HFS Headlines

SECURE Act 2.0 Get the Jump on this Legislation

Posted by on Apr 12, 2021 in blog | Comments Off on SECURE Act 2.0 Get the Jump on this Legislation

SECURE Act 2.0 Get the Jump on this Legislation

As part of our financial wellness focus for a business, we hope to keep you on the forefront of legislation that can impact the financial wellness of your business and your employees.

Even in an era of extreme polarization, both sides of the political aisle can still come to a consensus on issues like retirement legislation. In 2019, a divided government easily passed the Setting Every Community Up for Retirement (SECURE) Act. And regardless of the balance of power going forward, another retirement law, dubbed the SECURE Act 2.0, is currently in the works.

SECURE Act 2.0 has a long road to walk before it becomes law. The timing of enactment is unclear. Cost has not yet been factored in. There is a high probability of changes as it winds its way through Congress. Passage, may in fact, have to wait until the legislation can be attached to bigger priorities, such as how the original SECURE Act was tacked onto a budget bill.

As a team, we are preparing for what appears to be a significant enhancement to the retirement savings arena. Let’s zoom in on some provisions inside of this proposed act: (more…)

What is the Planning Gap

Posted by on Apr 6, 2021 in blog | Comments Off on What is the Planning Gap

What is the Planning Gap?

You may recall back in 2008 ING ran a series of commercials showing people carrying around a big orange number that was supposed to indicate the “number” they need to have saved in order to be able to retire comfortably. Today’s world is a little more complex than just working toward achieving a dollar amount that will carry you through retirement.

Traditionally there were three components of retirement income that most people relied upon. The first component, an employer defined pension, has all but disappeared for most private sector employees. The next component is Social Security. While Social Security is still a very valid component of retirement planning, there is some uncertainty as to its future in terms of what changes may be necessary to maintain the program. That leaves personal savings as the third component. (more…)

Don’t Stop Believin’

Posted by on Jan 19, 2021 in blog | Comments Off on Don’t Stop Believin’

Don’t Stop Believin’

The year 2019 seamlessly gave way to 2020. Many individuals around the world traveled extensively, enjoyed time with family, and grumbled about their daily commute to and from their 9-5 jobs. What happened in March significantly impacted everyone across the globe. COVID-19 traveled across the world, and life as we knew it changed in an instant. Work and schools went fully remote, commutes were now from the bedroom to your new living room office, zoom/teams arose (who had heard of zoom before 2020…be honest), jobs were lost for millions of Americans, restaurants closed, and last, but not least, childcare became scarce in America.

2020 created multiple levels of physical, financial, and especially mental exhaustion. A change of the work and family dynamic placed parents and children around a dining room table all working side by side. Early in the year we wondered when this would all be over?

A common phrase, according to the wonderful band Journey, was “Don’t Stop Believin’” … (more…)

Q1 2021 Global Asset Allocation Views

Posted by on Jan 13, 2021 in blog | Comments Off on Q1 2021 Global Asset Allocation Views

Q1 2021 Global Asset Allocation Views


  • The global economy showed resilience throughout the COVID-19 crisis of 2020, supported by a policy fueled recovery
  • The roll-out of effective vaccines provides a light at the end of the tunnel
  • Large household savings provides pent-up demand once all lockdown restrictions have ended


Post-Election Outlook

Posted by on Nov 17, 2020 in blog | Comments Off on Post-Election Outlook

Post-Election Outlook


  • Barring some unforeseen event, it appears that Joe Biden will become the 46th President of the United States.
  • The Senate is currently 50-48 with Republicans in the lead. There are two races still to be determined in Georgia with a special runoff scheduled for January 5th.  Republicans are currently favored to win those seats.  Were the Democrats to win those seats, Vice President Harris would be the deciding vote along party lines.
  • The House of Representatives is staying Democratic, though with a slimmer majority. Republicans as of this writing have been able to claw back 10 seats.


Global Asset Allocation Views – Q4

Posted by on Oct 13, 2020 in blog | Comments Off on Global Asset Allocation Views – Q4

Global Asset Allocation Views Q4 2020

3rd Quarter Recap

  • S. stocks have made up significant ground since the March lows, even hitting all-time highs. Vaccine outlook and better therapeutics had been a key driver during the quarter.
  • Markets appear to have turned a corner and entered a new bull market. Similar to 2009, we could expect increased volatility with a few 5-10% pullbacks.  The downside view is policy mishaps push us back into a recession.
  • Stocks continue to look attractive compared to bonds. The earnings yield on stocks is well above what one could expect to earn with the 10-year yield.
  • US consumers remain resilient with retail sales increasing and consumer sentiment indicators perking up.
  • The housing market remains robust. Supply of homes is dwindling, and new home sales have jumped to the highest point since before the 2008 Financial Crisis.
  • Corporate earnings were better than expected and companies provided above consensus forward guidance.


