On this episode of the Planned Solutions Incorporated Podcast, Inflation rates have been in focus as the year-over-year inflation rate hit 5% in May. However, many gauges of future inflation rates show a far more subdued picture. The 10-year inflation breakeven rate, a gauge of investors’ expectations for inflation over the next 10 years, is currently just 2.33%. In addition, interest rates, which typically increase during periods of high inflation, have actually declined since March signaling low inflation expectations.

Also, Home prices increased 24% year-over-year according to the National Association of Realtors. Meanwhile, the number of existing homes listed for sale has declined over the past four months leading to an even greater mismatch between housing demand and the supply available in the market. This may continue to be supportive of home prices until homebuilders bring new supply to the market.

And, The IRS is finally getting around to correcting tax returns that claimed unemployment benefits but were filed before the American Rescue Plan Act (ARPA) was passed. Under ARPA taxpayers may exclude up to $10,200 of unemployment benefits from federal income tax. Taxpayers who did not claim the exclusion will likely be due a refund once the IRS makes the corrections on their returns. However, taxpayers with more complicated returns may want to analyze to make sure the IRS changes are correct and that they receive the full benefit under the law.

Plus a look at the Planned Solutions Incorporated Office Bulletin Board- As people continue to get vaccinated and the number of COVID-related hospitalizations declines, the world is starting to get back to normal for many of us. In line with this trend, Planned Solutions will once again be back in the office full time following the Fourth of July holiday. So, if you have been holding off on setting up a review meeting until the meeting could be in office, this is the time to set up a meeting. We look forward to returning to some normalcy and being able to see many of our clients in person once again. Of course, those who do not live in the area or are not comfortable meeting in person can still schedule meetings via phone or Zoom.

We have spent the past several months reviewing our cybersecurity strategy to ensure we are using the best practices from our industry to keep our clients’ information safe and ensure operational continuity. As a part of this review, we are constantly seeking out new ways to keep our network secure, securely communicate with clients, and detect any attempts by hackers to breach any part of our systems. As a result of our recent review, Planned Solutions will increase our cybersecurity budget to upgrade our capabilities and incorporate new services designed to detect and prevent data breaches. The security of our client's data is very important to us, making cybersecurity one of our fastest growing budget items in recent years.

Chase Armer's book- Financial Planning Insights is now available at:

store.bookbaby.com/book/financial-…anning-insights

www.amazon.com/Financial-Plannin…1586894022&sr=8-1

To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]

The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.

Planned Solutions, Inc.

ADDRESS: PHONE:

1130 Iron Point Road, Suite 170 (916) 361-0100

Folsom, CA 95630 (800) 750-2111

E-MAIL: FAX:

[email protected] (916) 361-0191

WEB SITE:

www.PlannedSolutions.com

#finance #invest #investment #stocks #inflation #deflation #bonds

On this episode of the Planned Solutions Incorporated Podcast, US economic data has been extremely strong in recent months. Most of the leading economic indicators are at very high levels and have been trending in a positive direction over the past several months. A few areas have still not fully recovered but in most cases, there are easy explanations for this subpar recovery, such as supply chain disruptions, which may be solved in the coming months.

Also, Too often estate planning documents do not take into account the possibility of a future divorce. As a result, estate plans may be frozen for months while a property settlement is hashed out. This could lead to undesirable outcomes should one party die or become incapacitated during the divorce process. Therefore, it may be beneficial to plan ahead and make contingency plans just in case.

And, Many people are surprised to find out that Social Security pays a $255 death benefit when a recipient of Social Security benefits passes away. In cases where Social Security has the information required, they will automatically send out the payment. However, in other cases, a surviving spouse or eligible child may need to apply for the death benefit within two years of the date of death for a payment to be issued.

Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Identity theft and fraud continue to be all too common. However, several best practices can be used to protect yourself:

1. Be suspicious of unsolicited phone calls, e-mails, and texts asking you to send money or disclose personal information. If you receive a suspicious call from an individual or institution that does not accept it, hang up, and call back using a known contact number.

2. Be cautious when sharing sensitive information and conducting personal or confidential business via e-mail since it can be compromised and used to facilitate identity theft.

