Wednesday, May 13, at 6:00 p.m.
The quarantine has been long and many are eager to get back to frequenting our favorite restaurants. Because some may not be ready to dine out when places begin to reopen, we thought to bring a Chef inspired meal to your home kitchen! So, please join us for an evening you will not soon forget!
We’ve teamed up with Summit Grill Restaurant Group to present Cooking for a Cause KC, a free interactive cooking event on Wednesday, May 13, at 6 p.m., to enjoy each other’s virtual company and raise awareness for the Kansas City Regional COVID-19 Response and Recovery Fund.
Cook with us
Cooking for a Cause KC is a live, hands-on virtual cooking event where you can cook alongside Chef Conrad. He will teach you how to make a Summit Grill favorite, Grilled Spring Vegetable Salad with Poppy Seed Dressing, accompanied with Herb Marinated Shrimp or Chicken, and a signature Black & White Margarita.
Register for the online event and receive a list of ingredients to prepare your shopping list, along with exclusive access to the big event!
Spread the word
Share our event registration link with your friends, neighbors, and family members so they can join you for this truly unique experience – the more the merrier!
Helping those in need
Together, StrongBox Wealth and Summit Grill have identified the Kansas City Regional COVID-19 Response and Recovery Fund as a beneficiary for the virtual event. The fund is a joint effort between Greater Kansas City Community Foundation, United Way of Greater Kansas City, LISC Greater Kansas City (Local Initiatives Support Corporation), and the Mid-America Regional Council (MARC) in response to the COVID-19 pandemic to address critical needs of the Kansas City region’s most vulnerable communities.
Should you wish to learn more about the Recovery Fund, please see growyourgiving.org/covid. If you feel compelled to make a tax deductible donation, a secure page is found at gkccf.kimbia.com/kans59. StrongBox Wealth will match the first $2,500 in donations
We hope to “see” you next week!
In response to the coronavirus (COVID-19) pandemic, lawmakers have passed a bill titled The Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 28, 2020, in an effort to reduce the economic and health related impact of the virus.
Included in the law are a few temporary adjustments to IRAs and retirement plans. Most notably:
Required Minimum Distributions (RMDs) are suspended for 2020
For individuals who have not taken their RMD for 2020, you are not required to do so. Before year-end, we encourage you to have a discussion with us on what strategy is most appropriate given your income level, liquidity needs, and tax circumstance. Potential options include:
|Do Nothing||Lower 2020 taxable income|
|Withdraw +/- IRA RMD||Realize 2020 taxable income at your discretion|
|Convert +/- IRA RMD to Roth IRA||Create both 2020 taxable income and future tax-free income source|
|Charitable gifts from IRA||Cash flows tax-efficiently realign due to qualified charitable distribution|
Each client circumstance is unique, therefore no one-size-fits-all solution applies here. Only through a strategic discussion can we determine which of these options is most appropriate for you.
For individuals who have already taken their RMD, you will include the distribution in your gross income and pay tax on it as originally expected. However, there is a 60-day window to return the distribution to your Traditional IRA or convert the distribution to a Roth IRA.
We encourage you to contact our office as soon as feasible and schedule an appointment to talk through this temporary RMD suspension with your Financial Advisor.
“Delivering financial advice may be difficult when the chips are down, but that’s obviously when our clients need us most. We shouldn’t confuse our big smart advisor brains with a bull market, as much as we sure cannot preempt a global pandemic’s effect of heavily weighing down client portfolio valuations. Instead, we need to recognize the moment that now is our time to prove value, galvanize relationships, recommit our clients to their long-term financial plans, and remind them that this is what market risk will occasionally look and feel like.”
“With portfolios deployed now during this heightened period of volatility, we fundamentally believe that owning quality matters and being bold about making decisions to remain in abidance with that base tenet does too. Just before and upon the COVID-19 onset, we tactically reduced…”
Serving as a dose of perspective, see chart below on significant U.S. stock market selloffs over the last 30 years and resulting performance a year later.
Enduring the unknown during this downturn can be a challenge. As always, we’re here to discuss any concerns and review your investment plan.
As both anxiety and disbelief rise during this period of crisis, we believe the stakes are high to remain committed to your long term financial and investment plan.
Though capital appreciation is important, so too are stock dividends. Its important to remember that stock dividends historically represent near 30% of the total investment return realized over time from owning U.S. blue chip stocks.
Chuck Cooper, who managed $300 million as part of a team at Wells Fargo Advisors in Lee’s Summit, Mo., has formed a hybrid firm called StrongBox Wealth.
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Wealth advisors Chuck Cooper and Jon Garlow have partnered with Dynasty Financial Partners to launch an independent wealth management firm called StrongBox Wealth, based in Lee’s Summit, Mo.
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Missouri-based StrongBox Wealth joins the ranks of new businesses partnering with Dynasty Financial Partners, and other organizations, as part of a “breakaway” trend of recent years.
Read Article Here