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 15th filing deadline for 2019 taxes was extended to July 15thThere 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 15th . See here: IRS.GOV


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The Corona Purchase

This past week, at a neighbor’s drive-by 11-year old birthday gathering, I learned a new term: The Corona Purchase. The term refers to money spent on a larger one-time purchase amidst the sadness of being forced to stay home for the past three months. The concept also confirms an observation mentioned in a recent edition of TGIF 2 Minutes about families experiencing lower spending overall the past several months – so therefore possibly accumulating extra savings here and there.

Items reported to have been purchased or installed include:

  • Cars
  • Boats
  • Home gyms
  • Swimming pools (think: kids missing swim teams)
  • Outdoor landscaping
  • Small- and medium-sized home remodeling projects.
close up photography of white poodle
“Corona Purchases” may have added value to a home or saved money or monthly expenses in the long-term (in the case of a home gym) which is positive.

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Check Your Beneficiaries

Another quick note this week – but important!

Whatever, whoever you want to call them: Beneficiaries, “Bennys”, Heirs… make sure to check who is listed as Beneficiary or Beneficiaries on your retirement accounts, insurance policies, IRAs or in your Will (if you have a Will).*

Inevitably, time flies. Loved ones pass away or important loved ones, well, change. (Think: divorce, relationship changes). On the positive side, new beneficiaries, or heirs, are born or enter the picture! In the busy-ness of life, often the accuracy of beneficiaries goes unchecked.

angelic statue and sunset scenery
NO ONE enjoys talking about their death, but bottom line, after your death, it is too late to change beneficiaries.

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Silver Lining to Spending

Quick note for your weekend thoughts.

As difficult as it has been to find a silver lining to the pandemic, there have been one or two recurring themes that could be classified as positive, or at least opportunistic. One theme is that a fair number of people with whom I have spoken have reported far lower overall (or at least discretionary) spending in the past couple of months compared to “normal” times. Think:

  • Going out to dinner & drinks
  • Travel… whether weekend or vacations
  • Hair color & hair cuts
  • Nail salons
  • Massage & spa appointments/memberships
  • Traditional Gym memberships
  • Kids’ camps & activities
blue and white sorry we re closed wooden signage
As long as we are stuck with the coronavirus for a little while longer, there are ways to use this time to come out on the other side smarter and more aware of spending

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Portfolios & Mental Health – Part 2

Re-running this edition due to popular demand… Younger and less experienced investors (new college grads, younger workers buying a first home or saving in a 401k for the first time) can especially benefit by learning these steps, but really anyone can be better off:

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.

green typewriter on brown wooden table
Pay attention to the present moment while knowing it is necessary that you and your adviser also consider the long-term.

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Luck, Timing & Investing

From the Archives of TGIF 2 Minutes….

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.

green plants on black soil
There is an element of luck involved in investing. A specific term for this luck is, “Sequence of Returns.” 

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Investment Ideas & the Weekend BBQ

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.

close photography of grilled meat on griddle

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What Comes Next? – Part 1

In these times of knowing virtually NOTHING for sure… there are a handful of possible “What Comes Next” topics that can be covered:

  • What Comes Immediately Next with Coronavirus Closures & Re-openings?
  • What Comes Next in the World Markets?
  • What Comes Next in the US & World Economy?
  • What Comes Next Further Down the Line in General?
  • …When do we all get to go back to work, sports and Life?

hands with latex gloves holding a globe with a face mask
Let’s simply digest that fact for now: there will be immediate, serious change to the way we literally wake up, work, and conduct our lives. 

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Free Advice Offer

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”

Portfolios & Mental Health

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.

achievement confident free freedom
Investing is a long-term process and TRUST in your adviser is paramount – and something for which to be grateful.

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