Technology is the New Way of Learning

For the month of September, Insight Wealth Strategies chose to partner with Madison Park Academy located in Oakland, California. Due to the current COVID-19 pandemic, many students in low-income communities have struggled to continue their education online due to lack of access to technology resources.   “Among children ages 3-18, 17% live in households without a laptop […]

Utilizing the Power of Compound Interest

power of compound interest

For investors, there is unfortunately no magic wand or crystal ball that will lead to riches. But saving and investing wisely can open individuals up to something almost as powerful. It is called compound interest, and it is one of the surest ways to build wealth. All it takes is a bit of patience. What […]

5 Financial Tips to Remember During COVID-19

Don’t let the pandemic distract you from your goals  It is very easy to put your goals on hold during a time of extreme uncertainty. However, this is an excellent time to reflect on and possibly even realign your financial goals. If you lost your job or fell into an unexpected medical expense, you may be realizing how important […]

A Look at Segment Rates and their Impact on Choosing a Lump Sum Pension

wealth transfer planning

Individuals nearing retirement who have pensions often have the option of taking that pension in the form of a monthly annuity payment for life or as a lump sum payment taken at retirement. There are a lot of factors that go into deciding between the annuity and lump sum options, and there are benefits and drawbacks to both.

Tax Filing Deadline is July 15, 2020

For American taxpayers who haven’t yet filed, the 2020 filing deadline for the 2019 tax year is almost here. Due to the COVID-19 coronavirus pandemic, the Department of the Treasury and the Internal Revenue Service (IRS) extended the filing deadline for tax returns from April 15 to July 15, 2020.

Retirement Plan Distributions Under the CARES Act

Under normal circumstances, withdrawals from retirement plans and IRAs taken by an individual prior to age 59½ are subject to an additional 10 percent tax or penalty. With the passage of the CARES Act in March, that penalty has been waived for withdrawals taken between January 1, 2020 and December 31, 2020.

IRS Releases Additional Guidance for COVID-19-related Retirement Plan Distributions

On June 19, 2020, The Internal Revenue Service announced guidance via Notice 2020-50 for COVID-19 coronavirus-related distributions from retirement plans under the CARES Act. Through the notice, which aims to help retirement plan participants better understand and take advantage of the CARES Act provisions, the IRS also extended relief to individuals whose spouses and household […]

CARES Act Suspends RMDs in 2020

The Coronavirus Aid, Relief and Economic Security Act (CARES Act), which was signed into law on March 27, contained many provisions to help Americans weather the COVID-19 pandemic. The $2 trillion aid package is far-reaching and included cash payments to many Americans, unemployment benefits, a postponement of the tax deadline to July 15, 2020, aid […]

Expression of Interest (EOI)

At Insight Wealth Strategies we have had the privilege of working with hundreds of Chevron employees as clients for more than 18 years and have been helping Chevron executives, managers and employees in California (San Ramon and Point Richmond) and in Texas (Houston) with their financial planning.

The Impact of the CARES Act

The Coronavirus Aid, Relief and Economic Security Act, signed into law on March 27 in the wake of the COVID-19 pandemic, is the largest economic stimulus package in American history. The $2 trillion coronavirus aid package, also known as the CARES Act, aims to provide economic relief to the United States economy and to help […]