Welcome to 2021! We are still working hard to keep up with Covid safe standards and you all are staying healthy and safe during these uncertain We are here for you, working hard for your finances and doing our best to stay healthy. We hope you enjoy our updates! Look for our quarterly Triangle Times in the future. Want to stay in the loop more often? Follow us on Facebook, LinkedIn or Website to find current updated resources and stories.

Triangle’s Action Plan for COVID-19

With the outbreak becoming more manageable, our Triangle team is taking safety precautions to adjust to the new normal. One of our team members will be in the office from 9 am to 4 pm Monday through Friday. While we are in office, we are taking safety precautions such as washing our hands and using hand sanitizer, wearing masks, and using a plexiglass window at our front desk. We ask that you stay home if you are ill or symptomatic; we are more than happy to have your meeting over the phone, or to reschedule your meeting for when you are feeling better. We are mainly offering virtual meetings, but do offer a limited number of socially distanced, in person meetings to help keep up our staff and clients safe.

Triangle’s Plan of Action:

• We have at least one staff member in office Monday through Friday, 9 am to 4 pm.
• All appointments with Kendra & Lindsey are now virtual preferred. We have limited availability to meet in person.
• Our staff members are keeping their hands washed, wearing masks, and are continuously doing their part to keep their workstations and the office clean.
• If you have something you’d like to drop off to our office, please give us a call to schedule an appointment.

As always, please look for emails, follow us on Facebook and check our website to stay posted on what we are doing. We wish you wellness, and we are here for you.

Triangle Happenings

The Peaceful Planner

Kendra sat down with our client resource management website, Redtail to interview as one of their advisor hero’s. Here, Kendra talks about where she started out at, and follows her courageous journey along the way.

https://corporate.redtailtechnology.com/redtail-advisor-hero-kendra-erkamaa

2020: A Story of Plans Re-Written

As 2020 closes on one of the most transformative years for our country, can we agree that not much as gone as any of us planned? For just about everyone, life and any intentions we may have had for the year to this point have been altered in one way or another.

https://www.trianglefsinc.com/2020-a-story-of-plans-re-written/

SECURE Act

The required age for taking your RMD has changed! This article covers the SECURE Act, which explains the new Required Minimum Distribution guidelines.

https://www.trianglefsinc.com/the-secure-act/

Triangle Updates

Calendly

We have upped our online booking system to Calendly.com! Here, you will be able to easily select your appointment type which available time works the best for you, and include any additional notes. We believe that Calendly will provide an easier way to book online, and hope you will find the experience to be efficient. We will be rolling Calendly out on February 1st, and will post on our Facebook page and website when the link is officially up and ready to use!

Triangle Goal Setting for a New Year!

lFor 2021, the Triangle team decided that we were going to work towards achieving our goals. In doing so, we began this journey  by working with Powersheets and setting up our goal planners. The Powersheets Cultivate planner helps guide us to uncover what goals that matter, make an action plan, and then live it out with confidence.  One thing that our goal planners help us define is our “word” of the year.  Let’s see what our Triangle team members chose as their word, and what that word means to them…

Kendra

My 2021 word is Cultivate. This is a focus on tending to processes to consistently deliver on outstanding customer service and be in a position to grow.

Lindsey

My 2021 word is Bloom. This is a focus to nurture, grow and tend to various relationships in my life into something beautiful. I also feel bloom allows for the ups, downs, and setbacks one might experience during this process.

Aurora

My 2021 word is Powerful. This is a focus towards my inner strength. This word helps me to keep going, through all of the busy days of being a mom and a full-time student, as well as giving me the confidence to succeed in my work and daily life. 

Maddie

My 2021 word is Grow. This is a focus on self-expansion. This word reminds me that I should not expect perfection, and that as long as I am growing and learning, I am on the right track. This is applicable to all areas of my life. 

If you are interested in looking into a Powersheets planner, we have included their website link here!

Securities and Advisory Services offered through Harbour Investments, Inc. Member FINRA/SPIC

The Fear Factor – Making Smart Choices in the Face of Fear

Even the most fearless among us have been faced with uneasiness over the last few months. With an unprecedented global pandemic facing the entire world, it would be nearly impossible not to consider the “what ifs” invading our senses posed by the COVID-19 virus. Right now, it’s important to remember that fear is a natural condition of our human experience. Whether you face the emotions of fear frequently or you make little room for doubts and anxieties in your life, fear exists for a reason.

