By:  Matthew Theal, CFP® & Joshua Winterswyk, CFP® 

Every Friday afternoon we recap what we are reading and the content we have produced. We hope you enjoy! 

Compared to March, April has started off quite sleepy. Global stock markets ended the first quarter with the worst month since the 1930’s sparking fears of a great depression (doubt that happens).

On the economic front, the news continued to be bleak as millions more Americans filed for unemployment. As for the virus, global cases topped 1,000,000 and the U.S. has over 250,000 cases making our country by far the worst (next closes is Italy with 119,000). We expect the news to continue to be bleak over the next few weeks as the virus continues to spread and the economic conditions worsen.

Here are the best articles we read this week.

Best From the Web

The Rush for $350 Billion in Small Business Loan Starts Friday. Banks Have Questions. – Wall Street Journal

Friday, April 3rd is the first day that Small Bussiness can start applying for the Paycheck Protection Program. The only problem is that as of late Thursday, the Treasury Department and the SBA were still deciding the details of how the program will work. Banks have been waiting for answers and are expecting a flood of applicants as the government is essentially handing out, “free money” to small businesses that apply. Have questions about how the program works? This other Wall Street Journal piece is great. If you want to apply for a loan, I would reach out to your business banker.

If you are looking to calculate by hand how much you can receive, I found this spreadsheet by Permanent Equity useful.

U.S. and Europe Turn to Phone-Tracking Strategies to Slow Spread of Coronavirus – Wall Street Journal 

Coronavirus is working to speed up the move to a surveillance state. As the WSJ is reporting that Western governments are aiming to relax restrictions on surveilling people who have been diagnosed with COVID-19. According to the article, the U.S. government is compiling geolocation data from mobile phones to help authorities predict where the next outbreak may be.

How to Make an Effective Face Mask at Home – Business Insider

Awesome article from Business Insider on making a homemade mask. It’s now been reported the only reason the U.S. hasn’t recommended face masks for all Americans is they are worried there won’t be enough. If you don’t have a mask, use this article to make one and PLEASE STOP GOING INTO PUBLIC WITHOUT A MASK ON!!!

Where America Didn’t Stay Home Even as the Virus Spread- New York Times 

Here is a great data visualization piece from the New York Times. It shows areas of the country that have been doing a good job social distance and areas that have not been listening to the warnings. I will point out that the Southern States in the U.S. have mostly been ignoring the warnings. Also, notice that San Bernardino County is in the top 20 worst counties for movement. This has been a pain point for myself and some of our friends as we have been trying to get our parents to stay home and listen to the orders.

What We Created

Convert a Traditional IRA into a Roth IRA – (Youtube)

Financial Tips for Down Markets: Convert to a Roth IRA – (Blog)