Category Archives: Clients/Clients Only

Fourth Quarter 2022 Review, Bill(s), Rates, Bills and Sunshine – Private Policy, Annual Offerings

Dear Investor:


On December 20th, 2019 the Secure Act was singed into law. On December 27th , 2022 the Secure Act 2.0, a bill long in the works and a mere 4200 pages long was signed into law. The most important item in the financial world (there were a multitude of areas addressed) as the second upping of RMD’s to age 73. Look for more information soon from us.


In December the FOMC (Federal Open Market Committee) led by Jerome Powell raised rates to over 4% after starting the year at zero.  As mentioned in our Q1 2023 Newsletter article (Maybe a Tiger can change Stripes0, on a percentage basis this would be a possible once in a lifetime speedy move.  This may also be a return to a normal interest rate policy (hopefully) with no intention of going to the zero boundary again.  See Next point.


Not getting too wordie, but US citizens “bills” or the increase in them in the form of food, travel, energy, housing just to name a few are what is creating the opportunity of the afore mentioned speed of rates or rate increases. The CPI (Consumer Price Index) measurements continue to hold at much loftier levels than anyone thought possible (somewhat due to lagging indicators) and are allowing rates to rise and likely stay higher for longer.  This is a good thing for our safe assets aka Fixed Income/Bonds thankfully as most of the headwinds are likely behind us, again see Q1 2023 Newsletter lead article and associate graphs.


Last year at this time we were reviewing items such as “Anatomy of a Slowdown” and “The R” Word – Recession.

Today, from our unique “Personal Reflections” portion of our Q1 2023 Newsletter :

“Future is better

Just as we pointed out over a year ago what a slowdown looks like and that it might occur, we are now ready to point out later on this year it’s very likely the clouds of higher interest rates and two feet on the economic brakes by Powell are likely to clear.”

This is also the time we attach our Private Policy Statement for the year, along with our opportunity to offer our latest ADV filings and Client Relationship Summary (Form CRS); Requests for review will be accepted via phone, mail or email, and mailed immediately upon request.

Happy Turn of the Calendar, and Best Wishes for the Start of a New Year!


John A. Kvale CFA, CFP

Enclosure (2022 Report)

J.K. Financial, Inc.


Our Promise to You

As a client of J.K. Financial, Inc., you share both personal and financial information with us.  Your privacy is important to us, and we are dedicated to safeguarding your personal and financial information. 

Information Provided by Clients 

In the normal course of doing business, we typically obtain the following non-public personal information about our clients: 

  • Personal information regarding our clients’ identity such as name, address and social security number;
  • Information regarding securities transactions effected by us; and
  • Client financial information such as net-worth, assets, income, bank account information and account balances.

How We Manage and Protect Your Personal Information

We do not sell information about current or former clients to third parties, nor is it our practice to disclose such information to third parties unless requested to do so by a client or client representative or, if necessary, in order to process a transaction, service an account or as permitted by law

In order to protect your personal information, we maintain physical, electronic and procedural safeguards to protect your personal information.  Our Privacy Policy restricts the use of client information and requires that it be held in strict confidence.

Client Notifications

We are required by law to annually provide a notice describing our privacy policy.  In addition, we will inform you promptly if there are changes to our policy. 

Please do not hesitate to contact us with questions about this notice.

It’s A Party … Party Party … One Week from Tomorrow … DMA Holiday Parking Reimbursement Instructions, Coupons in the Founders Room … Friday

One week from Tomorrow, Saturday November 19th at 2 PM at the DMA (Dallas Museum Of Art) we welcome those available to attend to the 26th Annual J.K. Financial, Inc. Holiday Party…

Thank you to all who are taking time to come visit and share the Museum together….

Be sure to drop by the Founders Room so we may give you a parking pass to avoid the Museum Garage Parking fee…

Here again is the official reminder/invitation:

Ahhhh….today is a Friday here in Dallas, and Mother Nature is about to turn on the A/C and the rain… enjoy your weekend – Talk Next Week!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.



Holiday Party Saturday November 19th – Dallas Museum of Art – Founders Room 2 PM Meet and Greet …. Saturday Before Thanksgiving …

We really like the novelty and tradition of the paper invite…but not the formatting issues associated with the sixth revision, to make it just “Perfect!” that dropped the day of the event…. grrrrrr

Thanks for all the jabbing…. much deserved… proves our originalism… oddly, in 26 years, this was not the first time this has happened!

Have a Great Holiday Date Correction Day! See you there!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.



Third Quarter 2022 Review, Patience as we look back and forward

In this review, we have chosen not only to look back over the prior 90 days, like we usually do, but we also wanted to look forward as we go up to the end of 2022!

Patience is a Virtue

Jerome Powell (Chair of FOMC) and his fellow FOMC board members have continued to raise rates, much faster and much greater than many, including ourselves thought possible. Rewind back just to the beginning of the year and the federal reserve were actually pushing rates down, in a quick about face by the end of the first quarter, rates were on their way up an asset purchases by midyear had reversed and become asset runoffs. Their purpose is of course to slow inflation a.k.a. CPI (consumer price index), while with great intentions many of the inputs in the CPI index are very lagging and have likely already rolled over but have yet to feed into the actual report due to their delayed nature.

Patience is needed as mentioned in the bullet before this commentary and also greatly outlined in our Q4 2022 newsletter. In that newsletter, which you should already have in your possession, we outline the normal lengths of time that a slowdown occurs and what to expect from almost all angles. The main reason that we did this is to remind ourselves, and everyone else as well, as the last decade has garnered an unusually fast and short slowdowns and commensurate recoveries. With the FOMC on a continued rate increase, this slowdown is likely to be much more similar to prior slowdowns in both time and fatigue of the economy. Patience, we will get there.

Looking Forward but no Predictions

Using history as our guide, the fourth quarter is indeed usually one of the best. However, as mentioned above, the macro economy pulled down by the federal reserve and continued right increases may overwhelm seasonal historical blossoms and weigh down a normally sunny period on the calendar.

Contra moves in both Equity/Stock and Fixed Income/Bond

In slow downs, equity markets have an unusual tendency to slowly drip in reverse and then all the sudden make a jump forward only to slowly start dripping in reverse again.

In this economic cycle, we have a new asset class that is also participating, the Fixed Income Market. As mentioned earlier with the federal reserve and Powell on a continued increase goal interest rates on the longer end of the yield curve i.e., the 10 year (versus the very short one or two) have smartly slowly gone down only to jump backwards up again and then slowly begin their decrees again. Patience is again a virtue, a slowdown leads to lower rates eventually, even with the FOMC raising rates.  Patience really is a virtue, we will be there with you, thanks for your time and your patience


John A. Kvale CFA, CFP

Enclosure (2022 Report)

Holiday Party Save the Date Re-reminder … The Newsletter Begins … Early Fall Friday …

26th Annual J.K. Financial, Inc. Holiday Party

Dallas Museum of Art

Saturday November 19th 2 pm meet and greet then tour until 5 pm closing

(Weekend before Thanksgiving)

Ok … those are some large font letters above…. but wanted to get your attention and have you pencil it in your calendar….


With a fast month end approaching due to holidays and the afore mentioned travels… this weekend the Newsletter begins. The subjects have been decided… couple of podcasts interviews and another slowdown reminder…but there are no words as of yet…. that ends this weekend….haha

EARLY Fall Friday

Are you ready for some Football ? Usually means fall is just around the corner…. and it is…

Have a Great Friday and super weekend – Will talk to you on the other side of an initial Newsletter Creation weekend !

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.



Oddly Timed ES Payment Due Date … Q3 ES Payment Due September 15 2022 ! Eight Days from Today!

Not to worry…. we caught this ES payment due date well in advance… thanks to our Friendly IRS Reminder email early this am….

But as mentioned before the staggered due dates can be confusing….

Not to worry, we have PLENTY of time after this one…. but again, here is your reminder!

Tax Due Dates

Payment Due Dates
You can pay all of your estimated tax by April 18, 2022, or
in four equal amounts by the dates shown below.
1st payment . . . . . . . . . . . . . . . . . April 18, 2022
2nd payment . . . . . . . . . . . . . . . . June 15, 2022
3rd payment . . . . . . . . . . . . . . . . . Sept. 15, 2022
4th payment . . . . . . . . . . . . . . . . . Jan. 17, 2023*

  • You don’t have to make the payment due January 17,
    2023, if you file your 2022 tax return by January 31, 2023,
    and pay the entire balance due with your return.

Electronic Payment of ES Taxes

Here is the IRS tax website link, which is very easy to make electronic estimated taxes. Be sure to follow the instructions carefully as there are a lot of different options for making payments to taxes, and be sure to carefully enter your personal information so the IRS knows it’s you.

We recommend you do this electronically if at all possible…. the mail is still having issues!

Have a Great “Oddly timed ES Tax Reminder” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.



A Very Productive Week … Finishing Touches on Neat Holiday Party Venue … Continued Office Updates … First Travels of Late/Post Summer Next Week … Friday

Some weeks we like everyone feel like our wheels are stuck in mud and we just cannot get out of our own way….

Not this week –

For a late summer, pre-holiday weekend coming down the pike, we had a fantastic week that we were able to share with many of you personally and of course in this venue….

Needless to say the time to sleep from head hitting the pillows for all was very short ..haha

26th Annual Fantastic Holiday Party Neat Venue – Save the Date November 19th 2022 @ 2 pm

Shhhh we are putting the finishing touches (actually waiting for contracts) for our 26th Annual New Never Attended Venue for our Holiday Party!

Sneaky Venue Soon Known – Any Guesses?

Saturday BEFORE Thanksgiving afternoon – November 19th at 2 pm

More details soon! yay

More Spiff to the Office

As mentioned here in our Wall Street’s Angst in Bloated Inventories may be good for MANDATORY needs… we continue with minor updates in celebration of our New Half Decade Lease Commencement …

Post Summer Travels – Happily First of Many

Next week kicks off the first post/late summer travels, happily with many on the horizon as we enter the fall season…

Less hurried travels we might add due to the noted delays with flights …. Lemons into Lemon Aide anyone!

Ahh… today is a Friday heading into a pre-holiday and travels week – Enjoy – Talk next week, maybe even some lighter subjects for our collective reviews!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.



How we bring so many original ideas in this format to you? Back Handed Compliments Accepted …

One of the most backhanded compliments that we receive, mostly from new followers ….No way this is all original information ?


The answer to that is of course yes, spelling mistakes and all,


The follow up question is how do we deliver so much content? Again a very backhanded compliment that makes us smile.


While we’ve talked about this before in slightly different context, as mentioned above with new followers reaching out with these questions we thought it worth another review.


The Secret sauce!



This post is being created on a early morning stroll, due to heat restraints here in the south via dictation. The stroll brings out the creative juices, the software allows for easy print. The only problem is that dictation leads to inappropriate syntax that is very close to what the intended word SHOULD be and can be very difficult to spot! From above…mistakes and all!


Sometimes these mistakes sneak by, we call that originality for our posts, and we appreciate those that point outside mistakes, as we are most certainly human as well.


As a funny side note …. this just happened, due to our continued writings, and walks while writing,, we have met an interesting group of fellow walkers, always wondering why the curious speaking to the cell phone!


Please feel free to send us requests or subject matter, if it fits we will certainly broach the subject.


We frequently get requests for guest hosts, which we decline due to usual sales like subject matter from the author. But we welcome subject matter requests from you guys…. for the record you give us the most content from a daily trials and tribulations… THANK YOU!


OK, that’s it, now you know how the sausages made, we hope you enjoy, and liked peering behind  the creative curtain!

Have a Great “How the Sausage is made” Day! 

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.



Clients/Clients Only – No action letters coming to your mailbox – Electronic to paper statement update …

Hello and happy Friday from a far…. The family, friends and pets are still in a cooler climate for one more week!