How much attention should we give to fear? It depends. Have you ever tried teaching a child not to do something – for example, not to touch a hot stove – only to find out that regardless of how many times you warned them, they had to accidentally touch it to understand why they shouldn’t? Fear, brought about by the actual fear of consequences, causes us to pay attention sometimes when little else will.

Unfortunately, the problem many adults face is that as we mature and deal with more and more fear, we grow more to fear most the fear itself. We can become so afraid of feeling fear, that we stop even trying to figure out the source of that fear and the ways to move beyond it.

I’ll admit, I was triggered to think through this fear thing as a financial planner while helping clients handle their investments through this pandemic. It’s no secret that the market’s been volatile, and my team has been very busy fielding questions on how to manage finances right now. It got me thinking about the decisions we make at the height of fear, thinking we’re doing something good in the heat of the moment. It can be hard to imagine that there are times when purposely doing nothing can actually be the best choice.

I’ve had the opportunity to observe different personality types and their responses right now in the face of uncertainty. I can say with confidence that the people who do not take extreme measures with their investments as a knee-jerk reaction are seeing more favorable results. In fact, this is a key time to keep an eye on your goal. If you’re embarked on a journey to the top of a mountain and put fear in the driver’s seat, you’re more likely to make sudden reactive decisions and drive right off the cliff. Whereas staying the course, and steadying your nerves understanding the bigger plan, you are more likely to continue on confidently to enjoy the views at the peak.

I’ve always been a proponent of identifying and using your own powers of choice – and if there was any time to practice making informed choices, it’s now.

How to move through fear with perspective when facing financial threats:

1. Be curious. Curiosity leads to questions, and questions lead to information. What is the threat to you? What are the levels of negative consequences you could experience? How likely are you to experience these – realistically? I’m not suggesting you minimize the threats – just gather the facts and be realistic. Then assess how to be prepared.
2. Understand what you can control. Much of fear is born of uncertainty. You can’t know, or control, everything. But you can pay attention to your thoughts, actions, feelings and beliefs. The more you understand and prepare for what you fear, the more confident you will feel in yourself and your financial outlook. What more, staying calm allows you to see more clearly the opportunities that may appear – opportunities for new or continued growth.
3. Stay connected. While this outbreak has created more distance between us physically, I’ve noticed more efforts to stay connected through the power of technology and other creative endeavors. We all have a LOT of questions, and we depend on others for reliable answers. Be sure to connect with those who provide you with trustworthy advice. Most everyone is just a phone call away right now.
4. Take action – but do so rationally. Maybe you didn’t have 6-12 months of expense savings to rely on as furloughs swept through your workplace. Or maybe you have realized just how much you spent on daily coffees from the drive-thru now that you can’t go. It’s ok. But start making changes now to better prepare if (hopefully never) another dire situation arises. If you’ve realized you aren’t prepared for a major life or job emergency, now’s the time to talk to someone about how to change that – and then start doing it. Don’t find yourself saying, again, “I wish I had been better prepared.”

Again, the greatest asset we have in creating our financial future is the power to choose. Choosing to understand and even prepare for fear helps you to move through it more easily, making room for new and continued growth.

Until next time, I wish you health and happiness.

Kendra Erkamaa

Securities and Advisory Services offered through Harbour Investments, Inc. Member SIPC & FINRA.

Past Performance doesn’t guarantee future results.

The SECURE Act

Long-established retirement account rules change.

The Setting Every Community Up for Retirement Enhancement (SECURE) Act is now law. With it, comes some of the biggest changes to retirement savings law in recent years. While the new rules don’t appear to amount to a massive upheaval, the SECURE Act will require a change in strategy for many Americans. For others, it may reveal new opportunities.

Limits on Stretch IRAs. The legislation “modifies” the required minimum distribution rules in regard to defined contribution plans and Individual Retirement Account (IRA) balances upon the death of the account owner. Under the new rules, distributions to non-spouse beneficiaries are generally required to be distributed by the end of the 10th calendar year following the year of the account owner’s death.¹

It’s important to highlight that the new rule does not require the non-spouse beneficiary to take withdrawals during the 10-year period. But all the money must be withdrawn by the end of the 10th calendar year following the inheritance.

A surviving spouse of the IRA owner, disabled or chronically ill individuals, individuals who are not more than 10 years younger than the IRA owner, and child of the IRA owner who has not reached the age of majority may have other minimum distribution requirements.

