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Life Sciences Future – MedTech, their annual conference, is taking place virtually on July 15 – 17, 2020! life sciences industry is sponsoring up to 10 complimentary passes for the event!!If you are interested in this awesome opportunity, please email Geoffrey Roche @ GRoche@HarrisburgU.eduPlease see link for more #HUALUMNIPROUD#HUALUMNISCIENCES

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Life Sciences Future – MedTech, their annual conference, is taking place virtually on July 15 – 17, 2020! life sciences industry is sponsoring up to 10 complimentary passes for the event!!If you are interested in this awesome opportunity, please email Geoffrey Roche @ GRoche@HarrisburgU.eduPlease see link for more #HUALUMNIPROUD#HUALUMNISCIENCES

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Life Sciences Future - MedTech will be held Wednesday, July 15 through Friday, July 17, 2020 using a robust web-based platform that includes both live and on-demand features. The conference will include the most popular event features and will focus on various topics within the medical device, diagnostics, and digital health industries.

Click here to learn about the Life Sciences Future - MedTech Planning Committees. Conference Chair: Bruce Shook, President and CEO for both Intact Vascular and Vesper Medical.

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LSF - MedTech Home - Life Sciences Future - BioPharm

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Life Sciences Future - MedTech will be held Wednesday, July 15 through Friday, July 17, 2020 using a robust web-based platform that includes both live and on-demand features. The conference will include the most popular event features and will focus on various topics within the medical device, diagnostics, and digital health industries.

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Good morning students and alumni.This is a great article that not only links you to the new Forbes 500 list showcasing the top revenue earning companies in the country, but also emphasizes the importance in soft skills. A must read all as I'm sure there are some huge companies you've never heard of. Just look at the Top 10.

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Good morning students and alumni.This is a great article that not only links you to the new Forbes 500 list showcasing the top revenue earning companies in the country, but also emphasizes the importance in soft skills. A must read all as I'm sure there are some huge companies you've never heard of. Just look at the Top 10.

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Fortune recently released its 66th annual Fortune 500 list , which ranks the top 500 U.S. companies based on revenue. Considering these companies employ over 28 million people worldwide, we wanted to know the top 10 skills they are looking for in those employees.

Are there any noteworthy similarities or differences between companies? How do the top 10 skills at these companies compare to the top 10 in-demand skills for all employers nationally?

To figure this out, we took the top 10 companies on the Fortune 500 and explored which skills they mention most frequently in their job postings.

Top 10 US companies

Walmart takes the top spot for the eighth year in a row, followed by Amazon, which jumped three spots from 2019. This is especially impressive growth considering Amazon first appeared in the Fortune 500 top 10 in 2018 (at No. 8).

Continuing an unbroken Fortune 500 streak since 1955, ExxonMobil comes in third and bumped Apple down to fourth.

Health and medical-related companies hold four of the next six spots with CVS Health, UnitedHealth Group, McKesson, and AmerisourceBergen. Warren Buffet's holding company Berkshire Hathaway and AT&T round out the top 10.

Top 10 skills in demand at the top 10 US companies in 2020

To find the top skills, we pulled data from millions of online job postings and compared them by company from 2017-2019. This allows us to see how each company's in-demand skills have changed over time. Here are a few key findings:

Communications is the No. 1 skill overall and is one of the top in-demand skills at each of the top 10 companies.

Other top skills include: management, leadership, customer service, operations, and sales.

Many of these skills are considered "soft" skills, but are crucial in keeping huge companies functioning.

Here are the top 10 skills that appear most in these top 10 companies' job postings. The number in parentheses indicates the number of top 10 companies for whom this skill is one of their top 10 in-demand skills.

As you can see, communications appears in every single one of the top 10 companies' top 10 lists. Communications is admittedly a broad category. But it's still relevant to the smooth operation of any company-especially large ones like the Fortune top 10 with anywhere from 21,000 to 2.2 million employees. This has become even more apparent recently with COVID-19 forcing many companies to embrace remote work.

Communications includes everything from internal and external communication strategies, to giving and receiving feedback, to listening, to public speaking, and more.

Management came in a close second, appearing as a top 10 skill for each of the top 10 companies except for Berkshire Hathaway. Management is another broad, but critical, skill. It includes everything from the management of people, to financial resources, to products and projects, to operations, and more.

Communications at No. 1 and management at No. 2 have traded places since our 2018 version of the Top 10 Skills at the Top 10 Companies . But in general, the skills companies want most have remained relatively consistent.

Now let's look at each company individually and see what they are prioritizing.

#1 Walmart

The top 10 skills you need to work at Walmart in 2020

Since 2017, we have seen a considerable increase in Walmart's job postings, with a particularly large jump in the last two quarters of 2019. Unsurprisingly, the top three skills the is looking for are retail giant sales, merchandising, and customer service.

The Sankey (or flow) diagram above shows how Walmart adjusted the skills listed in its job postings between the first two quarters of 2017 and last two quarters of 2019. This provides an interesting look at how companies and their employees evolve. In Walmart's case, the company has maintained its focus on sales, product, and customer experience.

It's also interesting to note the change in Walmart's prioritization of communications. It went from being the No. 7 skill in early 2017 to the No. 4 skill in late 2019.

#2 Amazon

The top 10 skills you need to work at Amazon in 2020

catapulted from No. 5 to No. 2 this year after increasing its annual revenue by 21% to $281 billion. Notice the increased posting activity in 2019, and how communications has stayed at or near the top of the list, while management has dropped several spots since 2017.

Also note the massive jump in warehousing in late 2019. We'll likely see this skill continue to dominate Amazon's postings into 2020 due to COVID-19. In fact, Amazon announced last month that it hired 175,000 additional people in its fulfillment and delivery network in March and April to help meet increased customer demand.

As Amazon continues to grow, communications will be increasingly important to keep the digital retail juggernaut running efficiently. This could particularly come into play as Amazon builds its HQ2 and responds to employee concerns over working conditions .

#3 ExxonMobil

The top 10 skills you need to work at ExxonMobil in 2020

At , ExxonMobil communications and operations are critical. You'll also notice a good mix of other soft skills like leadership, management, and problem solving. Hard skills more related to the production of Exxon's key product, like oil and gas and refinery, both dropped off the top 10 list in late 2019.

