Page 14 - Leisure Living Magazine: May 2020 Edition

Look On The Bright Side Of Life
By Christopher McIntire, President, McIntire Retirement Services www.mcintireretirementservices.com
Let us start by thanking everyone on the front lines of the virus fight: medical workers, truck drivers, grocery workers, and the like. We thank you for keeping the country medicated, fed, and content in difficult times.
I thought I would write about the positives in life since most of us have been watching more news than anyone ever should have to. Once we get clear of the COVID-19 virus and work our way back to normal or the new normal, what are some positives we can take from our experiences during the Pandemic?
First, most of the readers of this magazine are travelers, and planes and cruise ships will be less crowded, at least initially. You would think some incredible travel deals will also be at your beck and call. One would guess the hotel industry would also have some incredible deals on proper- ties around the globe.
Secondly, as a germaphobe of epic propor- tions prior to the virus outbreak, shaking hands and the risk of spreading colds and flu will morph into another type of greeting. This is long overdue in my opinion, especially in winter. Cleanliness will be the mantra at restaurants, on cruise ships, in airports, and on airplanes. For that, I will be forever grateful. My biggest fear at a conference is the buffet spoons that 100 people share in a short time.
Perhaps our doctor visits will be more or-
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derly and on time to prevent crowds. Teleconfer- encing will lessen the long wait periods for very routine visits, freeing up medical professionals to focus more on those who need more examination time and so on.
We will find that working from home is go- ing to be very popular, easing traffic in big cities and saving workers money on gas, wear and tear, childcare, and the like. This is the equivalent of a major tax cut to those who pay hundreds of dol- lars for these services every week.
The historically low interest rate environ- ment will allow homeowners to lower mortgage payments. Again, this is like a tax cut, freeing up more dollars for discretionary spending and im- proving the quality of life for millions of Ameri- cans.
For investors with money on the side, there are opportunities to buy some stocks, mutual funds, and so on at potentially lower prices and be rewarded for buying low, as they say. For those who have money outside of IRA/401k accounts, you may have suffered capital losses. It may make sense to sell and take the loss so you can write them off of future capital gains. Important: please seek proper tax and investment advice prior to acting on any type of investment or tax planning.
One last potential opportunity is to convert an IRA that has suffered from losses to a Roth IRA. You can use the same investment in most cases and allow it to eventually recover and create tax-free income inside the Roth IRA. Again, seek professional tax and investment advice prior to making these types of decisions.
There are always opportunities no matter the environment. You must have your eyes open to see them.
Stay safe, folks! Better days are ahead for America and the World!
Investment advisory services offered through Brookstone Capital Management, LLC. (BCM), a Registered Investment Advisor. BCM and McIntire Retirement Services are in- dependent of each other.
14 |LeisureLiving May 2020
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