3. Do not disclose personal or sensitive information on social media sites, such as birthdates, contact information, and mother's maiden name.

4. Do not verbally disclose or enter confidential information on a laptop or mobile device in public areas where someone could see, hear, or access your information.

5. Verify payment requests you receive by using a known phone number or e-mail.

6. Do not click on links in e-mails unless you have verified with the sender that the e-mail is legitimate.

Chase Armer's book- Financial Planning Insights is now available at:

store.bookbaby.com/book/financial-…anning-insights

www.amazon.com/Financial-Plannin…1586894022&sr=8-1

To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]

The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.

Planned Solutions, Inc.

ADDRESS: PHONE:

1130 Iron Point Road, Suite 170 (916) 361-0100

Folsom, CA 95630 (800) 750-2111

E-MAIL: FAX:

[email protected] (916) 361-0191

WEB SITE:

www.PlannedSolutions.com

#finance #invest #investment #stocks #inflation #deflation #bonds

On this episode of the Planned Solutions Incorporated Podcast, TThe US inflation rate has increased in recent months whether measured by the Personal Consumption Expenditure (PCE) index of the Consumer Price Index (CPI). However, the data has been anything but consistent as the two rounds of economic stimulus paid during 2021 have clearly impacted the personal income and inflation data. The question is whether inflation data will be able to trend at an above-average rate without additional stimulus payments.

Also, The American Rescue Plan Act increased the amount of the child tax credit for some taxpayers. In addition, the Act makes a portion of the credit an advanced refundable credit so that it will be paid to taxpayers during the tax year. However, if a taxpayer does not end up qualifying for the credit they may be required to repay it. To avoid this the IRS will allow taxpayers to opt-out of the advanced payment of the credit.

And, The value of bitcoin decreased by more than 50% from its April high to its low in mid-May. This decrease in value erased nearly all of the 115% gain for 2021. This volatility may is the latest test for bitcoin and other crypto-currencies to see if new investors will continue to pile into these assets when the risk of large losses, rather than just the allure of large gains, must be taken into account. Either way, investors will need to accept that a 15% decline in value in one day may lead to large losses without warning.

Plus a look at the Planned Solutions Incorporated Office Bulletin Board- If you have called into our office or dropped by pre-COVID when the office was open, there is a good chance that the first person you talked to was Katelin. Katelin has been working as Planned Solution’s receptionist and in a client service role for several years. Up until recently her schedule has been part-time during the school year and full-time over the summer. The good news is that Katelin has graduated from Sacramento State University and will be working full-time at Planned Solutions on a year-round basis going forward. So next time you call into the office and Katelin answers join us in congratulating her on her accomplishment.

Daryl recently attended the Financial Planning Association NorCal Conference. As Planned Solutions’ representative on the Financial Planning of Northern California Board of Directors, Daryl has been active in supporting the growth and development of the Financial Planning industry. Normally this conference is held in San Francisco but will be held virtually for the second consecutive year. Hopefully, by 2022 we will be back to in-person conferences and the valuable networking that often results from face-to-face meetings.

Chase Armer's book- Financial Planning Insights is now available at:

store.bookbaby.com/book/financial-…anning-insights

www.amazon.com/Financial-Plannin…1586894022&sr=8-1

To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]

The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.

Planned Solutions, Inc.

ADDRESS: PHONE:

1130 Iron Point Road, Suite 170 (916) 361-0100

Folsom, CA 95630 (800) 750-2111

E-MAIL: FAX:

[email protected] (916) 361-0191

WEB SITE:

www.PlannedSolutions.com

#finance #invest #investment #stocks #inflation #deflation #bonds

On this episode of the Planned Solutions Incorporated Podcast, California Proposition 19, which passed last November, has changed the property tax rules for inherited property. This has caused many people to rethink their estate plan and how they will pass real estate to their heirs. However, before making any irrevocable decisions it is important to understand the broad implications beyond property taxes and to weigh all of the pros and cons.

Also, The US labor market recovery has slowed despite the continued improvement in the US economy. Some blame this on the extension of unemployment benefits which has caused low-wage workers to delay re-entering the labor force. This may partially explain the high level of job openings and high unemployment rate. However, there may also be a mismatch between the job skills workers have and those that are in demand.

