Coronavirus and Your Finances

The coronavirus global pandemic changed the world in a matter of months. It's understandable that people will wonder what is next, and how to be better positioned to withstand a crisis that is so deep and sad for many people. This section will cover the financial impacts that we will likely face including events in the making.

 

Coronavirus and Your Personal Finance

Get perspective from Finance Globe with current wild economic and sad times, due to the coronavirus pandemic.

May Unemployment Numbers

May unemployment numbers are again bad news and we are still seeing the impact from the coronavirus. 2.123 million Americans filed for unemployment benefits in the week ending May 23, exceeding economists expectations for 2.1 million initial jobless claims. The prior weeks figure was revised higher ...


Scams That are Targeting your Coronavirus Stimulus Checks

Any time there is funding from the government, there is going to be scams out there to try to defraud you. Now scammers are going after your coronavirus stimulus checks. Many of you received a check, but if you were not aware, the federal government, has issued a one-time payment to tens of...


Near Term Outlook On the Economy

Many are hopeful and predicting the economy is going to come back in the summer. However, based on the data to date, that has not happened. The Federal Reserve recently said that U.S. businesses saw limited evidence of a recovery in recent weeks, with economic activity continuing to decline amid...


Advice for Recent College Graduates

This is not a great time to be a recent college graduate. The economy is in terrible shape and there are over 40 million Americans who have recently filed for unemployment in the last 10 weeks. I have asked several associates what advice you would give to recent college graduates. These associates...


May's Stock Performance

The stock performance in May has been very strong, which is a surprise to many. April was very strong and May continued that trend. The stock market finished higher on 5/27, with the Dow and S&P 500 both clearing critical milestones as investors cheered a reopening of the economy and a potential...


Coronavirus Lessons for Anyone with a Retirement Fund

Even in the absence of a global pandemic, retirement is very difficult to manage and plan for. Everyones retirement funds have likely seen the ups and downs recently and likely feel very concerned about the state of our economy. However, now is not the time to panic and make quic...


April Stock Performance

I will not begin to predict or even fully understand the recent ups and downs of the U.S stock market. However, given all the volatility recently, I thought it would be helpful to provide a high-level summary of the U.S. stock market performance each month. Below is a high-level summary for the month of...


Outlook on U.S. Economy

The U.S. economy is facing a significant economic recession likely one that is truly unique and not like other recessions we have ever seen before. There is little doubt that we are already in a recession because of the coronavirus pandemic, with many businesses shut down, and many...


What To Do If You Are Laid Off?

Unfortunately, there have been mass furloughs and layoffs over the past 30-60 days due to the COVID-19 pandemic. Many people are out of work and do not know when they are going to go back to work. If you have recently been laid off, there are a few steps I would recommend for you to take. I hope...


Government Financial Assistance for Businesses and Individuals

The US government is making unprecedented moves to help individuals and businesses during this COVID-19 crisis. Like myself, I am sure you are feeling the effects as our daily life is very different. I know many people are suffering and many businesses are shut down for the foreseeable future. On...


Financial Tips During a Financial Recession

I think it is fair to say the coronavirus is bringing the U.S. economy to a slowdown, although likely could be a complete halt. Most are predicting a recession for at least this year. In order to prepare for a recession, below are a few tips to help you survive through a recession.

Re-evaluate your...


Refinance Opportunities

While the markets are in turmoil and everyone is in isolation due to the coronavirus, there is some potential positives out there from a personal finance perspective. Given the declining interest rates, this would be a great opportunity to refinance your house. In fact, low mortgage rates are leading homeowners to...


What is the Difference Between a Bear Market and a Bull Market

I am sure everyone is watching the stock market very closely. As you hear a lot of terms out there on what kind of market we are in, a lot of financial commentators are stating the bull market is over and now we are in a bear market. A lot of people have asked me, what exactly does that mean? Below is a high level...


Understanding Stock Market Circuit Breakers

You might have seen during the last few weeks people have mentioned the stock market decline triggered the circuit-breaker, but you might have no idea what that means. Given how important they are, I wanted to provide a high-level overview. Please let me know if you have any questions and feel free to share in the...


Recent Stock Market Volatility

Wall Street cannot be calmed down when it comes to the coronavirus. In case you havent been watching over the last few weeks, I want to highlight the recent stock market volatility to you. Please feel free to ask any follow up questions in the comment...


What is a Run on the Bank?

These are very unique times, and I hope everyone is staying safe. I will be posting several articles on the recent volatility out there including an overview of the recent stock market declines, what the Fed is doing to try and stop it, and a few similar articles over the next few days. I wanted my first article to be...


How to Prepare Yourself for a Recession

I am not going to tell you when the next economic recession is. However, I am confident to tell you there will be another recession at some point in the future. When this recession occurs, you need to be prepared. Below are several helpful ways to prepare yourself for an economic recession. Please feel free to...