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The current covid-19 virus has changed many people’s financial plans, at least in the short term, and, at most, for the rest of their lives. For those approaching retirement or Social Security claiming age, Social Security strategies that have been previously decided may be obsolete.

Tax-Loss Harvesting is like the magician pulling the rabbit out of the empty hat.  That rabbit you didn’t see comes as a reduction in taxable income.  And you keep your investment strategy intact if you have a similar alternative to rotate into.

An often-overlooked business planning activity is managing your current cash. During a crisis such as the COVID 19 pandemic and quarantine this becomes an essential factor for success. As Federal Reserve Chair Jerome Powell said recently, liquidity problems can turn into solvency problems. These recommendations are intended to empower you with information for making good decisions.

Strange times, uncertain times, however you like to say it, it is. The U.S market took a tumble in March and with Stay-at-Home orders placed across not just the nation, but the globe, many were expecting that downward trend to continue.

Part of the CARES Act designed to stimulate the economy and keep people employed called the Paycheck Protection Program (PPP) offered loans to small businesses that would be forgiven “tax free” if used for payroll and expenses related to keeping employees working.

We’re all in this…well, not actually together, but we are all experiencing the same disruption of our usual schedules, isolated at home, additional responsibilities of not just our job, but possibly also home schooling, keeping up with the current government restrictions, one way aisles at the grocery and the list goes on and on.

I want to own the casino.

I know that against the best players I will win about 50.5% of all hands and against the masses I will win 52% of the time. If I’m playing every single hand in the building 24/7/365, I’m going to make a lot of money. I want to own the casino.

As COVID-19 has changed the way we all live, it has also created massive amounts of noise and distraction from critical things we all need to know and remember. We have been increasing our posts so that our clients, friends, and readers are provided pertinent information.

These times – the 2020 COVID 19 pandemic – highlight the value of a personal emergency fund more than ever. 

When you have your regular paycheck rolling in, with no disruption in sight, you may not value your stashed cash for emergencies in the same way you do today. 

Right now, you may be wondering, why didn’t I stash more?

Right now, a lot of people are focused on the federal government stimulus plan and how the funds may benefit them. It is important, but I am concerned that we are not as focused on another program that every American should be paying attention to.