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The Year in Review and a Look Ahead

2020 was a wild rollercoaster ride, but here we are on the other side of it! So, what did we learn?

In the thick of things, as the Covid-19 pandemic swept the globe, we saw dramatic and devastating market declines and unemployment rose to levels we hadn’t seen since the Great Depression. During that time uncertainty ran rampant and fear spread too easily. Impressively however, the market rebounded faster than anyone could have predicted, and we ended 2020 with a more positive outlook.

Planning for the year ahead is complicated by four things:

  1. Presidential election and split government
  2. Recent legislation (SECURE Act, CARES Act, TCJA)
  3. Historically low interest rates
  4. Historically low tax rates that are subject to change  (sunset of TCJA in 2025)

In our webinar, originally presented on Tuesday, January 26 at 11am, we looked back more in depth to the factors that most influenced 2020 and how we can better plan in 2021. We addressed six key elements to making the most of the new beginning:

  1. Review Your Portfolio’s Asset Location and Asset Allocation
  2. Understand the Need for Tax Planning
  3. Retirement Planning
  4. Estate Planning Is Coming Back!
  5. General Planning – The Tried and True
  6. And Don’t Forget Distribution Planning and Roth IRAs

While 2020 saw a lot of big changes, most notably the election, remember it doesn’t dictate everything – while changes will occur your financial plan isn’t based on the idea that a Republican or Democrat will always be in the White House.  Elections should reinforce, not alter, strategic portfolio discipline. The market is driven more by fundamentals than politics and in this video, we get to the heart of these fundamentals.