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In this episode of the Planned Solutions Incorporated Podcast, The Game Stop Saga has captured headlines and led to hearings and debates about what went wrong. However, we would argue that this is an example of the financial markets behaving exactly the way they should. The hedge fund that took excessive risks reported large losses. The investors that helped police the markets by uncovering this excess profited. The speculators who piled on later lost. The companies that are charged with maintaining the integrity of the financial markets put in place restrictions to avoid a financial crisis. Also, A big part of financial planning is risk management. When it comes to pandemics or natural disasters risk management means planning ahead so that you are prepared for a loss of electricity, lack of access to water, and shortages in food or other necessities. Investing in a disaster preparedness plan may offer a significant payoff if a disaster unexpectedly strikes. And, The SECURE Act shortened the time period that most beneficiaries have to fully distribute an inherited IRA to 10 years. However, there are several exceptions to this rule which allows surviving spouses, minor children of the original account owner, disabled or chronically ill beneficiaries, and importantly beneficiaries who are less than 10 years younger than the original account owner. Those who are less than 10 years younger than the original account owner include those who are older than the original account owner. Plus a look at the Planned Solutions Incorporated Office Bulletin Board-Schwab as well as most other custodians have started issuing the 1099-Div and 1099-B tax forms for non-retirement accounts. In the past, these forms have been corrected in late February or early March to account for changes in the number of qualified dividends. This year Schwab has done a better job of getting all of the information needed before sending out the initial 1099s in early January and mid-February. This should reduce the likelihood of corrected 1099s being issued in March, however, it is still possible that some investors will get corrected 1099s. The problem is that some mutual funds may report corrected numbers to Schwab after the 1099s have been issued which would necessitate a correction. Chase once again volunteered to be the presenter of the Financial Planning Association of Northern California’s Economic Update program. The meeting was held over Zoom which was a change from past years but was still fairly well attended. Chase’s presentation focused on economic and investment themes that often emerge following a recession and market selloff. Chase Armer's book- Financial Planning Insights is now available at: store.bookbaby.com/book/financial-…anning-insights www.amazon.com/Financial-Plannin…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc. ADDRESS: PHONE: 1130 Iron Point Road, Suite 170 (916) 361-0100 Folsom, CA 95630 (800) 750-2111 E-MAIL: FAX: Shannon@PlannedSolutions.com (916) 361-0191 WEB SITE: www.PlannedSolutions.com #finance #invest #investment #stocks #inflation #deflation #bonds