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As a financial and retirement planner, I have learned that people hate paying taxes. The truth is, the history of taxation is a complicated one full of wars, audits, jail time, and factions of society that were created in rebellion to the idea itself. To make things worse, the “rules” laid out by the IRS when it comes to tax are extremely complicated, ever-changing, and leave a ton of room for discretion. So, how might one go about reducing or entirely removing the IRS as a benefactor to their retirement investment they have worked so hard to save?

If I asked you what your objective is when it comes to investing, what would your answer be? In my years as a financial advisor, I have found the answers I have gotten to this question to be far too broad to be meaningful. Whether it is “retirement,” “saving for my children’s college education,” or (the worst answer) “making money”. When it comes to anything in life, including investing, your success is in the details.

“FAANG” stands for Facebook, Apple, Amazon, Netflix and Google/Alphabet. These are considered 5 of the hottest stocks in the market today. These 5 stocks have no doubt created a lot of rich people and in turn, have generated a lot of buzz when it comes to any investor from the newest to the most advanced. This concept has driven further theory and speculation into “figuring out” or “cracking the code” to the unpredictable stock market which has been going on since its inception in 1926.

The Coronavirus pandemic continues to define 2020 as well as the economy and markets for good or for bad. It seems this volatility has been driven by “consumer market sentiment” (how people are feeling) vs economic factors such as unemployment and GDP (Gross Domestic Product).

Planning for retirement and retirement itself is both a game of numbers and psychology. Both areas serve to create the most successful planning and, ironically, a focus on each of these areas individually serve the other. The numbers are the foundation and lifeblood of any retirement plan. Most people, even the ones actively saving for retirement, do not have a clear and specific idea of what their investments will be and what they can expect from them when they retire.

What should a business owner do to protect themselves and their business’ in the event of a market downturn? Here are 3 important aspects to keep in mind -- be aware, be lean, and be balanced.

"The CARES Act provides 2 trillion dollars of government aid along with several SIGNIFICANT changes to preexisting IRS, retirement accounts, and other financial rules in attempts to open up opportunities for individuals and small businesses to survive in this time of crisis. I have broken down and summarized that document here into 5 key areas: Recovery Rebates, Coronavirus Related Distributions, Significant Tax Changes to Retirement Accounts, Unemployment Compensation Benefits, and Small Business Benefits."

"I have often said that what separates average investors and the great ones is how they make decisions when the markets become volatile. With education and understanding comes great discipline. There is an actual science around disciplined investing which has always been the easiest and most probable way to be successful in the markets long term."