Category Archives: Clients/Clients Only

Proxy Season is Here – Reminder… We Vote and save the wasted paper for you! Masters Weekend Friday

As we wave goodbye to Tax Season – Almost there – just one more business day!

We say hello to another season.

Proxy Season Remindersvote-1804596__480

As a most common regular practice, we vote proxies for clients. There are multiple advantages of doing this …

  • Your mailbox will not get overblown with massive proxy statements, notices, and voting material
  • Being more green – we get one piece of material for hundreds of you, saving the companies money and helping the environment at the same time
  • Getting the Vote completed – the vote will get cast, frequently a confusing proposition as near all votes are electronic, but after many completions the systems are know

Are you getting Proxy Statements?

If you by chance are getting proxy notices, please contact us and we will resend and reset the directives to have those proxies sent to us in bulk – occasionally proxy votes will revert back to you via new proxy provider or company changes.

Ahhhh…. it’s a Friday, but not just any Friday … a Masters Weekend Friday – Enjoy!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

Q 1 2019 Report Cover

 

No one really knows for sure!

Just like we weren’t certain what caused a hissy fit the last quarter of 2018, no one really knows for sure why everyone became so happy this quarter. Needless to say, we think this is a more normal reaction and possibly a reversion to the mean from the hissy fit.

As mentioned in our Q2 2019 Newsletter, capital markets could have been protesting higher interest rates – or as mentioned in one of our most read posts at Street-cents.com, it could have just been that it was amateur hour and movement during a Gentleman’s agreement no movement time was exaggerated. No matter the reason, capital markets have a happier face.

Inverted yield curve

Just as we pushed the Q2 Newsletter off to the presses, the yield curve did officially invert – as a reminder, yield curve inversion is when short term interest rates are higher than long term rates, which occurred in the last five days of the quarter. The reason we, as well as many other in the industry crow about this unique situation, is it has been a precursor to recessions with great accuracy.  Before taking shelter and hiding under the covers, this precursor has no accuracy on the depth, and very little accuracy on the timing of a recession.  In some instances a recession occurred two years after the inversion.

Recession Definition

As mentioned again in our Q2 Newsletter, the definition of a recession is two consecutive negative gross domestic production – GDP prints – yes that could be – .01% and -.01% making for a mini-mi recession, but still a recession. No matter, just as you can’t be partially sick or partially have an accident the inverted yield curve did occur. As such we will be monitoring the situation very carefully and remembering that now, is not the time to be taking extra risk.

Interest Rates

Given the yield curve inverted, no steep inflation signals are occurring, and the economy is growing, but not red hot, it is likely we have seen the highest short term rates for a while. Fed officials seem very comfortable at the current level. As more data is recorded, things can change.

We will talk to you again in the summer, have a great day!

John A. Kvale CFA, CFP

 

Why We don’t like to Move Money on Fridays – Break In – Inverted Yield Curve Update

Break In – On Friday the Yield Curve Inverted for about three hours – we have spoken at length on this subject, but want a little more time to see market participants reactions as well as Fed officials before making a current update.

As a reminder the Inversion of the Yield Curve has a strong recessionary signal some time in the future, frequently years in advance –

Friday’s inversion triggered a series of sell programs that clearly did not do their homework on the possible eventual timing of a recession.

With a Newsletter already in print – coincidentally we had much talk about recessions, and even a definition. The two hour inversion did mess our Newsletter up a bit as until Friday it had not inverted – we will update you more with clarity soon!

Back to our regularly scheduled program/post…

Why we don’t like to Move Money on Fridaysfriday-1270362__480

As a weekend nears, specifically Friday … many’s favorite day of the week, we tend to dislike the movement of funds.

The reason is two fold:

  1. If something goes wrong, the weekend can be/seems long to determine a correction
  2. Skeleton crews frequently man the ship on Friday’s- especially during the summer

Our absolute least favorite movement of funds is sending to all new instructions on a Friday – we rarely do this – and never do before a long/holiday weekend!

There are of course times that money just HAS to move on a Friday, such as the closing of a home (in an abundance of caution, we frequently send funds on Thursday) or a last minute quick fill up of cash.

Regularly scheduled deposits are fine as the calendar determines this and being on such a regimented event, trouble is less likely.

Deposits or draws as we like to call them are a different story. When we are pulling funds from another account, we see the flow of funds from our end and can easily Shepard/see problems.

In a safe over sorry posture, look for us to recommend Thursday or our favorite day, Monday, for the movement of unscheduled funds.

Have a Great “No Friday Money Movement” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

Calling all Questions for Our Social Security Specialist – Saturday April 27 at 10:00 am at Dallas Athletic Club – Friday

Here are our questions so far- but we want more – keep them coming!

