SOME INTERESTING FACTS:
“According to FINRA (Financial Industry Regulatory Authority) 30 percent of employed Americans earned money from work outside of their main employment.” But here’s the surprise about that. “They found the wealthier and more educated people were more likely to have side jobs.” (Journal of Financial Planning, Jan. 2020)
And, how about this one. “The JP Morgan Chase Institute found that ‘liquidity’ is a more useful predictor of mortgage default than home equity.” And what do mortgage lenders focus on; equity down payment. “Allowing borrowers to maintain the money in their bank instead of using it for a down payment helped them pay their mortgages and keep their loans in good standing. (Duh!) Borrowers who had savings equivalent to less than one monthly payment… defaulted five times more frequently than those with three to four months of mortgage payments in savings.” (Journal of Financial Planning, Jan. 2020)
No wonder your financial planner bugs you so much about having an emergency fund.
Those COVID-19 stimulus checks could start showing up any day now. (Coronavirus Aid Relief and Economic Security, or CARES Act). If your joint income was under $198,00 (or $99,000 for a single), you could soon receive a payment of as much as $1,200 per person ($500 per child) in your family. For those with incomes over $150,000 ($75,000 single) the checks are reduced by $5 for every $100 your income exceeds the lower limit.
Checks are slated to begin mailing out (or direct deposited) by April 24, based on income level. The lowest income individuals receive their payments first, with the top income level being paid as late as Sept. 4th. (Rocky Mengle - Kiplinger, April 3rd, 2020)
A final note: Student loan debt has now exceeded $1.6 trillion in the U.S. Clearly we have a crisis. If you don’t have a use for that stimulus check, you might think about contributing it to a 529 College Savings Plan for your kids or grandkids who are wondering how they will finance a college education when their time comes. You can call me for more information on that.
The Utility of Sector Investing
Successful sector investing is dependent upon an accurate analysis about when to rotate in and out.
Perception vs. Reality
There’s an alarming difference between perception and reality for current and future retirees.
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