"Forecasters seem to act as if the future already exists, and all we have to do is be smart enough to discern it. But that ignores the fact that all of us—
and many other influences—
are constantly creating the future through our collective activity.”
Howard Marks, investor and writer
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- Letter from Bryan: Tombstones and Face Masks
- IRA Contribution Deadline Extended
- COVID-19 Status Report
- Fall HCC (Online) Courses
- TKG Updates
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Tombstones and Face Masks: Life Lessons from Memorial Day, COVID-19 Version
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This past Memorial Day, I was reminded of a story about a child living through the Battle of Britain.
It's 1940. The Nazis are intensifying their evening bombing attacks on London, so that each nightfall brings the terrifying anticipation of indiscriminate destruction and sudden death. During this most extraordinary of times, a young boy is asked a quite ordinary question: "What do you want to be when you grow up?" Rather than answering "A pilot" or "A policeman" or even "A soldier", the boy instead simply replies, "Alive".
That incident strikes a chord with me, having just commemorated Memorial Day during a pandemic. Each year at this time when we honor the sacrifice of our fallen warriors, I wonder what we should tell children who are surrounded by the intense images of mortality they see on television—the rows of tombstones, the laying of wreaths, the playing of Taps. But this year that question is even more salient. Before, during, and after Memorial Day, our children have been bombarded with additional reminders of the fragility of life—the omnipresent face mask, the relentless instructions to keep six feet away from another human being, the obligatory announcements of the latest COVID-19 death toll.
In 2020, we recognize not just our military heroes, but another type of hero as well. The heroes fighting the virus are armed not with guns and artillery but medicine and ventilators. And the threat they are fighting is not safely confined—in a child’s mind—to another time or place, but is here now, in our backyards, parks, and playgrounds, affecting our way of life, mocking our usual frivolity at holiday barbecues, shutting down our schools.
It seems to me this must be a bit much for a child. Between the graves of Memorial Day and the masks of COVID-19, are today’s children silently wondering if they will make it to adulthood alive? And, if so, is there an opportunity for us to calm their fears by focusing their attention away from mortality and toward the positive life lessons these images can teach them?
I believe this is such an opportunity. I believe we can help young children learn to process what they see and hear into positive messages about how to tap into the virtues that are inside of them. That is, I believe we can use the challenges of our time to teach children the traits that each of us needs in order to overcome challenges, defeat adversity, and become heroes ourselves.
What are these virtues? We all know of many, and each of us can teach them in our own way. Here are just a few:
- Gratitude. I think this is the virtue that leads to all others. If one establishes the daily habit of recognizing what one is thankful for, life’s bountiful opportunities are more likely to shine clearly. Foremost among our many blessings is the protection provided by our heroes. The best way to express our gratitude is to live like them, and to carry on their mission to help assure our future will be a bright one.
- Resilience. This means never giving up. Whatever challenges come along, our military and medical heroes deal with them. Yes, this comes from training and experience. But resilience also comes from the confidence we have in ourselves, despite moments of failure and despair. Heroes accomplish amazing feats by looking adversity in the eye and overcoming it.
- Adaptability. But how can we be resilient? One tool we can use is our own ability to adapt—to enhance the skills we need in the circumstances and use our creativity to find new ways to solve new problems. If you never give up—resilience—you will find a way to succeed—adaptability.
- Empathy. Heroes risk their lives because they care about others. But most of the time we can help others with little risk to ourselves. Everyone deserves to be treated as a valuable individual. We wear a mask not just to protect ourselves but to protect other people. And we treat the stranger with respect because they have needs and feelings just like us.
- Love. There is nothing more important than family, friends, and community. Ultimately, our love for each other is what gives these virtues their power and significance. And encourages us to remember our fallen heroes.
- Optimism and Faith in the Future. If we all try to adhere to these and other virtues, then there is every reason to believe the future is bright—for us, our families, and our country. We owe it to our heroes to go forward with the attitude best expressed by Winston Churchill: “For myself I am an optimist—it does not seem to be much use being anything else.”
Of course, this is a very short sample of virtues that our children should learn about. What other virtues would you discuss with a child and how would you teach those virtues? Would you use examples from your own life or from history? Would you ask the child to think of how they could put each virtue into practice?
We should use the challenges of today and the sacrifices of our fallen heroes to help our children learn important life lessons. And, of course, the very best way to teach our children is by example, to practice these virtues ourselves.
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IRA Contribution Deadline Extended
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Due to the coronavirus tax filing extension, there is still time to make a regular IRA contribution for 2019. You have until your tax return due date (not including extensions) to contribute up to $6,000 for 2019 ($7,000 if you were age 50 or older on December 31, 2019). For most taxpayers, the contribution deadline for 2019 is July 15, 2020.
You can contribute to a traditional IRA, a Roth IRA, or both, as long as your total contributions don't exceed the annual limit (or, if less, 100% of your earned income), and subject to income phaseout ranges (see below). You may also be able to contribute to an IRA for your spouse for 2019, even if your spouse didn't have any 2019 income.
Read More
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Despite the effects of COVID-19 and the heartbreaking events of recent days across our country, The Kelly Group maintains its confidence that together we as a community will get through our troubles and come out the other side better for them. Hope and optimism is the fuel that will push us forward.