  1. Last time we spoke you were VERY certain Social Security would be there for all of us upon retirement – With all of the changes, do you still feel this way?
  2. Can you explain the divorced verses divorced and remarried benefits?
  3. Have you ever heard of someone being offered a lump sum of retroactive Social Security benefits?
  4. November of 2015 ushered in new laws and changes, are there any neat techniques that survived?
  5. Can you explain non US citizen spousal benefits?
  6. We have been told many of the benefit statements are not always accurate, understating the actual eventual benefit, has this been your experience?
  7. How much can I earn and not receive penalties if I retire before my full retirement age?
  8. The Full Retirement Age keeps being pushed out, will this continue? Is there a schedule?
  9. How long do I have to report my Social Security earnings if they were not reported by an employer?
  10. For many years I did not draw on an ex spouses earnings by accident – using only my earnings benefit, can I request some sort of look back to get my full benefits?
  11. If want to change my Social Security election decision after I made it and have been drawing benefits, Can I do that?
  12. Do I have to take Social Security Benefits ? What if I do not want to?

Send questions to jen@jkfinancialinc.com – We welcome any and all!

Here is the invitation – We hope you can come !

 

3-20-19 - Invitatation to SS Info Event with Tom Clark_Page_1

 

Here is Tom Clark’s Bio and mug shot – SUPER nice guy!

 

3-20-19 - Invitatation to SS Info Event with Tom Clark_Page_2

Have a Great “Send us your Social Security Questions” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

SLOA – Standing Letter of Authorization Mailing Heads Up Reminder (Clients)

New regulations now mandate a letter be sent to us all reminding us that we have SLOA’s or Standing Letters of Authorizations on File!

The SLOA –writing-1149962__480

On Friday March 15th, 2019 reminder letters were mailed to us all for any standing instructions for linked accounts – Almost all of us have a linked account from our Investment to a checking, savings, working cash account of some type. So expect a letter stating such!

Due to new regulations – for all of our collective safety, this letter is now mandated as a reminder that we have these linked accounts.

Also, partially due to new regulations, if we have a linked account that is not used for two consecutive years — just like frequent flyer miles, they will go away!!

Have a Great “Ready for SLOA Letter” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

Save the Date – Back by Popular Demand – Tom Clark our Social Security Specialist – Saturday 10 am – April 27th at DAC Dallas Athletic Club – Personal Video Invitation

About four years ago, we had a fabulous speaker, Tom Clark who has multiple decades of experiences at the Social Security Administration as an expert lecturer….

In November of 2015 new laws dramatically changed (limited) many of the Social Security techniques and benefits.

With a few more years under our belts and the change of laws, we wanted to bring Tom back in for an update, refresher, complete analysis of what is happening now, and what may lie ahead for that ever so important benefit, Social Security!

Save the Date

April 27, 2019

Dallas Athletic Club

10:00 AM

MEET TOM CLARKTom Clark Pic

After 33 years of service at the Social Security administration, Mr. Clark now has a second career, spending time with groups like ours, helping them become educated in making the correct decisions and informing them on the intricacies of the Social Security and Medicare System.

Not to worry, Mr. Clark’s last years at the administration found him doing over 300 of these type of events per year.

Questions?

We will be doing a multi-part complete analysis of Tom’s discussion after the event here at street-cents.com, but please send us questions NOW to formulate a list for Mr. Clark to be asked at the event!  Send to jen@jkfinancialinc.com

Here are some questions we have already begun accumulating – just to give you ideas:

  1. Last time we spoke you were VERY certain Social Security would be there for all of us upon retirement – With all of the changes, do you still feel this way?
  2. Can you explain the divorced verses divorced and remarried benefits?
  3. Have you ever heard of someone being offered a lump sum of retroactive Social Security benefits?
  4. November of 2015 ushered in new laws and changes, are there any neat techniques that survived?
  5. Can you explain non US citizen spousal benefits?
  6. We have been told many of the benefit statements are not always accurate, understating the actual eventual benefit, has this been your experience?

That should give you some good ideas, but we want more – bring em on and we will get them to Mr. Clark in advance, post here as a summary – and after the event, give a detailed direct answer!

Have a Great “Soon to be informed Social Security” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

1099 Update – Corrected Update – Reminder, a Paper Copy is being mailed UNLESS you specifically turned it off – Holiday Weekend !

Those that follow us know we had a fun conference last week and pretty much burned the candle at both ends… We look forward to bringing you more soon!

Being the last of the four in my gang to NOT get the winter sore throat or flu… and after bragging about not getting sick AT ALL the last four years, those three fingers pointing back at myself came home to roost… GIANT head ache Saturday followed by sandpaper in my throat Monday morning… on the down hill side now….

Corrected 1099 Update1099 sho

Yesterday we sent a blast email out to all of the lucky ones who will be receiving a corrected 1099 printed and mailed one week from today …

If you did not receive the email, so far you are in the clear….

EVERYONE will receive a paper copy of their 1099 – even if you receive electronic copies of everything else – unless you specifically turned your tax copies off – no one we know of has done this and this is the one item we do not recommend you turn off unless you REALLY want to!

Holiday Weekend

Today is Friday, heading into a Presidents Day Weekend – you know the drill … banks, capital markets and those buildings holding our little ones hostage during the day will be closed on Monday – mandating our offices are closed as well… all good, again!

Have a Great “Presidents Day Weekend” Friday!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents