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Enjoying The Journey - April 2020

Enjoying The Journey - April 2020

Welcome to the April 2020 edition of the Enjoying The Journey Newsletter. 

In this edition of our newsletter you will learn about:

  • Stock Market Update
  • How to Stay Safe from the Coronavirus
  • IRS Rules Changes Due to the Coronavirus
  • The CARES Act Passes into Law
  • Completing the US Census
  • New Events Calendar

If there is anything we can do to help you, please call at 408-963-2858, or your advisor Elaine, Scott or Linda, or anyone on the Financial Journey team directly. 

Financial Journey Partners is Here to Help You

Financial Journey Partners is Here to Help You

Just a reminder that our office is open since our business falls under the exemptions to be able to remain open.

Scott is in the office each day to ensure that we process the mail, checks and forms so that everything is done in a timely manner.

The rest of the team are all working remotely from home with their work phone numbers rolling over to their cell phones, and we all meet daily for virtual staff meetings.

Give us a call if you need any help.

Stock Market Update

Stock Market Update

The US stock market reached all-time highs in late 2019 and again in early 2020. By mid-February, things changed dramatically as the Coronavirus spread rapidly through China, then the US and the rest of the world.

The US stock market fell as the virus spread in the US and eventually states began implementing shelter-in-place orders. As of April 15, all but five states have complete stay-at-home orders and three with partial restrictions.

We expect continued volatility as the US takes action to slow the spread of the virus and then at some point begin to start reopening businesses. 

California Governor Newsom announced what he called his "roadmap to recovery" criteria as the state focuses on the health of citizens as a first priority, while setting a path to reopen businesses. 

While we think the curve is flattening for the virus, it is possible the problems with businesses may be just beginning. The longer the shelter-in-place continues, the more stress it puts on businesses, possibly causing business closures and loss of jobs. As we go into earnings season during the next month, we could see some renewed weakness in the stock market. 

We are taking a balanced approach with client accounts, not too cautious, not too much risk. We are keeping an eye on the market closely every day. We will all get through this together and we are working hard to help everyone navigate these unprecedented times.

For more information on the US stock market,  you can find our monthly commentary on the stock market on our website  If you would like to get this commentary emailed to you monthly, contact Arielle or your advisor and we will add you to the distribution list.

How to Stay Safe from the Coronavirus

How to Stay Safe from the Coronavirus

Slowing the spread of the Coronavirus is now a top priority for all countries around the world. Social distancing (staying at least 6 feet away from other people) is one of the best ways to slow the spread of the virus.

Most states have issued shelter-in-place orders for all non-essential people to stay at home through the month of April.

The White House, Center for Disease Control (CDC) and FEMA created recommendations on how to prepare and protect yourself and what to do if you think you are sick. Please follow the CDC website to stay informed.

IRS Changes Rules Due to the Coronavirus

IRS Changes Rules Due to the Coronavirus

Tax Day, the date when taxes are due to be filed for tax year 2019 has been extended from April 15 until July 15, 2020.

Required Minimum Distributions (RMDs) have also been waived for 2020, meaning you do not need to take your RMD for 2020.

The CARES Act Passes into Law

On March 27, 2020, President Trump signed into law the Coronavirus Relief bill with $2 trillion of emergency economic funding that includes assistance for individuals and businesses. The estimated breakdown of the bill is as follows1:

Individuals:  $560 billion

  • Individuals without children, making less than $75,000 can get a full payment of $1,200, or an adjusted payment, based on maximum AGI of $99,0002.
  • Couples without children, who filed jointly and made less than $150,000 can get full payment of $2,400, or an adjusted payment, based on maximum AGI of $198,000.
  • Couples with children, who filed jointly, and made less than $218,000, are eligible to receive a stimulus benefit.
  • An individual who files as Head of Household and earned $112,500 or less gets $1,200.
  • If AGI is within the stimulus cap, for every child in the household, there is an additional payment of $500.
  • Unemployment benefits are extended to four months and $600 per week of additional unemployment benefits from the Federal Government, in addition to whatever a person receives from the state3.
  • Independent contractors are now eligible for a new, temporary Pandemic Unemployment Assistance program through the end of this year.
  • Benefits are based on AGI for 2019 taxes if filed, otherwise 2018 tax filing.

As of April 15, Economic Impact Payments have begun arriving for those with direct deposit history. Be sure to follow for updates and methods to check on your eligibility and payment status.

>> Learn More About the Economic Impact Payments

Big Corporations:  $500 billion

The bill also includes a $500 billion fund to help companies, such as the struggling airlines. This fund will be overseen by Treasury Secretary Steve Mnuchin. The final draft of the bill includes a congressional oversight committee and Inspector General as added control measures.

Small Businesses:  $377 billion

The bill includes emergency grants and a forgivable loan program for companies with 500 or fewer employees. You can get more information about this at the Small Business Administration (SBA) Conoravirus Relief Options website.

State & Local Governments:  $339.8 billion
Public Health:  $153.5 billion
Education and Other:  $43.7 billion
Safety Net:  $26 billion



1 NPR – What's Inside The Senate's $2 Trillion Coronavirus Aid Package 
Yahoo Finance - Will you get a ‘coronavirus check’? $2 trillion stimulus package explained

3 NBC Universal News – Coronavirus checks, direct deposits are coming. Here's everything you need to know.

We Cut the Cord.  Should You?

We Cut the Cord.  Should You?

Elaine and Scott noticed they were spending a lot on their live TV and movie streaming services, so they did a thorough review and decided to “cut the cord” and are no longer subscribing to a satellite or cable system.

Learn more about what they chose for their services to see if it might be time for you to give this a try and possibly same some money.

Completing the Census

Completing the Census

You should have received a letter in the mail to complete the US Census. It is very important that one person per household completes the Census.

It is completed once per decade and determines the number of representatives in the US House of Representatives by state. It also determines the funding for schools, transportation and many other things. Each person counts approximately $2,000/year of federal funding that comes to the State of California.

You can complete the census by mail, telephone or online. Make sure you are counted.

2020 Calendar of Events

2020 Calendar of Events

See our Current 2020 Event Schedule and Save the Dates:

- 6/17/2020, 1 pm      The Economic Impact of the Coronavirus

- 7/28/2020, Noon     Megatrends For The Future

- 9/16/2020, 4 pm      Six Estate Planning Pitfalls to Avoid

- 10/8/2020, 1 pm      Understanding the Ballot Measures

- 12/6/2020, 5 pm      Client Appreciation Party

Contact Arielle to RSVP and share your interests with Elaine, Scott and Linda!

Our Team

We wanted to remind everyone of the responsibilities of each of our team members, and who you can call if you have questions. Call any of us directly whenever you have a question.

Elaine Manley, Financial Advisor:  408-963-2854
Scott Manley, Financial Advisor:  408-963-2855
Linda Tjiputra, Financial Advisor:  408-963-2896
Ingalill Skoogh, Client Services:  408-963-2858 (Scheduling appointments, helping with any service issues)
Arielle Rowe, Marketing Events Manager:  408-963-2889 (RSVP and any questions about events, creating account forms)
Jennifer Michaelsen, Financial Planning Analyst:  408-963-2884 (Financial planning, supporting the Client Portals and insurance analysis)
Flavio Pando, Jr, Investment Analyst:  408-963-2877 (Placing trades, researching investments, answering questions about the market)
Lynne Houghton, Social Media & Marketing:  408-963-0242, Working Fridays only

Contact Our Team