Encompass Wealth Management

For those people over age 72: Under the CARES Law,you can suspend your RMD (Required Minimum Distribution) from your IRA/401(k)/403(b) plan for 2020. Some thoughts: 1. Do you need the money now?... 2. If the money will sit in your checking account unused, does it make sense to leave it in the retirement account (presumably earning a higher return)? 3. If your IRA lost value this year, can you wait until the market recovers before taking the RMD? If you expect the market to go up, you may want to keep more of your money invested instead of taking your distribution now. 4. How will delaying the RMD until 2021 affect your taxes moving forward? This is a small consideration. But if you continually make good small decisions about your money, you will probably like the big picture a lot more. Take the time to do some research. Talk to your advisor. Talk to your accountant. Make the right decision for you. If you have questions, please let us know.

Not many people really want to know how life insurance works, but a basic understanding can help you to make better decisions for you and your family. (And help you avoid being sold something that is not right for your situation) If you have 5 minutes, this video gives you the basics.

A good financial advisor can help you feel more in control of your money. there is much more to the profession than picking stocks & wealth management. If you have two minutes, check out this video to get a better idea of the different ways an advisor may be of service.

Diving a little deeper on the importance of staying in the market through the ups & downs- especially if you own index funds. We will never see the end of volatility in the Stock Market. As with anything else, success requires discipline.

https://www.entrepreneur.com/article/348710 Very helpful information for Independent Contractors, Sole Proprietors, DBA's, LLC's, Corporations, or even NPO's. I recognize people may have mixed feelings about accepting money. Just food for thought- the government mandated rules (for the greater good) that have hurt your business. When that happens, the government is supposed to do its best to offset the negative consequences. That's one way we attempt to balance out the common good vs. personal autonomy dichotomy. At least get all of the information.

Good food for thought in here. As with anything, there is no one approach that works for everyone. Admittedly, these are not fun conversations, but they are incredibly important. A little discomfort now could prevent a lot of regret later. You can research your options on your own or you can seek professional advice. The first step is always the hardest!

This video from a Fox News interview with Gene Marks, CPA also provides great insight if you have a few minutes and might benefit from the program. As of now, there is only so much money available so do not wait on this.

If you want more information on the Paycheck Protection Program, check out this article from the Washington Post. It contains some helpful insights and frequently asked questions. This program is available to small businesses, non-profits, solo-practitioners, independent contractors, and more. The business must have been in existence prior to February 15, 2020.

https://home.treasury.gov/cares If you or someone you know runs a Small Business, you can find the Application for the Paycheck Protection Program on this website. The goal is to keep more Americans on the payroll and to eliminate some of the red tape that normally surrounds loans from the SBA. Please share this with anyone who may benefit. Check it out and I will post more information on the program to give you a better idea of what is involved.

If you have a few minutes, check out the video below. If you find it to be a complete waste of 3 minutes, contact me directly for your complimentary hug. Just kidding?

Sharing some observations surrounding investing and personal finance based on conversations over the past few weeks. Try to contain your jealousy of the decor in our home office/elementary school.

Over the past few weeks, I have been working with Kinane Co. Printing to develop a new logo for our firm. They have done a tremendous job and we have narrowed it down to two (see pictures). If you have a minute, please take a look and let me know which one you like better in the comments below. Thank you, everyone!

In December, I resigned my position with Alliance Advisory Group to start an independent financial advisory practice. I want to thank Jim Fashano and the entire team at AAG for their time and effort over those two years. It was a great experience and I will be forever grateful for the opportunity. I also want to thank all of my clients for standing by me through this transition. Working for you is the greatest honor this profession provides and I am grateful every day that I get to work with all of you. This move allows me to offer you a higher level of service and that will always be my highest priority. Thank you! #grateful #thankyou #humbled #excited #service #clientappreciation #newbeginning