By Kathy Longo, CFP®, CAP®, CDFA
Sunday, 29 March 2020
On March 27th, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to address the unprecedented public health and economic crisis related to COVID-19.
This $2 trillion bill is meant to impact both individuals and businesses and contains significant tax-savings measures. It could affect prior tax years while also creating immediate cash-flow.
The Coronavirus has been creating significant disruption to markets, daily routines, and personal safety – but not to your long-term financial plan.
By Jay Pluimer, AIF® CIMA®
Wednesday, 11 March 2020
The Dow Jones Industrial Average Index (DJIA) became the first major US Stock Market to reach “Bear Market” levels today (3/11/2020) by dropping over 20% from its all-time high set in mid-February. Stock markets around the world have been reacting violently to concerns related to the spread of Coronavirus along with uncertainty about the impact on the economy, unknown timing about when the crisis will end, and the serious health risk.
Our primary concern during a crisis is for the physical, emotional, and financial safety of our clients. An important part of our wealth management relationship is to be available to hear client concerns about market events like we are experiencing right now, provide a historical perspective to put the significant daily market moves into the appropriate context, while also proactively communicating what Flourish Wealth Management is doing on your behalf.
It is critical to understand that market corrections (down 10%), Bear Markets (down 20%), and economic recessions (at least two consecutive quarters of negative growth) are included in our investment and financial planning assumptions. Many of our clients have seen Monte Carlo demonstrations about how their financial plan will fare in a wide variety of circumstances, covering over 1,000 tests based on historical data, including bear markets. With a successful financial plan, the current scenario is included (although it’s a lot less painful watching the squiggly lines on a presentation screen than personally experiencing the emotional ups and downs). In addition, for clients who rely on cash flows from their portfolio to support their lifestyle, please remember that your next several years of cash needs are covered regardless of what’s happening in the Stock Market.
How to Overcome the Roadblocks Keeping You from Reaching Your Goals
By Kathy Longo, CFP®, CAP®, CDFA
Friday, 06 March 2020
We’re well into the New Year, and it’s time to check in on your financial resolutions. If you feel your resolve beginning to falter, you’re not alone. In fact, research suggests that about 80 percent of New Year’s resolutions are dead in the water by February. Why does this happen? Let’s delve into four reasons your money goals may be stalled.
Here’s How to Ensure You’re Focusing on the Right Things
By Kathy Longo, CFP®, CAP®, CDFA
Monday, 10 February 2020
It has been estimated that 11 million bits of data travel across our brains every single second, yet we only process about 50 bits per second. You don’t have to be an expert in Information Theory to understand that this means two things: we simply can’t focus on everything and what we do focus on matters. An excellent example is what we choose to emphasize in our financial lives, yet many people have allowed their ‘financial pyramids’ to be turned upside down.
Tips for Transitioning Out of a High-Powered Leadership Role and Into the Next Phase
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 29 January 2020
Retirement can be a difficult transition for anyone, but it can pose an even greater challenge for those leaving high-powered leadership roles. Since their positions are so incredibly demanding, CEOs often don’t have the time or focus to plan their next move. Also, since the average age of retirement for a CEO is just 62, that leaves quite a few years to plan for. CEOs also frequently define themselves by their work, which can make retirement feel like a loss rather than a milestone to celebrate.
