Good morning!
Hope you had a nice Christmas and were able to spend it with family and friends.
As we close the books on the year 2020 - and boy, what a year it's been - we look forward to 2021 and beyond. So let's take a moment or two and consider what's ahead...
Thanks, as always, for reading.
Who Saw All of THAT Coming?
Think back to a year ago, December 30th, 2019...
Who could've imagined a year like 2020 with a global pandemic, economic and social lockdowns, all the parents out there getting a taste of homeschooling, college life for students being turned upside down, and everything else we've all dealt with, individually and collectively.
There's probably a joke in there somewhere about "2020 vision" or something...
And on top of all these surprises in our lives, the total U.S. stock market is up (as I write this) over 15% this year.
Yes, THIS year.
Just goes to show you that you never know what's ahead, whether in our personal lives, our work lives, or our financial lives.
So, it's natural to wonder what's ahead in 2021?
More of the same?
Some unanticipated event that makes 2020 seem rather mundane by comparison?
Or maybe we'll get the opportunity to return to our "more normal" lives sometime in the next 12 months.
Regardless of what happens or when, I think 2020 is a good reminder about the benefits of ongoing financial planning where you regularly review your plan and adjust as necessary.
Because I'm sure no one's financial plan on this day a year ago included any of what we've experienced in the last 12 months or so.
If it's time to review and adjust your financial plan and you'd like some assistance, hit reply and let me know.
And no... I have no clue what's ahead with the investment market or anything else for that matter.
But, I'm ever the optimist 😉
What's Your Time Wealth? ⏰
I read this thought-provoking article recently and thought you might find it interesting as well:
Time Billionaire — pomp.substack.com This installment of The Pomp Letter is free for everyone. I send this email to our investors daily. If you would also like to receive it every morning, join the 93,000 other investors today. Graham Duncan, the co-founder of East Rock Capital, appeared on the Tim Ferris podcast in March 2019.
Here's a real head scratcher from the article:
If you had the opportunity to switch places with Warren Buffett, would you do it? You could be one of the richest people in the world. But you would also have to be 90 years old.
Combine the thoughts in the article above with this definition of wealth: TIME to do what you want, when you want, with whom you want.
Food for thought...
Not a Dead Language ☠️
I recently wrote a new article on my blog about different types of beneficiary designations you can make on your IRA, Roth IRA, 401k and other retirement accounts.
While it references just a bit of Latin, I've hopefully made it simple and straightforward.
Give it a read and let me know if you have any questions:
Per Stirpes vs Per Capita Retirement Beneficiaries — wealthcareforwomen.com
Setting up a retirement account beneficiary is an essential part of financial planning. It may be hard to think about a future where you are not in it, but we cannot predict the future – this is why it’s best to be prepared. This guide will help you understand retirement account beneficiary planning and the […]
The post Per Stirpes vs Per Capita Retirement Beneficiaries appeared first on Wealthcare for Women.
Happy New Year 🎉🧨🥂
The next time you read this letter we'll have crossed the threshold and entered a brand-spankin' New Year!
I want to offer my sincerest wishes that 2021 will be a great year for you and those you hold dear.
And whether or not you're into New Year's resolutions, I resolve to keep showing up in your inbox every Wednesday morning with this email letter.
So, if you have any questions, comments, or requests for future topics or any other ideas or suggestions, I'd welcome them all. Just hit reply and let me know what's on your mind.
Until next Wednesday,
Russ
P.S. - For your indie track of the week, I'd like to share "To The Sky" by Maps. 🎵