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Verisail Partners

20 second advisor

Financial insights and tips...all in 20 seconds

20 Second Advisor: Getting prepared for unemployment

Unemployment probably never crossed your mind until COVID-19 hit. If you or someone you know may be affect, here are a few practical steps you can take to make sure you are prepared: Cash is king. Make sure to prioritize beefing up your emergency cash savings. We recommend having 3-6 months worth of expenses set…

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20 Second Advisor: Roller Coaster Safety

Last week, Thad did a great job of illustrating why it’s in your best interest to stay invested during volatile times. We thought a word picture would also help! Have you ridden a roller coaster in a while? I bet you can still recite the safety instructions that are repeated over and over again as…

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20 Second Advisor: Perils of Timing the Market…Again.

Let’s be honest. We’re in a weird place. COVID-19 seems to be getting better, but we are not out of the woods yet. With your investments, we are in a similar spot. The S&P 500 dropped from 3386 to 2237 (34% loss) from mid February until late March. In less than 60 days, the S&P…

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20 Second Advisor: PPP and pursuing loan forgiveness

As the Paycheck Protection Program (PPP) enters the second round of funding, loan recipients should be considering a thoughtful approach to pursuing loan forgiveness. Although the loan forgiveness parameters are still being clarified, the key elements for forgiveness are discussed below. Have a plan for spending during the 8 week period. You will need to document…

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20 Second Advisor: Nuggets From Talking With Clients

As you can imagine, we have been having conversations with clients, colleagues, and friends in the midst of this COVID season. We thought it might be helpful to summarize some of the consistent topics we are addressing: It’s still a good time to refinance Keep contributing to your retirement plans if you can (only pause…

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20 Second Advisor: Get in line! More funds for small business during COVID-19.

One of the more popular programs of the recent CARES Act was the Paycheck Protection Program (PPP). Under the PPP, impacted businesses can apply for loans to cover payroll, rent, utilities, etc. If the proceeds are used to retain and pay employees, the loan can be forgiven. Up to 2.5 months (10 weeks) of payroll…

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20 Second Advisor: How to better yourself during quarantine

With COVID-19 almost affecting everyone’s day to day lives, it’s not easy staying focused or motivated. If you have been craving more productivity or purpose during quarantine, here are a few free ways to better yourself: Learn how to cook: Several “top” chefs have offered cooking classes free of charge. Check out Christopher Kimball’s Milk…

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20 Second Advisor: CARES Act Suspends Required IRA Distributions

If you are 72 or older, you are normally required to make distributions from your retirement accounts (401k, IRA, 403b, etc). The CARES act eliminated this requirement for 2020. This is good news for many retirees for 2 reasons: Avoiding the taxable distribution will reduce their taxable income in 2020 They can leave their tax…

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20 Second Advisor: Get Help From Coronavirus Stimulus Bill

We hope all of you are hanging in there as COVID-19 continues to spread and families/businesses hunker down for the month of April. Congress approved the Coronavirus Stimulus Package last week to help shore up the economy. Here are the details: Couples earning under $150,000 will get $2,400 cash payment ($1,200 if you’re single and…

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