With the cloud of the Covid pandemic still hanging heavy across the nation, Americans are sitting on an unprecedented mountain of cash while income, estate and gift tax rates ae changing. Financial planning in the current environment of accelerated change is suddenly much more important.
As for the markets, the year of 2020 began and ended as a wild roller-coaster ride. The global financial markets set record highs in February, and then the coronavirus arrived with an immediate economic freefall causing stocks to plunge. Not long after, investors saw new opportunities in the uncertain recovery and chose to focus on the road ahead. The S&P 500 gained 11% in the quarter, commodities rallied with a gain of 10%, and international stocks began to show signs of outperforming, all spurred on by reopening economies, government stimulus, and the positive developments in therapeutics and vaccines.
