I hope that you had a nice Easter weekend. From the conversations that I have had with many of you, this was a tough one since we couldn’t actually attend church (Sunrise Service or otherwise) and also were separated from our families. We hope that you are keeping your spirits up – this too will pass. Please view our most recent video update:
A couple of quick updates:
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was recently passed, has suspended all Required Minimum Distributions (RMDs) for 2020. What this means is that you are NOT REQUIRED to take a distribution this year. This includes IRAs and Inherited IRAs, as well as 401(k)s and 403(b)s. Feel free to call me if you want further clarification on your specific situation.
Although the stock market has continued to remain volatile, the good news is that it has rebounded somewhat from where it was a few weeks ago. Currently the S&P 500 is up approximately 25% from where it was on March 23rd. As usual, I recommend staying the course with our long-term strategy of a strong, resilient, well-allocated portfolio.
We are excited to let you know that construction has finally started on our new office space. The crew has completed the frame out phase so we can actually get a better feel for the layout of the conference room, lobby, and offices. However, with the current restrictions, our move in date will probably be pushed back to late May / early June at the soonest.
We continue to pray for the health, safety and peace of you and your families as well as families all over the world. We love having you as a client and please DO NOT HESITATE to call if you need anything. God bless you and God bless America.