 ways to help keep yourself from making hasty decisions that could have a long-term impact on your ability to achieve your financial goals. 1. Have a game plan Having predetermined guidelines that recognize the potential for turbulent times can help … [Read more...]
Change in Business Hours and Practices in response to COVID-19
We have changed our business hours and practices in response to the COVID-19 health threat. We will answer phones between 9:AM and 5:PM Monday through Friday, and Saturdays from 9:AM until 3:PM. We have reduced our staffing levels to allow for maximum workspace and are taking precautions to keep everyone safe, including working from home. As you may already know, we are no longer scheduling appointments and are transacting business by phone, e-mail, and fax. We have a secure drop-box … [Read more...]
How we are responding to the COVID-19 health threat
We are still OPEN for business. We’ve changed our process for filing your tax returns. Dear Friend, If your 2019 tax returns have already been completed and filed, you can choose to ignore what follows. It concerns folks with tax returns that have not yet been completed by Erb Financial. It’s hard not to turn on the radio or talk with friend without the coronavirus becoming the main topic. It’s on everyone’s mind. Erb Financial has decided to … [Read more...]
Coronavirus Concerns? Consider Past Health Crises
“Putting current market volatility into historical perspective can help you stay the course during turbulent times.” During the last week of February 2020, the S&P 500 lost 11.49% — the worst week for stocks since the 2008 financial crisis — only to jump by 4.6% on the first Monday in March.1 By all accounts, the drop was largely driven by ever-increasing fears about the potential effects of the coronavirus (COVID-19) and its ultimate impact on the global economy. Although many market … [Read more...]
Flu Season and COVID-19
Flu Season is upon us and the COVID-19 outbreak could be here as well. We are taking precautions. Erb Financial has never taken flu season lightly, and the new Covid-19 outbreak reinforces the precautions we are taking. We encourage all customers and employees to stay home if they are not feeling well or are sick. All employees practice recommended personal hygiene practices including regular hand washing and disinfecting work spaces. Multiple times throughout the day … [Read more...]
The Coronavirus and the Global Economy
As of February 26, 2020, the death toll from COVID-19 — the official name of the coronavirus first reported in Wuhan, China — passed 2,700, while the number of confirmed cases exceeded 80,000. Almost all were in China, most of them in Wuhan and the surrounding Hubei province. But more than 2,500 cases, including 46 deaths, had been reported in almost 40 other countries. A surge of cases and deaths in South Korea, Italy, and Iran caused new concern that the virus may be difficult to … [Read more...]
Epidemics and Stock Market Performance
Epidemics 2020 (Click Here to Open) Dear friends, Given the recent market volatility sparked by concerns surrounding the spread of the coronavirus, we thought we would drop you a note. It is our belief that the effects of this crisis on markets around the world will be temporary and relatively short-lived as similar incidences in the past. Please refer to the chart on our blog (linked below) which we're hoping helps us all hold to a long-term perspective. Broadly, our recommendation … [Read more...]
Equifax Data Breach
If you were affected by the 2017 Equifax data breach you are potentially eligible for a monetary claim or credit monitoring service. The U.S. Federal Trade Commission warns everyone to be aware of scams & fake settlement websites and adds that you’ll never have to pay to file a claim for these benefits. And anyone who calls and tries to get you to file a claim is almost certainly a scammer. At this link – https://eligibility.equifaxbreachsettlement.com/en/eligibility – you can check … [Read more...]
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