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BOSTON | NEWPORT | PROVIDENCE | SHANGHAI | WALTHAMKAHNLITWIN.COM
2021: A Look Ahead -Market Update and Future Tax
Planning Guidance
PERI ANN APTAKER, ESQ., CPA/PFS, CFP®Managing Director
SHAREHOLDER, DIRECTOR WEALTH MANAGEMENT
I look for new and innovative ways to help my clients navigate through their financial choices.
Exceptional client service is about going beyond what the client expects. To be successful, you must always put your clients' best
interest first.
DAVID WRAY, CFAChief Investment Officer
• Market update - Why are we so bullish?
• Tax changes made by the $900B Stimulus Package passed in December.
• Planning for expected tax law changes with the new Congress.
• Q&A – webinar attendees
Agenda
S&P 500 Historical Bull Markets1928 to Present
3/23/2020 -12/31/20
70%
0%
50%
100%
150%
200%
250%
300%
350%
400%
450%
0 20 40 60 80 100 120 140
Bu
ll M
arke
t A
dva
nce
(%
)
Bull Market Duration (Months)
1987-90
1966-68
1970-731962-66
1957-612002-07
1942-46
1974-80
1982-87
1949-56
1932-37
1990-002009-20
Average62 Mos, 183%
2Q 2020
10 Yr. US Treasury Yld Record Low = 0.3%
February 19 Stocks Top
Covid Crash March 23 – S&P down 37%
Unemployment Max Near 15%
Full Economic Re-Opening
VaccinesElections
August Stocks Recover to February Highs
Covid Resurges
3Q 2020
The Economic Cycle – A Covid Projection1Q 2020 - Peak
2Q 2020 Trough
Economic Lock Down
Early Economic Re-Opening
Yield Curve Steepens
US $ Weakens
Massive Policy Response
Monetary - Fed
Fiscal – CARES Act
1Q 2020
4Q 2020
2021 +
Economic Re-Boot Begins
Abundant Fiscal Stimulus
Global Growth Ranging From
0% - 2%
CARES Act 2
2023
Capital Spending Falters
2021-2024World GrowthRanging From3.0% to 5.0%
Consumption “Wobbles”
Employment FallsInflation DeclinesLong Rates Fall
Analyst DowngradesFed Loosens
Yield Curve Steepens
Volatility Picks Up
Eco Acceleration Widely Recognized
Employment RisesVolatility Slows
Yield Curve Steepens
2022
2021
The Classic Economic Cycle – A Look Ahead2024-2025 Peak
2Q 2020 Trough
Earnings RolloverInflationary Pressures BeginLong Rates Rise
Fed Normalizes
Earnings Rise
Dollar Weakens
Abundant Fiscal Stimulus
Fed Tightens
• Summary of Year-End Coronavirus Relief Act [Cares Act 2]
• Cares Act 2 Life Insurance Changes
• Changes to the Required Minimum Distribution Life Expectancy Tables
• Potential Tax Changes in a Biden Administration
We’re Here.
Peri Ann Aptaker, Esq., CPA/PFS, [email protected]
David Wray, [email protected]
KLR Wealth Management Insights
Free Download:KLR’s Year-End Tax Planning Guides
