Each year we try to take the time to recap the events, good and bad, that took place during the year. In the time warp that is 2020 we had the following:
- The SECURE Act went into effect, changing the RMD age and stretch IRA rules among many others.
- Donald Trump was impeached but was later acquitted.
- The United Kingdom formally withdraws from the European Union.
- COVID-19 reared its ugly spikey head, shutting down countries worldwide.
- The Federal Reserve pumped trillions of dollars into the markets in an attempt to stabilize the economy.
- The CARES Act was passed providing small business loans, stimulus payments, debt forgiveness and the suppression of 2020 required minimum distributions.
- We experienced the largest decline in the market since the financial crisis, which was largely erased just three months later.
- The U.S. officially entered a recession in February, ending the longest expansionary period in U.S. history.
- NASA and SpaceX work together to launch the first manned space mission on U.S. soil since 2011.
- Millions join in protests against racism and police brutality.
Man, it has been a crazy year and I for one look forward to 2021, being right around the corner… wait what? It’s only June!? That is more than your average years’ worth packed into the last six months.
2020 really is in many ways the war of information. We have warned our readers many times about getting caught up too much in the news and losing sight of what is actually important to them. That is a difficult thing to do normally and this year only makes it that much more so. Right now, we are all constantly bombarded with external inputs that play tug of war with our attention and just like everyone else we too have to make sure that we aren’t getting wrapped up in the sensationalism. Media corporations are businesses too after all, and they make money with advertisement views.
So, as we approach the second half of 2020 let’s make a group pact to let go of some of that anxiety that’s kept us glued to the screen for the past 6 months. Let’s take that time, effort and worry and refocus on what we can do to accomplish what we really want to.