As the November election approaches, we are receiving more questions about how this event can impact investment portfolios. Some individuals have a specific election outcome they perceive as cataclysmic for the economy and markets. Other individuals are more generally concerned about the volatility that could surface in, what appears to be, a highly contested race […]
With the Evangelical Covenant Church’s (ECC) recent announcement to sell its central office building at 8303 West Higgins Road in Chicago, you may be wondering what that means for Covenant Trust’s offices there. Early in the year, we made the decision to relocate our office. Our anticipated move date is November 2020.
Our decision process started […]
When you hear the term “financial literacy” it means learning the basics about handling your money. It means understanding how to budget, knowing the importance of saving, investing and handling credit wisely. It means creating a vision for where you want to be, setting goals, and creating the plan to get there.
Knowing how to manage […]
A will is an essential estate planning document. The advantage of having a will is that it gives you the decision-making power for your family and assets after your death. In your will YOU decide:
Who you want to distribute your assets and personal property to?
If you establish trusts through your will, who will administer them?
The Coronavirus Aid, Relief & Economic Security Act (CARES Act), passed in early 2020, included provisions that applied to IRAs. Recently the IRS, in Notice 2020-51 dated June 23, 2020, answered questions on some of the provisions in the act and provided additional relief. The following points regarding IRAs were addressed in the Notice. Specifically, […]
It is important to start saving for retirement as soon as possible. But once you get to retirement, how can you make your money last? Even in retirement, you will need a financial plan to manage your money and assets. Be sure that plan includes the following:
A Withdrawal Strategy
Determining how much to withdraw from your […]
Congratulations to you on this exciting time in your life. As you look ahead and start managing your own money, here are three tips to get your finances in order:
Aim to save at least 10% of your salary
Yes, 10% sounds like a lot. You do not have to start saving at 10%, but you eventually […]
Have you ever promised yourself you would stick to a budget? Then two weeks later you find that your budget is everything but a budget? Knowing your values and what is most important to you can help. How do you get started?
Name your values and what is most important to you.
Start by framing your […]
With all the blogs and articles about the coronavirus, one can soon get tired of them. Here is a different slant – not about how to clean or redecorate your house – but rather why you should review and clean up your financial records.
When we meet with clients, many times they do not have a […]