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
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