#4 Apple

The top 10 skills you need to work at Apple in 2020

Despite being No. 4 in overall revenue, is the second most valuable and profitable company on the Fortune 500 with $1.2 trillion in market value and $55 billion in profits. In fact, the top five most valuable companies are all tech companies: Microsoft, Apple, Amazon, Alphabet, and Facebook.

Communications has consistently remained Apple's most in-demand skill since early 2017. Meanwhile, management has become slightly less of a priority, while innovation and Python have risen through the ranks. And note how sales and customer service went from being in the top five in early 2017 to being the bottom two in late 2019.

#5 CVS Health

The top 10 skills you need to work at CVS Health in 2020

CVS had a huge year in 2017, including its . It also fully integrated its acquisition of Omnicare, a pharmacy specializing in nursing homes, and all of Target's pharmacies and clinics. Perhaps this is why $68 billion acquisition of health insurer Aetna customer service has been the No. 1 skill ever since.

#6 Berkshire Hathaway

The top 10 skills you need to work at Berkshire Hathaway in 2020

Also ranked as the sixth most valuable company, Warren Buffet's dropped to No. 6 this year after reaching a record high of No. 2 in 2017. The holding company needs a strong mix of Berkshire Hathaway real estate, sales, and customer service skills.

Berkshire Hathaway is a bit of an anomaly. Because it's a holding company, job postings don't tell the same story as they would for another company. For example, while Berkshire Hathaway owns controlling shares in companies like Geico, Duracell, and Dairy Queen, those postings won't show up under Berkshire. They'll show up under Geico, Duracell, and Dairy Queen.

The majority of job postings associated with Berkshire Hathaway in our database are related to Berkshire Hathaway HomeServices. BHHS became the second largest real estate brokerage firm in the U.S. in 2017 -around the same time we saw an increase in Berkshire Hathaway's postings and demand for real estate skills.

#7 UnitedHealth Group

The top 10 skills you need to work at UnitedHealth Group in 2020

's job postings are largely dominated by UnitedHealth Group management. And in general, the top skills have remained mostly the same, but the order now favors softer skills like communications and leadership as opposed to product-specific skills like Medicare, nursing, and Medicaid.

#8 McKesson

The top 10 skills you need to work at McKesson in 2020

is the U.S.' largest pharmaceutical distributor with over 70,000 employees. So, it makes sense that a company of that size requires communications, management, and leadership skills.

There's also been a steady increase in job postings since 2017, and their top three skills remain the same. It's interesting to note how warehousing, sales, and pharmaceuticals have all dropped in the last year. This may have something to do with McKesson increasing their demand for tech roles like software developers and computer and information system managers.

#9 AT&T

The top 10 skills you need to work at AT&T in 2020

Unsurprisingly, the requires more customer-facing skills than many of the other top companies. In fact, note the major uptick in telecommunications conglomerate customer service in early 2019. But like CVS, AT&T still clearly values communications, even if it's less sought after than sales-related skills.

AT&T's profits dropped by 28% in 2019, which might explain why the company slowed down its job postings a bit. You can see the decline in overall posting activity by the way the Sankey chart narrows as it moves to the right after 2018 Q3-Q4.

#10 AmerisourceBergen

The top 10 skills you need to work at AmerisourceBergen in 2020

AmerisourceBergen is the second largest drug distributor in the U.S, earning nearly $180 billion in revenue. However, profits dropped 48% due to impairment charges against PharMEDium, the company's troubled compounding unit ( ). Adding to AmerisourceBergen's woes are thousands of lawsuits and a federal criminal investigation over its "alleged role in the nation's opioid epidemic," according to Fortune. ( is in the same boat).

Perhaps this is why communications and management skills are consistently in high demand. Such skills are certainly useful when responding to legal challenges and public relations issues.

Top 10 skills in demand across all US companies

Now that we've looked at the top 10 skills at the top companies, let's look at the top 10 skills across companies in the U.S. You'll notice a lot of similarities.

When we explored the most frequently mentioned skills in jobs postings, we found that communications, management, customer service, and sales showed up the most. So not only are these skills important to the top dogs in the U.S. economy, but they're also important across the board.

No. 1 skill: Communications

Given the sheer size of the top 10 Fortune 500 companies, it makes sense that skills like communication, management, leadership, and operations are consistently sought after. After all, these kinds of skills are the glue keeping these giants together.

Whether it's recent graduates looking to break into the workforce or experienced workers wanting a career shift, communications is clearly a critical skill to have. There is massive demand, and it will take you far in just about any industry. From manufacturing or healthcare to software and logistics, communications is critical.

Soft skills are in high demand

Also, notice that these top companies are looking for a lot of soft skills mixed with hard (or technical) skills. This mirrors the trend we're seeing in the rest of the market. Yes, these large companies need workers with skills related to their specific products and services. But they also value the "human skills" more commonly associated with the non-STEM degrees .

In short, it's important not to discount the importance of soft skills like communications, management, leadership, operations, and innovation. If the job postings from these Fortune 500 top 10 tell us anything, it's that these skills are timeless, transferable, and valuable.

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The Top 10 Skills In Demand at the Top 10 US Companies in 2020 - Emsi

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Fortune recently released its 66th annual Fortune 500 list , which ranks the top 500 U.S. companies based on revenue. Considering these companies employ over 28 million people worldwide, we wanted to know the top 10 skills they are looking for in those employees. Are there any noteworthy similarities or differences between companies?

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Cover Letter Writing

Research how to write a cover letter. Our free cover letter tips will guide you through the process of writing a cover letter - we'll discuss what to include (and what not to) to make your cover letter stand out from the rest. The cover letter is an important part of the job application process; therefore make sure you're not making the common mistakes of other job hunters.

Resume Writing

Presently, there are a great deal of companies that specialize in how to write a resume. However, which one resume writing service is the best? We've searched for the sites offering the best resume writing services. Each resume service that we've included has an expert editorial staff that keeps up to date on the best ways to highlight your career qualifications for your particular industry.