No Action Letters Coming Your Way

If you have not already received some sort of “No Action“ letter in the mail, be prepared because you most likely will.

Photo by Kate Macate on Unsplash

We do not have any control of these documents….. There is a lot going on with this so we expect continued notifications and apologize in advance for any confusion….

As a regular practice and part of the pending merger that will happen late next year, most all of us will receive some sort of documentation confirming various items such as addresses account numbers SLOA’s (standard standing letters of authorizations.)

Please review these documents at your convenience and let us know if you see anything that needs to be corrected, deleted, or updated. In almost all cases we find that there is no action needed.  But if there is…. The easiest way to “Fix” anything is a joint call with our back office support team…. Lot’s of paperwork is included in some of the letters, but again, a quick call is MUCH easier!

Apologies for the confusion but truly better safe over sorry for our collective safety….

Automatic Electronic to Paper Statement transfers

As mentioned a while back here, with over 95% of you receiving electronic statements a technology upgrade again linked to the pending merger has automatically transferred some of us from electronic to paper statements.

We reached out to many of you, but as technology goes, it’s likely a few slipped through the cracks… Not to worry, we have an easy email template of instructions to correct … thanks Jen!

In the next week we will get a list of those few that were transferred to paper and will be reaching out to each of you with an easy less than one minute fix!

We think/hope this is a very small group as we know the vast majority of you hate paper statements and we will correct it quickly.

Happy Friday, Talk Next Week!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.



July 2022 Financial Planning and Capital Market Review – Back to Basics Tax Return PLANNING – Legacy Health Coverage – Feds Pickle – Yield Curve Inverts – By John Kvale CFA, CFP

Hello and Welcome to our July 2022 … Financial Planning and Capital Market Update!

If you are too busy to read, feel free to listen as we describe our post and thoughts in friendly podcast audio format as well as Video!

Newbies –

We like to articulate our thoughts and review on a Monthly basis our Financial Planning Tips, Capital Markets thoughts and current events!

Hope you enjoy!

July 2022 Video


Financial Planning Tip(s)

Back to Basics Series – Income Tax PLANNING

In our final fun “Back to Basics” review we discuss Tax PLANNING….

From the post:

Coincidentally, the most important part of Tax Planning is the second word in the subject, Planning!

As we individual or corporate tax payers traverse the tax year, it’s important to take note of unusual events that may be occurring. We’re certainly not saying you have to worry about this every minute of the day, but should you have an unusual increase in income, or decrease in income, this should be thought about before the end of the year for your tax planning.

Later in the post we discuss the key items in reviewing your return as well….. in step by step format!

Legacy Health Coverages

After running into several situations of legacy health care options for long time former employees… Here in this post we outline the possibilities of bridge Health Coverage from legacy companies and how fantastic of an option this can be…

In almost every situation, the key is these plans are not easily discovered. In order to find out if you have an option, it’s best to dig out contact information from HR of your old employer and reach out to them directly.

This is an expense to your former employer, so it would be expected not to receive multiple information regarding such a plan, but if available it could greatly help in bridging the gap for Medicare should we be in the situation of needing coverage before age 65. 

Capital Market Comments

Bond Market turns Upside Down – The R Word

After the second negative GDP print … see next note of Fed’s Pickle…. the bond market really began to price in the R Word…. Here in this post we discuss the inversion of long bonds to short and their meaning…

The Fed’s Pickle

In this post, BEFORE the actual GDP announcement, we discussed the Fed’s pickle, with a hot economy (CPI inflation holding tight) BUT an economy that is slowing …..even qualifying as the R Word now – Recession!

From the BLS release after our post :

Q2 2022 (Adv)-0.9%
Q1 2022 (3rd)-1.6%

Real gross domestic product (GDP) decreased at an annual rate of 0.9 percent in the second quarter of 2022, following a decrease of 1.6 percent in the first quarter. The smaller decrease in the second quarter primarily reflected an upturn in exports and a smaller decrease in federal government spending.

The definition of recession is negative two quarters GDP….

Have a Great Day, Talk to You at the End of August!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.