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Chornyak & Associates

614.888.2121  •  877.389.2121   •  Chornyak.com

May 2020

Joe Chornyak, Jr., Bob Mauk, and I were recently honored to be included in the 2020 Financial Times Top 400 ranking, as 3 of 12 from Ohio.  The press release providing details of this ranking can be read here.

In addition, Financial Times interviewed Joe Jr. and I and published an article in the April 16 issue, which we include in this newsletter as our first story.

Covid-19 will permanently change the way every generation lives.  Our second article points out differences based on stages in life, and may generate some questions for you as you consider your personal investment strategy.  Give us a call if this razes some questions for you.

This month's "What's Happening Now" section shares interesting stories on tips for teaching your children about money, what Gen Z and Millenials plan to spend their stimulus money on, and Aldi announcing plans to reduce plastic packaging.

We'd like to hear from you. Please feel free to contact us by phone at 614-888-2121, toll-free 877-389-2121 or e-mail chornyak@chornyak.com with any questions or comments.  Or, follow this link to request a meeting with us to discuss your financial planning needs:  https://www.chornyak.com/appointment-request

Sincerely, Joe
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An adviser family firm’s search
for a future-proof formula

In December 1992, Joe Chornyak Jr sat across the table from his father. He had graduated from the University of Dayton, Ohio, and wanted to join his father's financial planning consultancy, Chornyak & Associates.

His father told him he would have to be interviewed for the position. When the interview concluded, Joe asked his father about pay. He was offered a salary of $24,000.

Joe Jr objected, pointing out that his friend Lou, also about to go to work for his father, had been offered $30,000. "So I said, maybe you ought to go work for Lou's dad," Joe Sr recalls.

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COVID-19 Will Permanently Change
The Way Every Generation Lives—
Here’s How

This worldwide pandemic has brought with it public health crises, global economic upheaval and widespread uncertainty.

Even though the acute threat of COVID-19 will pass, things will not return completely to normal. The virus and the economic tumult that accompanies it are transformative events and will likely change lifestyle and financial choices for every generation.

If we want to prepare for what our world will look like when things settle—weeks, months or even a year from now—it's worth considering how our perspectives will change from this, and how each generation might live their lives differently.

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What's Happening Now

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Tips for Teaching Your Children/Grandchildren About Money Here's What Gen Z & Millennials Plan to Spend Their Stimulus Money On ALDI Announces Plans to Reduce Plastic Packaging

Market Update

Markets rebound in April
Equity markets saw a swift recovery in April, as progress toward slowing the spread of the coronavirus gave hope to investors. The S&P 500 rose by 12.82 percent, marking the best monthly gain since 1987. The Dow Jones Industrial Average (DJIA) gained 11.22 percent for the month, while the Nasdaq Composite, with its heavy technology weighting, led the way with a 15.49 percent gain.
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States begin reopening as coronavirus growth slows
In April, we saw real progress in the fight against the coronavirus, although there is still much work to be done. Case counts continue to increase, but the pace of growth for new cases has been falling. We ended the month with the daily case growth rate in the U.S. at its lowest level since the end of February. This shows the positive impact widespread social distancing and shelter-in-place orders have had on containing the virus. We've also seen some promising results for potential treatments, which have boosted confidence.
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716 Mt. Airyshire Boulevard, Suite 200, Columbus, Ohio 43235
614.888.2121  •  877.389.2121  •  Request Appointment

Securities and advisory services offered through Commonwealth Financial Network®
member FINRA/SIPC, a registered investment adviser.