Prior to the current pandemic, cash payments were becoming less pervasive in our society. Payments for merchandise, bills and services were increasingly being handled electronically, and payment systems were becoming more digitized. Today people are concerned about the safety of touching certain items and surfaces, making electronic payments a desirable way to affect transactions. Is cash really on the way out? Now that you can scan a payment from your smartphone or conduct your business all online, maybe cash is not necessary.
Weekly Focus
MARKET UPDATE FROM JOHN C. NEYLAND
This week John discusses what is to come with the stock market, including an ultimate good outcome, but some bumps in the road along the way. Volatility must be expected right now, and John reminds us that the stocks in which your money is invested do not have an unlimited downside. JCN has stop gap measures in place for times when a stock shows a downward trend. In other words, if a stock goes too low, JCN moves away from it. In this video John explains what types of stocks JCN is buying and why. There are documented advantages in buying undervalued stocks, John says, and in the two decades JCN Financial has been in business, this strategy has earned investors record profits. Also, John also walks you through his philosophy that the stock market and a tomato garden have a lot of similarities. By the way, have you signed up for BLT Fridays yet? Come on! Give us a call. Watch this week’s video:
One of the unfortunate results of the pandemic is that many American workers will not have the option of returning to their jobs. A number of industries will not be able to hire back a significant number of their employees. The good news is that the unemployment rate is slowly falling, but unfortunately more people are losing their jobs permanently. Industries such as travel, hospitality, restaurants and casinos continue to announce layoffs. For some people this is a time they will either have to or choose to change careers. But how can you change careers in the middle of a pandemic?
If you are getting tired of staying home, you are not alone. Many people thought by now we would be out and about more than we are. Governor John Bel Edwards announced that Louisiana will extend Phase 2 of the re-opening at least two weeks longer than expected. People over 65 and those with underlying health conditions are advised to stay home as much as possible. What do people miss most? Probably connecting with other people. With that in mind, here are a few easy ways to stay connected with others while at home.
Cities across the country are incrementally opening up, businesses are welcoming patrons and some people are going back to work. But what about traveling? Is it safe to fly, stay in a hotel, rent an AirBnB property? We are entering what are traditionally the heaviest travel months of the year, but experts urge caution and careful planning before venturing out for a vacation.
As the national unemployment rate continues in record numbers, many American workers wonder if and when they will go back to work. Among them are older workers, many of whom report they are considering early retirement, rather than accept their perceived health risks in the workplace. But is this the right time to retire? What are the advantages and downsides of considering early retirement? The Neyland Report takes a look at the consideration of this major life change.
Most of us rely pretty heavily on our smartphones, and especially those handy apps. The good news is that more and more apps are being developed that are perfect for seniors. Here are seven of our favorites:
A substantial portion of the American population is still working from home after four full months. Interestingly, many people find that they like the idea, and a number of U.S. companies have decided that many of their employees will continue to work from their homes for the foreseeable future. Several weeks ago, for example, Twitter CEO Jack Dorsey announced that a huge percentage of his employees can work from home permanently. Other companies, including Facebook, made similar announcements. Is working from home the future of American industry?
The country is several weeks into the implementation of The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the $2 trillion legislation designed to fast track direct economic assistance for American workers and families, small businesses, and preserves jobs for American industries. The CARES Act, signed into law on March 27, has strong implications for those with retirement savings plans.
Financial News
Regular readers of the Neyland Report know that we always encourage you to empower yourself by taking charge of your personal finances. We often introduce you to new products that may be of some value to you in your efforts to control your spending, saving and daily financial decisions. This month Microsoft introduced “Money” in Excel.
Fitness News
It may not come as news to you that prolonged sitting can have adverse health effects. But now while so many of us are still staying home most of the time, many of us are doing a lot of sitting. Do some gardening, take a walk or better yet, have a regular workout routine, say health professionals. But exactly what are the health implications of too much sitting?
Giving Back
When giving to charitable organizations, some people elect to support through cash donations. Others, however, understand that supporting an organization may generate tax benefits. They may opt to follow techniques that can maximize both the gift and the potential tax benefit. Here’s a quick review of a few charitable choices:
Each week our Strength Science Studios manager and personal trainer Dawn Braud offers new exercises you can do at home. We don’t want you to become a couch potato, so Dawn is bringing you the next best thing — exercises you can do on your couch! This week Dawn focuses on the glutes and abdomen. We would love to hear from you in the comments section under the video. Let us know if there are particular parts of the body you need exercises for, or any general comments you may have about Dawn’s exercise at home program. Meanwhile…get on the couch! Watch:
John’s Corner
JCN HONORED
JCN FINANCIAL NAMED TO TOP ADVISERS LIST
JCN Financial and Tax Advisory Group has been named one of the Best Financial Advisers in Baton Rouge for 2019. This honor is bestowed upon us by Expertise, the organization that uses proprietary research to find the best service providers across the country. We thank Expertise for this honor. If you are a current client of JCN, or a potential client, we encourage you to meet with one of our advisers whenever you are ready to discuss your finances. Let us offer you our expertise. Call 877-755-0488 for an appointment.
