I hope you were able to sit back and relax this past holiday weekend, despite the heatwave. This week has been nothing less than eventful with fires raging throughout Western states, OC opening back up, vaccine hiccups, and NFL back in play.
As if fighting the Coronavirus wasn’t enough, now there are over 13 Western states fighting fires. More than 5300 square miles have burned from more than 90 fires. This is only the beginning of fire season and California has already set a record with nearly 2.5 million acres burned this year. We are praying for everyone affected by these fires as well as the firemen and first responders who are on the frontlines working hard to keep us all safe.
On Tuesday, Orange County announced that the county has moved from the more restrictive purple tier to the less restrictive red tier in the state’s pandemic tracking system. This means that the daily average of new cases and the share of tests that come back positive are low enough to allow more businesses and other public places to reopen. With the tier shift, restaurants and movie theaters can now resume indoor operations at 25% capacity, or 100 people, whichever is fewer. Gyms and yoga studios can operate at 10% capacity and museums at 25% capacity. This is such great news and if the county continues its downtrend until at least September 29th it could qualify for the next “moderate” risk orange tier. Good news like this is hopeful, since AstraZeneca, a front-runner in developing a coronavirus vaccine, paused its phase 3 trial in the U.K. due to a patient becoming ill. It is unclear if the problem was related to the vaccine. The company feels that this is a brief interruption and expect to resume trials next week. Even though this is a set-back, it is important and crucial to ensure that a vaccine is a safe and effective product.
The stock market volatility continued this week as Tech stocks gave up some of its gains from the previous day. Yesterday, those same stocks led the rebound, but were unable to maintain the momentum through today. As the election nears, and the headline news events change daily, we can expect more instability for the next several weeks.
You know it is officially fall when football season starts, and tonight is the season kick-off with the Chiefs playing the Texans to a limited number of fans in attendance at Arrowhead Stadium. I know there are many sports fans, my family included, who are looking forward to watching this game. No matter what team you root for, we are all rooting that the season is played to completion.
As we head into the end of the year, there is no time like the present to review and update your estate plan. This includes: Living Trusts, Wills, Health Care Directives, Power of Attorneys, Life Insurance, Home Owner’s Insurance, Umbrella Policies, and Burial Plans. It is always good to prepare for the unexpected, much like 2020. Reviewing your estate plan regularly in addition to major life events will help ensure that it still expresses your wishes. Please call (888) 253-0288 or email your wealth manager to schedule a review and update your financial plan.
We have scheduled another virtual WOW Event for all our ladies out there. The topic is Social Security: With You Through Life’s Journey and will be held on Thursday, October 8, 2020 from 1 – 2:30 PM. Click here to register for the webinar if you have not already done so.
Please continue to stay safe and healthy.