July 2020

When you leave your employer, you also discontinue contributing to your 401(k) or receiving your employer’s match. You may be going on to another employer or possibly retiring. Either way, you may want to consider a fixed-indexed annuity when rolling over your 401(k) to avoid the following:

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By Joel Rieck

When it comes to your money, a one-size-fits-all formula or product won’t work for you. Your life, your goals, and your worries are unique to you and need a unique plan to give you the financial confidence and peace of mind you long for. But that probably seems easier said than done, right? 

That’s where we come in. At Northland Financial, we are passionate about giving you the guidance, tools, and services necessary to prepare and secure your finances, both for today and the future. 

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When looking to protect your financial future in today’s COVID-19 environment, it’s essential to understand how the economy functions on a historical basis as it relates to the country’s GDP (Gross Domestic Product) and the stock market.

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The U.S. unemployment rate is the percentage of unemployed workers in the total labor force and indicates the health of the U.S. economy. COVID-19 has significantly impacted unemployment to record numbers not previously seen since the government began tracking the data in 1939. COVID-19 has surpassed The Great Depression in the amount of unemployed and the economic fallout to businesses and workers.

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When the U.S. economy is stagnant, the U.S. Government uses fiscal and monetary tools to stimulate the U.S. economy. However, with our economy facing multiple problems, that may not be an ‘easy fix’ in comparison to past recessions. COVID-19, social unrest, permanent business closings, and an upside-down GDP may prove to be difficult problems to overcome in the near term.

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