Weekend Reads: Keeping your finances in check in the age of cornoavirus

By: Kimberly Lankford

April 3, 2020

What to know about making a will in the age of coronavirus

The coronavirus has many people thinking about their estate plans. But it can be difficult to meet with an attorney in person now, especially if you’re in a high-risk group or have any medical issues. This New York Times article describes key estate-planning documents most people need and steps to get these documents executed during this unusual time. Explains executive orders in some states that temporarily allow documents to be notarized through video, and creative steps lawyers and their clients have been taking in states that haven’t changed the rules.

Boomers facing tough financial decisions

This blog post from the Center for Retirement Research at Boston College describes issues that financial planners are dealing with as their clients adjust their retirement plans because of the downturn. Includes good advice on whether to take Social Security benefits early or start tapping retirement savings if you’re laid off before you planned to retire.

Coronavirus stimulus package offers relief for retirees with RMD waiver and penalty-free 401(k) withdrawals

This Washington Post article explains how the coronavirus stimulus package that Congress passed last week (the CARES Act) can provide some relief to retirees and retirement savers. Explains several provisions that that affect retirement accounts.

Ways to bolster your finances due to the coronavirus

Advice on dealing with emergency expenses, debt and retirement if your income and savings have taken a hit because of the coronavirus. Good explanation about provisions in the CARES Act that provide debt relief and special access to retirement savings.

Money moves to survive a coronavirus recession

Helpful guide from Consumer Reports about steps to take if you’re having trouble paying your bills and how to cut your expenses if your income has dropped.

5 things to know about the COVID-19 stimulus payments

Clear explanation from Forbes about who will receive the extra money and when.

10 things you must know about filing for unemployment benefits

If you or anyone in your family has lost their job, this excellent guide from Kiplinger’s can help them understand whether they qualify for unemployment benefits and what they need to do to apply.

Introducing the ‘Grandparents Academy’

This is a welcome break from all of the coronavirus financial articles. With kids home from school and many older relatives sheltering in place, it’s a good opportunity to connect the two generations remotely to learn from each other.

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