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Five Things to Know This Week

Five Things to Know This Week


We are now in the 3rd quarter of the year everyone wants to end and our investment view continues to remain cautious. Potential market risks persist, with the number one factor being health. Unemployment remains high, virus infections continue to increase, and consumer confidence remains at an all-time low. Global policy and fiscal response to the COVID-19 economic contraction has cushioned the blow and allowed economies to safely restart some of their activities; however, without a vaccine or effective treatment regiment, these policies will have to remain in place and the fits and starts in the economy will continue. Until we see the economic leading indicators improve, we will continue to defensively position our portfolios to weather the uncertainties of this market environment. If you need cash for near-term projects, please let us know so that we can choose the optimal date to sell sufficient funds to cover your cash need.



We know it can be frustrating when we ask you to send us a document through Box and you don’t have a full-function scanner at home. Well, if you have a smart phone, we have an option for you! You can download a scanner app to your smart phone which will convert a photo taken on your phone to a pdf file that can then be directly uploaded to a cloud storage solution like Box, Google Drive, etc. Several apps are free to use and the best app for you depends on how you plan to use it. This is a valuable tool to have and get familiar with as more and more firms are switching to electronic uploads and DocuSign applications.


Most auto insurance carriers have sent their clients rebates for the fact that we haven’t been going anywhere. If you didn’t get a check or a reduced rate automatically, call and request one. If you’re met with resistance, it’s time to change your insurance company. In fact, this is a great time to review your home and auto policies. Apart from the rebate, do you have an active sump pump? As the next hurricane sets up in the Atlantic, please verify that you have a sump pump rider on your policy. If you don’t have one and your sump pump is active, you need to call your homeowner insurance provider to request one. Finally, check your deductibles. For home, we tend to recommend that you have no less than a $2,500 deductible. For your auto, for all cars younger than 7 years, you should have a $1,000 deductible. You do not want to make small claims on accidents. Insurance is protecting the costs you can’t cover. Having higher deductibles keeps your premiums manageable. We are happy to review all of these with you and recommend doing so annually.


This is the hottest time of the year. With so many of us stuck indoors all the time now thanks to the shutdowns, your AC is likely running more than usual. Be sure to replace your filters, clean out your outdoor AC compressor, and seal up any cracks or leaks. A more efficient system means lower energy bills. Check your car, too. Just like checking your home’s AC unit, you want to keep tabs on your car. Don’t let it sit too long without driving it. You don’t want to suddenly need it only to find the battery is dead. Some experts recommend driving your car a few miles a couple of times per month. Regular checks and keeping up with routine maintenance will keep unexpected bills at bay.


Our firm’s ADV Part 3 (Form CRS) is now available and attached to this e-mail for your convenience. Per SEC regulations, Form CRS is designed to help you better understand the services, fees, costs, conflicts of interest, and standards of conduct that apply to our relationship in a succinct format. Both ADV Part 3 (Form CRS) and our full-length Brochure ADV Part 2 are also available free of charge on our website.

As always, we are here as a resource for those that you care about and for. If you are worried that your family and/or friends may have been given improper financial guidance or are losing their hard-earned assets, we are available for a free second opinion or guidance to make sure they stay financially safe. We hope you have a safe and enjoyable summer! We are taking a brief hiatus from our 5 Things e-mails and will resume in a few weeks.

Be well and have a wonderful week!

The Team at 1 North Wealth Services