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The Extra Mile

Scott C. Little, Vice President, Berkshire Money Management

Scott C. Little, Vice President

Last Thanksgiving, a client emailed me, asking to transfer funds to another account of hers—electronically. But we can’t do that by email. So, I let her know I’d need to call her.

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Zack Marcotte, Financial Advisor, Berkshire Money Management

Zack Marcotte, Financial Advisor

A client told me he had recently changed jobs and asked if I would roll over his 401(k)—into an existing Roth account. I asked if he knew whether his original 401(k) had been a traditional, or a Roth. Was he sure?

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Bill Schmick, Managing Director and Portfolio Manager, Berkshire Money Management

Bill Schmick, Managing Director and Portfolio Manager

A family client of mine, led by an 82-year old widow and grandmother, gave me an opportunity to really reach out beyond just business. Over time, I grew to know the family and this lady rather well, and had come to appreciate our conversations.

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Insights & Advice

Take CARES of yourself

Dalton — The 880-page CARES (Coronavius Aid, Relief, and Economic Security) Act was passed recently. If you don’t know why or that’s important to you, it’s not for a lack of understanding or interest on your part. It’s because there’s been almost too much information thrown at you in a sea of other information. Please allow me to skip fancy language and multisyllabic words that make me seem smart and just give you the bullet points you might have missed. It’s not meant to be a full list, and it’s not meant to be a set of instructions (or advice). My…

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Don’t trade this market

Markets that go up or down several percentage points a day is the new norm. As COVID-19 begins to infect the U.S. heartland, more and more of the country is shutting down.  Deaths and cases have still not peaked, so why should we expect the stock market to have bottomed out? The financial media, I believe, is providing investors a great disservice. Every day, some analyst, money manager, or company executive is either trying to pick a bottom, or telling you the bottom is already in, or arguing that it may be weeks or months away. Ignore them. My column…

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How the Care Act changes the rules on tax-deferred accounts

Listen up, big changes have just occurred because of the newly passed Care Act. Aside from the “free money” that 90% of Americans are expecting, important changes to your retirement accounts have been passed. These changes can save you a bundle in taxes while providing instant cash relief, if you need it. Normally, if you need money from a retirement account, and you are under 59 ½ years old, you are required to pay a 10% penalty, plus the income tax owed on your withdrawal. There are some exceptions to the rule and the Care Act just added a big…

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Current News: April 9, 2020 Small business owners run into red tape

The $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act (has two programs that can help America’s business owners to weather the COVID-19 storm. The $349 billion, first-come, first-served loan programs have seen an overwhelming response from troubled small business owners nationwide. The job is to get the money into their hands quickly. The challenge will be to remove or amend a mountain of regulatory requirements that the Small Business Administration and the financial sector have had in place for decades.  Adding to the confusion are the owners themselves, who are either not aware that there are actually two...

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