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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…

The stock market was a solid one for investors in 2019, with several major indexes reaching record highs. But fear of an economic decline topped the list of CEO concerns heading into 2020, and an economic slowdown could mean increased market volatility.   http://www.broadridgeadvisor.com/kt/HtmlNL.aspx?pvw=40454A358C1E1A78FC7E03C946FF91D133B7B317135E5CC1BF168AED452F1A9F89144DF7A522109C407B9F69145D1C4968D01F52DEF34B34CFA63774FB15EF754ED096923A16274C87F668A6B8BBEF0B43220D8FA150E329425684C500E69EB6&platform=fb&fbclid=IwAR0bmAJvv4anHmxj5H87juLy-YehSZ4JJox4dE7xO6fxfUJsxATK0TQpaMA

If you’re one of almost 69 million Americans who receive Social Security or Supplemental Security Income benefits, you’ll notice a small change in your monthly check this year. More than 63 million beneficiaries will receive a 1.6% cost-of-living adjustment this month. The 8 million SSI beneficiaries received their COLA on Dec. 31. Put another way: The average monthly benefit for all retired workers will rise from $1,479 to $1,503 this month. And the average monthly benefit…

On December 13, 2019, the United States and China announced a “phase one” trade agreement just before new tariffs were scheduled to go into effect.1 Six days later, the House of Representatives passed the United States-Mexico-Canada Agreement (USMCA) in an overwhelming bipartisan vote, virtually assuring enactment of the long-awaited replacement to the North American Free Trade Agreement (NAFTA).2 Both of these deals were expected to be enacted in early 2020, though details of the China pact remained…

Average Start for 529 College Savings (Age 7) Is Costly, Study Finds Many families wait too long to open 529 college savings accounts, which means they miss out on the maximum benefits from the accounts, a new analysis finds. On average, 529 accounts are opened for children who are just over 7 years old, the investment research company Morningstar found in its annual analysis of the state-sponsored plans. That leaves only about a decade for families to save…

The IRS recently issued its annual list of tax scams. The list highlights various scams that taxpayers may encounter, many of which occur during tax filing season. Here are some of the scams that are highlighted on the list. Phishing Phishing scams usually involve unsolicited emails or fake websites that pose as legitimate IRS sites to convince you to provide personal or financial information. Once scam artists obtain this information, they use it to commit identity…

The $1.4 trillion spending package enacted on December 20, 2019, included the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which had overwhelmingly passed the House of Representatives in the spring of 2019, but then subsequently stalled in the Senate. The SECURE Act represents the most sweeping set of changes to retirement legislation in more than a decade. While many of the provisions offer enhanced opportunities for individuals and small business owners, there is one…

Medicare premiums, deductibles, and coinsurance amounts change annually. Here’s a look at some of the costs that will apply in 2020 if you’re enrolled in Original Medicare Part A and Part B.   Medicare Part B premiums According to the Centers for Medicare & Medicaid Services (CMS), most people with Medicare who receive Social Security benefits will pay the standard monthly Part B premium of $144.60 in 2020. However, if your premiums are deducted from your…

In September 2019, the Institute for Supply Management (ISM) Purchasing Managers Index (PMI), which measures a wide variety of manufacturing data, fell to 47.8%, the lowest level since June 2009.1 A reading below 50% generally means that manufacturing activity is contracting. The August reading of 49.1% had signaled the beginning of a contraction, and the drop in September suggested that the contraction was not only continuing but accelerating. The index rose slightly to 48.3% in October,…

The premium differential between Smoker vs. non-smoker rates are tremendous making this opportunity huge to those who use E-cigs. Take advantage of this while it lasts, because on October 21st the last company to have liberal underwriting for these devices (Prudential) will begin classifying people using E-cigs and Vapers as smokers.