Category Archives: Personal

Reminder… No mandatory RMD’s- (Required Minimum Distributions) this year … Finally, Our Most Popular Video EVER, that also is a Family Blooper – HAPPY THANKSGIVING!

After fielding several calls in the last week or so about Required Minimum Distributions (RMD’s) We wanted to remind everyone that due to our current situation all required minimum distributions have been waived for this year.

That does not mean that you cannot take funds out if you have a need or a want. This also does not cause us to have a double distribution next year, pretty much the best of both worlds, elective distribution if desired not mandatory if not wanted!

HAPPY THANKSGIVING Blooper

The most popular video ever was one that was literally almost a comedic uncut repeat attempt when the kids were much younger

Here is what they look like today…

Here is what they look like then, with your authors best attempts of trying to do a serious video – What eventually happened is an upload of all of the attempts much like you would see at the end of a movie or blooper!

Hope you enjoy likely the last year that we will show this, but we’ve said that for the last two or three years just too much fun especially given my seriousness and their lack of seriousness!

HAPPY THANKSGIVING

John A. Kvale CFA, CFP

Last Year the Perot Museum, Next Year Dallas Athletic Club, This Year No Holiday Party, Staying Safe

Last year we had the 24th Annual J.K. Financial, Inc. Holiday Party at a place that we had always desired to go but the newness and the cost of that newness had prevented us.

Finally an early date allowed us the ability to have the Annual Holiday Party at the much desired Perot Museum. Little did we know that we would not be having a party this year making last year‘s memory all the more special.

For the safety of our selves and of others we are not having a party this year.

We know that that may disappoint some but out of an abundance of caution and being conservative in all facets of what we do, we are not going to have the holiday party this year.

The good news is as we will certainly have a wonderful and much appreciated party at Dallas Athletic Club if possible next year!

True to many things in life we grow to appreciate them much more when they’ve been snatched from us. We look forward to the exhaustion that follows visiting with everyone and seeing everyone and will embrace the closeness of getting to see everyone like we’ve never done in the past 2 1/2 decades.

Be Safe and We Look Forward to Seeing EVERYONE Next Year!

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

J.K. Financial, Inc. D Magazine Best Wealth Manager Award … John Kvale 14th Consecutive D Magazine Best Financial Planner Award

For those in the Dallas area, you may want to pick up this month’s edition of D Magazine…..

J.K. Financial, Inc. Announced as Best Wealth Manager D Magazine Recipient

This is a peer nomination process and vetting by industry professionals and approved by the editors.

But look carefully on page 35 rather than the center fold as we insisted on going with a different, more casual … and in our minds appropriate picture… and statement.

Not confiding in the more formal picture pushed us to a different section…once again well worth it in our minds.

John Kvale Fourteenth Consecutive Best Financial Planner

It’s an honor to once again be nominated by peers and approved by editors as D Magazine’s Best Financial Planner for the fourteenth time in a row…

Thanks very much and congratulations to my peers who also were nominated.

Wow time flies !

Have a Great ‘D Magazine Honored’ Day and Wonderful Weekend!

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

Finally Taxes are Done … Rob Kaplan Federal Reserve Chair Town Hall Personal Embarrassment …

Whew…. that was easy…. NOT!

Finally we can say goodbye to 2019 taxes … Wednesday Marked the due day for personal Federal Income Tas Extensions.

Luckily (where work and opportunity cross – neat saying heard recently) in the fall of 2019 we went through EVERY taxable portfolio and confirmed tax basis – both reported and unreported to the IRS…. never knowing what this year would bring. This exercise effectively minimized tax documents to one report per account.

Glad we are done!

A Nerd Incident with Robert Kaplan and the Dallas Federal Reserve

On Wednesday of this week, yours truly attended a Virtual Town Hall chaired by Robert Kaplan (pretty big Fan, here is a link to nine articles we have written for those interested).

In true nerd multitasking form, the Zoom meeting started, on the Cell, why not listen while jogging? Cell inserted into runners band on arm and away we go!

Expect comments on the talk, it was very good and interesting…..

Post jog, cell back off runners arm band and onto the couch as the live question and answer session had commenced.

Then this:

Next Question is from John!

Quick glance to the cell and an Unmute flashing button was covering my entire screen! Yikes

“John you must Unmute your device

Twice from the moderator then twice from Robert Kaplan

With no question, the Unmute button was not going to be touched! Finally after what was likely 5 seconds, but felt like 5 awkward minutes, the moderator and Kaplan moved on!

Whew, embarrassing moment averted… or was it!

A question or two later and then this:

“Ok, that was our last question, let’s go back to John and see if we can get his question answered!

Oh No!!!!

This time the Zoom video was shut off before the Unmute logo hit the phone screen….

Can’t make this up!

Hope you enjoyed a nerds chance encounter with Robert Kaplan and maybe even got a chuckle.

Enjoy your Friday, and your weekend …. going to be chilly for the first time in our neck of the woods…. 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.

jkfinancialinc

street-cents

Double Birthday Wishes …. You Cannot Make this Up!

Not sure on the saying, but goes something like ….

Two birds with one stone!

No no, more like this ….

Have Your Cake and Eat it too!

No, how about this ….

Twofer!

Oh ….goodness….

Two For One ?

As a small happily high touch firm, it would not work without you!

Happy Birthday Jen and Donald

Yep, both are on the same day – TODAY!

10k Finished !

Cheers and thanks for everything, you guys are GREAT!

John A. Kvale

Q 3 2020 Cover Letter

As a kid, a frequent saying of my parents were,

“Son even too much of a GOOD thing is still too much!”

While it may sound like we were talking out of the exact opposite side of our mouth, investors looking through the valley to the other side which we had argued for the last two quarters seem to be having too much of a good thing

As discussed in great in our Newsletter for the first time in almost five decades of professional investing, two quarters ago we had to argue positively when everyone was extremely negative and dark clouds appeared to be in the sky, forming our thoughts of looking through the self-imposed valley to the other side where brighter skies may lie.

Fast forward to the present, fear by many has been replaced with greed and a short-term memory of the perils once worried about.  As mentioned once again in our quarterly Newsletter there are similarities to 1999- due to heightened valuations and slight reckless behavior. While prices likely overshot to the downside earlier on in this year it is likely they have overshot to the upside now.

Where do we go from here?

We are not saying things must fall dramatically or an imminent decline is coming, only the opportunity short to mid time frame returns are diminished due to the higher valuations.

Inflation expectations, as measured by the Consumer Price Index (CPI) or the Dallas Federal Reserve’s own adjusted inflation measure, the Trimmed Mean Inflation measure are worthy of our attention as very few expect any inflation at this time.  An increase in either of these measures would be more startling to the Federal Reserve (FOMC) and Capital Market Investors and would certainly present a headwind.

Lastly, as we head into historically the best quarter of the year (led by historically the roughest month), we would argue this is not a normal year and our guards should be up, with slightly thicker investors skin as we head into the end of this year.

Stay safe be well will talk to you at the end of the year!

Sincerely,

John A. Kvale CFA, CFP

Enclosure (2020 Report)

Merger Approved, Expecting Minimal Changes… Multiple Conventions …. Friday

This Tuesday, October 6, 2020 the TDAmeritrade/Schwab merger was approved by the regulators …. it’s a big merger, hence the time for final approval…

As they say, now the real work begins… we expect mostly transparency and behind the scene actions for the next 12-18 months…

Coincidentally and with good timing, the big annual convention is all on line and later this month…. any interesting findings will certainly be shared…

Speaking of convention, ANOTHER convention (NAPFA), we have never attended, has gone virtual … at the end of the month has garnered our attendance as well…

Ahhhh… but today is a Friday, heading into an early October weekend…. nice and cool here, with an injured tennis player, home for a few….

Enjoy and talk to you 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.

jkfinancialinc

street-cents

Newsletter is In the Mail … Full Review Coming Next Week – Hopefully – Out of Town Tennis – Friday

Wow, did the Newsletter come out great – well at least we think so. Jen mailed them out today, so hopefully some good reading for you maybe over the weekend if you are so inclined…..

By the way, if you know someone that may find our newsletter interesting and useful, send us their address, we will add them to our mailing list — yaya, the novelty of a paper Newsletter, call us old fashion, but we are so old fashion we are new– at least we think so – haha – ok digressing again!

Those that received the September review mid week may have noticed the video was not embedded in the email for some reason … inquiry minds want to know and are trying to figure it out… hence the delayed Newsletter review…

Tennis Weekend

Good news … the tournaments are starting up in full force and with a little luck, social distancing and strict following of the rules maybe we can continue – 15 year old is getting closer to 16 and closer to graduation – sophomore…. time goes fast…

Ahhhh, but today is a Friday heading into a wonderful temperature weekend in our neck of the woods….

Enjoy, be safe and we will get that Newsletter Podcast video Review out to you next week, one way or another !

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

Heavy Week Concludes … Month End … Family Favorite Coming … Friday …

With two heavy posts this week, here and here and not only were they heavy, but they were about the FOMC (Federal Open Market Committee), Interest Rates, CPI (Consumer Price Index) and the Trimmed Mean Inflation measures…. Y.A.W.N for many!

Ya Ya we know you guys may not find this stuff as interesting as we do, but we like to at least let you know what we are watching and call attention to some of this so as to know what may or may not change or cause issues… thanks for the reading this week….

Month End Coming

With the afore mentioned heavy posts and month end coming along with two Video reviews shortly (Newsletter and September) we thought we could slide into the weekend as it is a Friday….

Speaking of Month End…. this brings a family favorite into view OCTOBER which means HALLOWEEEN … (over week ago of rats, pumpkins and a Crow that keeps falling of the front rail of the entry at the house already set up for the occasion) – not kidding – ok so yours truly has become fond of the warmer months along with the long days…. but occasionally the guard is let down….. the Mrs. and Myself from a few years ago ….

Hope at least got a chuckle …. Green Make Up stuck around for weeks

Next week, back to heavy … and lot’s to talk about …

Today is a Friday … Enjoy your weekend and see you 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.

jkfinancialinc

street-cents

Social Media Platforms Deep Dive … Chasing The Kids Next App … Good Luck

About one week ago, both kiddos asked me if I knew that TikTok was scheduled to be banned in the United State – Much to their surprise, I did …. What I did not know, was exactly what TikTok did at the time….

Thankfully with a little help from the kids, I now understand what this social media app does…. not really sure of the popularity … but ok

Had no idea, just how big this app was….

With multiple recent office conversations on the subject, timely chart!

Social Media Platforms Size and Analysis

Thanks once again to our friends at Visual Capitalist, here is an excellent chart of the platforms…

Hope there are fellow parents that are better at anticipating where the kids next hot app will be … for monitoring purposes …

Just got familiar with Instagram, kids gone… all about snapshat and the afore mentioned TikTok …

Talk Facebook to a teenager and they will look at you like you have three eyes…. not kidding!

Good Luck Fellow Parent App Chasers….may the force be with you in finding the next hot app they gravitate to!

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