Today marked a 7.6% rise in the market, as the Dow rallied over 1500 points! While this is certainly nice to see, we still may continue to see some additional volatility in our portfolios. Staying invested during bear markets can have a long-term positive impact. The video clip below illustrates how difficult it is to time the market. You will be rewarded for “staying the course” and not moving your investments into cash."
Americans Can Defer for 90 Days
As we continue to face uncertain times, the IRS has made a welcome announcement.
Treasury Secretary Steven Mnuchin has announced that the IRS has decided to extend the filing and payment deadline for 2019 tax returns, allowing taxpayers to defer until July 15 without interest or penalties. Mnuchin indicated this move will put $300 billion into the economy during a time of great economic concern over the consequences of the COVID-19 pandemic.
The payment deferment is subject to certain caps, however. Individuals may defer tax payments of up to $1 million, while corporations may defer up to $10 million. The limits were purposefully selected to benefit small businesses that report income through S corporations, partnerships or other pass-through entities.
Money is a loaded topic, and many people grow up conditioned not to discuss it. It can make for uncomfortable conversations, certainly, and it’s not advisable to disclose all the details of your financial life, but many people are taking the secrecy too far. In fact, forty percent of Americans now admit to lying outright to their partner about money, or to having a secret credit card or bank account. All these acts of “financial infidelity” can be damaging to a relationship because, regardless of the degree to which they are dishonest, they represent a choice to be deceitful rather than truthful.
So, why are people so apt to lie about money? Well, as with many things, being completely transparent with another person can feel vulnerable, leaving us open to judgment. Conversely, deception allows us to avoid discomfort and maintain the status quo in a relationship. With financial disputes consistently listed in the top reasons for divorce, it’s no wonder 15 million Americans are hiding secret credit cards and bank accounts.
Of course, this behavior isn’t healthy. If you find yourself committing some level of financial infidelity, it is vitally important to uncover the source of your dishonesty – shame, pride, fear or otherwise – in order to have a healthy relationship moving forward.
Dimensional Founder David Booth discusses the lessons from 2019 that investors can apply to 2020.
A look back at the Black Friday consumer spending records might have caught some by surprise. The mainstream media continues to gripe about a“struggling” economy and the “death” of brick and mortar stores, and this does not paint an accurate picture for the American worker and consumer. Luckily, we have consumer behavior data to remind us that things are actually looking positive for our economy at the moment.
The Gathering of Light Interspiritual Fellowship, located in Huntington Station, NY will be hosting an event they're calling Spiritual Toolsday on January 14th, 2020 at 7:30 pm. This event will feature a discussion led by Allison Vanaski and Walter Wisniewski during which they will teach that achieving financial stability is not just about money and accumulating wealth. It is spiritual! In their book, The Millionaire Within, they tell stories of how this happens. Join them live and learn techniques to create wealth and find your own "Millionaire Within."
We will be meeting at 7:30 pm
Gathering of Light Interspiritual Fellowship
Unity Center of Healing Light
203 East Pulaski Road
Huntington Station NY, 11746
~ $10.00 for Gathering of Light Members
~ $15.00 for Non Members
All are welcome!
See you there & Please Share!
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