Trust is key!

Posted by on Oct 8, 2020 in blog | Comments Off on Trust is key!

Trust is key!

Trust is a foundational pillar of any relationship. Many choose to hire, partner with, and collaborate only with individuals that they know, like, and trust.

Each profession has characteristics that advance the depth of a relationship between a professional service and a client/prospect. If a business wants to stand tall above a crowded room of competition, then a business needs to have a unique purpose, culture, structure, and value proposition.

What does that unique nature look like? For HFS, it starts with having a purpose. A purpose is your overarching set of goals, morals, and ethics that drive you to get out of bed in the morning; it can be family, faith, your reason for starting a business, etc. It can also be the lifestyle that you want to live, and the legacy that you want to leave behind to your loved ones. Knowing your purpose is of immense value. A clearly defined purpose allows you to create goals, both short term and long term, in pursuit of fulfilling your purpose. (more…)

*Student Loan Debt Reaches 1.6 Trillion Now What?

Posted by on Jul 29, 2020 in blog | Comments Off on *Student Loan Debt Reaches 1.6 Trillion Now What?

*Student Loan Debt Reaches 1.6 Trillion Now What?

You just graduated in the middle of a pandemic, you had to have a virtual graduation ceremony, unemployment rates are double digits and now it’s time to pay back your student loans.  Just like paying for college, paying back your debt is loaded with options.

  1. Student Loan Forgiveness is where I would look first. If you work as a teacher, nurse, doctor, government employee, a non-profit, medical technician, or served in the military to name a few, you may qualify for some or all of your student loans to be forgiven.
  2. Next if your loans are Federal Student Loans you may qualify for an Income Driven Loan. This will allow you to pay roughly 10% -15% of your discretionary income towards student loans.  Discretionary income is what you have left after payroll taxes, social security and basic cost of living expenses have been deducted.
  3. You can consolidate Federal or Private student loans into one, some of these loans can graduate the payment to start out low and increase every two years assuming your income will be growing as you continue growing in your profession.
  4. Finally, loans have a standard or default repayment agreement. This is what most people end up using.  In many cases, this is the least expensive option as well.


Global Asset Allocation Views – Q3 2020

Posted by on Jul 14, 2020 in blog | Comments Off on Global Asset Allocation Views – Q3 2020

Global Asset Allocation Views Q3 2020

2nd Quarter Recap

  • Markets exited bear territory finishing just shy of all-time highs. NBER (National Bureau of Economic Research) finally called the recession when it appears we may already be exiting and entering a new cycle.
  • Energy was the best performing sector recovering from negative futures contracts as speculators were caught needing to settle the physical delivery of oil. Technology finished in second place as investors continued to favor the safety of big tech.
  • As has been the case for the past decade, domestic outperformed international and growth outperformed value. Small caps broke the trend to best the S&P 500 for the quarter.
  • Thanks to quick fiscal/monetary support we appear to have moved into a new bull cycle and have left behind the worries of a bear market rally and a new low.
  • Economic activity continues to rebound though it still remains at contractionary levels. China had a strong PMI number in June and the global economy hopes to build from that strength.


What to do when things get choppy

Posted by on Jun 19, 2020 in blog | Comments Off on What to do when things get choppy

“What to do when things get choppy”

“Rock the boat, don’t rock the boat baby”- The Hues Corporation

When sailing from one destination to another there will be times when unfavorable weather will arise. Think of taking a cruise on the Atlantic Ocean, or even a boat ride through Lake Erie. An image that may come to mind is an evening cruise where the water was so still that the vessel seamlessly sailed through the night. Another image that may come to mind is one that I have in particular: on a channel off the coast of Ireland, where the ferry that I was on got caught in a storm. The captain of our ship calmly turned on the intercom to assure all passengers that although this current patch of our journey was a bit choppy, we were still full steam ahead towards our destination.

Recently, the “hot item” in the news has been the Coronavirus. It is natural for some individuals to see the market step back a bit and think “Is it time to buy low?” or “Is it time to sell out?” However, this is a good time to see the market step back and think “How does this impact my goals?” (more…)