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Chornyak & Associates

614.888.2121  •  877.389.2121   •  Chornyak.com

March 2020

Is anything wrong with your estate plan?  Even for those who have prepared a good plan in the past, it is important to review your plan with your advisor from time to time.  Our first article points out some common mistakes made.  We would be happy to meet with you to discuss the status of your plan.

There has been a lot written about the new SECURE Act which you have probably already read, but our second article summarizes the biggest questions that are being asked, and provides answers that might effect your future planning.

This month's "What's Happening Now" section shares interesting stories on building your wealth in your 40's, how hackers are tricking many to get their passwords, and different ways people are using their Amazon Echo's.

We were honored to recently be named as one of the top Advisors in the U.S. by Forbes.  If you would like to read about this, click here.

We'd like to hear from you. Please feel free to contact us by phone at 614-888-2121, toll-free 877-389-2121 or e-mail chornyak@chornyak.com with any questions or comments.  Or, follow this link to request a meeting with us to discuss your financial planning needs: https://www.chornyak.com/appointment-request 

Sincerely, Joe
Is Anything Wrong with Your Estate Plan?

You don’t have to be ultra-wealthy to reap the benefits from a well-thought-out estate plan. But you do have to make certain the plan is updated often so that these kinds of mistakes don’t occur and hurt the people you love most.

An estate plan consists of the legal documents that will provide clarity about how you would like your wishes carried out both during life and after you die. It consists of three primary documents:

  • A will.
  • A durable power of attorney for financial matters.
  • A health care power of attorney or similar document.

The latter two documents designate individuals to help make decisions involving your finances or health in case you cannot while you’re still living. 

Read More


Answering your Biggest Questions
about the Secure Act

It’s already 2020. Once again, the holidays were a blur—and, once again, Congress passed significant legislation at the last minute. This time, it was the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which was signed into law on December 20, 2019. In the eyes of some commentators, this is the most significant retirement planning legislation in a generation, and it has raised many questions.

To help you understand the details, let’s review some of the most frequently asked questions about the SECURE Act.

Read More

What's Happening Now

Photo Photo Photo
How to Build Your
Wealth in Your 40s
Hackers are getting
better at tricking
people into handing
over passwords
5 unexpected uses
for your Amazon Echo

Market Update

A turbulent February for markets
February was a tough month for markets, ending in a terrible final week—the worst week for U.S. equity market returns since 2008. Investors were spooked by news about the spread of the coronavirus and fled to safe-haven assets. The S&P 500 fell by 8.23 percent, the Dow Jones Industrial Average (DJIA) dropped by 9.75 percent, and the Nasdaq Composite lost 6.27 percent.
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Putting volatility in perspective
Concerns about the spread of the coronavirus were the major driver of market volatility in February. In January, investors were focused largely on the spread of the disease in China and the steps governments around the world were taking to contain it. But in February, news that the virus had spread throughout much of the world spurred fears of a pandemic.
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Economic updates positive, despite coronavirus threat
While investor attention was dominated by the sell-off at month-end, many of the economic updates released during the month showed signs of an improving economy. February’s consumer confidence reports were encouraging, with both major measures of consumer sentiment increasing to multi-month highs.
Read More

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614.888.2121  •  877.389.2121  •  Request Appointment

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