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Jun 23, 2020
The Likely Paths Out of COVID-19
Recessions, defined by economists as negative GDP growth for two consecutive quarters, are a natural component of the business cycle and on average have happened every four years since 1900. Our current situation is different in that it is not solely driven by economic forces. The global pandemic created a sense of urgency to dramatically limit our ability to interact with each other, so what we are experiencing now can be best described not as a recession but rather an economic shutdown. This distinction may be obvious, but it is important for us to understand this as we make our way out of this unprecedented predicament.
Jun 23, 2020
Jun 11, 2020
Podcast: Investment Strategies for Today’s Volatile Markets
The experts of this show featured Stephen Krauss, Vice President, Wealth Advisor, and Brian Murphy, Vice President, Senior Investment Strategist, from CNB Wealth Management.
Jun 11, 2020
Jun 10, 2020
Inflation, Interest Rates and a Day of Reckoning
In the relatively short period from the Great Recession of 2008/2009 to the pre-COVID-19 period ending February 12, 2020, when the Dow Jones Industrial Average reached an all-time high of 29,569, our national debt increased from approximately eight to twenty-three trillion dollars. In the wake of the COVID-19 crisis, many have speculated it will take tens of trillions of additional dollars (in one form or another), to prevent a more significant Depression in the U.S., and to bring our country (and the rest of the world) back to a more solid economic footing. Where will all this money come from and what will the long-term impact be on U.S. inflation and interest rates?
Jun 10, 2020
May 08, 2020
Leveraging a Roth IRA in the Midst of a Market Drawdown
As of April 26, 2020, the Dow Jones Industrial Average was down approximately 20% from its February 12th all-time high - a significant recovery, after being down more than 38% from its all-time high on March 23rd. In the midst of this market decline - the fastest in history - now may be the perfect time to fund a Roth IRA and/or take advantage of a Roth IRA conversion. Establishing or adding to this type of account could help maximize wealth and add flexibility to one’s retirement, tax, and long-term estate plan.
May 08, 2020
May 07, 2020
Lessons Learned from Banking Experts on Weathering the COVID-19 Crisis
In our 133-year history, Canandaigua National Bank & Trust Co. has weathered many humanitarian and financial crises, including world wars, the Great Depression, and the 2008 Global Financial Crisis. Our focus on serving the needs of our customers and our communities has always been at the forefront of our decision making.
May 07, 2020
Apr 08, 2020
Corrections, Recessions and Crashes
If there’s one thing the month of March 2020 has taught us, it’s that the stock market doesn’t go up in a straight line. Indeed, since its very inception, the equity market has experienced corrections, bear markets (often associated with recessions), and crashes. These events occur irregularly, but with some frequency, and, accordingly, it’s important to understand the differences between them, what causes them, how long they last, and what typically follows each unique set of circumstances.
Apr 08, 2020
Apr 01, 2020
The CARES Act: What You Need to Know Right Now
On March 27th, the CARES (Coronavirus Aid, Relief, and Economic Security) Act of 2020 was passed by the House and signed into law by the President. This act, by far, is the largest emergency relief and stimulus package in US history, driven in response to the economic crisis caused by the COVID-19 pandemic.
Apr 01, 2020
Mar 20, 2020
Tips to Handle a Market Decline
Market declines are challenging times and it is important to realize that they are an inevitable part of the economic cycle. Here are some simple tips to consider when thinking about your portfolio.
Mar 20, 2020
Feb 04, 2020
The Year 2019, Reasonable Expectations, and the Election
The year 2019 was a classic example of the markets doing things most people didn’t anticipate. Of all the forecasts made this time last year, the only one really worth counting is that things change. What’s more, they often change in ways we least expect.
Feb 04, 2020
Dec 05, 2019
Keep the Faith: Economy Continues Growth Pattern
The world is a chaotic place, with numerous geopolitical, economic and business conditions suggesting that financial markets are due for a pause. In spite of this, the Dow Jones Industrial Average, the Nasdaq Composite Index and the S&P 500 Index have all gone on to set new all-time highs in 2019. To boot, cyclical stocks have been rallying and perceived safe-haven investments like Treasury bonds and defensive stocks have been selling off. Fear has been supplanted by greed, or optimism at the very least, and the market’s faith in the global economy appears to be unbroken.
Dec 05, 2019
Jan 11, 2017
Earn Too Much for a Roth IRA? Try the Back Door!

Background Roth IRAs, created in 1997 as part of the Taxpayer Relief Act, represented an entirely new savings opportunity the ability to make after tax contributions that could, if certain conditions were met, grow entirely free of federal income taxes.

Jan 11, 2017
Feb 11, 2016
Three Smart Moves for Young Adults

Your 20s is a time for exploration and new experiences, but also a time of emerging personal financial responsibility. And though times are certainly different now for young adults compared to 10 or 20 years ago (for example, more college students graduate with significant student loans and many return home to live with their parents), some advice never goes out of style.

Feb 11, 2016
Dec 31, 2015
The Medicare Premium Spike – Averted!

You may have heard that Medicare will be costing you a lot more in 2016, with premiums increasing perhaps over 50%. Rest assured that is not the case. In fact, it’s quite likely you will pay the same as you did in 2015.

Dec 31, 2015
Apr 03, 2014
Health-Care Reform Changes Affecting Seniors

The Patient Protection and Affordable Care Act, enacted in 2010, contains some provisions that directly affect our nation’s age 65 and older population. If you’re a retiree or a senior, you may be concerned about how these reforms are affecting

Apr 03, 2014
Jun 16, 2011
Looking Beyond the Headlines

Looking Beyond the Headlines - We have all heard about the stock market’s “Lost Decade,” and the nightly news likes to tell us whenever possible if there is bad news in relation to the stock market. Natural disasters, conflict in

Jun 16, 2011
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