Covid 19: Accessing Retirement Accounts

With Americans hurting and the unemployment rate at the highest in decades, Kevin McNab explains additional flexibility to take distributions from retirement accounts provided through the CARES Act in this ColoradoBiz Magazine article.

Americans entered the year with a great economy, low unemployment, and anticipation of continued economic success.  The unemployment rate reached lows not seen in decades and Americans were feeling confident. As Valentine’s Day approached, rumors of a virus in China started to hit mainstream media.  Shortly after, the market started to decline, and the first case of COVID-19 was confirmed in the United States.

As the Coronavirus spread, stay-at-home orders were put into place, the stock market crashed, and weekly unemployment claims spiked to record highs. With unemployment in double-digits, and layoffs surly to follow into the summer, Americans are scared.  For those unemployed, there are still obligations to pay…READ MORE!

Tags: , , ,

Kevin McNab

This article is written by Kevin J. McNab. Kevin is President of ACE Wealth Partners, LLC and is a CFP®, ChFC®, and CRPC®. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. The views expressed in this blog post are as of the date of the posting, and are subject to change based on market and other conditions. This blog contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Please note that nothing in this blog post should be construed as an offer to sell or the solicitation of an offer to purchase an interest in any security or separate account. Nothing is intended to be, and you should not consider anything to be, investment, accounting, tax or legal advice. If you would like investment, accounting, tax or legal advice, you should consult with your own financial advisors, accountants, or attorneys regarding your individual circumstances and needs. No advice may be rendered by ACE Wealth Partners, LLC unless a client service agreement is in place. If you have any questions regarding this Blog Post, please Contact Us. Please read our website DISCLOSURE carefully for additional information.