And, The Required Minimum Dist-ribution (RMD) rules can be fairly straight forward in general but become more complicated when the details are examined. One of these details pertains to the distribution requirements in the year the account owner passes. If the account owner has not yet taken their RMD in the year that they pass away their beneficiaries will be required to fulfill the RMD for the account owner in the year the account is inherited.

Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Tax season is finally over but tax planning season goes all year. Therefore, this may be a good time to review your income tax withholding, especially if you were unhappy with the amount you owed on your 2020 income tax returns or felt your refund was too large and the money could be put to better use during the year. Feel free to contact us if you would like to do a tax projection for 2021 to estimate your income tax liability and review your income tax withholding.

Also, don’t forgiet about the Harlan D. Wood Memorial Cancer Charity Golf Tournament is scheduled for early September. Please mark your calendars if you will be able to attend.

Date: Friday, September 10th, 2021

Location: Rancho Murieta Country Club – North Course

7000 Alameda Drive

Rancho Murieta, CA 95683

Time: 12:30 pm shotgun start with dinner to follow

All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the BBQ.

Chase Armer's book- Financial Planning Insights is now available at:

store.bookbaby.com/book/financial-…anning-insights

www.amazon.com/Financial-Plannin…1586894022&sr=8-1

To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]

The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.

Planned Solutions, Inc.

ADDRESS: PHONE:

1130 Iron Point Road, Suite 170 (916) 361-0100

Folsom, CA 95630 (800) 750-2111

E-MAIL: FAX:

[email protected] (916) 361-0191

WEB SITE:

www.PlannedSolutions.com

#finance #invest #investment #stocks #inflation #deflation #bonds

On this episode of the Planned Solutions Incorporated Podcast, The US stock market has started 2021 on a strong note. Helping to fuel the market rally has been a sharp increase in the level of margin debt (money borrowed in order to purchase investments). Typically, an increase in margin debt is a sign that investors are very bullish which can be a good sign in the short term. However, margin debt must be repaid at some point which means it could cause a wave of selling in the future.

Also, The just-in-time inventory management model has been adopted by many manufacturers as a way to reduce costs. Now that model is causing supply shortages of many goods that have been in high demand due to a lack of the inputs that are needed. This could cause manufacturers to change their tactics and hold larger inventories, the cost of which may be passed on to consumers.

And, Technology continues to take over more and more areas of everyday life by using standardized rules or algorithms to simplify decision-making. Finance is no different as technology platforms have attempted to use simplified models to offer investment management services at a low cost. However, investors should be aware that these trading programs often do not take into account their overall financial picture, including their tax situation, and may create inefficiencies such as an increased tax liability.

Plus a look at the Planned Solutions Incorporated Office Bulletin Board- The 2020 tax return deadline is right around the corner. Taxpayers have until Math 17th to file their personal income tax returns or apply for an extension of time to file. However, an extension of time to file a tax return is not an extension of time to pay any tax due. Therefore, taxpayers should complete as much of their tax return as possible before May 17th in order to be able to estimate the amount of tax due, if any, before the May 17th deadline. Taxpayers who file for an extension but fail to pay any tax due may be subject to a late payment penalty as well as interest on the amount due up until the date that the tax due is paid.

Now that tax season is nearing an end many taxpayers are wondering how long they need to keep their tax records. For most taxpayers, the statute of limitations for the IRS to audit or make changes to a taxpayer’s tax return is three years from the due date of the return or the date the return was filed. Therefore, most taxpayers may now destroy their tax records from the 2017 tax year.

Chase Armer's book- Financial Planning Insights is now available at:

store.bookbaby.com/book/financial-…anning-insights

www.amazon.com/Financial-Plannin…1586894022&sr=8-1

To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]

The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.

Planned Solutions, Inc.

ADDRESS: PHONE:

1130 Iron Point Road, Suite 170 (916) 361-0100

Folsom, CA 95630 (800) 750-2111

E-MAIL: FAX:

[email protected] (916) 361-0191

WEB SITE:

www.PlannedSolutions.com

#finance #invest #investment #stocks #inflation #deflation #bonds

On this episode of the Planned Solutions Incorporated Podcast, The US economy is expected to officially make a full recovery from the pandemic-related recession when the first quarter of 2021 economic growth data is released at the end of April. The strong recovery has caused the Federal Reserve Recession Indicator to fall sharply. Currently, the estimate is that there is just a 5% chance that the US economy will be in recession at this time next year.

