Announcer:
It’s time now on KROS for Financial Focus brought to you by NelsonCorp Wealth Management. The opinions voiced in this show are for general information only and are not intended to provide specific advice or recommendations for any individual. Any indices mentioned are unmanaged and cannot be invested into directly. Registered representative, securities offered through Cambridge Investment Research Incorporated, a broker dealer, member of FINRA/SIPC. Investment advisor representative, Cambridge Investment Research Advisors Incorporated, a registered investment advisor. Cambridge and NelsonCorp Wealth Management are not affiliated. Cambridge does not offer tax advice. Now, here’s today’s Financial Focus program.
Nate Kreinbrink:
Good morning, and welcome to this week’s Financial Focus, brought to you each and every Wednesday morning right here on KROS. This is Nate. James, joining me again today, Wednesday morning, a little pleasant out there today. Not too bad, as far as a mid November heading up here, although school schedule’s changing, and a lot of that is up in the air, so I know what everyone else is dealing with that as far as wondering what tomorrow’s going to look like, and then, how it’s going to adapt from day to day.
James Nelson:
Yeah, no doubt. I think this is going to be a holiday season that we’re all going to remember. And just talking with clients, and coworkers, and whatnot, it sounds like a lot of Thanksgiving plans have been canceled, probably Christmas plans, at some point, will be canceled. So, yeah. Interesting times and definitely some uncertainty this year.
Nate Kreinbrink:
Uncertainty around that and [inaudible 00:01:34], at least your dad’s, specifically, and a lot of the area schools, as far as boys’, girls’ basketball, getting back onto the court. Hopefully, they can continue in some of those other school activities that are trying to pursue forward as best as they can. Hopefully, the students, and the districts, and schools can do that, and then, make the most of that, and continue that as long as possible.
James Nelson:
Yeah. Yeah. That’s a tough job to make that call one way or another. And yeah, hopefully, they can continue the season and play some games here one of these days.
Nate Kreinbrink:
I know uncertainty around that. There’s, obviously, in the news, been a lot of uncertainty around a number of other topics as well. And obviously, we won’t spend a lot of time on it, but the election and the results, and things along those, and how markets have responded pre-election, during the election, and now, post-election. But another thing that came into that was just the volatility. And you saw a big uptick, as far as when some of the news was announced, regarding a vaccine, possibly, for COVID-19. And obviously, now, we’ve got two companies out there that are leading the way, getting that vaccine pushed out there. Obviously, that’s a plus, and markets responded good to it, but people need to still be fairly conservative and be responsible as far as what they’re looking at with that.
James Nelson:
Yeah, exactly. The vaccine’s good news on all levels. The first sign of maybe getting back to normal. It sounds like maybe spring time seems like the timeline, as far as distribution. And like you said, there’s two in the hunt. It sounds like maybe a third coming out later this week or early next week. So, we’ll see the results there. But yeah, it’s pretty cool. It’s pretty cool that they’re US companies leading the way too. Everybody’s been on the fast track with this, and if we can pull it off, all the better.
James Nelson:
But yeah, it’s been a nice little push as far as the markets go. Still comes back to having a plan. I had a phone call of a client wanting to maybe jump into Pfizer and Moderna stocks, and maybe it’s too late for that. Who knows? They’ve had big pushes and a lot of play the last six months or so, being at the front runner for the vaccine. So, anyway, it gets back to sticking with the plan, and not chasing something that might be out there, but holding onto the plan and not getting emotional, and wanting to maybe make an irrational decision.
Nate Kreinbrink:
Right. I think that is the overall concept of any basic show that we do, any week that we do it, whether it’s you and I up here, Andy Ferguson with NelsonCorp Tax Solutions up here with that. It’s plan, plan, plan. And I think people probably get tired of hearing it, but it really boils down to that, and just being prepared, being able to have answers, and being able to react. We know volatility is going to happen. We know there’s uncertainty that’s going to happen no matter what we are doing. But it’s having a plan of being able to adapt to that when it goes into that. I know another big topic that continues to be thrown around is the stimulus, and there’s, are we going to have another stimulus round coming out like we did earlier on the year? What is it going to look like? Is it going to be the same amount? Who’s going to get it?
Nate Kreinbrink:
And again, a lot of unknown that still is surrounding that as far as in Congress, in the Senate, as far as what’s going to get passed, Republican, Democrat, at the end of the day, and people just want answers, and how it’s going to affect them. And obviously, we don’t know for sure how that’s going to look, but I know going back to the first one and how the markets responded when that came out, hopefully, that is something we trend towards. Because again, it’s been some difficult times, I think, for a lot of people, business owners, small business owners, people just trying to get by that have lost jobs or had their hours drastically cut. So, obviously, I think everyone knows that it’s needed, and it’s just to what extent that’ll look like.
