Broker Check

Mosaic Weekly Article 12/04/2020

December 07, 2020

Welcome to December! We are finally in the home stretch of what has been a memorable 2020. At this point, I think we can all use a little holiday cheer. I for one have been happy to get into the “spirit” of things and from the looks of my neighbors houses recently, I am not alone in this quest.

November returned the highest monthly market returns since 1987, very impressive indeed. Most of these gains were driven by strong corporate earnings and the positive vaccine headlines. While we are certainly not out of the woods just yet, the promise of better days ahead, appear to be more of a reality now than ever. We also have a Congress that is back in session and negotiating again on another round of stimulus. It seems that both sides are more motivated to get some type of a deal done now rather than waiting as has been expected. We shall see if cooler heads can prevail.

As we move closer to year-end, I wanted to provide a few things for you to think about as it relates to your personal planning.

  1. For those receiving RMD’s (Required Minimum Distributions) they will resume in 2021. Are there any changes in the way you would like to receive these?
  2. Are you maximizing your IRA, 401K or 403B contributions for 2020?
  3. Many individuals and families are in need this year. Have you considered making a charitable donation or taken advantage of making tax-free gifts of up to $15,000 to any loved ones?
  4. When was the last time you reviewed your beneficiaries?
  5. Have your short or long-term goals changed in any significant way?
  6. Is your emergency fund still adequate?

We have all endured a lot during this past year. Taking stock, literally, of where we have been and where we are going is an important exercise. Hug those close to you, call an old friend, or simply reaching out to a loved one can make a huge difference in someone’s day. It really is the little things in life that can make a difference.

Stay healthy and safe!

Your local Towson Financial Advisors