Tools To Find a Job

Once your resume is written, you'll need to distribute it to the correct people - i.e., your future employer. We've compiled a list of resources that offer resume distribution services. These sites specialize in getting your resume reviewed by hundreds of employers that are actively seeking qualified candidates - like you.

Interview Tips and Tools

To stack the decks in your favor and stand out from the others, we've compiled a list the top 7 tricks we've found for getting your resume to stand out. Follow-up is very important to the job hunt process. Therefore, we've also outlined the basics for how to write a thank you letter. We've outlined what you should include, what you shouldn't, and some tricks to make your cover letter stand out from the rest.

Free Resume Examples

View our Free Resume Examples and Samples.

Career Tools

Tools to get you an interview and land the job.

More Resources

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How to Write a Resume - Resume Writing Tips & Sample Resumes

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Research how to write a cover letter. Our free cover letter tips will guide you through the process of writing a cover letter - we'll discuss what to include (and what not to) to make your cover letter stand out from the rest.

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GSK is hiring a QC Manager! Are you interested in working with cutting-edge laboratory technology to improve quality and accelerate regulatory compliance? If so, this Quality Control Manager role could be an exciting opportunity to explore.As a Head of Quality for the Marietta GSK Vaccines site, you will be leading the Quality organization with focus on implementation of Quality standards, continuous improvement, quality direction, oversight and governance, and people and organizational development. This role reports to the Vice President of Quality Secondary and is a member of the Marietta Site Leadership Team (MLT) and the Secondary Quality Leadership Team (SQLT), and Marietta Quality Council.

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GSK is hiring a QC Manager! Are you interested in working with cutting-edge laboratory technology to improve quality and accelerate regulatory compliance? If so, this Quality Control Manager role could be an exciting opportunity to explore.As a Head of Quality for the Marietta GSK Vaccines site, you will be leading the Quality organization with focus on implementation of Quality standards, continuous improvement, quality direction, oversight and governance, and people and organizational development. This role reports to the Vice President of Quality Secondary and is a member of the Marietta Site Leadership Team (MLT) and the Secondary Quality Leadership Team (SQLT), and Marietta Quality Council.

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The link is not working. Please email me personally.
GeneCarlo
gveno@harrisburgu.edu

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The HU STEM-UP Network helps women accelerate their career goals and create a wider understanding of the needs of women in STEM. The STEM-UP Network is now offering online seminars to help continue professional growth and education, and also to provide an opportunity to engage and interact with members of the STEM community. The sessions will be high energy presentations and the participants will have an opportunity to engage and ask questions. The sessions are FREE! Register for any session that would be of interest to you. To register for a session, please contact Rubina Azizdin, Director, STEM-UP Network at RAzizdin@HarrisburgU.edu •	Friday, May 29 I Going Online All the Time – The Benefits and Perils Greta Ferkel•	Friday, June 5 I Easy Tips for a STEM Woman’s Salary Negotiation Merissa Bankert•	Friday, June 19 I Networking in a Virtual World Bev Magda•	Friday, July 10 I The Transformative Power of STEM and How Women Are Transforming It Jeff Remington

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The HU STEM-UP Network helps women accelerate their career goals and create a wider understanding of the needs of women in STEM. The STEM-UP Network is now offering online seminars to help continue professional growth and education, and also to provide an opportunity to engage and interact with members of the STEM community. The sessions will be high energy presentations and the participants will have an opportunity to engage and ask questions. The sessions are FREE! Register for any session that would be of interest to you. To register for a session, please contact Rubina Azizdin, Director, STEM-UP Network at RAzizdin@HarrisburgU.edu •	Friday, May 29 I Going Online All the Time – The Benefits and Perils Greta Ferkel•	Friday, June 5 I Easy Tips for a STEM Woman’s Salary Negotiation Merissa Bankert•	Friday, June 19 I Networking in a Virtual World Bev Magda•	Friday, July 10 I The Transformative Power of STEM and How Women Are Transforming It Jeff Remington

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3 Reasons You Shouldn’t Chase the Bear Market Rally

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3 Reasons You Shouldn’t Chase the Bear Market Rally

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As hard and fast as stocks fell starting in late February, the rebound of the past few weeks has been nearly as stunning. From a low of 2,237 on March 23, the S&P 500, a broad benchmark for large U.S. stocks, had gained 28%, retracing more than half of the original 34% decline.

That doesn't mean investors should rush back in now, however. Rallies in the middle of bear markets are to be expected. While we still see areas of opportunity (in areas like financials, small caps, cyclicals and health care), a great deal of uncertainty remains.

Below are three key questions. Until investors have answers, markets are likely to remain volatile.

When will the economy reopen? We don't know and the trade-offs between preserving economic vitality and risking the public health can feel like a prisoner's dilemma with no good outcome. Morgan Stanley's biotech research team sees a peak in U.S. cases in mid-May and gradual reopening starting in mid-June, but that is contingent on the availability of widespread testing and monitoring. Clearly, there could be setbacks and delays in this timetable.

Will consumers start spending? Roughly two-thirds of the economy is based on consumer spending and recent economic data has been even worse than expected in terms of unemployment, retail sales and consumer sentiment. Even with stimulus checks, extended unemployment benefits and low interest rate loans, it's unclear whether the majority of consumers will remain cautious about their spending and behavior long after social distancing requirements have been lifted.

What will full-year corporate profits look like? Given the first two unknowns, it may be too early to forecast 2020 earnings with accuracy. Morgan Stanley Research estimates there will be a 20% earnings decline and has a year-end price target of 3000 for the S&P 500. That's only 125 points above where we are now. If the recovery is delayed or reported profits are worse than currently modeled, that price target may not hold.

There are plenty of reasons to be optimistic. Even before the current rally took off, I wrote that it wasn't too early for investors to return to stocks given the cheap valuations, huge amounts of government stimulus anticipated and likely trajectory of the pandemic.

I'm not suggesting now that you avoid stocks, but rather that you return your portfolio to the appropriate asset allocation for your time horizon and risk tolerance. A Financial Advisor can help you figure that out if you don't know, but a typical balanced portfolio is made up of 60% stocks and 40% bonds. Even if you didn't sell stocks in March, you would have to buy them in April just to get back to target allocations.

