Since February 24^th, the war in Ukraine has shown us how violent Putin and Russia can really be to their neighbor. This violence has had an impact on the citizens of Ukraine as well as most western countries. From an investment perspective the war has added more uncertainty, as the price of oil and other commodities have gone up, inflation has risen further, and worker shortages and supply chain issues weigh heavily on markets.

We are living in a trying time for us and for the world. When the pandemic began in 2020 it took a great deal away form each of us. Since that time people we know became ill, loved ones passed away and our sense of freedom and purpose was shaken. In the United States, there was action by the Federal Reserve and Federal Government to mitigate the toll of the pandemic on the finances of our citizens.

September, historically, is the worst month of the year for the stock market. It appears the fundamental reason is that earnings reports for the first and second quarters don’t really tell the full story of how corporations are doing for the year. The third-quarter earnings are really important since they give strong guidance on how corporations will do for the calendar year. Most significant reporting doesn’t begin until the third week in October. The anticipation of what these reports might look like gets the markets a little spooked in September.

A Few Reminders

The Tax Filing Deadline has been moved to May 17, 2021 for the filing year 2020.

Contributions for IRAs, Roth IRAs or other retirement plans need to be placed before May 17^th to count for prior year contributions.

An increase in questions and concerns with the upcoming election inspired me to look in the archives for a blog I wrote about four years.  Much of this still applies today.

As we are all experiencing a surreal time in our lives, positive measures are being taken to help the situation.  Last week, the largest economic stimulus package in American history – the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was passed.  CARES Act is designed to help individual taxpayers, business owners and the entire economy try to revive itself from the downturn caused by the COVID-19 pandemic and the closures, layoffs and economic stress that has followed.

Here are some of the highlights as we understand them:

I have no more idea where coronavirus and its total impact is going than anyone else. As a pandemic this is unprecedented for the world and the U.S. With global and national travel so fluid today, diseases can spread very rapidly.

It is clear to all of us that the coronavirus is impacting every area of our lives. Schools are closed, gathering of 50 or more people are being eliminated, more people are working from home and we are all being told to keep our distance from other people. Here at Secure Planning, we’ve made the decision to not have any appointments in the office but rather to do them by phone, for the time being. This is in both our clients and employee’s best interest.

It became very clear this week that Coronavirus was having a major impact worldwide.  The spread of the virus caused many countries to quarantine large groups of their population. The biggest impact has been in China, where millions of people have been quarantined. With fewer workers available and transportation greatly reduced, the economy of China and other Asian countries has taken a serious reduction. Since much of the Asian shipping is handled either directly or indirectly by China, the slow down in China has resulted in a disruption of the worldwide supply chain.