The S&P 500 continued to decline in the second quarter, hitting the lowest level since December 2020 as still-high inflation, sharp increases in interest rates, rising recession risks, and ongoing geopolitical unrest pressured stocks and other assets.
In 1769, the French engineer, Nicolas Joseph Cugnot, built the first steam-powered motor vehicle. Two years later, Cugnot crashed one of his inventions into a wall—constituting what is generally considered to be the very first “car accident.” It took over 100 years for the first automobile insurance policy to come into being—the year was 1898. In those days, the policy was intended to cover drivers against accidents with horses.
Auto insurance, although not required in all states, generally covers cars and people against more than just accidents. Possibilities of theft, damage from natural disasters and potential injuries to passengers, pedestrians, and other drivers demonstrate the importance of proper coverage.
In the recent past, there is one word we read and see frequently in the financial press. That word is “uncertainty”. This uncertainty comes at many levels including economic, geopolitical, and health, all areas where there appear to be more questions than answers.
Where are we now with…
…Covid-19? As we have with all our quarterly writings over the last two years, we must talk about Covid-19. For one, we are now entering year three of this global pandemic. From a health care perspective, so much has changed for the better (there are vaccines available, improved treatment methods, etc.).
Many 401(k) investors end up making the same mistakes when choosing their investments. The results are low returns and unbalanced portfolios. Avoiding these four mistakes is a good start for getting more out of your 401(k).
Most homeowners are familiar with Part I of their homeowners insurance policy, which covers damage to their property. However, many policyholders may be surprised to discover the extent to which Part II protects them. Part II of their homeowners policy covers against liability incurred by injuring or damaging the property of another person.
Earlier this month, Hyland Financial Planning partnered with the Financial Planning Coalition in speaking with members of Congress. The goal of this meeting was to advocate for policy measures that ensure financial planning services are delivered in the best interests of the public and to enable the public to identify trustworthy financial advisors.
As the seasons come and go, many of us reach into our closets only to discover our clothes no longer fit or suit our current needs. If this has happened to you, you’re not alone. Life is constantly changing. Things that may have worked well in the past often need to be “altered” as our lives and circumstances change.
Many of you already have estate documents, probably executed many years ago. You need an estate attorney to look over your documents every 10 years or so. Here are a dozen points to review with your estate plan:
What is OPERS?
OPERS stands for The Ohio Public Employees Retirement System. This is a retirement pension system offered to public Ohio employees that replaces the standard Social Security system. As an employee, you contribute 10% of your annual salary towards your OPERS retirement and your employer contributes another 14% of your annual salary.