Also, Income tax-related identity theft has become more prevalent in recent years and maybe even more common this year due to the refundable tax credit (stimulus payments) available on 2020 income tax returns. As a result, many tax agencies have increased the number of random identity checks to ensure that the tax returns that they receive were submitted by the taxpayers listed on the returns.

And,As RVs have become more popular as a COVID safe vacation option many purchasers are surprised to find that they may be able to deduct the interest they pay on their RV loan as mortgage interest. Many RVs do meet the requirements to qualify as a second home which may allow taxpayers to deduct the interest paid on an RV loan. However, taxpayers should look into the details and how it is applied to their individual circumstances before making such a large purchase, especially if tax savings is a part of the reason for the purchase.

Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Several members of the Planned Solutions team are now partially vaccinated and will hopefully be fully vaccinated soon. Others have not yet had the opportunity to be vaccinated based on the current priorities that the State has in place but hopefully this will change in May. So, at this time we are still not having client meetings in-office but we hope this will change by early summer as the vaccine effort continues to expand in the Sacrament Region.

For those who prefer in-person meetings we hope to be able to accommodate that soon. Meanwhile, those who have found Zoom meetings to be more convenient we will continue to offer that option going forward. Of course, traditional phone meetings will continue to be an option as well.

We are thankful for your understanding and patience.

Chase Armer's book- Financial Planning Insights is now available at:

store.bookbaby.com/book/financial-…anning-insights

www.amazon.com/Financial-Plannin…1586894022&sr=8-1

To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]

The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.

Planned Solutions, Inc.

ADDRESS: PHONE:

1130 Iron Point Road, Suite 170 (916) 361-0100

Folsom, CA 95630 (800) 750-2111

E-MAIL: FAX:

[email protected] (916) 361-0191

WEB SITE:

www.PlannedSolutions.com

#finance #invest #investment #stocks #inflation #deflation #bonds

In this episode of the Planned Solutions Incorporated Podcast, Predictions for US economic growth in 2021 are about 6% or nearly double the long-term trend level. This is largely due to three factors that are likely to support the economic growth rate. First, there is the continued economic recovery that started in 2020 and continued into 2021. Second, the American Rescue Plan Act passed this year will add $1.9 trillion of stimulus in the short term. Third, as more people are vaccinated and economic restrictions are removed it may result in increased spending.

Also, the IRS has announced that it will be making corrections to 2020 tax returns based on the CARES Act and American Rescue Plan Act changes to the 2020 tax law. The IRS asked taxpayers to wait for the IRS to make the corrections rather than submitting an amended tax return which could delay the amount of time to process a refund.

And,The IRS has extended the tax filing deadline to May 17th for 2020 individual tax returns. In the process, the IRS also extended the time that taxpayers have to make contributions to traditional IRAs, Roth IRAs, and Health Savings Accounts (HSAs) to May 17th. This gives taxpayers another month to make contributions that may decrease their current or future tax liabilities.

Plus a look at the Planned Solutions Incorporated Office Bulletin Board-With so many people being vaccinated, we are optimistic that we will be able to have a more normal charity golf tournament this year. So, we have made reservations for the tournament, dinner, silent auction, etc. in the hopes that we will be able to safely gather once again. As a result, the Harlan D. Wood Memorial Cancer Charity Golf Tournament is scheduled for early September. Please mark your calendars if you will be able to attend.

Date: Friday, September 10th, 2021

Location: Rancho Murieta Country Club – North Course

7000 Alameda Drive

Rancho Murieta, CA 95683

Time: 12:30 pm shotgun start with dinner to follow

All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the BBQ.

Chase Armer's book- Financial Planning Insights is now available at:

store.bookbaby.com/book/financial-…anning-insights

www.amazon.com/Financial-Plannin…1586894022&sr=8-1

To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]

The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.

Planned Solutions, Inc.

