February 4th, 2020
tvamp.com | (865) 226-9982
'Tis the Season for Taxes!
1099 mailing schedule, tax season reminders, recession update + more!

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Quote to live by:
"Time is not refundable. Use it with intention."
#FinancialWellness
We know this is a HOT topic right now, so we'll address it first:

1099 Mailing Schedule

Filing later (as close to the April 15th as possible) may prevent you from having to revise your tax return.

LPL mails 1099 Consolidated Tax Statements in four phases, which are outlined below:
 
Wave 1
January 31
Includes accounts with the simplest tax information and not subject to income reclassification
 
Wave 2
February 18
Includes accounts holding securities (REIT, UIT, foreign security or municipal bond funds) that may be subject to income reclassification.
 
February 20
Preliminary 1099 Consolidated Tax Statement – DRAFT COPY. Includes accounts that will not receive a final 1099 Consolidated Tax Statement until March 2 or March 16
 
Wave 3
March 2
In the event investment companies do not furnish tax information to LPL in time for the February 18 mailing deadline
 
Wave 4
March 16
In the event investment companies do not furnish tax information to LPL in time for the February 18 or March 2 mailing deadline and any accounts that hold securities that provide mortgage backed income reporting information
TVAMP helps you Paint Your Financial Picture
Upon retiring, you should think about:

  • What do I value most in life?

  • What big expenses are coming up in the next 5 years?

  • If something were to happen to me, would my family be able to pull all our important data together?

  • If you could paint a picture of your ideal financial situation for your family, what would it look like?

And the sooner you start saving for retirement, the better. (Young professionals, we're talking to you!)
Our TVAMP ladies enjoyed dinner and bowling last Friday night in downtown Knoxville.
Market Watch:
Modest chance for a recession within the next year

LPL Research's "Recession Watch Dashboard" is showing a modest risk of recession starting within the next year. The current expansion is the longest on record, at 126 months, but the economy has grown at a slow and steady rate. We believe this measured pace, along with supportive fiscal policy, has contributed to this cycle’s continued durability.
The SECURE Act:
While the new rules don’t appear to amount to a massive upheaval, the SECURE Act will require a change in strategy for many Americans. For others, it may reveal new opportunities. 
Make time for a financial review
If it's been over a year since you've visited with our team, we recommend scheduling a meeting. Lives change, goals evolve, and time seems to slip away... One hour of your time could impact your entire future.

Call or email us and one of our administrative professionals will work with your schedule to setup a meeting.

(865) 226-9982 or [email protected]
Don't forget to contribute to your IRA before April 15, 2020!
Sustainable Investing Event Last Week
Nowadays, investors aren’t forced to choose between purpose and performance. Some sustainable funds are designed to seek similar risks and returns as broad markets. We held an event last week to discuss what sustainable investing is all about.

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  • Ever heard of the Enneagram? It's a system of nine personality types combining traditional wisdom with modern psychology - a powerful tool for understanding ourselves and the people in our lives. Here's the quiz everyone at our office took a few months ago. (The first one takes a little bit longer. Read the rules first!)

  • We can all agree it's wonderful to help your children but it may not be “helpful” if financial support creates a dependency – and the parent(s) feels obligated to provide that support. Retirees: We don't advise supporting your adult children if it endangers your own financial stability
We hope to create an inviting space for you to get your financial house in order.
Events & Important Dates
  • Friday, February 14th - Happy Valentine's Day!
  • Monday, February 17th - Happy President's Day! Our offices are closed.
  • Thursday, February 20th - Love Your Pet Day! (Watch out for TVAMP pet pics on our social media)
  • February 24th - 29th America Saves Week! Seven things to do instead of spending money (below)
  • Be on the lookout for a complete "Live Invested With Us" schedule of events. We're working hard to lock in some exciting guest speakers and "field trips."
Thanks for reading! We'll be back in your inbox at the end of next month to share more on retirement planning, setting goals, and Living Invested®! In the meantime, we invite you to follow us on social media or tell a friend about us!
Our website is new! Have you checked it out lately??
tvamp.com | (865) 226-9982