HERE’S WHEN YOU WILL GET YOUR STIMULUS CHECK
In case you are growing impatient waiting for your promised stimulus check, the U.S. government has issued distribution dates.
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TAX DAY DELAYED FOR 90 DAYS
Treasury Secretary Steven Mnuchin announced that tax day will be delayed from April 15 to July 15. You can still file early if you expect a refund and you will receive the funds as soon as your return is processed.
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WHAT THE FED’S INTEREST RATE CUT MEANS FOR YOU
In an emergency move, the Fed has cut interest rates to zero. Here is what that means for you.
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HOW TO GET YOUR STIMULUS CHECK
As Congress pushes through a $2 trillion stimulus bill, some Americans can expect checks from the government to help them cope with the economic devastation stemming from the coronavirus crisis. Those payments are expected to be $1,200 for individuals, or $2,400 for those who are married and file income taxes jointly. It also includes $500 per child. Here are the required qualifications.
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BATON ROUGE RANKS HIGH IN SAFETY REPORT
The National Council for Home Safety and Security (NCHSS) released a nation-wide ranking of the safest cities, putting Baton Rouge in the top 25 for Louisiana.
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HOW TO TRANSFER HEIRLOOM REAL ESTATE
The inclination of most people is to leave the real estate in their wills to their children jointly, much as they do with the rest of their estate. That’s usually not a good move for heirloom real estate for a variety of reasons.
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10 Retirement Stats Every Baby Boomer Should Know
Did you know that 41 percent of Baby Boomers have no money saved for retirement? More than 25 million seniors live at or below the poverty lines. Some of the stats for U.S. seniors care alarming.
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AMAZON CENTER COMES TO BATON ROUGE
A site plan for the South Baton Rouge AMAZON Distribution Center received unanimous support from the East Baton Rouge Planning Commission. The plan calls for a 111,918 square foot distribution center off I-10 behind the Bethany Church crosses.
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WHY YOUR IRS REFUND MAY BE DELAYED
Did it take way too long for the IRS to issue your tax refund last year? It turns out it is not your fault – new filters and screenings the agency uses may cause certain refunds to be held up for months.
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WHY YOUR CREDIT SCORE MATTERS
Do you keep track of your credit score? If not, there are good reasons you should. Here is some good advice, and information on a new method that will be used to calculate your score, starting this coming summer.
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MEDICARE CHANGES FOR 2020
There are more than 850,000 Medicare recipients in Louisiana, and if you happen to be one of them, you need to know about the changes coming in 2020.
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HIGHER 2020 401K CONTRIBUTION LIMITS
How much can you save for retirement in 2020? The Treasury Department has announced inflation-adjusted figures for retirement account savings for 2020: 401(k) contribution limits are up; traditional IRA contribution limits stay the same; almost all the other numbers are up.
Save more – earn more
HOW STOCKS PERFORM IN ELECTION YEARS
Election Day is a year away, and stocks are poised to keep rising over the next 12 months with an incumbent in office – that is, if history is any indication. Since 1952, the Dow Jones Industrial Average has climbed 10.1% on average during election years when a sitting president has run for reelection, according to the Stock Trader’s Almanac.
Bull market continues
Retiring Abroad
More Americans than ever are choosing to retire out of the U.S. The number of retirees who draw Social Security outside the U.S. jumped 40%, to more than 413,000, between 2007 to 2017, according to the Social Security Administration.
Why are retirees fleeing the U.S.?
Baby Boomers Real Estate Trends
There has also been a 31% increase in the number of older owner households. But renting seems to be trending more than buying in the last years, especially for the growing elder age group which is making its presence known in the real estate market.
The 60 and older generation is taking over the real estate market
Baton Rouge Named on Top Retirement Cities List
It comes as no surprise that Baton Rouge has been named one of the top 20 cities in the U.S. for retirees. As senior populations continue to grow, every part of the country will become more senior-dominated, but some more than others. Now the rest of the country is finding out what we already knew – Baton Rouge rocks!
Retirees Thrive in Baton Rouge
What You May Not Know About Social Security
Social Security benefits are based upon how much was earned during your working career. Choosing when to receive these benefits is one of the most important financial decisions you will make. If you choose to retire when you reach your full retirement age, you will receive your maximum benefit amount.
All About Your Benefits
