Uncharted Waters

There were 2,839,205 deaths recorded in the United States in 2018. This pandemic is expected to kill between 100,000 to 200,000 Americans. These figures are noted to give perspective to our current dilemma. If these numbers hold, Covid-19 will add less than 10% to total mortalities in the U.S. this year. The economic losses from this virus are huge and unknown. We are in a government mandated recession which will likely end when the virus subsides and we are permitted to try to return to our normal lives. 
Trillions of dollars are being thrown at the problem. Millions of jobs have been lost in the short-run. Many businesses will fail. Our lives have been altered, probably permanently, and our behaviors will undoubtedly change. Many of these changes will be positive.

Our job as your financial advisor remains the same, to protect your capital and get you a fair rate of return on assets. We prepare, as best we can, for challenges as well as opportunities. We are in uncharted waters with this once in a lifetime, world-wide pandemic. We have seen you through 9/11, the financial collapse of 2008, the dot com crash, the one day 22% drop in 1987 (Black Monday), and countless other “unprecedented“ events. Please trust that we will get through this together.

If you need anything, please give us a call and we will do everything that we can. If you need cash, there is plenty available in your accounts. This is one advantage of not being stuck in an investment product. Keep us in the loop, but know that your funds are available to you. 

We have been sending email blasts to our mailing list. If you have not been receiving them, let us know. They may be getting caught in your spam folder or we may be sending them to an old email address. We will continue to keep you informed.

The government passed the CARES Act last month to help us through the pandemic. Most households will be receiving a check for $1,200 per adult. The income tax filing deadline has been pushed out to July 15th. If you haven’t completed your taxes, you have additional time. Lastly, the CARES Act waived Required Minimum Distributions (RMDs) for 2020. If you would like to stop your RMD for 2020, please let us know so that we can cancel your distribution for this year.

There will be a future. While it seems like the last few weeks have altered our lives forever, this pandemic will pass. The best and brightest minds in the world are working on a cure/vaccine. It is only a matter of time until things start to look up. Until then, enjoy this time with your loved ones. Phone calls, video chat, etc. help us all to stay in touch during these difficult times.

As always, we are here for you. If you need anything, do not hesitate to contact us.

Yours truly,

Michael Cantlon
Thomas Guyett
Robert Gephart