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At we are dedicated to helping individuals evaluate their financial situations. We want to provide people with tools that can help them make informed decisions. We offer informational material on a wide range of topics because we understand that individuals have diverse financial needs. If you have any questions or concerns, we invite you to take advantage of our complimentary consultation. During the consultation, we can discuss your questions and begin the process of helping you develop a financial plan that provides protection and peace of mind.
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How Severe Was the Market Drop Due to the Covid-19 Pandemic?

The novel coronavirus pandemic has had an economic toll that has affected tens of millions of people. Everyone has felt the impact in some form or fashion.

Many people have lost their jobs. Millions of others have been furloughed. Those saving for retirement and those already retired have also had some surprises.

Equity market indexes saw record-breaking swings. Beforehand, those 1,000-point-or-more swings had taken months or even years to occur.

In the first quarter of 2020, some happened as quickly as in 24 hours. Given all this, it's natural for us to think about how much of a toll that the early days of the pandemic had on everyone's retirement security.

In an article by the Urban Institute, Richard W. Johnson talks about seven ways that the Covid-19 pandemic could undermine the retirement plans of many.

The Most Important Takeaway

Johnson's insights highlight the importance of having a financial plan. They also show how a well-thought-out plan could help you navigate uncertainty and be a psychological safety net in times like now.

One effect of the pandemic was the massive toll on total retirement savings held by retirees and workers in America. The good news is that many have had their money recover (but what also lies ahead is uncertain).

What Happened Last Time (And Why It Matters)

In 2008, the Great Recession and financial crisis led to a huge drop in the Russell 3000, a U.S. market index. Then, the Russell index, which Johnson says is designed to reflect the performance of the U.S. stock market, fell 39%.

During that time, Americans saw a 24% decline in their retirement accounts, from 401(k) plans and other employer plans to IRA accounts.

In total, Americans lost $2 trillion in total retirement savings in 2008, according to Johnson. What about the market impact in 2020?

In the first quarter of 2020, from January 1 to March 31st, the losses were (perhaps surprisingly) even steeper. The Russell 3000 index fell 25% through April 3, wiping out an estimated $3.8 trillion in total retirement savings for Americans.

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Tax Deductions You Won't Believe
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Developing a retirement strategy? It's critical to know the differences between investment types.
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Just Released!
New eBook by: Jennifer Lang How Women Can Prepare For Retirement Now

Retire Educated!

We did lots of research about this very complicated subject so you don't
have to. 

This interactive ebook is filled with financial planning advice and  videos to help you navigate Estate Planning, Social Security, Long-Term Care, Medicare and more.... all for FREE!

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Registered Investment Advisor

Jennifer Lang Financial Services Launches Private Client Group

Our Registered Investment Advisors help ensure that your investments run smoothly. We offer: 

  • 401K Rollover | TSP Rollover
  • Customized Portfolio Construction
  • Asset Allocation
  • Risk-managed strategies for all market conditions
  • Tax Location and Tax Loss Harvesting
  • Security Selection
  • Trading and Rebalancing
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Retire Educated
Seminars and Events

We are committed to helping you make informed decisions about your financial future. We invite all clients, referred guests and visitors to attend our online financial planning seminars.

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Is a SEP-IRA Right for Your Business Retirement Plan?

A SEP can be established by sole proprietors, partnerships, and corporations, including S corporations.

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Long-Term Financing to Protect Your Commercial Real Estate Property

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Understanding SBA Loan Programs Under the Stimulus Plan's CARES Act

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Independent Wealth Planner Strategies with Jennifer Lang
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Jennifer Lang
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Jennifer Lang Financial Services, LLC.

3139 W Holcombe Blvd, Suite 2031, Houston
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