As a sign that progress moves forward despite the daily headlines, we provide the accompanying photo showing the rather amazing progress of the new development across the street from us. Downtown Bel Air continues to grow!
And meanwhile our Team keeps our eye on the ball—
namely, we continue to serve our clients and our community to the very best of our ability. We have been able to do this rather seamlessly with most of our Team members working from home.
As Maryland and Harford County progresses through the various stages of opening up, The Kelly Group is monitoring the situation closely. Most Team members continue to work and communicate with clients from their homes. Throughout the coming days and weeks, more of us will be coming back on site. We will continue to update you as matters progress. Please be aware that our primary concern will also be the health and safety of our clients and employees. For now, as a reminder, the following conditions still apply:
- Client meetings by telephone/screen share. Until further notice, we are scheduling all meetings to be held remotely. For those clients with computers and access to internet, we will be able to share graphics and run through our financial planning software and other programs just as we do in person. Otherwise, we can simply talk by phone.
- Limited in-office staff. Our cloud-based platform and phone system allows us to safely access our database and to forward phone calls from our office to our home. We will continue to be reachable by our office phone—410-893-0560—and our usual email addresses.
- Electronic paperwork. Our current technology allows us to process most paperwork—including obtaining signatures—electronically. Paperwork that cannot be done electronically and is not urgent can be processed by snail mail.
We will continue to communicate with you about any new developments. In the meantime, if you have any questions or concerns, or just want to talk, we are here for you and will continue to be here for you. Be Healthy and Safe. And continue to remember, together we will get to the other side of this!
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PIMCO Named By Fed As Monitor
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PIMCO, one of the fixed income strategists used by The Kelly Group, has been selected by The Federal Reserve Bank of New York as monitor for the Fed's "TALF 2.0" program. The TALF program has been established to help market participants meet the credit needs of consumers and businesses during this economic crisis. PIMCO will provide credit evaluation and monitoring services that will help guide which securities will be accepted as collateral for Fed funding.
According to the Fed, PIMCO's role will encompass the entire TALF—
Term Asset-Backed Securities Loan Facility—
portfolio, which includes both commercial mortgage backed securities and non-mortgage backed securities. PIMCO served a similar role for the first TALF program in 2009 during the financial crisis.
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Fall HCC (Online!) Courses
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Harford Community College plans to offer online-only instruction for the fall 2020 semester. As a result, The Kelly Group's initial plan to offer as many as five courses in the fall has been scaled back to a two course slate. Charlie Wolpoff is scheduled to teach (virtually) Medicare Planning for Baby Boomers (September 16) and The Family Love Letter for Baby Boomers (September 23). Please note these dates are different from the original schedule. Both courses are planned for 6:30-8:30 p.m.
Social Security Strategies for Baby Boomers, to be taught by Jodi Davis, and Retirement Strategies for Federal Employees, to be co-taught by Jodi and Charlie, have been postponed until spring 2021.
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Bryan Featured in UMBC Magazine
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Bryan Kelly’s alma mater features him in the latest edition of UMBC Magazine as a reassuring voice in the face of the pandemic. The article highlights members of the Retriever community who have reached out to offer essential financial advice during these difficult times. Bryan is its lead example, as an advisor who puts into practice his passion to be the Norman Rockwell town doctor of finance by swiftly responding to the crisis with web-based fireside chats and a virtual Town Hall. A recording of that Town Hall can be found on our website at
www.kellygrouponline.com
. And let us know what topics you would like to cover in future Town Halls and—after things get back to normal—in live client events.
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Rick Participates on Chamber Panel
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On April 23, Rick Fletcher served as a panelist on the Harford County Chamber of Commerce virtual Economic Outlook event. Rick shared insight and information on today's markets, how The Kelly Group plans for economic downturns, and the importance of adhering to a well-constructed financial plan.
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Tom Runs for Brain Tumor Research
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Throughout the month of May, Tom Cusick and his fiance, Meredith, ran more than 100 miles each to help raise money for the Children's Hospital of Philadelphia (CHOP). The donations go toward brain tumor research in honor of Meredith's sister, Liza, who underwent successful surgery to remove a brain tumor by Dr. Storm's team at CHOP. The challenge was to complete a total of 31, 62, or 100 miles by either walking, running, biking or swimming. By the end of May, Tom and Meredith, and their family and friends—
including members of The Kelly Group—
helped raise more than $3,500 and traveled a total of 3,496.06 miles.
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Check Out Our Facebook Page!
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The Kelly Group Facebook page is a great way to keep up with our many Kelly Group Happenings as well as events and causes we support and promote. You can see our page by following the link below, or simply type "The Kelly Group" into the Facebook search bar and look for our leaf logo.
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We Want to Hear From You
Let us know what topics you would like us to discuss in our newsletter. Send your suggestions to cwolpoff@kellygrouponline.com.
Securities offered through Cambridge Investment Research, Inc. a Broker/Dealer, member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisor, Inc., a Registered Investment Advisor.
The Kelly Group
and Cambridge are not affiliated. Diversification and asset allocation strategies do not assure profit or protect against loss. Past performance is no guarantee of future results. Investing involves risk. Depending on the types of investments, there may be varying degrees of risk. Investors should be prepared to bear loss, including total loss of principal. "IRA Contribution Deadline" article, used with permission, was prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2020.
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Copyright © 2020. All Rights Reserved.
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