I continue to recommend dollar-cost averaging, or buying stocks at consistent intervals (say, once a month) regardless of price. That allows you to avoid the risk of putting a lot of money into the market just before a dip while reinvesting when stocks may still be relatively cheap. I also recommend favoring actively managed funds over passive index funds. That way, professional portfolio managers can help identify specific areas of opportunity and avoid potential pitfalls.

Markets have moved very far, very fast given still high levels of uncertainty. Rather than chasing those returns, now is most likely the time to stick with a longer term strategy to rebuild your exposure to risk while using volatility to your advantage.

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Why You Shouldn't Chase the Bear Market Rally | Morgan Stanley

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As hard and fast as stocks fell starting in late February, the rebound of the past few weeks has been nearly as stunning. From a low of 2,237 on March 23, the S&P 500, a broad benchmark for large U.S. stocks, had gained 28%, retracing more than half of the original 34% decline.

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Alumni Working with Students on Internships

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Alumni Working with Students on Internships

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Message from Experiential Learning.

Due to COVID-19, I have heard from several of our students that their Summer 2020 internships have been canceled. This could be an amazing opportunity for both alumni and current students to connect if any alum have projects that students can work on remotely.
If you know of any opportunities, please email gveno@harrisburgu.edu

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If you wish to make a gift to the Harrisburg University The Emerging Scholars Assistance Fund aims to support the 100+ students still on campus with emergency funding. If you would like to make a donation to this fund, see the link below

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Harrisburg University of Science and Technology has been, from the very beginning, an endeavor of, by and for the citizens of the Commonwealth-a university born of the community that delivers a science and technology education in a way that is not possible anywhere else. Forward-thinking people in government, industry, and education joined forces to make this idea happen.
Browse the university site to find ways to give, to get information on events, to connect with alumni, and to read profiles on HU students whose education is made possible by the generous investments of individuals and organizations.

The continued growth of Harrisburg University requires many partners working hand-in-hand with our faculty, students and staff. We could not provide the high-quality STEM education without the philanthropic support, internships, mentoring and other collaborative efforts from our public and private sector partners. People who support HU understand that investing in Harrisburg University not only enables our students to thrive in highly sought after STEM careers, but also positions our region-and our nation-to be a competitive force in the global economy.

The HU vision means investing in our students, building our community and strengthening Central Pennsylvania's economy.
If you wish to make a gift to the Harrisburg University to ensure its rise as a prominent institution of higher education that benefits students and the region, please contact University Advancement at 717.901.5172 or email Giving@HarrisburgU.edu

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Harrisburg University of Science and Technology has been, from the very beginning, an endeavor of, by and for the citizens of the Commonwealth-a university born of the community that delivers a science and technology education in a way that is not possible anywhere else.

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Group Fitness Class & Interval Training | Orangetheory Fitness US

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Orangetheory Fitness is the latest high intensity workout that's scientifically proven to spike your metabolism and boost energy. Try us for free today!

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Test yourself!

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IRONMAN Triathlon - Anything is Possible®

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See the full 2024 IRONMAN Pro Race Series Calendar >>

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Peloton knows people are stuck at home, so it's now offering new subscribers a 90-day trial, rather than 30 days, to its app. The app doesn't require people to own a Peloton-branded treadmill or bike to participate. People can try yoga, HIIT, stretching, strength training, and other classes.

This news comes after an earlier email to members explained that live Peloton classes would still continue, although without public attendees. It has also closed its retail stores through at least March 29th, although it still plans to deliver treadmills and bikes remotely.

Multiple streaming workout services have begun offering free trials for the millions of people who are being told to stay inside for the foreseeable future. Peloton might have one of the most enticing offers, however, because it's giving away three months' worth of programming, which is enough time for people to develop a habit and possibly want to stick with the routine.

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Peloton offers free 90-day subscription trial for its at-home workout app

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Peloton knows people are stuck at home, so it's now offering new subscribers a 90-day trial, rather than 30 days, to its app. The app doesn't require people to own a Peloton-branded treadmill or bike to participate. People can try yoga, HIIT, stretching, strength training, and other classes.

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Powertrain Hershey- Live Stream Workouts

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Powertrain Hershey- Live Stream Workouts

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Power Train is a wonderful gym It is the cleanest gym I have ever been in All the instructors are ve... ry personable and motivating I especially love Tuesday morning s with
T we first do pound them finish up with Yoga in the Zen Den

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Power Train is a wonderful gym It is the cleanest gym I have ever been in All the instructors are ve... ry personable and motivating I especially love Tuesday morning s with T we first do pound them finish up with Yoga in the Zen Den

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-including Ripped and Rumble

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I love golds! I could never go to another gym after this one. It is the cleanest gym I have ever bee... n to. The atmosphere from the staff and other gym members are always friendly and inspiring. They have a great amount of classes, equipment, and group trainings. I highly recommend this gym. I have many other gyms closer to me but I do not like them how I like golds!

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I love golds! I could never go to another gym after this one. It is the cleanest gym I have ever bee... n to. The atmosphere from the staff and other gym members are always friendly and inspiring. They have a great amount of classes, equipment, and group trainings.

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Planet Fitness Free Workouts via Youtube

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Planet Fitness Free Workouts via Youtube

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We're Planet Fitness - The Judgement Free Zone®. We're known for our low prices, friendly staff, and positive environment. Become a member today!

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When will you get your stimulus cash, and how? | CNN Politics

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The US government is preparing to send out direct payments to help individuals amid the coronavirus pandemic, but those who need the money most may be waiting the longest to see it.

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Understanding the Current Economic Crisis

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Understanding the Current Economic Crisis

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-Educated opinions related to retirement/401k

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The U.S. economic expansion at the beginning of the year seemed poised to continue - until the coronavirus pandemic hit.

It has roiled financial markets. Investors - both seasoned and armchair - have been on a roller-coaster ride ever since.

People who are counting on their 401(k) retirement plans or other stock investments have seen values drop substantially, leaving many wondering how they should approach investing and finances going forward.

The Richmond Times-Dispatch asked several financial planning and investment advisers in the Richmond region for their advice on how people should think about financial planning during the economic downturn.

