• Nate Baim, MBA, CFP®

Listening and Learning


Enjoy this week's edition of the Planner's Beta


Beta (n) - climber's jargon that designates information about a climb This digest's purpose is to share observations, ideas, and treasures found this week which you may also find insightful. Sharing does not mean it's an endorsement. I am endorsing the pursuit of knowledge and exploration.



George Floyd: How are African-Americans treated under the law? (BBC) - The death of George Floyd is tragic. And his death and the events surrounding his passing evokes many emotions. I have found myself to be angered, confused, sad, and lost over the past week. There are many currents within America's dialogue right now. The problems we face are complex and deeply rooted in history. To build a better tomorrow, we owe it to each other to listen and learn.


Purchasing A Mattress As A Couple

Blending finances as a new couple can be stressful. Watch this video of my experience with purchasing a new mattress with my wife. Figuring out how to combine your finances with your partner is more than just what accounts to setup. It's about becoming aligned in a shared vision with your partner.



The May Jobs Report' Misclassification Error' Explained (PBS) - Collecting and collating data can be difficult. And an excellent example of this is the monthly jobs report provided by the Bureau of Labor Statistics. Last week, the May report communicated results that surprised many market participants. The headline unemployment rate for May is 13.3%. However, given the unique circumstances of the pandemic, it is estimated the real unemployment rate is closer to 16%. The error originates in defining unemployment. Technically, being temporarily laid-off should be classified as unemployed. However, a significant portion of the survey respondents who are temporarily out of work, indicated they were employed. Regardless of what the exact figure is, we can still come to the following conclusions. The first, unemployment is at levels we have not seen since the Great Depression. Second, unemployment for May was less than what investors and many economists expected. The integrity of the information conveyed in the numbers is paramount for policymakers to make well-informed decisions. Washington is currently debating the breadth of another round of stimulus. Joblessness significantly impacts their choices.

Remote-Working From a Different State? Beware of a Tax Surprise (WSJ) - With more people working from home, they may find themselves not working in the state where they typically go to work. The standard rule is that if you physically perform work in a specific state, the work completed in that jurisdiction is subject to that state's income tax (even for a single day). Some states allow for a de minimus of hours worked within their jurisdiction before requiring income tax to be paid (do your research when you file your taxes for 2020). However, expect to see an increase in enforcement from states since many state's budgets will be stretched due to the coronavirus.


Quote of the Week

"Opinions cannot survive if one has no chance to fight for them" -Thomas Mann


 

Click here to subscribe.


Have something on your mind? Schedule a free call with Nate.

 

Pursuit Planning and Investments, LLC is an Investment Adviser registered with the State of Oregon. All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. We may, from time to time, have a position in the securities mentioned and may execute transactions that may not be consistent with this communication's conclusions. Past results do not guarantee future results. Please contact us at 971-803-5948 if there is any change in your financial situation, needs, goals or objectives, or if you wish to initiate any restrictions on the management of the account or modify existing restrictions.  Additionally, we recommend you compare any account reports from PPI with the account statements from your Custodian.  Please notify us if you do not receive statements from your Custodian on at least a quarterly basis.  Our current disclosure brochure, Form ADV Part 2, is available for your review upon request, and on our website, www.planyourpursuit.com. This disclosure brochure, or a summary of material changes made, is also provided to our clients on an annual basis.


Investing involves risk. Past results do not guarantee future returns. This content should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice. The performance of an index is not representative of any particular investment, as you cannot invest directly in an index.