June 2020 Client Connection: Register For Our Client Only Webinar To Hear Directly From Goldman Sachs About Their New Market Outlook…and More

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JUNE 2020

The Client Connection

Every week, we update this Index! You can find a weekly update in our “The Week Ahead” Newsletter!
This is our COVID-19 Index that uses stoplights to indicate the financial stress on our health, economy and markets. It reviews the critical data points and addresses where we are and then provides an overall assessment.

YOUR JUNE CLIENT LETTER REGARDING THE WIDESPREAD DISPARITY BETWEEN THE ECONOMY AND THE STOCK MARKET

The Approaching Light Before the Dawn
Written By Debra Taylor
June 8, 2020

I cannot remember a time when I’ve seen such a widespread disparity between what is happening in the economy and what is happening in the stock market. Let’s take a moment to briefly outline the situation using hard data. The unemployment rate soared to a post-depression high of 14.7% in April, while the survey of businesses by the U.S. Bureau of Labor Statistics revealed a loss of 20.5 million jobs in April, the worst monthly reading since records began in 1939. In a single month, nearly all of the jobs created after the financial crisis disappeared…Read More

THE MARKET MINUTE

Click here to listen to Debbie discuss the most recent unemployment report, why it may be too optimistic and the Recession we are currently in!

JUNE THEME: FAMILY

14 Must-Have Items For Your Home Emergency Kit
Article provided by Kiplingers

Emergency season got off to an early start in 2020. Though the Atlantic Hurricane season officially starts on June 1, the first named storm of the season — Tropical Storm Arthur — started forming off the U.S. East Coast on May 17. This April set a record for the number of tornadoes recorded in the U.S., with 351 twisters (and 40 fatalities)…Read More

Teaching Kids About Money in the Summer Months
Article provided by Carson Group

Summer arrives – bees, picnics, nostalgia and the chaotic sound of kids everywhere. It’s enough to bring back memories of sweating behind a lawnmower or scrubbing grandpa’s car to get a few precious dollars to spend at the mall or the movies…Read More

HAVE YOU MADE YOUR 2019 ROTH IRA CONTRIBUTION YET? TIME IS RUNNING OUT; THE DEADLINE IS JULY 15, 2020!

Monies from a Roth IRA grow tax free and can be withdrawn tax-free (for both you and your heirs), and Roth IRAs do not have RMDs (Required Minimum Distributions) during your lifetime. This means that Roth IRAs can be effectively utilized as a tax-planning tool during your retirement by keeping your taxable income lower, thus limiting your taxes in retirement and lowering taxes on Social Security and decreasing Medicare surcharges…Read More

ARE YOU AWARE OF THE TAX FILING DEADLINE EXTENSION? YOU ONLY HAVE A MONTH LEFT!

The filing and tax payment deadlines have been extended from April 15 to July 15, 2020. If you have already filed your 2019 returns, click here for information on how to send them to us.

HEALTH AND WELLNESS

Can I See My Friends Yet? What the Current Coronavirus Guidance Says
LA Times Article provided by Taylor Financial Group, LLC

Slowly but surely, the restrictions are lifting. More stores are open for pickup. Beaches and hiking trails are welcoming active sun-seekers again, though not loungers. (Also, good luck finding a parking spot.) This flurry of economic activity has a lot of people wondering: Does that mean I can hang out with my friends? The short answer is no, not right now. Just because you can go to the beach again does not mean you can go and share a blanket with your friends just yet…Read More

Click here to download our weekly COVID-19 Index 

Click here for the full Client Connection, June 2020

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