Your Retirement Quarterback® Newsletter, presented by Franklin Retirement Solutions View in browser

Volume 12   Issue 30

July 24th, 2020

What's In YRQ This Week
Peter R. Wechsler

Our Clients Are
The Best

Nicholas Hamner

We Are Now Out Of...

Did You Know

Good Enough &
Not Quite As Good

The IRS has updated its rules for 2020 so that any RMDs taken in 2020 can be returned if completed by August 31, 2020.

Already taken your RMDs and wish you hadn't? Let us know and we'll work with you to fix the problem. 

We Have The Best Clients

by Peter R. Wechsler
Your Retirement Quarterback®

The crazy times continue. I guess we’re kind of getting used to it, just like if you hang from your hands long enough, you get used to hanging. Talk about hanging, these are tough times for many. If Congress doesn’t come up with the next stimulus plan fast, upwards of 25 million Americans will lose their bonus unemployment next week. Soon, their initial 26 weeks will also run out. 

I’ve often said that we have the best clients here at Franklin Retirement. Over these past four months, when I call clients or start a ZOOM meeting the first thing they ask is how I’m doing, how the staff is doing, and how the business is holding up—usually before I can ask them similar questions.

The question I actually get asked most is whether Emily got married, and when I tell them “no” they want to know the new date. August 14th as of now. We’ll see.

For the company, the hardest part is not being able to hold events. We can't do dinner workshops, classes, or lunch & learns at the moment. These programs were the primary way we got to meet new people and how we brought in most of our new clients in the past. Today, it’s mostly referrals and introductions from our existing clients.

Late last week, I had a first Zoom meeting with a client referral. They shared with me how their friends talked about us and about what we do. About how we take a holistic approach to income planning, investment planning, tax planning, healthcare planning, along with estate and legacy planning. All under one roof. These folks I hadn’t yet met were singing our praises based on the friend's introduction.

Do you have friends or relatives who have ended up retiring earlier than expected? Folks who are out of work and not sure if their job will come back? Kids trying to figure out how best to save/invest their 401(k)s or what to do with old ones from previous employers? We can help.

You know us and you know we’ll work hard on behalf of the folks you send our way. Let us know who we can help. Much appreciated.


We're Never Far Away

Whether you need a few minutes on the phone or some time with us in front of your computer screen, we're here to help answer your questions.

We'll resume in-person meetings once we can safely do so.

Phone Meeting
Zoom Meeting

"I wondered why somebody didn't do something. Then I realized, I am somebody."

-- Unknown

Visit Our Friends
Good Enough

Scientist John B. Goodenough was responsible for the creation of random access memory (RAM) and lithium ion batteries, making much of modern computing possible.

Not Quite As Good

Scientist Thomas Midgley, Jr. was responsible for the creation of two major ecological hazards, leaded gasoline and chlorofluorocarbons (CFCs), the first one being Freon. 

We Are Now Out Of...

by Nicholas Hamner
Director of Marketing

COVID-19 has done more than its fair share of damage to the health of those unfortunate enough to contract it, but its many economic side effects have been plenty damaging, too. Besides a near-total retail shutdown, response to the virus has produced a number of unexpected results, the most prominent being product shortages.

Who remembers the initial rush to get hand sanitizer and the videos of folks fighting in a Rite-Aid parking lot over the last bottle of GermX? Toilet paper was a big one, but I think we're over that shortage for now. We're still struggling to find disinfectant wipes, however. Sam's dropped a pallet of store brand bleach wipes while I was shopping there last week—the number of folks that descended on that looked like locusts raiding a field. We've also had meat shortages, a run on above-ground pools and swing sets, and—most recently—a coin shortage. 

Next up on the shortage list? Beer cans. Why? 

  • COVID-related pantry stocking means plenty of folks have stocked up on their favorite beverages.
  • Brewers were forced to convert a lot of product intended for restaurant kegs to consumer-facing packaging, so they used more cans.
  • Beer drinkers have had a lot more free time.
  • Canned beer has seen a resurgence in the last decade as cans preserve flavor/prevent spoilage better than bottles do. AND
  • The rise of White Claw-like seltzer drinks has put a run on the taller, slimmer 12 oz. cans.

What does this latest shortage mean? In the short run, you'll see fewer cans of less popular brands and varieties as brewers focus supplies on more popular lines. No brewer will say what they're cutting or limiting, due to trade secret, but we'll figure it out the next time we're in the distributor shop. In the long run, you'll see an increase in business. Philly based Crown Holdings is a prominent can manufacturer and is in the process of increasing its line capacities. Same with Colorado-based can producer Ball Corp.

Who knows what the next weird shortage will be? I'm putting my money on those little insulated water bottles that look like metal soda bottles. School may be starting back, and every kid is required to have one. I think that's a good bet. What do you think?

Franklin Retirement Solutions

2300 Computer Avenue, Suite J54
Willow Grove, PA 19090

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