Let’s say that a person has a hypothetical $1 million IRA. Under the new law, your non-spouse beneficiary may want to consider taking at least $100,000 a year for 10 years regardless of their age. For example, say you are leaving your IRA to a 50-year-old child. They must take all the money from the IRA by the time they reach age 61. Prior to the rule change, a 50-year-old child could “stretch” the money over their expected lifetime, or roughly 30 more years.

IRA Contributions and Distributions. Another major change is the removal of the age limit for traditional IRA contributions. Before the SECURE Act, you were required to stop making contributions at age 70½. Now, you can continue to make contributions as long as you meet the earned-income requirement.²

Also, as part of the Act, you are mandated to begin taking required minimum distributions (RMDs) from a traditional IRA at age 72, an increase from the prior 70½. Allowing money to remain in a tax-deferred account for an additional 18 months (before needing to take an RMD) may alter some previous projections of your retirement income.²

The SECURE Act’s rule change for RMDs only affects Americans turning 70½ in 2020. For these taxpayers, RMDs will become mandatory at age 72. If you meet this criterion, your first RMD won’t be necessary until April 1 of the year after you reach 72.²

Multiple Employer Retirement Plans for Small Business. In terms of wide-ranging potential, the SECURE Act may offer its biggest change in the realm of multi-employer retirement plans. Previously, multiple employer plans were only open to employers within the same field or sharing some other “common characteristics.” Now, small businesses have the opportunity to buy into larger plans alongside other small businesses, without the prior limitations. This opens small businesses to a much wider field of options.¹

Another big change for small business employer plans comes for part-time employees. Before the SECURE Act, these retirement plans were not offered to employees who worked fewer than 1,000 hours in a year. Now, the door is open for employees who have either worked 1,000 hours in the space of one full year or to those who have worked at least 500 hours per year for three consecutive years.²

While the SECURE Act represents some of the most significant changes we have seen to the laws governing financial saving for retirement, it’s important to remember that these changes have been anticipated for a while now. If you have questions or concerns, reach out to your trusted financial professional.

Kendra Erkamaa

(515)282-8962

Kendra@TriangleFSINC.com

Lindsey Taylor

(515)282-8962

Lindsey@TriangleFSINC.com

Jessica Dillon

(515)282-8962

Jessica@TriangleFSINC.com

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

«RepresentativeDisclosure»

Citations.

1. waysandmeans.house.gov/sites/democrats.waysandmeans.house.gov/files/documents/SECURE%20Act%20section%20by%20section.pdf [12/25/19]
2. marketwatch.com/story/with-president-trumps-signature-the-secure-act-is-passed-here-are-the-most-important-things-to-know-2019-12-21 [12/25/19]

Key Provisions of the CARES Act

Distributions can be waived in 2020 for Inherited Accounts, 401(k)s, andIRAs.

Recently, the $2 trillion “Coronavirus Aid, Relief, and Economic Security” (“CARES”) Act was signed into law. The CARES Act is designed to help those most impacted by the COVID-19 pandemic, while also providing keyprovisions that may benefit retirees.¹

To put this monumental legislation in perspective, Congress earmarked $800 billion for the Economic Stimulus Act of 2008 during the financial crisis.¹

The CARES Act has far-reaching implications for many. Here are the mostimportant provisions to keep in mind:

Stimulus Check Details. Americans can expect a one-time direct payment of up to $1,200 for individuals (or $2,400 for married couples) with an additional $500 per child under age 17. These payments are based on the 2019 tax returns for those who have filed them and 2018 information if they have not. The amount is reduced if an individual makes more than $75,000 or a couple makes more than $150,000. Those who make more than $99,000 as an individual (or $198,000 as a couple) will not receive a payment.¹

Business Owner Relief. The act also allocates $500 billion for loans, loan guarantees, or investments to businesses, states, and municipalities.¹

Your Inherited 401(k)s. People who have inherited 401(k)s or Individual Retirement Accounts can suspend distributions in 2020. Required distributions don’t apply to people with Roth IRAs; although, they do apply to investors who inherit Roth accounts.²

RMDs Suspended. The CARES Act suspends the minimum required distributions most people must take from 401(k)s and IRAs in 2020. In 2009, Congress passed a similar rule, which gave retirees some flexibility when considering distributions.^2,3

Withdrawal Penalties. Account owners can take a distribution of up to $100,000 from their retirement plan or IRA in 2020, without the 10-percent early withdrawal penalty that normally applies to money taken out before age 59½. But remember, you still owe the tax.⁴

Many businesses and individuals are struggling with the realities that COVID-19 has brought to our communities. The CARES Act, however, may provide some much-needed relief. Contact your financial professional today to see if these special 2020 distribution rules are appropriate for your situation.

