Get Ready: Your Survival Guy’s Guide to the Second Wave

May 28, 2020

By Khairil Azhar Junos @ Shutterstock.com

Coronavirus Infects Stock Market: Part LIV

You read the news: “Coronavirus reaches 100,000 deaths,” streaming across all forms of media yesterday and yet, not a peep just a couple of years ago when the flu killed 80,000. It’s like the media is taking a victory lap, cheering the virus numbers higher.

A group of restaurants and bars in Rhode Island want government money to stay closed, claiming it’s stressful being open.
Imagine all the pushy parents wringing their hands because little Jonny can’t play travel sports this summer. Talk about an aggressive group. They along with the needy/greedy MLB and NBA will demand a reopening.
Good luck getting a reservation at a restaurant in Newport.
Now’s a good time to learn the powerful qualities of counterbalancing.
Look at the risk free rate of no return.
Roth IRAs. You gotta love the government requiring your kids to withdraw the money within 10-years putting a pothole right in front of your compound interest vehicle. Thanks, SECURE Act.
IRAs? Might make sense to draw ‘em down when your income is lower than your kids thanks to the SECURE Act.
The CARES Act gives you a mulligan on this year’s RMD. Big deal. Most investors plan for a lifetime, not for silly gimmes here and there from Uncle Sam.
My coronavirus financial survival advice:
- Consider a JOB.
- Get out of debt.
Get comfortable with the EF.
A long-time reader in San Fran explains that he’s looking at a piece of property in rural Maine not far from where his son lives. I like it.
Despite the draconian lockdown in Illinois, Chicago recorded its deadliest Memorial Day weekend in five years. Ten people were killed, and 42 injured in shootings across the city. So much for stay home, stay safe.
In Florida, a reopened, Castle Doctrine state, a man in his 70s shot and killed an intruder who was beating the homeowner’s wife. The invader had smashed his way through the couple’s glass door before going on the attack. The husband’s quick thinking and preparation saved his wife, and possibly himself.