There is an element of luck involved in investing. A specific term for this luck is, “Sequence of Returns.” What on earth is that? Answer: it is a risk. And it may just be the most important concept in the world if you ever wish to spend your savings – and have them last as long as you need.
Over what will undoubtedly be a most unusual Memorial Day weekend the possible topics of conversation will be endless. Everything is fair game this year – especially politics (and maybe sex and religion too). Also high on the list will likely be:
what is proper social distancing
kids’ drive-by graduation celebrations
how many Zoom cocktail hours were held in the past 8-10 weeks.
In the spirit of helping as many people as possible get through these truly trying times, I am volunteering my services in the following way:
Do you know or have you noticed a friend, family member, someone at your work, church or a parent at your kid’s school struggling (perhaps financially or job-wise) during the coronavirus pandemic and the related market turmoil?
In the case that you have, I am offering to get on the phone or a video call with that person or people and start by listening to them. If appropriate, I volunteer (free of charge) to offer advice on the basics of financial planning.Continue reading “Free Advice Offer”
If anything has been important since mid-February 2020 it has been being mentally strong and resilient – or having friends and family who are mentally strong to lean on. Believe it or not, this has nearly always been the case with investing.
DISCLAIMER: THIS IS EASIER SAID THAN DONE!
A recent article in The Wall Street Journal alluded to the concepts of mental strength, resilience – and process – amidst the coronavirus.
Now that the calendar has turned from April to May there will be in effect a “Tax Time Groundhog Day” on July 15th, which is the new 2019 Federal (and most States*) filing deadline for 2019 taxes.
A number of people reading this note may already have signed and filed their 2019 tax returns^ in order to turn the page and move on to 2020 spending, budgeting and saving. However, if you are in the camp that is stretching out your 2019 filing until the July 15th date, then consider a few last-minute items: