Richfield discussed on Kowal Investment Show

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Home with start with a fair commission plans and then choose a company that publicly supports business owners property rights and the constitution choose redefined realty all your home selling the the saw mill restaurant pub in Richfield open again for in house dining and with nicer weather finally arriving you can also choose to eat on their expansive covered deck just take the whole election from forty one turn west take the first right just after the railroad tracks the saw mill will be just around the bend on your left welcome to the retirement clinic with your host Jeff Cole wall from the coal wall investment group these retirement specialists except this morning Jeff is not in studio we are joined by Aaron Spitzer and Joe still from the qual investment group good morning guys good morning morning show what I say good morning again because you're you're off now good morning London clear guys great to have you in studio this is live so if we talk retirement related issues and you have a question that pops up we're gonna comment feel free to join us of course the second mortgage talk and text line I'll just throw it out there now any retirement question that you have financial planning your future your nest egg four one four seven nine nine eleven thirty the coal investment group of course does market updates on W. I. B. in Madison where we are also on the air this morning M. W. I. St Milwaukee twice today and you guys are big part of that Erin yes far as the the plants are about to have the the the market reports here yep three o'clock five o'clock you'll hear us live at three o'clock report giving update about what's happening in the market that day how it's affecting your retirement plan and then also again the five o'clock news block on which we give you again a recap of what how the markets finished out that day and again how it's affected your your individual situation yeah we're not going to dissect every thing that happened in the market this week show but boy the days of it doesn't seem like there's one day were the market the Dow finishes thirty points of thirty points down or up it's always seems to be seven hundred up then five hundred out then seven hundred up it's amazing the volatility is amazing right now right it's it's the uncertainty the uncertainty times you know we've we've never gone through anything like this is a country and the economic numbers are ugly right now they're actually not as bad as we originally anticipated that's why the market has come back pretty significantly from the bottom from the very what forty percent down yeah that that we get our own about forty at the bottom the S. and P. was down about thirty four percent fastest move into a bear market in history but then we came right back and you're you're most likely going to see the market you know in a trading range I laugh because Erin Erin gives me a hard time about saying a trading range what's on your easy out what but we're gonna like wing you're cautiously optimistic yeah we're going to bounce back and forth a little bit here based on the numbers that are coming out you know the the this pandemic is going throughout the country and different states are experiencing you know some increases summer coming down and so the market is going to move based on that information and as some of the some of the stats drive me nuts in awhile because that test numbers are way up there testing thousands right of course we're gonna see the cases play when I look at his hospitalizations and I'd hate to say it but death numbers right and you look at the rate and it's just not quite there guys I'm sorry yes the cases are up so the media grabs just says that all the time on the show if it bleeds it leads correct so that's what you're seeing right now and it it does frustrate me too you see the bad news all they're talking about is surging numbers and you're saying you're saying numbers go up in some states with among younger age groups of people that don't show a lot of symptoms that a symptomatic Hey don't don't even know the habit if it weren't for the test right so all of that is very insightful stuff I agree with you a hundred percent on that everybody has their own opinion we're not going to get into call of it but we kind of are and in fact Aaron Spitzer your first story has to do with rotavirus yeah I'm a covert expert no to go to court at the coal investment yeah actually you know when you're talking about the economic numbers before I get into the story it's got interesting as these numbers are all over the place when you look at the you know you're looking at consumer spending retail spending unemployment wages all of that it's it didn't even corporate guidance it's all over the place and what we're seeing more and more of is we're looking further into the numbers and these leading economic indicators trying to get a good idea I'm even traffic that's going through airports I mean they're looking at the TSA numbers to see if there is a a rising now people traveling again so the numbers are getting more and more granular trying to get a better idea on okay what what's actually a good number to look at here to see about economic activity cell phone tracking yeah look at that is the movement of your cell phone yeah in in a lot of these numbers are you know on the upswing in there is more activity which is all good signs but we just don't hear about it so but it is encouraging to see at least in my own personal life things opening things getting back to normal I went out to dinner last night in Cedarburg with my wife and it was just like always you hasn't I I think most people want that to happen I'm not sure of certain powers that be in the media wanted to happen politically driven this is an election year what always happens any election year weird stuff yes and so here we are right well anyways I'll give you guys my a quick update here you know this is did update that came out this week the articles from Barron's titled the iris expands corona virus related relief so back at the end of March we're all aware we had the carriers that come through which gave a lot of help out to businesses and individuals who were affected by cold in nineteen oh really for the most part a lot of people were were given the benefit when we got our our stimulus checks here but what we have here is just to updates one in regards to your required minimum distributions the article talks about the tax agency here is allowing more people who took a required minimum distribution from a defined contribution retirement plan or an IRA to roll the money back into the plan again so if you took a required minimum distribution the current raw rules are allowed you to roll that money back into your plan as long as that distribution was taken between may excuse me February first and may fifteenth so it left out a group of people that may have taken a distribution in January and then it only gave you the route the current role again only gave you until July fifteenth to put that money back into the plan now what they've done is they've expanded that rule gave you a little bit more leeway and on Tuesday the iris gave those who gave the rollover relief to non spouse inherited IRA owners and to those who took our M. dis at any time this year so even if you took your RMD in January he said Hey I don't really need this money I just thought I had to take it out because the government was making me they're not alone you to roll that money back into your plant in there giving you until August thirty first so there give you a little bit more time to to get that done now the other item that they've expanded on was some the rules around taking a corona virus related hardship withdrawal from your retirement accounts okay so in currently or in the past if we rewind let's say just into last year if you took money out of your planning your younger than the age of fifty nine and a half you pay tax and you pay ten percent penalty okay now with the carers act the government said you can take a distribution from your retirement account.

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