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There’s roughly $150-billion of extra savings in bank accounts as a result of measures to fight the pandemic by keeping people at home. Give some thought to putting some in a registered retirement savings plan before the March 1 contribution deadline
Economists expect some of these billions to be spent when the pandemic eases, which is both understandable and desirable. Consumer spending will be important in getting the economy back to normal levels. But money parked in savings also presents an unusual opportunity to build up your resources for retirement, especially if you’re part of the majority of people who don’t have workplace pensions.
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Yet another behavioral shift brought to you by the pandemic is the surge in stock trading by everyday investors.
My theory is that the surge in stock trading by retail investors would not be happening without the pandemic keeping people at home, bored and looking for excitement. I wish these investors all success, but I also worry about them. The stock markets have a way of turning winners into losers in a flash.
BusinessWorld
January 25, 2021 | 8:05 am
Protection is what insurance mainly gives clients. Knowing that the future cannot be completely certain for anybody, insurance, in its various ways of protecting one’s hard-earned assets, can give clients and their families peace of mind when illness, accidents, disruptions, or untimely passing comes.
Life insurance, for instance, is considered as “a means of providing an instant estate for survivors.” For Edward J. Metzen, a former chair of the current Department of Personal Financial Planning in the University of Missouri (UM), this benefit life insurance provides shows how much it prioritizes protection for clients.
“When buying life insurance, your primary concern should be providing adequate protection; the possible savings feature is a secondary consideration,” Mr. Metzen advised in a guide to insurance on UM’s website.
Borrowers will not have to make payments until Oct. 1 at the earliest.Â
Congress originally passed a relief bill that automatically suspended student loan payments and waived interest from March through September, but was extended by the Trump administration.
Kendra Cowart graduated from the University of Missouri in December 2019. Cowart was a teacher at Eliot Battle Elementary but was let go at the start of the pandemic.
Kendra Cowart graduated from the University of Missouri in December 2019. She says she is grateful for the deferral of federal student loans.Â
Grateful for the student loan payment pause, Cowart remains optimistic about getting her loans paid.