July 2020 – TGIF 2 Minutes with Kerrie Debbs, CFP

Why Do We Save Money?

As we persevere through the coronavirus pandemic, consider the following message from the 2019 Archives of TGIF 2 Minutes….

What is your reason for saving money? Is it retirement? Or are there “mini-goals” that would feel really great to achieve today?

Of course, retirement is often a primary long-term savings goal, but not always. “Retirement” encompasses more than simply stopping work and being on a “permanent vacation.” In fact, research published in the Journal of Financial Planning* reports that quitting work cold turkey often is not reality – for a number of reasons.

green typewriter on brown wooden table — **What is your reason for saving money?** Is it retirement? Or are there **“mini-goals”** that would feel really great to achieve **today**?

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YTD Market Performance Broken Down

After talking with a number of clients and friends in the past couple of weeks it became apparent that a breakdown of YTD stock market performance would be informative. There are major pronounced differences currently in the various stock categories. An explanation of these differences could illuminate why certain portfolios have gone up (or down) more than others.

Please note that this discussion is not meant to minimize the importance of performance. Performance is critical; however, the time frame of performance evaluation and the concept of progress toward achieving goals are even more critical to successful investing.

business charts commerce computer — Performance is critical; however, the **time frame** of performance evaluation and the **concept of progress toward achieving goals** are even more critical to successful investing.

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Women, Men, Long Lives & Money

Married, Single, Divorced or Widowed – women tend to live longer than men. There are also new statistics of how mentally sharp and physically fit women stay longer into life. Why is this important? If you guessed that these facts mean that women need to save and invest more then you guessed right. Men AND women, please keep reading!

joyful adult daughter greeting happy surprised senior mother in garden — Women need to build an awareness of saving both on their own (married or not) and together with a spouse if married.

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Tax Payment Deadline

A quick note regarding taxes and upcoming tax payment deadlines. These details could come under the category of “Captain Obvious” but are worth mentioning all the same.

The April 15^th filing deadline for 2019 taxes was extended to July 15^th. There have been rumors of the deadline being extended even further to September or October. This looks ABSOLUTELY NOT to be the case.* The 2019 Tax Filing deadline remains July 15^th. See here: IRS.GOV