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If you and your spouse are making plans to retire, you’re probably wondering whether it’s a good idea to retire at the same time.

If you and your spouse are making plans to retire, you’re probably wondering whether it’s a good idea to retire at the same time.

The Coronavirus pandemic has affected us all in ways that we didn’t anticipate at the start of the year, especially when it comes to our finances. And unfortunately, just as federal emergency benefits are starting to run out, signs of a second wave of the virus are looming—and some may even say it’s already here. 

There are over 30 million small businesses in the United States. Many people start their own businesses in order to become their own boss and take control over their schedules, career goals and finances. It can be incredibly rewarding to start and own a successful small business. But one thing that many small business owners may not think about is a retirement plan. 

More Americans are retiring earlier than you might think

The Coronavirus pandemic has impacted us more than we could ever have imagined in the beginning of 2020. Students and teachers had to quickly transition to online learning. Many people were laid off and furloughed with no financial backup plan. And now we’re facing the tough decision of whether to send our kids back to school in the fall. 

There’s no doubt that it feels great to help someone in need through charitable giving. There are more than 1.5 million nonprofit organizations in the United States that range from food banks and disaster relief centers to churches and cultural centers. And in 2018, Americans contributed over 4 billion dollars to charitable organizations. 

*This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties.

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