Enjoying The Journey - January 2020
Stock Market Update
After the significant drop in Q4 2018, the US Stock Market rebounded strongly in the early part of 2019. Volatility increased during May through September as the daily news made a trade deal with China looked more and less likely. The rally continued in the final quarter of 2019 to finish the year strong, reaching all-time highs for the major average for the US Stock Market.
You can find out more about our view on this by reading our blog titled “Why is the Stock Market Going Up at the End of 2019?”
READ BLOG
We see some of the issues of 2019 carrying over into 2020. Those include continuing uncertainty about the details of a trade deal with China, the ongoing Impeachment Process of President Trump and the 2020 Presidential Election. Yet, if these things get resolved in a positive way in 2020, with an accommodating Federal Reserve, we see the potential for 2020 to be a positive year in the markets. So we have designed client portfolios to be balanced and diversified to be ready to capitalize if positive events happen during the year.
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.
2020 Upcoming Events - Save the Dates and RSVP
See our Current 2020 Event Schedule and Save the Dates:
OPEN EVENTS - RSVP with Arielle Today - Come Early for Lunch!
- 1/30/2020, 1 pm Mastering the Client Portal Seminar
- 2/06/2020, 1 pm 2020 Voter Experience and Census Seminar
- 2/11/2020, 1 pm Social Security Seminar
PLANNED EVENTS - Save the Dates
- 5/13/2020, 6 pm Estate Planning Seminar
- 6/17/2020, 1 pm Economic Update: Boom or Recession?
- 9/16/2020, 1 pm Long Term Care and Medicare Seminar
Contact Arielle to RSVP and share your interests with Elaine, Scott and Linda!
We asked our clients what topics they would like to learn more about. The most popular topics were Estate Planning, Social Security, Long-Term Care and Medicare and how to use the client portal. We will be sending monthly emails on these topics to the people that wanted to learn more about these topics. We will also have educational seminars on these topics in 2020. See our calendar of events. We have also added some fun events for next year based on your feedback.
When we asked our clients why you continue to work with us as your advisor, the most common response was that clients trust us. We are humbled and honored with that answer. We greatly appreciate that and will continue to work hard every day to keep that trust.
If you have family, friends or co-workers that are looking to work with an advisor they can trust, please talk with your advisor Elaine, Scott or Linda, to see if we might be able to help them.
Mastering the Client Portal Seminar
The client survey listed learning more about the client portal as a top area for additional education. So we will have a seminar in January to help clients learn how to master the client portal. All skill levels are welcome.
Date: Wednesday, January 30, 2020
Time: Seminar at 1:00 pm. and Lunch at Noon
Location: Financial Journey Partners Office
Please RSVP to Arielle at arielle@financialjourney.com or call her at 408-963-2889.
View our Mastering the Client Portal Seminar Flyer
For those attending, it is important that you are able to log into the site prior to the day of the seminar. If you are unable to log into the site and need help, call Jennifer at 408-963-2884 and she will help you log into the site.
Retirement Plan Rules and Limit Changes
The maximum contributions increased in 2020 for several types of retirement plans. Important changes include:
- 401(k) and 403(b) plans maximum contribution increase from $19,000 to $19,500.
- The additional amount people 50 and over can contribute to their 401(k)s and 403(b)s increases from $6,000 to $6,500.
There are also a few changes to the income limits to determine who can add to their IRAs and Roth. See the chart below for more details.
Download our Retirement Plan Contribution Chart and contact your advisor to discuss.
SECURE Act Passes Into Law
On December 20, 2019, the SECURE Act was passed into law. This new law includes a number of changes to individual and company retirement plans. Some of the key changes include:
- People can continue adding money to their retirement accounts past age 70 ½ based on earned income.
- Required Minimum Distributions from IRAs will be increased from age 70 ½ to age 72.
- New Beneficiary IRA account owners can no longer stretch distributions out across their lifetime. Going forward, they will have to take all the money out within 10 years.
- If your trust is listed as a beneficiary, please contact your advisor as soon as possible.
eMoney Tip: Establish your Monthly Budget Quickly
If you haven't already set up a budget in your portal, now is the time to do it!
Simply base your budget on your spending history and use the "Auto-Budget" utility. Don't have a lot of history established? No worries, start with what you have and make simple adjustments.
Give Jennifer a call at 408-963-2884 and she can help you through it.
Join our eMoney tip of the month email distribution list. Simply let anyone on our team know and we'll take it from there!
2020 Voter Experience & Census Seminar
Join Financial Journey Partners for this forum with the League of Women Voters to review changes in the voting experience for Santa Clara County and how to make sure you are counted in the 2020 Census. See our 2020 Voter Experience and Census Flyer. Join us on Thursday, February 6, 1 pm for our Lunch & Learn Seminar.
Social Security Seminar
Join Elaine, Scott and Linda for this exclusive Social Security Seminar with special Guest Speaker, Jennifer Taboada, Vice President at BlackRock. We will cover common Social Security questions on Tuesday, February 11. See our event flyer and plan to join us for lunch at Noon and Seminar at 1 pm.