Business Insider – November 28, 2020

Business Insider recently asked David A. Schneider what Janet Yellen’s appointment as US Treasury Secretary would mean for markets. In the article, he stated, “People are familiar with Yellen from her tenure as Fed Chair, and she is relatively dovish, both of which are pluses for markets,” and added, “Her experience during both the Asian financial crisis and the global financial crisis make her an ideal choice to navigate the challenges we face in getting through the COVID-19 slowdown.”

Read More: Business Insider – November 28, 2020

Barron’s – August 8, 2020

In this article, which considers retirement planning strategies for singles, David Schneider advises that protecting income via disability insurance can be paramount for singles. He states “Your biggest asset might be your ability to earn an income, and if you’re on your own, protecting that ability is super important.”

Read More: Barron’s – August 8, 2020

Acorns – April 17, 2020

In this article, which talks about what to do with a stimulus check, David Schneider advises, “If you need the money soon, keep it liquid,” adding “If you don’t, and you’re able to, put it away for retirement.”
He suggests holding onto the stimulus cash while contributing more to an employer-sponsored plan stating, “That would be a sensible place to start, bumping up your 401(k) options.”

He goes on to suggest investors focus on high-quality investments that are broadly diversified, stating that “ If you do invest the money, you have to expect in all likelihood there will be additional volatility, but you’ll probably be very happy you invested 10 years from now, ” adding “This is a good opportunity to take advantage of markets that are down from where they were just a few months ago.”

Read More: Acorns – April 17, 2020

U.S. News & World Report – March 13, 2020

This article discusses the SECURE ACT. In it, David Schneider explains that the SECURE ACT “is considered the biggest set of changes to retirement legislation in more than 10 years.”

He cautions that new rules requiring death distributions to be taken over 10 years or less, can have huge tax consequences for people who inherit retirement accounts, stating “When most people inherit money, they are probably in their peak earning years – in their 40s or 50s.” He adds “If they inherited an IRA in peak earning years and are forced to take large distributions when their tax bracket is already high, they can be bumped into an even higher bracket.”

Read More: U.S. News & World Report – March 13, 2020

Investor’s Business Daily – December 6, 2019

This article discusses scenarios in which advisory clients may want to do something their advisor thinks is not in their best interest.

In it, David Schneider states that “As advisors, we have to be humble,” since “We don’t walk on water. If they want to do something that we think they shouldn’t do, we counsel them about the risks and pitfalls. But we also have to realize that clients may be right” since none of us can predict the future with certainty.

With regards to speculation, he adds that “I say that speculating isn’t investing. It’s a form of gambling. When I say that, clients get it immediately. They know they can go to Las Vegas for one winning night. But the casino always wins over the long term.”

Read More: Investor’s Business Daily – December 6, 2019