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Retire On Purpose, With Purpose

 
When it comes to managing your retirement, a small mistake can cause a major loss of capital. That is why it's important to speak with a financial advisor who is familiar with your Company's benefits. Schedule a call today..  
 
 
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The Retirement Group

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Recent Posts

Retirement Confidence Remains Strong, Despite Pandemic

May 19, 2021 4:34:28 PM
written by The Retirement Group

 

Despite the economic shock of the coronavirus pandemic, American workers and retirees remain largely optimistic about their financial prospects for retirement.

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American Familes Plan Would Provide Benefits for Some, More Taxes for Others

May 18, 2021 1:08:04 PM
written by The Retirement Group

On April 28, 2021, the White House released a fact sheet for President Biden's American Families Plan (AFP), which proposes about $1 trillion in investments and $800 billion in tax cuts. There would also be tax increases for those making more than $400,000 per year. Major provisions proposed in the plan are summarized here, including some tax provisions.


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Rising Inflation: Where Will It Go from Here?

May 7, 2021 9:06:00 AM
written by The Retirement Group

 


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Market Month: April 2021

May 4, 2021 11:16:00 AM
written by The Retirement Group


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posted in Financial Planning, Retirement Planning

Enhanced Child Tax Credit for 2021

Apr 23, 2021 8:36:00 AM
written by The Retirement Group

 


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High-Frequency Indicators: Where to Look for Signs of Recovery

Apr 8, 2021 3:16:18 PM
written by The Retirement Group

 


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Quarterly Market Review: January-March 2021

Apr 7, 2021 11:46:40 AM
written by The Retirement Group

 


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U.S. Credit-Card Debt Levels See Record Drop in 2020

Apr 2, 2021 7:50:32 AM
written by The Retirement Group

 

Despite the financial challenges experienced by Americans as a result of the coronavirus pandemic, U.S. credit-card debt dropped to record levels in 2020, decreasing by almost $83 billion.[1] This unprecedented drop was likely the result of individuals receiving financial assistance through the Coronavirus Aid, Relief, and Economic Security (CARES) Act and having access to more cash. Economic aid in the form of stimulus payments, suspended student loan payments, and broad state-sponsored unemployment benefits, allowed Americans to pay down their balances.[2] In fact, according to a U.S. Census Bureau survey, almost 60% of adults in households that experienced a loss in employment income during the pandemic used their second stimulus check to pay down debt.[3]

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Due Date for Federal Income Tax Returns and Payments Postponed to May 17

Mar 25, 2021 9:06:54 AM
written by The Retirement Group

 


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posted in Financial Planning, Lump Sum, Pension, Retirement Planning

American Rescue Plan Act Provides Relief to Individuals and Business

Mar 16, 2021 11:38:05 AM
written by The Retirement Group


On Thursday, March 11, 2021, the American Rescue Plan Act of 2021 (ARPA 2021) was signed into law. This is a $1.9 trillion emergency relief package that includes payments to individuals and funding for federal programs, vaccines and testing, state and local governments, and schools. It is intended to assist individuals and businesses during the ongoing coronavirus pandemic and accompanying economic crisis. Major relief provisions are summarized here, including some tax provisions.

Recovery rebates (stimulus checks)
Many individuals will receive another direct payment from the federal government. Technically a 2021 refundable income tax credit, the rebate amount will be calculated based on 2019 tax returns filed (or on 2020 tax returns if filed and processed by the IRS at the time of determination) and sent automatically via check, direct deposit, or debit card to qualifying individuals. To qualify for a payment, individuals generally must have a Social Security number and must not qualify as the dependent of another individual.

The amount of the recovery rebate is $1,400 ($2,800 if married filing a joint return) plus $1,400 for each dependent. Recovery rebates start to phase out for those with an adjusted gross income (AGI) exceeding $75,000 ($150,000 if married filing a joint return, $112,500 for those filing as head of household). Recovery rebates are completely phased out for those with an AGI of $80,000 ($160,000 if married filing a joint return, $120,000 for those filing as head of household).


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