Responses came from Michael Joyce, president of the Richmond-based financial planning and investment advisory firm Agili; Dalal Maria Salomon, CEO and founding partner of Henrico County-based Salomon & Ludwin LLC; Jamie Cox, managing partner of Chesterfield County-based Harris Financial Group; and Kent Engelke, chief economic strategist at Capitol Securities Management in Henrico.

QUESTION: How should people prioritize their finances during this severe downturn? What are the most important things to think about in managing finances now?

Michael Joyce: "Make sure you have an emergency fund of 3-6 months of living expenses. You will earn next to no interest, but you will appreciate that it is there if you have unexpected expenses. Pay your bills. It is imperative to maintain a good credit rating. If you are having problems making rent, mortgage, car or credit card payments, reach out to your landlord or creditor to ask for payment deferrals or other accommodations until you are back on your feet.

If eligible, take advantage of some of the provisions of the CARES Act like the waiver of required minimum distributions for 2020 or the Paycheck Protection Program for small business owners.

Take the time to write out your financial goals and objectives. Prioritize the things that will help you achieve your objectives such as increasing your retirement plan contributions and de-emphasize things that detract from achieving these goals such as rarely used subscription services."

Dalal Solomon: "We have always advised clients to avoid emotional decisions when it comes to the markets - this is an investor's worst enemy. Right now, focus on a logical plan to make sure you have the cash available to cover your spending needs for the next 12-24 months.

If you have that set aside, take a breath and don't fall prey to selling good investments after markets have already plummeted.

The most important thing to think about right now is: 'Do I have a plan in place and an adviser that I trust to get me through this?' If the answer is no, now is the time to do something about that."

Jamie Cox: "Preservation of cash is key during any downturn, especially if your job situation was uncertain before the COVID-19 crisis. Review your budget and determine things you can eliminate temporarily and make sure you have taken full advantage of the litany of stimulus programs authorized during this time.

If you qualify for pandemic unemployment assistance, take it. If you haven't received your economic impact payment yet, find out why, and try to get your banking information current to receive it.

If you are a small business owner who would qualify for the paycheck protection program, apply for it. The ability to service your debts and meet all of your ongoing necessities is priority one, with a secondary focus on refinancing current debts to lower interest rate options to the extent possible.

Anything you can do to improve your cash flow makes this shock less impactful on your financial future and allows you to avoid taking on debt or dipping into your retirement savings at what could be the most inopportune time, given recent price declines."

Kent Engelke: "In my view paying down debt is the greatest priority, to reduce monthly expenditures. Generally speaking most people and business enter bankruptcy or have financial difficulties because of burdensome debt loads.

It is widely accepted that the economy is going to contract by the greatest amount since the Great Depression. Unemployment is surging, erasing all jobs created since 2001.

The financial impact is mindboggling, perhaps only mitigated by governmental action. Perhaps the greatest question of our age is what type of rebound will occur and when will it commence?

I have strong views about the rebound, believing that in the next 30-45 days small businesses may be facing an entirely different set of problems - surging prices for goods and labor that will impact profitability as the economy reopens.

A reduced debt load will ensure viability. My views are similar to that of several Federal Reserve officials, one of a possible 'V' shaped rebound."

***

QUESTION: What, if any, changes should people make to their 401(k) or other retirement savings plans?

Michael Joyce: "It is important to remember that retirement is a long-term objective. Even if you are nearing retirement age, you may have 30 years or more that you may live during retirement.

You should match up your retirement plan allocations with your long-term investment time horizon. If you have too much in short-term, stable value investments that will return less than the rate of inflation, you may sleep better today but you will eat worse in 20 years."

Dalal Solomon: "The best thing to do right now with any new contributions to your 401(k) plan (not your existing allocation - this portion needs to be discussed with your financial adviser) is to methodically buy into this market. As an example, buying an S&P 500 index, where you are buying a basket of the 500 largest U.S. companies, at discounted prices is always a good idea. As the adage goes: 'Buy on fear and sell on greed.' "

Jamie Cox: "Retirement savers who remain employed and are able to contribute should continue to do so, and if possible, increase contributions. Since you contribute each pay period, you are able to buy shares of your 401(k) options while prices are low and mute the downturn in your portfolio.

This type of buying is one of the most important and beneficial features of a 401(k) and should be viewed as an advantage.

Many people turn away from buying during downturns, which turns about to be the worst decision an investor can make. If you panicked and transferred your 401(k) assets to stable value funds, consider restoring your allocations while markets are still down."

Kent Engelke: "I believe there is a distinct possibility the global economy has forever changed where companies will now focus on reliance and resilience of their supply chains versus price. Production may move back to the U.S. to ensure the reliability of goods, but such moves will impact profitability and margins. This may impact valuations. I believe the days of passive investing - AKA indexing - are waning, a view shared by the late John Bogle, the father of passive investing.

Against the above backdrop, I would focus on value shares and the smaller capitalized companies. I would also consider purchasing variable rate fixed income bonds. The amount of debt added to the nation's balance sheet is unprecedented. At some time - I do not have any idea as to when - there must be reckoning of this historical surge in sovereign debt.

There are only two ways to overcome massive debt, bankruptcy or inflate. Bankruptcy is not an option. I think I should write history is littered with many examples of the impact of surging debt levels and all of which ultimately lead to higher interest rates.

Why should today be different as it is never different there are just different people. Hard assets - residential real estate, commodities, etc. - should perform best in a rising rate environment."

***

QUESTION: Does this remain a good buying opportunity?

Michael Joyce: "There are still many investment opportunities that are still below their long-term enterprise value.

But there is still uncertainty about when this crisis will pass so there will likely still be some down days before it is over. It may not be the time to back up the truck and load up but you can certainly nibble on good long-term opportunities."

Dalal Solomon: "As there have only been seven corrections of this magnitude, we are in rare and unique times. It is our belief, that we are not in a 1929 type event.

At the same time nor do we believe this will be a 2018 V-shape bounce to new highs. We expect some vicious rallies and perhaps a panic low yet to happen.

As we have always emphasized, markets are unpredictable and responding emotionally is rarely a good strategy. However, if you are a long-term investor, buying during declines can be very beneficial."

