April 13, 2020
Video Conference
Like everybody else in the world, I am Zooming with my siblings, FaceTiming with my children and now I’m learning to use GoToMeeting to communicate with my staff and my clients.
Starting this week, I’m going to begin using GoToMeeting for my periodic review phone calls.
I will be joined in these calls by Elizabeth D’Aleo, our new Director of Client Relations, her bio is below:
Elizabeth began her career in 2002 as a Financial Specialist with Wachovia Bank, later to become Wells Fargo. She became insurance and securities licensed while in this role and later held regional leadership roles in the retail segment of the bank. In 2008, she joined Lee, Nolan & Koroghlian, LLC, an Insurance and Financial Services firm with offices in NJ, NYC & LI. She was a Financial Advisor for 4 years later to be promoted to Brokerage Director. In this role she worked to build and maintain relationships with outside insurance brokers, offering Mass Mutual’s fixed insurance products. She held this role for 6 years. She has now joined us as our Director of Client Relations, bringing her 18 years of experience.
Outside of work, she enjoys learning about and collecting wine, cooking and has a deep love for health & fitness. She is a mom to a beautiful little girl and lives with her family in Jersey City, NJ since 2014.
You can expect these to be relatively short calls to:
- Catch Up
- Review the Portfolio
- Discuss any changes that might be required
Portfolio Changes
When the market was at record highs last year, we decided to stop reinvesting dividends so we could accumulate extra cash to invest opportunistically.
Now that the market is at much lower levels, we are ready to reinvest dividends again. Most Portfolios generate 2% to 3% in dividends each year. This is not a major change, but a small adjustment that should add to your performance over time.
Later this year, between Thanksgiving and Christmas, we will consider harvesting losses to be used to shelter future gains. We’ll talk more about that towards the end of the year.
More Video Conference
In the meantime, I look forward to video conferencing with you soon. If you’d like to get a jump on preparation, please download the GoToMeeting application. This is pretty easy and involves usually just a few clicks. I will be sending you an invitation via email which will include a link to join the meeting.
You can use your computer or your phone for audio. You’ll be able to see me and Elizabeth, and if you have a camera we can see you IF YOU WANT! If, for any reason you don’t feel like being seen that day, it’s not necessary. You can join by phone only or use your computer and cover up the camera.
I will be able to share a performance report or other documents with you via the computer, so we can look at the same thing at the same time. So far, it seems pretty straightforward and seems to work well.
Clearly, this is the wave of the future and everybody’s doing it now.
This Week’s Tax Tip
There are NO Required Minimum Distributions from IRA’s or 401(k)’s in 2020.
As always, stay safe and please call me if you have any questions.
Kevin Ellman
CEO, CFP® Wealth Preservation Solutions
Personal Family Office / 360 Wealth Management