James Nelson:
Yeah. I think a lot still stems on or depends on the Georgia Senate races. Now, we’ve got two runoffs that push that timeline back even further. So, all around, just a crazy year, and delays seem to be the normal thing anymore. So yeah, that is going to create a lot of uncertainty. As far as the stimulus package, like you said, Nate, I think most people are in agreement that something will probably be done early next year. It’s just a matter of what and how much, like you said. That the first go around, the markets responded favorably, but there’s probably some things that needed to be worked out. All the checks that went out to deceased individuals, and that whole mess on how to get them back, and how they’re going to go about auditing those.
James Nelson:
The PPP money that went to several businesses, probably rushed out a little too quickly and a little too laxed on some of those guidelines. So, I think everybody’s in that camp, and things will be tightened up the second go around. And again, time will tell. It’s just how much and when this gets pushed out. But it sounds like both sides agree that something probably needs to be done sooner rather than later.
Nate Kreinbrink:
Right. I think people continuing to see where market levels are. I know you look at the three major averages, they’re continuing to hover near marks that have never been hit before. And yet, you see people and you hear a little mutter, I think, when people come back in, as far as, “Oh, we’re back to… We’re back,” and all this type of stuff. But I think there’s still, it’s important for people to realize that there’s a lot of uncertainty that is still out there. And I know we just tit on two big of the topics that continue to do, but there’s a lot more out there. Again, even with markets approaching levels that have never been seen before, it’s still extremely important for people to realize that you’d need to still be cautious, and it’s not time to just go crazy with how we’re looking at allocations and where things possibly, and probably, will be going forward.
James Nelson:
Yeah. I think we saw it earlier this year when things shut down for a period of time. I think you could make a strong argument that that may happen again, at least to some degree, maybe not to the same level. Maybe we’ve learned a few things, but you could probably make the argument. Come winter time here, there may be a scenario like that again. So, to think that we’re totally out of the woods with the vaccine coming down the line and stimulus talks continuing, I don’t think that’s accurate. I think the possibility of a potential partial shutdown is out there. And again, we’ll see how markets respond. There’s a ton of uncertainty this first go around. I think if it happens again, there’ll be still, obviously, uncertainty, but we know how this is going to go from the first go around. So, maybe not the quick whiplash, like we saw the last time, but certainly, that possibility is out there, and everybody needs to be aware of that.
Nate Kreinbrink:
Right. I think it really comes down to especially an important time period for those individuals that may be had end-of-the-year circled as far as time when they were going to call it quits and retire. Those individuals that were going to retire early on and next year, whatever. It’s really important for them to still sit down and make sure that the assets that they had heading into retirement that they thought they were going to have, pension plan, anything with those going into it, to make sure they’re still roughly where they are and still going to be able to last what they thought they were going to have heading into retirement.
James Nelson:
Right. Right. Exactly. And we talk about it. How many conversations have we had, Nate, with people switching the retirement plans? Whether that’s social security, oh, I’m drawing earlier, I’m drawing later because of this. Or, yeah, I’m retiring earlier. I think in Iowa, we saw a record number of retirements this year, whether that’s school teachers or any anybody that’s in front of a group or around a group. We saw record retirement numbers. So, yeah. Obviously, plans have changed in a hurry. And again, those conversations need to happen before that end date.
Nate Kreinbrink:
Right. Again, a lot of stuff to go over. And again, we continue to harp on that plan, but I think it is important. And that peace of mind that people get after sitting down, meeting, putting things laid out all in front of them. So, all those questions that they have, hopefully, we can give them a little bit of clarity to help answer some of them as they transition from that working phase into the next phase of their life as far as retirement and what that may look like. I did want to mention real quick before we do run out of time that every Friday, NelsonCorp Wealth Management is wearing jeans for charity. Money raised in the month of November will be donated to the Help Program sponsored by RSVP here in Clinton. James, once again, appreciate you joining me this morning.
James Nelson:
Absolutely.
Nate Kreinbrink:
Everybody, stay safe, healthy. Again, this is Nate and James with NelsonCorp Wealth Management, bringing you this week’s Financial Focus. Thanks again for tuning in, and have a great rest of your week.
Announcer:
Financial Focus is a production of NelsonCorp Wealth Management in Clinton and Davenport. The opinions voiced in this show are for general information only and are not intended to provide specific advice or recommendations for any individual. Any indices mentioned are unmanaged and cannot be invested into directly. Registered representatives, securities offered through Cambridge Investment Research Incorporated, a broker dealer, member of FINRA/SIPC. Investment advisor representative, Cambridge Investment Research Advisors Incorporated, a registered investment advisor. Cambridge and NelsonCorp Wealth Management are not affiliated. Cambridge does not offer tax advice. For more information, visit our website at www.nelsoncorp.com.