Coronavirus Infects Stock Market: Part LIV
You read the news: “Coronavirus reaches 100,000 deaths,” streaming across all forms of media yesterday and yet, not a peep just a couple of years ago when the flu killed 80,000. It’s like the media is taking a victory lap, cheering the virus numbers higher.
- A group of restaurants and bars in Rhode Island want government money to stay closed, claiming it’s stressful being open.
- Imagine all the pushy parents wringing their hands because little Jonny can’t play travel sports this summer. Talk about an aggressive group. They along with the needy/greedy MLB and NBA will demand a reopening.
- Good luck getting a reservation at a restaurant in Newport.
- Now’s a good time to learn the powerful qualities of counterbalancing.
- Look at the risk free rate of no return.
- Roth IRAs. You gotta love the government requiring your kids to withdraw the money within 10-years putting a pothole right in front of your compound interest vehicle. Thanks, SECURE Act.
- IRAs? Might make sense to draw ‘em down when your income is lower than your kids thanks to the SECURE Act.
- The CARES Act gives you a mulligan on this year’s RMD. Big deal. Most investors plan for a lifetime, not for silly gimmes here and there from Uncle Sam.
- My coronavirus financial survival advice:
- Consider a JOB.
- Get out of debt.
- Get comfortable with the EF.
- A long-time reader in San Fran explains that he’s looking at a piece of property in rural Maine not far from where his son lives. I like it.
- Despite the draconian lockdown in Illinois, Chicago recorded its deadliest Memorial Day weekend in five years. Ten people were killed, and 42 injured in shootings across the city. So much for stay home, stay safe.
- In Florida, a reopened, Castle Doctrine state, a man in his 70s shot and killed an intruder who was beating the homeowner’s wife. The invader had smashed his way through the couple’s glass door before going on the attack. The husband’s quick thinking and preparation saved his wife, and possibly himself.
Read my entire series, Coronavirus Infects Stock Market here.
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E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at email@example.com To sign up for my free monthly Survive & Thrive letter, click here.
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