Five Fact Friday – August 28, 2020

This week’s links:

Reading –
Watching –
Tech –
Legal –
Retirement –

Podcast Episode related to this week’s FFF:

Make It Last – Ep 68 – How Should You Plan for an Unpredictable Market?



Hey everybody, welcome back to Five Fact Friday. I’m your host Victor Medina, this is the video newsletter hosted by Medina Law Group and Palante Wealth Advisors, your one stop shop for legal and financial retirement planning. As you can see, we’ve upgraded our camera equipment, this soft focus that you see behind us, that’s what the kid’s call boca and I guess it’s really really cool cus we invested in the hardware to make it work. I’ve got five links for you this week but before I jump into them I wanted to highlight two things that happened That I think er well one of em kinda proud of and the other is an opportunity for you to learn a little bit more.

The one that I’m proud of is I was recently interviewed by the Wall Street Journal on an article about how Covid is affecting peoples retirement. Now I encountered the author because some of you know that I used to host a radio show and on one of the episodes of the radio show I titled it how to retire on a shoe string. Well all of those radio episodes are in fact saved. You You can go back and listen to 122 of them if you want. And this author picked up that one on a search and the contacted me and we had a great conversation about how Covid is impacting peoples retirement planning. Well the article came out this week, some great stories about people that are frankly struggling and some people that are persevering. And I actually had an opportunity to give some specific advice about how to manage that. So if you’d like some more information we’ll include a link to the Wall Street Journal but unfortunately I think you need to have a subscription for their online in order to read it. Otherwise we’re gonna give you what the content was so that you can read the information in those recommendations as well.

Now that’s what I was proud of, let me tell you what you have an opportunity to learn more, some of you who have been paying attention to these video news letters uh know that we’re gonna host a seminar in fact we were scheduled to host it last week but we were afraid that it was gonna rain on out heads . Turned out it didn’t rain but we moved them anyway, which gives you an opportunity to attend if you weren’t registered already. Now the topic that we’re gonna be going over is all the legal and financial planning that you need to do to make sure that you can retire in a recession and what that means. We might be set for a second wave, we don’t know. But the more important thing is do you have a plan to manage that if it happens. We’re gonna be highlighting our make it last retirement checkup plan, which is our new way of having a conversation with everybody that comes to our doors to make sure that we have covered all the bases and we know what they need in order to retire. Doesn’t matter if they want a legal plan or a financial plan or if they’re coming to us for a will or they just want an annuity or whatever it is they’re looking for. We produce these plans for absolutely everyone who becomes a client because we think it’s important to make sure that we look at everything that’s going on to make sure that they have a plan that works when they need it. It’s Just the way that we do things. Anyway, if you’re interested in attending the seminar we’re hosting them on Tuesday and Wednesday of this coming week. September 1st and September 2nd. They’re gonna be hosted at 5 o’clock. We’re gonna be underneath a tent, We’ve got some individually packed food, we’re gonna be socially distant so only one or two people per table and those tables are all gonna be spread out. Now I think one of those actually might be subscribed fully and the other one might have some more room, so if you’re interested in learning more or if you have a friend who might be interested in learning more and actually have the opportunity to meet with us, have them reach out to us either by replying to this email or calling the office, that way we can reserve them a spot, we’re limited only about 20 people or 20 tables per event. So space is goin fast and if you’re interested in attending we encourage you to do that.

Now let’s get to the Five links for this week. The first link is what I’m reading and I found an interesting article about the rich people that are buying properties that they think are Covid safe. It’s a little crazy out there in fact you may be aware of the vibrant housing market that’s going on right now. Because we live sorta between two cities. There are a lot of people that are looking to move out of the cities. And to find some place that seems like it’s a little bit more spread out and might be safer from the spread or second wave that might come from the pandemic. So I found that article kinda interesting.