ADDRESS: PHONE:

1130 Iron Point Road, Suite 170 (916) 361-0100

Folsom, CA 95630 (800) 750-2111

E-MAIL: FAX:

[email protected] (916) 361-0191

WEB SITE:

www.PlannedSolutions.com

#finance #invest #investment #stocks #inflation #deflation #bonds

In this episode of the Planned Solutions Incorporated Podcast, The American Rescue Act includes a number of tax provisions that apply to 2021 and even some that apply to 2020. Many of these provisions phase out at higher income levels so taxpayers should be aware of which benefits they may benefit from and which may be eliminated based on their projected 2021 income. In some cases, diligent tax planning my allow a taxpayer to limit their Adjusted Gross Income (AGI) to a level that will allow them to qualify for additional tax deductions and credits.

Also, The American Rescue Act includes a number of tax provisions that apply to 2021 and even some that apply to 2020. Many of these provisions phase out at higher income levels so taxpayers should be aware of which benefits they may benefit from and which may be eliminated based on their projected 2021 income. In some cases, diligent tax planning my allow a taxpayer to limit their Adjusted Gross Income (AGI) to a level that will allow them to qualify for additional tax deductions and credits. For more information, https://www.irs.gov/payments/online-payment-agreement-application.

And,The American Rescue Plan Act of 2021 provides taxpayers with three different opportunities to collect stimulus payments. Taxpayers who did not file their 2019 income by the time their stimulus payments were processed had their stimulus amount based on their 2019 income. Meanwhile, those who did not qualify for a stimulus payment, or received a reduced stimulus payment, may qualify for additional funds on their 2020 tax return. The third opportunity is based on the income on the taxpayer’s 2021 income tax return.

Plus a look at the Planned Solutions Incorporated Office Bulletin Board-The federal tax filing deadline has been extended to May 17th by the IRS. This will give taxpayers an additional month to collect, file, and if applicable pay their 2020 income taxes. Meanwhile, other states have responded to this news in different ways. For example, California extended its tax-filing deadline in-line with the IRS but did not extend the deadline to make payments. So taxpayers should still try to gather all of their tax information and at least have a good estimate of their tax liability by April 15th so they will know if they need to make estimated payments. This is especially true if you live in a state that has not conformed to the extended IRS filing deadline.

One of the challenges for the 2020 tax season has been tracking down the actual amount of stimulus payments taxpayers received. There has been understandable confusion about the stimulus payments with most taxpayers believing that the second round of stimulus, which was primarily paid in 2021, was a credit for 2021 when in fact it is a credit for 2020. To avoid these issues during the 2021 tax season it is important to maintain records of the amount you receive in the third round of stimulus in preparation for next years’ tax season.

Chase Armer's book- Financial Planning Insights is now available at:

store.bookbaby.com/book/financial-…anning-insights

www.amazon.com/Financial-Plannin…1586894022&sr=8-1

To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]

The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.

Planned Solutions, Inc.

ADDRESS: PHONE:

1130 Iron Point Road, Suite 170 (916) 361-0100

Folsom, CA 95630 (800) 750-2111

E-MAIL: FAX:

[email protected] (916) 361-0191

WEB SITE:

www.PlannedSolutions.com

#finance #invest #investment #stocks #inflation #deflation #bonds

In this episode of the Planned Solutions Incorporated Podcast, Investment strategies focused on Environmental, Social, and Governance (ESG) issues have become a topic of conversation in investment circles. However, this movement has often raised more questions than it has answered as there is no accepted criteria to determine if a company meets an ESG screen and once a criteria is determined it can be difficult to apply when rating companies. However, there are some new tools, that while imperfect, investors can use to assess the ESG rating of their investments. More information can be found at https://www.msci.com/esg-investing

Also, The IRS has strict guidelines as to what charitable contributions qualify for a tax deduction. The donation must be made directly to a qualified charity, the value of any goods or services received by the donor must be subtracted from the amount donated, and the donor must receive a letter or statement detailing the date and amount of the donation.

And,The US labor market continues to recover from the job losses in 2020, although the pace of the recovery has slowed. The US economy added 379,000 jobs in February causing the un-employment rate to decline by 0.1% to 6.2%. However, the total number of jobs lost during the pandemic still stands at nearly 8.5 million despite the 16 million jobs recovered in the last 10 months. One positive is the increase in average hourly earnings of 5.3% over the past 12 months.

