October 2020
Market Update


The October 2020  Market Thoughts Video is now available on our website. Brad McMillan, Commonwealth's CIO, recaps the market and economic news for September. It was a tough month for the markets. They began September with a drop and ended the month with everything down, but by much less than feared. The economic news was better, with improved data from the labor market and consumer confidence bouncing back. Business confidence and investment were also healthy. Overall, the recovery looks to be on a solid foundation. But could the upcoming election pose a real risk?
____________________

1478 Marsh Road
Pittsford, NY 14534

P:  585-512-8453
F:  585-625-0477

Year-End Financial Planning Checklist
 
Although 2020 has been a year of unexpected changes, one routine has remained consistent; the 4th quarter means it's time to begin organizing your finances for the new year.  To help you, here's a checklist of topics to think about.
Student Loan Relief Extended Through End of the Year

In March 2020, Congress passed the CARES Act, which provided a six-month automatic payment suspension on federal student loans through September 30th. In August, the President signed a memorandum to extend the federal student loan relief through December 31st.  What does this mean for student loan borrowers?  
Temporary Payroll Tax Deferral:  What You Need to Know
 
On August 8, 2020, the president issued an executive order to allow the deferral of certain payroll taxes during the last four months of 2020, and the IRS recently provided guidance. This has implications to both employers and employees. Here's a brief summary of the issues. 
REPLAY AVAILABLE - A Thorley Wealth Management Exclusive Event!

On September 22nd, we were fortunate to have Brad McMillan, Managing Principal and Chief Investment Officer at Commonwealth Financial Network, share his in-depth knowledge of the financial markets and current financial issues with Thorley Wealth Management clients and guests. If you were unable to attend the live webinar, you can hear the replay by clicking here .