Jamie Cox: "No downturn ever feels like a good buying opportunity - 2009 sure didn't. However, the way to higher future returns is through lower short term prices.

The ability to own solid companies with an excellent business, and maybe even a dividend, at a 25% discount doesn't come along very often. No one knows how this particular recession and downturn will play out, but I do know that markets will rise long before the end is clear."

Kent Engelke: "Depends. In my view the economy, society, and the methods of production have forever changed.

The dysfunctional trading mechanics of the fixed income market were greatly exposed, causing an unprecedented $5 trillion injection into the markets on March 15. The Federal Reserve is now the bond market. The bond market is about 20 times the size of the equity markets, and I am certain there will again be regulatory changes.

Unfortunately, and if history is of any guide, today's regulatory changes will sow the seeds for the next crisis. No one has any idea of the reforms that will be instituted, reforms that will impact all markets.

I reiterate my belief there is considerable value in the small cap and value arena. These areas, which have been entirely decimated over the last six years, offer considerable value and should be partially immune to possible regulatory changes and would perhaps benefit as production facilities migrate back to the U.S."

***

QUESTION: What other advice can you provide?

Dalal Solomon: "The best advice we can offer is to please keep your emotions in check and take care of your health and the health of your family and community.

Let your financial adviser monitor your financial plan, the markets and your investments. If you don't have a trusted financial adviser or a financial plan that focuses on your spending needs and your personal risk tolerance - it's never too late to get one. This will not be the last crisis we will have to manage through.

One last thing - the time to plan for events like this are before they happen. Reacting now, by selling in a panic is never a good strategy. This is why it is so important to understand how you are investing, and the risk posture of your entire portfolio.

No one wants to talk about risk when markets are rising but, it is crucial to do just that."

Kent Engelke: "Historically, portfolios that are constructed emphasizing a macro economic and geopolitical thesis along with individual security analysis do well. From 2014-20, passive investing and technology-based trading, however, greatly outperformed with many believing that yesterday's methods are obsolete.

However, as indicated above this technology-based trading was a major reason as to why the markets imploded.

I believe there will be a reversion back to traditional macroeconomic analysis where the old-age question of 'It is not what you do but rather why you do it' will become imperative."

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The 401(k) Calculator can estimate a 401(k) balance at retirement as well as distributions in retirement based on income, contribution percentage, age, salary increase, and investment return. It is mainly intended for use by U.S. residents.

401(k) Early Withdrawal Costs Calculator

Early 401(k) withdrawals will result in a penalty. This calculation can determine the actual amount received if opting for an early withdrawal.

Maximize Employer 401(k) Match Calculator

Contribution percentages that are too low or too high may not take full advantage of employer matches. If the percentage is too high, contributions may reach the IRS limit before the end of the year. As a result, employers will not match for the rest of the year. This calculation can show the contribution percentage window in order to take full advantage of the employer's matching contributions.

Related
Retirement Calculator | Roth IRA Calculator | Annuity Payout Calculator

401(k) Information

A 401(k) is a form of retirement savings plan in the U.S. with tax benefits that are mainly available through an employer. It is named after subsection 401(k) in the Internal Revenue Code, which was made possible by the Revenue Act of 1978. Self-directed 401(k)s exist for people who can't participate in employer-sponsored 401(k)s. Contributions to a 401(k) are made as pre-tax deductions during payroll and the resulting dividends, interest, and capital gains, all benefit from tax deferment. This means that assets in a 401(k) grow tax-free and won't be taxed until a later point, usually during retirement. Employees, sometimes called plan participants, can contribute a certain percentage of their pre-tax salaries to their 401(k) plans. However, in addition to the annual limit set by the IRS, it is possible for employers to set limits on the percentage of their paychecks that employees can contribute. In addition, as part of a 401(k) plan, employers can choose to match employee contributions, usually up to a certain percentage of the employee's paycheck. The IRS contribution limit increases along with general cost-of-living due to inflation. The 2018 deferral limit for 401(k) plans was $18,500, the 2019 limit is $19,000, and the 2020 limit is $19,500.

General Pros and Cons of a 401(k)
Pros

Tax-deferred growth-Similar to traditional IRAs or deferred annuities, growth of investments with a 401(k) are tax-deferred, which means earnings on interest, dividends, or capital gains accumulate tax free. This gives these retirement plans an advantage over other methods of saving for retirement, such as cash, active investing accounts, or real estate.

Employer matching-401(k)s are known for often including an employer matching program. A survey has shown that 43% of employees would prefer to take a pay cut for a higher employer contribution to their 401(k)s, rather than the other way around. Experts have likened the aspect of employer matching of 401(k)s to "free money," or "pay raises" that should never be left on the table. Different employers use different methods of matching, such as a percentage of salary up to certain levels, or as a percentage of contributions up to a certain limit.

Tax-deductible-Contributions to traditional IRAs and other retirement plans may or may not be tax deductible, as they can depend on tax brackets and other retirement plans in which an employee may be involved. On the other hand, contributions to a 401(k), both from employees and employers, are always tax deductible because they reduce taxable income, lowering total taxes owed.

High contribution limits-401(k)s have relatively high annual contribution limits. For 2020, the limit is $19,500 for those under 50, and $26,000 for those over 50. On the other hand, the combined annual IRA limit is $6,000 for those under 50, and $7,000 for those above 50.

Creditor protection-401(k) funds are generally protected from bankruptcy. This is also the reason why it is normally not recommended to use 401(k) funds to avoid foreclosure, pay off debt, or start a business.

Cons

Few investment options-Generally speaking, 401(k)s have few investment options; because they normally originate from employers, they are limited to what is offered through employers' 401(k) plans, as compared to a typical, taxable brokerage account.

High fees-Compared to other forms of retirement savings, 401(k) plans charge higher fees, sometimes as a percentage of funds. This is mainly due to administration costs. Plan participants have little or no control over this, except to choose low-cost index funds or exchange-traded funds (ETFs) to compensate.

Illiquid- 401(k) funds can only be withdrawn without penalty in rare cases before 59 ½. This includes all contributions and any earnings over time.