Plus a look at the Planned Solutions Incorporated Office Bulletin Board-As the most recent stimulus bill makes it way through Congress there has been a great deal of debate about what benefits should be included and in what amounts. The most contentious issues seem to be who will be eligible for the third round of stimulus payments and the amount and duration of supplemental unemployment benefits. Sone Senators are pushing for the eligibility for the stimulus to phase out at lower income levels which could exclude some middle-income households. In addition, it appears that the amount and duration of supplemental unemployment benefits may be reduced from what was proposed in the bill passed by the House of Representatives.

Another interesting development could impact the filing of 2020 income tax returns. There is now a proposal that would allow taxpayers to exclude up to $10,200 in unemployment income from their federal taxable income. If this provision is made retroactive to 2020 it could force many taxpayers to amend their 2020 tax returns to claim a tax refund. Meanwhile, those with unemployment income reported on their return who have not yet filed may benefit from delaying their filing until the terms of the final bill are known.

Chase Armer's book- Financial Planning Insights is now available at:

store.bookbaby.com/book/financial-…anning-insights

www.amazon.com/Financial-Plannin…1586894022&sr=8-1

To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]

The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.

Planned Solutions, Inc.

ADDRESS: PHONE:

1130 Iron Point Road, Suite 170 (916) 361-0100

Folsom, CA 95630 (800) 750-2111

E-MAIL: FAX:

[email protected] (916) 361-0191

WEB SITE:

www.PlannedSolutions.com

#finance #invest #investment #stocks #inflation #deflation #bonds

In this episode of the Planned Solutions Incorporated Podcast, The Game Stop Saga has captured headlines and led to hearings and debates about what went wrong. However, we would argue that this is an example of the financial markets behaving exactly the way they should. The hedge fund that took excessive risks reported large losses. The investors that helped police the markets by uncovering this excess profited. The speculators who piled on later lost. The companies that are charged with maintaining the integrity of the financial markets put in place restrictions to avoid a financial crisis.

Also, A big part of financial planning is risk management. When it comes to pandemics or natural disasters risk management means planning ahead so that you are prepared for a loss of electricity, lack of access to water, and shortages in food or other necessities. Investing in a disaster preparedness plan may offer a significant payoff if a disaster unexpectedly strikes.

And, The SECURE Act shortened the time period that most beneficiaries have to fully distribute an inherited IRA to 10 years. However, there are several exceptions to this rule which allows surviving spouses, minor children of the original account owner, disabled or chronically ill beneficiaries, and importantly beneficiaries who are less than 10 years younger than the original account owner. Those who are less than 10 years younger than the original account owner include those who are older than the original account owner.

Plus a look at the Planned Solutions Incorporated Office Bulletin Board-Schwab as well as most other custodians have started issuing the 1099-Div and 1099-B tax forms for non-retirement accounts. In the past, these forms have been corrected in late February or early March to account for changes in the number of qualified dividends. This year Schwab has done a better job of getting all of the information needed before sending out the initial 1099s in early January and mid-February. This should reduce the likelihood of corrected 1099s being issued in March, however, it is still possible that some investors will get corrected 1099s. The problem is that some mutual funds may report corrected numbers to Schwab after the 1099s have been issued which would necessitate a correction.

Chase once again volunteered to be the presenter of the Financial Planning Association of Northern California’s Economic Update program. The meeting was held over Zoom which was a change from past years but was still fairly well attended. Chase’s presentation focused on economic and investment themes that often emerge following a recession and market selloff.

Chase Armer's book- Financial Planning Insights is now available at:

store.bookbaby.com/book/financial-…anning-insights

www.amazon.com/Financial-Plannin…1586894022&sr=8-1

To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]

The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.

Planned Solutions, Inc.

ADDRESS: PHONE:

1130 Iron Point Road, Suite 170 (916) 361-0100

Folsom, CA 95630 (800) 750-2111

E-MAIL: FAX:

[email protected] (916) 361-0191

WEB SITE:

www.PlannedSolutions.com

#finance #invest #investment #stocks #inflation #deflation #bonds