Michael Budney, CFP

When markets turn negative and you start to see your portfolio drop, emotions can run high. Should I sell? Should I get out of the market entirely, or wait it out? Let me be the antidote to your fear and uncertainty. I made a video explaining exactly what you need to know - check it out!

Portfolio dropping? Market jitters freaking you out? Here's the truth.

This Thursday we look at a couple of important moments regarding Federal Taxes that happened on this day in history:

1861: To pay for the costly Civil War, Federal Taxes were imposed for the first time ever on US citizens at a rate of 3% on all income over $800.

1997: On August 5th, 136 years later, the Taxpayer Relief Act of 1997 becomes Federal Law. Unlike some other “Tax Acts,” this one actually has a significant benefit to taxpayers - the creation of the Roth IRA, which allows for a new way to accumulate tax free wealth for workers.

2021: What sort of tax legislation is likely to come in this or the next few years is unknown. But with the National Debt above $28 Trillion, it seems they likely only have one direction to go. Only time will tell.