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Timely advice & commentary about investing, taxes, financial planning and more.


By Kimberly I. McCarthy, Esq. / June 24, 2020

There have been a lot of changes regarding Required Minimum Distributions (“RMDs”) in the past 6 months! For anyone that wants to hit the pause button on this chaotic state of affairs and get an RMD “do over”, June 23rd was a good day.

On Tuesday, June 23, 2020, the IRS released formal guidance expanding relief for participants in 401(k)/403(b) plans, IRAs, and their beneficiaries. Specifically, the new guidance extends existing relief backwards (to distributions taken as far back as 1/1/20); extends existing relief forward (by moving the deadline to “reverse” or “undo” an RMD from 7/15/20 to 8/31/20); and by providing a new category of relief (allowing inheritance beneficiaries to re-contribute their RMDs).


By Matthew S. Blank, CFA® / April 20, 2020
Economic forecasts for 2020 have been upended as public health concerns prompted the shutdown of large parts of the U.S. economy in order to prevent rapid transmission of COVID-19. 2019 had concluded on a very healthy note as GDP grew at a 2.1% pace in the final quarter and 2.3% for the year.1 A continuation of moderate growth seemed probable in 2020. If you recall, January and February economic data were solid, characterized by strong employment and a robust housing sector.

By Kimberly I. McCarthy, Esq. / April 20, 2020
As you undoubtedly have heard, in light of COVID-19, Congress passed legislation at the end of March which (among other things) waived all RMDs for 2020. This waiver applies to traditional IRAs, Roth IRAs, inherited IRAs, and 401(k) plans.

By Washington Trust / March 20, 2020
We understand that current market conditions have made many investors nervous. However, we encourage investors to stay focused on their long-term investment goals, as we anticipate that the financial markets will recover, as they have from virus outbreaks in the past. We recommend that you ensure your near-term cash needs are met and resist the temptation to make any major asset allocation changes as a result of current events.

By Washington Trust / March 16, 2020
As we continue to monitor the Coronavirus (COVID-19) Pandemic, Washington Trust Wealth Management wants to assure you that delivering superior service to our clients remains a top priority.

By Washington Trust / March 9, 2020
As concerns regarding the spread of COVID-19 (coronavirus) mount and the financial markets react, the Washington Trust team is here to answer your questions and address your concerns. No one really knows the potential human and economic impact of COVID-19.

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By Washington Trust / January 14, 2020
2019 was icing on the cake to a decade that began with trepidation coming out of the financial crisis and the Great Recession but proved to be extremely rewarding for U.S. investors.

By Washington Trust / January 14, 2020
In a surprise move, the SECURE Act passed as part of the massive end-of-year spending bill that was required to avoid another government shutdown. While there are several positive provisions, Congress paid for the SECURE Act with a very substantial negative provision: eliminating the “stretch” for inherited IRAs and retirement accounts. For most beneficiaries other than surviving spouses, the new rules require that the entire IRA/retirement plan balance be paid out within 10 years.

By Washington Trust / January 14, 2020
The SECURE Act made many sweeping and significant changes for retirement plans, including IRAs. With regard to IRAs, the major changes impact the IRA rules after age 70 and after death.

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By Washington Trust / October 18, 2019
U.S. financial markets have soared year to date through September 30, 2019. Not only has the Standard & Poor's 500 Index (S&P 500 Index) surged 20%, but bond prices have also climbed with the Bloomberg Barclays Aggregate Bond Index advancing 8.5%. Investors are struggling to ascertain the message of the markets. Does strength in stocks presage robust growth, or do plummeting interest rates, which caused bonds to rally, signal a sharp slowdown?

The opinions expressed in this blog are those of the author and may not reflect those of Washington Trust Wealth Management. The information in this report has been obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. Any opinions expressed herein are subject to change at any time without notice. Any person relying upon this information shall be solely responsible for the consequences of such reliance. Performance is historical and does not guarantee future results.

Such information does not constitute legal or professional advice as all situations are unique and are based on individual facts and circumstances.

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