July 10th, 2020

Grab a fresh cup of coffee and enjoy!

Your monthly e-news from TVAMP
This month's e-news features timely market updates (not mainstream media), tips for getting your financial house in order, and a 1-minute video.
Since you may not have visited our office in awhile... We miss you!
Oh Hi, July!

While we’ve faced several health, social, and economic crises this year, we can't help but think about how lucky we are to live in this great country and to remember the resilience and perseverance we’ve demonstrated over the past 244 years. History has shown us that better times will come.

Right now, the big question is when will the economy get back to normal? Although parts of our economy are coming back quickly, other areas may take years to come back fully. Industries like hotels, restaurants, and airlines are going to be under pressure for a long time.

A major second wave of COVID-19 is also a big wild card. Although most of us don’t expect to go into full lockdown mode again like we did in March and April, more restrictions may be put in place, which could hinder the economic recovery.

But it isn’t all bad news. On June 22, Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Disease, said at a congressional hearing that a vaccine may be available by early 2021.

Voltaire said, “History never repeats itself. Man always does.” Given the stock market is driven by fear and greed, it has very human-like qualities, which means history may be a guide for what may happen next. In March 2003, stocks hit a major low before a huge spike into early summer, when stocks consolidated—or sat on their gains—during the summer months, followed by an eventual move higher later in the year.

This article is from our recent blogpost - Fourth of July Optimism

Keep Living Invested,

(865) 226-9982
connect@tvamp.com
Getting your financial house in order can seem overwhelming especially in times like these. With a TVAMP advisor by your side, this can all be managed from one place because we're happy to coordinate:
Tax Planning (with your CPA or accountant)
Estate Planning (with your attorney)
Financial Plans & Investments (that's us!)

Our advisors have a secure contact form on their individual page.

See below for a few helpful financial "housekeeping" articles:
  • The tax deadline is next week. Remember to make your IRA contributions before July 15th (and before you file taxes) for it to be eligible to be counted as a 2019 year contribution. Did you know, the IRS estimates the average person needs 11 hours to prep their tax return? Putting off paying taxes until right before the deadline is human nature. Here's an article to get you in gear!
  • We're hosting two Social Security webinars in August. One at lunch time and one during breakfast. We'll share details on this page next week. We HIGHLY recommend this webinar for anyone nearing age 62.
  • Just married? Or marrying later this year? Congrats! We have a newlywed estate planning cheat sheet you should take a look at... Don't think of these as morbid "END of life documents," think of estate planning as "LIVE your life documents."
  • Don't leave out the funeral plans just because it's uncomfortable to imagine. It's possible to avoid burdening your family with this expense and causing additional stress for them if you go ahead and plan now. We have experience planning this part of life out with clients and we're always here to listen to your concerns before diving into the details.
  • Ever wondered if you should setup a trust? Increasing numbers of people are discovering the potential benefits of a trust — how it can help protect their assets, reduce their tax obligations, and define the management of assets according to their wishes in a private, effective way.
Office hours are still:
8:00 AM - 5:00 PM Monday - Thursday
&
8:00 AM - 4:00 PM Friday

Not Mainstream Media
Tones and opinions that may differ from what you have been exposed to.
LPL Chief Investment Officer Burt White on the Labor Market: “The pandemic has been a major shock to the labor market that will take time to heal, but the solid job gains over the past two months suggest the recovery is well on its way and the recession may already be over.
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Many on both sides feel as if the world is falling apart, and we are certainly dealing with a series of issues that are causing uncertainty. However, especially after the Fourth of July, it’s important to remember history. In the Civil War, the US lost 620,000 men, 2% of the population, the equivalent of more than 6 million people today. World War I, World War II and the Spanish Flu were devastating. Yet, in every case, the United States continued to prosper," writes Brian Westbury and his team of economists.
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What a quarter the second quarter was (April, May and June), with the S&P 500 Index adding 20.0%, for the best quarter since 1998 and the best second quarter since 1938. Of course, stocks fell 20% in the first quarter, so what we really have is a bad case of whiplash in 2020 thus far. “A 20% quarterly gain is quite rare, but the catch is previous large quarterly gains have actually led to continued strength,” according to LPL Financial Senior Market Strategist Ryan Detrick. 

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How can you take care of your spouse just incase something should happen to you? 1-minute video below!
This may be the time you need a trusted financial professional most. If you'd like to schedule a time to talk with one of our advisors, please send an email to connect@tvamp.com or call us at (865) 226-9982.