Vesting periods-Employers may utilize vesting periods, meaning that employer contributions don't fully belong to employees until after a set point in time. For instance, if an employee were to part ways with their employer and a 401(k) plan that they were 50% vested in, they can only take half of the value of the assets contributed by their employer.

Waiting periods-Some employers don't allow participation in their 401(k)s until after a waiting period is over, usually to reduce employee turnover. 6 month waiting periods are fairly common, while a one-year waiting period is the longest waiting period permitted by law.

A 401(k) is a Defined Contribution Plan

Unlike a defined benefit plan (DBP), also known as a pension plan, which is based on formulas for determining retirement withdrawals, defined contribution plans (DCPs) allow their participants to choose from a variety of investment options. DCPs, 401(k)s in particular, have been gaining in popularity as compared to DBPs. Today, the 401(k) defined contribution pension plan is the most popular private-market retirement plan. The shift in choice between DBPs and DCP can be attributed to a number of reasons, one of which is the projected length of time a person is likely to stay with a company. In the past, it was more common for a person to stay with a company for several decades, which made DBPs ideal, since deriving the most value out of a DBP required a person to stay with their company for 25 years or more. However, this is no longer the case today, as the workforce turnover rate is much higher. DCPs are highly mobile in comparison to DBPs, and their values do not drop when a person switches companies. When an employee with a 401(k) plan changes employers, they generally have the option to:

1. Leave their assets in their previous employer's 401(k) plan

2. Rollover their previous 401(k) to their new employer's 401(k) plan

3. Rollover their old 401(k) to an Individual Retirement Account (IRA)

4. Cash out their 401(k), but pay taxes and a 10% penalty

Keep in mind that different employers may have rules regarding what is permissible. In general, 401(k) rollovers can only be requested once every twelve months. For more information about DBPs, DCPs, or to do calculations involving pension plans, please visit the Pension Calculator.

401(k) Investments

To generalize, most 401(k) offerings allow an individual to invest in a variety of portfolios. These vary between mutual funds, index funds or exchange-traded funds, all of which have an assorted mixture of stocks, bonds, international market equities, treasuries, and much more. All have different pros and cons. The above options usually provide slow and steady growth of assets over time. Automated portfolios that adjust exposure to risk based on projected retirement age, such as target retirement funds, are also common. Participants who want to use their 401(k) retirement funds to actively invest in individual stocks can do so if their plan is set up a certain way. If permitted by plan administrators, investors can transition an employer plan to a self-directed 401(k) or roll a 401(k) into an IRA, which, as a form of saving for retirement, is less stringent with investment options.

Employer Match

A 401(k) match is an employer's percentage match of a participating employee's contribution to their 401(k) plan, usually up to a certain limit denoted as a percentage of the employee's salary. There can be no match without an employee contribution, and not all 401(k)s offer employer matching.

As an example, an employer that matches 50% of an employee's contribution for up to 6% of their salary would contribute a maximum of 3% of the employee's salary to the employee's 401(k). Another common matching scheme is a dollar-for-dollar employer match, up to a certain percentage of salary.

Taking full advantage of an employer's match by contributing to a 401(k) can make even more financial sense than the opportunity cost of many other things, such as paying off high interest debt. To illustrate, a 401(k) that matches 100% of contributions up to a certain amount generates an immediate 100% return on investment for the contributor (even more if considering tax-deferred growth over time), which is pretty hard to beat!

Employers mainly offer 401(k) matches in order to attract and retain a talented workforce and to incentivize saving for retirement. Annual contributions to an employee's account cannot exceed the lesser of 100% of the participant's compensation, or $57,000 in 2020 ($56,000 in 2019). Contributions from both employee and employer go into 401(k) plans untaxed, and the funds grow tax-free over time. The funds are taxed when withdrawn from a presumably advantageous standpoint, since retired account holders are most likely in lower tax brackets than they were while working.
401(k) Vesting Periods
Some employers require a vesting period for their 401(k) plans in order to incentivize employees to stay long term. Vesting refers to how much of a 401(k)'s employer contributions are owned by an employee. An employee that is fully-vested has full ownership of the funds in their retirement plan. Unlike employer matches, employee contributions are always 100% vested.

4-year vesting period are fairly common. After the first year of employment, an employee is entitled to 25% of employer contributions even if they leave the company. This increases to 50% in the second year and 75% in the third year, with the employee becoming fully vested after 4 years. This is referred to as graded vesting. Some companies do not have schedules that increase vested amounts each year, but instead allow employees to become fully-vested after a certain period of time. This is called cliff vesting, which means all of the vesting takes place at a certain point in the vesting schedule. In this case, an employee that leaves a company before becoming fully-vested will have to forfeit all employer contributions. Different 401(k) plans have different rules regarding vesting. For more accurate information, it is best to speak with human resources or 401(k) plan administrators.

Early Withdrawal

Contributions and their subsequent interest earnings as part of a 401(k) plan cannot be withdrawn without penalty before the age of 59 ½. In some cases (described below), exceptions are made and early withdrawals are permitted. Under these circumstances, early 401(k) withdrawals are still subject to ordinary income taxes, but not the 10% penalty.
401(k) Hardship Withdrawal
Some 401(k) plans allow for withdrawals if there is proof of hardship. In order to qualify, a person must submit substantial proof of hardship to administrators who will decide whether or not to grant a withdrawal. A hardship withdrawal cannot be returned to an account once a disbursement is made. Not all employers or plan administrators offer hardship withdrawals. Some of the conditions under which an early withdrawal might be granted are listed below:

Unexpected, unreimbursed medical expenses, or medical expenses that exceed 7.5% of adjusted gross income

Costs related to the purchase of a principal residence

Post-secondary tuition and education expenses for the next 12 months

Expenses to prevent foreclosure on or eviction from the participant's home

Burial or funeral expenses

Expenses for the repair of damage to a principal residence

Non-Financial Hardship Withdrawal
Not all early withdrawals have to be classified as financial hardship in order to be granted. Examples of these include the account holder:

passing away resulting in the account being paid to their beneficiary

having a qualifying disability

terminating employment when they are at least 55 years old

withdrawing an amount less than what is allowable as a medical expense deduction

withdrawing an amount that is related to qualified domestic relations orders, such as a court order to provide money to a divorced spouse, a child, or a dependent

beginning substantial equal periodic payments. See IRS rule 72(t) for more information

It is important to consider the true costs of taking an early distribution from a 401(k). Taxes, penalties, and the reduction of assets that enjoy compounding, tax-deferred growth within the 401(k) should all be considered.

