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The Virtue of Slowing Down

Time is an interesting dimension. It is a fixed measurement, yet our perception of time varies greatly depending on what we are doing. It has been said that the longest eight seconds in life is riding a bull. I never rode a bull and have no interest in testing that statement for myself. So, I will take it as fact. But even so, eight seconds is eight seconds – regardless of what we are doing.

The Peril of Investment Fads

As we are midway through the year, it can be a good idea to take stock of what happened so far, and what we can learn about it. Looking back is an important activity as we seek to progress. It’s not about beating ourselves up for mistakes or feeding our ego for profitable decisions; it’s about learning and improving our thought and decision-making process.

Year-End Income Tax Planning Tips

As a very eventful 2020 comes to a close, we would like to share the following tax tips to consider before year-end: 1. Maximize your retirement savings. The contribution limit on an IRA or Roth IRA is $6,000 in 2020 with an additional catch-up contribution of $1,000 for taxpayers age 50 and over. The 401k plan contribution limit is $19,500 with an additional contribution of $6,500 for taxpayers age 50 and over.

Psychological Contagion

Having dealt with the coronavirus now for over 6 months, we have become quite familiar with a viral contagion. It spreads quickly and we can’t always tell who has it.

Uncertainty, Outcomes & Our Decisions

The brain has a lot of gray matter but hates gray areas. As a planning machine, the brain needs information that is certain so it can figure out the best course of action. And when we don’t get certain information, we get agitated. Perhaps you have said, “I don’t care if the news is good or bad, just tell me what it is. Not knowing is the worst.”