2019 - ERB FINANCIAL

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Market Week: June 29, 2020

The Markets (as of market close June 26, 2020) The week began with the stock market picking up where it left off the previous week. Each of the benchmark indexes listed here advanced in value, led by the tech-heavy Nasdaq, which jumped 1.10%, pushed higher by Amazon and Adobe. Last Monday's run marked the seventh straight advance for the Nasdaq — its longest rally of the year. The Russell 2000 gained 1.00%, followed by the S&P 500, the Dow, and the Global Dow. Crude oil reached $40 per … [Read more...]

Filed Under: Market Review/Summary

Establishing a Budget

Do you ever wonder where your money goes each month? Does it seem like you're never able to get ahead? If so, you may want to establish a budget to help you keep track of how you spend your money and help you reach your financial goals. Examine your financial goals Before you establish a budget, you should examine your financial goals. Start by making a list of your short-term goals (e.g., new car, vacation) and your long-term goals (e.g., your child's college education, retirement). Next, ask … [Read more...]

Filed Under: Articles, Budget Spending Finance

Social Security and Medicare Face Financial Challenges

Based on the "intermediate" assumptions in this year's report, the Social Security Administration is projecting that the cost-of-living adjustment (COLA), which will be announced in the fall of 2020, will be 2.3%. This COLA would apply to benefits starting in January 2021.   Most Americans will eventually receive Social Security and Medicare benefits. Each year, the Trustees of the Social Security and Medicare Trust Funds release lengthy reports to Congress that assess the health of these … [Read more...]

Filed Under: Articles, Consumer Alerts, Healthcare, Medicare, Retirement, Social Security, Tax Topics

Spring Cleaning Your Way to Better Finances

Spring is a good time to clean out the cobwebs, and not just in your home or apartment. Your personal finances can benefit from a good spring cleaning, too. Here are some questions to ask yourself regarding your budget, debt, and taxes. Is there room in my budget to save more? A budget is the centerpiece of any good personal financial plan. After tallying your monthly income and expenses, you hopefully have money left over to save. But... is there room to save even more? Review your budget … [Read more...]

Filed Under: Articles, Budget Spending Finance, Children, College, Credit Cards, Debt, Homeowner, Investments/Investing, Tax Topics

Market Week: June 22, 2020

The Markets (as of market close June 19, 2020) Equities began the week edging higher following the Federal Reserve's announcement that it would buy corporate bonds under an emergency lending program. The Russell 2000 closed up 2.3%, the Nasdaq gained 1.4%, while the S&P 500 and the Dow eked out gains of less than 1.0%, respectively. After last week's tailspin, crude oil prices rebounded while the yield on 10-year Treasuries advanced slightly. Investors remain weary, however, as more than 20 … [Read more...]

Filed Under: Market Review/Summary

Understanding Your Paycheck

“It's exciting to earn your first paycheck, but you should know that the information on the pay stub or online statement could be important to you as well.” Congratulations! You've just landed a new job. Here are some important things to be aware of before you receive your first paycheck.   When will I receive my paycheck? How often will you be paid? Typically, your payday will depend on the company you work for and which state you work in. You might be paid on a weekly, bi-weekly, … [Read more...]

Filed Under: Articles, Budget Spending Finance, Career, Medicare, Retirement, Social Security, Tax Topics

Interest Rates on Federal Student Loans Decrease to Record Lows for 2020-2021

Subsidized vs. unsubsidized What's the difference? With subsidized loans, the federal government pays the interest that accrues while the student is in school, during the six-month grace period after graduation, and during any loan deferment periods. With unsubsidized loans, the borrower is responsible for paying the interest during these periods. Only undergraduate students are eligible for subsidized loans, and eligibility is based on demonstrated financial need.  For the second year in a … [Read more...]

Filed Under: Articles, Budget Spending Finance, Children, College, Consumer Alerts, Debt

U.S. Government Sends Millions of Economic Impact Payments by Prepaid Debit Card

In May 2020, the IRS sent Economic Impact Payment (EIP) prepaid VISA debit cards to individuals who qualified for a stimulus payment under the Coronavirus Aid, Relief, and Economic Security (CARES) Act and didn't receive a payment via direct deposit.     How is the card activated? The Economic Impact Payment Card (EIP Card) arrives in a plain envelope from Money Network Cardholder Services, along with card information and instructions for its activation. Only one card is … [Read more...]

Filed Under: Articles, Budget Spending Finance, Consumer Alerts, Credit Cards, Govt-Legislation

Think Twice Before Speculating on a COVID-19 Cure

“Headline-induced price swings suggest that investors are making investment decisions driven by hopes and fears, and possibly based on limited information.” As hundreds of companies race to develop vaccines and drug therapies that could help end the COVID-19 pandemic, news reports on successful or failed trials affect individual stock prices and can trigger swings in the broader market.1 Understandably, this highly contagious virus — and its severe economic repercussions — has a knack for … [Read more...]

Filed Under: Articles, COVID-19 (Coronavirus), Healthcare, Investments/Investing

Market Week: June 15, 2020

The Markets (as of market close June 12, 2020) Last week began with a bang for stocks as each of the indexes gained well over 1.0% for the day. The S&P 500, after climbing 1.2%, has picked up nearly 45.0% since its 2020 low, pushing it into the black for the year. The Nasdaq rose to a record high while the Dow and Russell 2000 surged by close to 2.0% each. Oil prices fell marginally, and the dollar sank, as did the yield on 10-year Treasuries. Investors were encouraged by the prospects of … [Read more...]

Filed Under: Market Review/Summary

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