401(k) Distributions in Retirement

Anyone older than 59 ½ can begin receiving distributions from their 401(k)s, but they can also choose to defer receiving distributions to allow more earnings to accumulate. Distributions can be deferred, at latest, until the age of 72. Between the ages of 59 ½ and 72, participants have several options:
Option 1: Receive Distributions
Distributions can be received in the form of either a lump sum or in installments. A lump-sum distribution allows a person to receive all of their 401(k) funds immediately, but forfeits the benefits of tax-deferred compounding while also incurring income tax on the distribution on the year it is withdrawn, which can be a significant amount.

Installment plans allow a person to receive a set amount from their 401(k) periodically. The payment amounts can be typically changed once a year, but certain plans allow for more frequent changes. When choosing the installment option, one of the hardest decisions to make is exactly how much to withdraw each month or year. There are many factors to consider, such as life expectancy, investment performance, how much a person may need to live comfortably, and Social Security. A common rule of thumb is the 4% rule, which suggests withdrawing 4% annually. Note that each distribution must be at least the required minimum distribution (RMD) in order to avoid a penalty. RMD is calculated based on life expectancy and the account balance at the end of the previous year.
Option 2: Rollover
It is also possible to rollover a 401k to an IRA or another employer's plan. No taxes will be imposed on rollovers. Both Roth and traditional IRAs generally offer more investment options. Moving after-tax money into a Roth IRA can help diversify retirement portfolios. Keep in mind that traditional IRAs also require minimum distributions at age 72.
Option 3: Annuity
Some plans allow 401(k)s to be converted into annuities, which are usually offered through private insurance companies. Similar to rollovers, no taxes will be imposed on conversions. The annuity will pay a monthly benefit for the duration of the owner's projected life expectancy. If a joint-and-survivor annuity is involved, the primary account holder and designated beneficiary will receive monthly payments for the duration of both their expected lifetimes.
Option 4: Do Nothing
Distribution of funds can be postponed if the retiree wants to take advantage of the benefits of tax-deferred compounding for as long as possible. This is possible up until the age of 72, after which the government will require mandatory annual distributions.

Required Minimum Distributions

Anyone that reaches age 72 is required to take distributions from their 401(k). This is called a required minimum distribution (RMD). Traditional, SIMPLE, and SEP IRAs have similar rules imposed by the IRS. The exact date at which RMDs are required is April 1st of the year after a retiree reaches the age of 72. In order to determine the exact amount, retirees can take their 401(k) retirement assets and divide it by a life-expectancy factor, which changes slightly every year.

The federal penalty for not taking the RMD is a 50% tax on any amount not withdrawn in time. The amount of the required distribution is based on the prior year's December 31st account balance and an IRS life expectancy chart. In some cases, a person who has not withdrawn the necessary amount can attempt to avoid the penalty by withdrawing the shortfall immediately, filing Form 5329 with the IRS, and providing valid reasons as to why the deadline was missed. The IRS may forgive the missed withdrawal.

There is one exception to the RMD rule: any employee with an employer-sponsored 401(k) when they turn 72 can get out of the RMD, as long as they remain employed. This is only if their plan doesn't mandate RMDs and they don't own 5% or more of the company. However, as soon as they retire from the company, they will be subject to RMDs.

Self-Directed 401(k)

A self-directed (SD) 401(k), sometimes called a solo 401(k), is a way for self-employed individuals to participate in a 401(k) plan. Although their purpose is aimed specifically at the self-employed, SD 401(k)s can also be offered to employees as an alternative to a traditional 401(k) plan through their employers, though it is uncommon.

For the most part, SD 401(k)s share the same characteristics as traditional 401(k)s including:

Tax-deferred contributions

Specific contribution and distribution amounts

Early withdrawals penalty before 59 ½

Required minimum distributions after 72

The main benefit of a solo 401(k) is that, for the most part, they can legally be used to invest in almost anything, which can include real estate, tax liens, precious metals, foreign currency, or even money lending. Keep in mind that there may be limits on types of investments as set by individual plans. The ability to expand investment horizons is one of a SD 401(k)'s main features.

SD 401(k)s allow plan participants to borrow from their funds as personal loans for any reason, such as for credit card debt, mortgage payments, investments, or even a vacation. The limit is usually up to 50% of their account value, or $50,000, whichever is less.

Roth 401(k)

The Roth 401(k) is somewhat different from the traditional 401(K) as a retirement savings plan. It combines some features of the traditional 401(k) along with some features of the Roth IRA. The main difference is the timing of taxation. Similar to Roth IRAs, Roth 401(k)s are retirement plans that utilize after-tax contributions instead of pre-tax income. What this means is that taxes are paid upfront, and during retirement, qualified withdrawals are tax-free. The same annual contribution limits of $18,500, or $24,500 for individuals who are 50 or older still apply.

However, unlike the Roth IRA, contributions can't be withdrawn from a Roth 401(k) without penalty until five years after the plan starts, while a Roth IRA's contributions (not earnings) can be withdrawn at any time. This rule for the Roth 401(k) applies even after the age of 59 ½, when tax-free distributions are generally allowed. Also, unlike the Roth IRA, it has required minimum distributions (RMD) at age 72, though at that stage a Roth 401(k) could be rolled into a Roth IRA to avoid RMDs, without any tax penalty. The ability to withdraw contributions at any time, penalty and tax-free, as well as not having an RMD are two significant advantages of a Roth IRA that are missing in Roth 401(k)s.

It is possible to contribute to both forms of 401(k) simultaneously, as long as the sum of contributions to either are still within the annual contribution limits, similar to the treatment of the sums of traditional and Roth IRA annual contributions.

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Free 401K calculator to plan and estimate a 401K balance and payout amount in retirement or help with projections, early withdrawals, or maximizing employer match. Experiment with other retirement calculators, or explore hundreds of other calculators on topics such as finance, math, fitness, health, and many more.