Kendra may be reached at 515-282-8962 or Kendra@trianglefsinc.com or Lindsey@trianglefsinc.com www.trianglefsinc.com

The first quarter of 2020 has come to a close and wow has it been a wild one. We are hoping you all are staying healthy and safe during these difficult times. We are here for you, working hard for your finances and doing our best to stay healthy. Hope you enjoy our updates! Look for our quarterly Triangle Times in the future. Want to stay in the loop more often? Follow us on Facebook, LinkedIn or Website to find current update resources and stories.

Triangle’s Action Plan for COVID-19

The outbreak and response to Coronavirus Disease 2019 (COVID-19) is new for all of us. We at Triangle are doing our best to continually be up to date and aware of what is going on in the markets as well as in our state and city. At this time, there is no known immunity to the virus, therefore the actions we take can impact the vulnerable populations and reduce potential spread of the virus. We at Triangle took the time to set up a plan of action to better serve our clients.

Triangle’s Plan of Action:

• All of our staff are set up to work remotely and will continue to be able to provide you with service, provided the health of our staff is well.
• All appointments with Kendra, Lindsey and Jessica are now virtual only. We have two options to meet virtually, through Zoom meeting OR via phone call.
• This is temporary and we are confident we will make it past this.

As always, please look for emails, follow us on Facebook and check our website to stay posted on what we are doing. We wish you wellness, and we are here for you.

Articles

CARE Act

The CARE act that passed on Friday changes some IRA & Retirement plan rules! Including no RMD requirement for 2020, extension of IRA contributions to July 15 and waiver of some penalties from retirement plans. Check out this link to learn more:
Read more on Forbes

Market Volatility

We are experiencing some of the most dramatic days in the financial markets in recent history. Here are key data points from the recent market movements well as key investment fundamentals to remember as we navigate through this volatility.
Read more on Market Volatility

SECURE Act

Congress passed the SECURE Act at the end of 2019. One provision will help small businesses offer employees a retirement plan.
Read more at Yahoo Finance

Recent Events at Triangle

“Celebrate Good Times” Event
On January 21st, we held our annual Triangle Financial dinner. It was held at the River Center in Des Moines. There, we premiered a video to the guests that were in attendance. Please take a moment to enjoy the video by clicking on the link below.
https://youtu.be/Zx-OYQpSTwE

Staffing Updates

Our team continues to be strong and flexible during these uncertain times. It is with a heavy heart that, I want to share a change to staffing. Due to unforeseen circumstance, Miaja has decided to focus on her studies and no longer able to work. For us, her presence will be greatly missed as her contribution and passion was so influential to our business. I know she enjoyed connecting with so many of you. We are currently picking up with more hours from the rest of the team for right now. We do expect to look for a para planner when the virus has passed. Change is certainly life and we chose to grow because of it.

What’s happening in our lives…

 

Kendra –
With our family at home we have gotten in a work/study routine that offers frequent stretch and snack breaks. We are finding ways to support our favorite local small businesses with one of our favorites sending out cards & little gifts. We just set up a Zoom Conference call for Easter for the whole family! So, we can virtually eat together for the holiday. Here is to finding joy in new ways!

Lindsey-
Adjusting to working from home with a preschooler and a toddler has been a challenge, but we are enjoying spending more time together & finding ways to celebrate birthdays and holidays with friends and family. We’ve been enjoying the nice weather with long family walks and lots of backyard play time! I hope you are able to enjoy the nice weather too!

Jessica-
In addition to serving clients and juggling new homeschool responsibilities, I am currently enrolled in the Certified Private Wealth Advisor® program through The University of Chicago BOOTH School of Business with expected designation in July.

 

Aurora-
Aurora has been adjusting to working from home with her 2.5-year-old daughter. Thankfully, she is serenaded with Frozen I or II songs daily, and has a whole new collection of art pictures hanging on her fridge. A couple times a week, Aurora is able to take her daughter on an adventure to pick up mail for Triangle, and get some fresh air outside of the house.

 

 

Securities and Advisory Services offered through Harbour Investments, Inc. Member SPIC