The next thing is what I’m watching. Now those of you that follow presidential terms and presidents that are in there. Often uh think about Jimmy Carter somebody that wasn’t that tough. In fact he only had one term and at the end of it he had this whole hostage situation that they called Operation Eagle Claw and what we were looking uh what happened over there was things didn’t work out as planned. But I found an interesting link that actually makes the argument that Jimmy Carter was actually one of the mentally tougher at presidents that served. And couple things could have gone just the opposite way and we would’ve thought about him entirely differently but it all centers on what negotiations were going on and what back room stuff was going with Operation Eagle Claw, which was the opportunity to try to get those hostages back. So I encourage you to check that out you might actually change your opinion about Jimmy Carter because no matter what he did in office, all of the work that he does in humanitarian level definitely puts him at the top of the list of somebody to be admired.

Next link after that is what’s new in tech. This week they shipped out models of the new Surface Duo, which is Microsoft’s foray into kinda having a foldable phone. It actually turns out that it is two screens that has a great hinge that opens and closes together. But I found a good link that describes this and now some of you are thinking but Victor you were an apple guy and you’re right I am an apple guy but I really like technology and gadgets and I thought this was probably the best representation of a foldable device that I’ve seen so I encourage you to check that out, it’s gonna be pretty pricey. The Surface Duo I think is coming around about $1300 or $1400 uh so there is a penalty to pay for being on the bleeding edge of technology but you may wanna just check that out.

The next link is what’s new in legal. And we found an article that talks about why a will is not enough, jeez you know I’ve been talking about for probably 12 or 13 years now. In fact couple of the books that I author really focus on why you don’t just want a will. But if you wanted to read this article it’s really gonna describe the difference between a will and a living will and why we’re looking for more expansive documents when we put together a comprehensive estate plan. In fact that’s all that we do is put together a comprehensive estate plans, we don’t do things where just somebody comes in with one document or two documents, we don’t think it’s the right way of doing it. But it was a really good article that highlights why you need a more comprehensive estate planning and if you’re interested in learning in all of the tools that we think that you need in order to put a great estate plan together I’m gonna make you an offer, we have a nut shell guide available to you all you have to do is reply to this or send this to somebody that might want a copy and we will send it out complimentary our gift as being friends with yours to be able to share this information just gotta let us know where to send it and who to send it to.

The last link for this week is what’s new in Retirement and I’ve found an article about how to manage market volatility sort of in this post pandemic Covid world. So a lot of topsy turney things going on with the stock market. Now usually when I find these articles I’m a little bit hesitant to recommend them because they’re not really all of the exact advice that I would give. Sometimes there’s a couple of pieces in there that I agree with and often there are things that I don’t agree with. But in this article I actually thought it did a great job of talking about two or three things that I think are important. It talks about why you might want guaranteed income streams in retirement. That’s a way of dealing with market volatility. If you don’t have to draw from the big pot of money because you’ve got a guaranteed check that gets delivered every week. That’s a good strategy happen to agree with that one. Now I also talked about managing your behavior or your expectations and dealing with the emotional side of your investing. Tryna remove the emotion from that. I agree with that also. So this is a rare article I actually agree with a lot of the stuff that’s in there and I’m happy to recommend it.

Now as a reminder if you want a full discussion on everything that you might need in order to retire comfortably in a recession that’s what those seminars that we’re holding next week are for, we’re gonna talk about income planning, we’re gonna talk about income taxes, we’re gonna talk about investments, we’re gonna talk about legacy and estate planning, we’re gonna talk about why a good plan actually combines all of those things together and what’s important for you to know, to know that you’re comfortable or will be comfortable and safe in retirement. Again if you’re interested in registering for that seminar reply to this email or forward it to a friend that you think might benefit from listening to that email. Worst thing we’re gonna do is we’re gonna be outside for a little while and getting a meal, there are limited spaces so I encourage you to reply as soon as possible.

So lets go for a review this week. What I’m reading was an article about the rich people that are buying Covid safe properties, what I’m watching, a new look at Jimmy Carter and maybe his mental toughness specifically around Operation Eagle Claw. What’s new in tech, the new Microsoft Surface Duo. A best representation of a foldable phone or device, what’s new in legal, why a will is not an only thing that you need as part of your legal plan. And finally what’s new in retirement, how to manage your investments. Against market volatility. Those are the links for this week, hope you enjoyed the new look on the video. We’ll catch you in a couple of weeks!