What Businesses Can Expect From the Phase 4 Stimulus Package

Congress is set to begin negotiations on the next round of stimulus. For business owners, new measures could bring more tax relief, renewed access to forgivable loans, and more.

With prior stimulus measures set to expire in the next few weeks and the economy continuing to falter as the pandemic resurges across the country, Congress will meet this week and next to hammer out a new relief measure. 

The House already passed its Phase 4 bill, known as the Heroes Act, in May. The $3.5 trillion coronavirus relief bill would provide assistance to state and local governments, extend enhanced unemployment benefits, and offer additional economic impact payments to taxpayers, among other things. The bill has been up for review since the end of May, though Senate Republicans, who prefer a measure with a far lower price tag, have been loath to consider it. They’re expected to introduce their own version of a relief bill this week that will have to be reviewed and negotiated between the two chambers before theyrecess in early August.

Several economic proposals that will affect small and midsize businesses have been building consensus among lawmakers for weeks, so the final version of the Senate bill could contain elements of all of them.

Here are six things you likely can expect from the Phase 4 bill.

1. The PPP will go on, but in a different form.

The Paycheck Protection Program, the $669 billion forgivable loan program aimed at beleaguered small businesses, will continue, predicts Neil Bradley, the U.S. Chamber of Commerce’s executive vice president and chief policy officer. At the very least, he says, there will be a continuation of the program, which was recently extended through August 8.

It’s also possible the PPP will become more targeted. Testifying at a House Small Business Committee hearing Friday, Treasury Secretary Steven Mnuchin expressed interest in “topping off” the approximately $130 billion in remaining funds and extending the program. But he noted that it would need to be focused on certain industries like hotels and restaurants that can demonstrate actual losses, resulting from the pandemic. “This time we need to do a revenue test,” he said. 

A proposal that has been gaining ground with lawmakers, dubbed the Prioritized Paycheck Protection Program Act, or P4, offers to extend the PPP and open it up to companies that already received PPP loans (excepting for publicly traded companies), as long as they can show financial losses as a result of the pandemic.

There’s been widening support for streamlining the PPP forgiveness process, too. While certain loans are now eligible for the EZ loan forgiveness application, there’s greater interest in easing things further for smaller businesses by automatically forgiving all PPP loans under $150,000 or $250,000. On that note, Mnuchin at Friday’s Small Business Committee meeting confirmed interest in blanket forgiveness. “Yes, that’s something we should consider,” he told lawmakers.

2. Local communities will get a boost.

The next iteration of relief funding likely also will focus on companies in low-income and rural areas, as well as minority-owned businesses, which experienced difficulty accessing the PPP. Bradley notes that the Recharge and Empower Local Innovation and Entrepreneurs Fund (RELIEF) for Main Street Actwould earmark $50 billion for cities, counties, and states to support small business local relief funds. One of the key flaws of the PPP is that it failed to reach the smallest businesses and minority-owned companies that often did not have traditional banking relationships prior to the pandemic. As this program would be run through local institutions–and not banks–the effort is seen as potentially better suited to reach these businesses. While the U.S. Treasury would operate the program, as written in the bipartisan bill introduced in the Senate in mid-May, banks would not be involved.

Funding for block grants, operated by states and local governments, could also get replenished. The Cares Act initially provided $150 billion in federal aid to state and local governments across the country, some of which went toward grant funding for local business. 

3. More tax relief is on the way.

Currently, PPP funds don’t count as taxable income, but an Internal Revenue Service ruling prevented businesses from being able to deduct traditional business expenses paid for by those funds if forgiven. That may change soon. A bill that would allow the deduction with some guardrails, called the Small Business Expense Protection Act, was introduced in the Senate in early May.

The Phase 4 bill also is expected to bolster and expand access the Employee Retention Tax Credit (ERTC), says Bradley. Currently, companies that have tapped the PPP can’t access the ERTC, which was enacted as part of the Cares Act to incentivize businesses hurt by the Covid-19 pandemic to retain employees. As part of a proposal, dubbed the Jumpstarting Our Businesses’ Success Credit (or JOBS Credit) Act, which was introduced in May, the refundable tax credit–now equal to 50 percent of up to $10,000 in qualified quarterly wages–would increase to 80 percent of up to $15,000 in wages each quarter for up to three quarters. Bradley adds that there’s also potential for the ERTC to expand eligible expenses to include a limited amount of fixed costs.

4. Stimulus checks will be back but they may be less generous.

The Heroes Act passed by the House supports another round of stimulus checks that the Cares Act authorized in March for millions of taxpayers: individuals earning under $75,000 would get $1,200, while married couples with less than $150,000 in adjusted gross income would get $2,400. The bill also would provide an additional $1,200 for up to three dependents, regardless of age. 

Senate Republicans are likely to take a more conservative approach to the payments. Last week, White House economic adviser Larry Kudlow said the next round of stimulus checks may be less than $1,200, while Senate Majority Leader Mitch McConnell (R-KY) in early July stated the next round of stimulus checks may be limited to those with incomes of around $40,000.

5. Enhanced unemployment benefits will continue, but get a haircut.

The Cares Act’s enhanced unemployment insurance, which offered an additional $600 per week on top of existing state benefits, is set to expire at the end of July. Many employers found the measure complicated the task of rehiring employees, who were suddenly earning more on unemployment than at their former jobs.

To avoid that issue–but also ensure laid off or furloughed workers have support–Bradley says that lawmakers are considering more targeted subsidies that would vary the amount offered on a federal level to better coordinate with what’s available at the state level. So between the variable federal supplement and those provided by each respective state, unemployment benefits would replace 80 to 90 percent of a worker’s former wages, up to a maximum federal benefit of an additional $400 per week.

The enhanced benefits also may come with a hiring bonus. The Paycheck Recovery Act, proposed in mid-May, offers low-wage workers–those earning less than $40,100 annually–a $1,500 rehiring bonus upon returning to work.

6. Businesses will receive greater liability protections.

Senate Majority Leader Mitch McConnell has made no secret of his desire to see greater liability protections for employers. The details of his approach are still unclear, though Bradley says it’s likely that the Phase 4 bill will allow for some form of safe harbor for companies that make good-faith efforts to follow public-health guidelines.

This article was written by Diana Ransom for Inc.com

How To Use A Legacy Letter

Of course, as part of our Life-Centered Planning process, we will help you coordinate with attorneys and tax experts to create an estate plan that will provide for your heirs in accordance with your last wishes.

But hopefully, after years of planning for a better Return on Life, you’ve come to appreciate what your money can and cannot buy. That’s why we recommend that our clients write a Legacy Letter to help their heirs think about their own relationships to money in more meaningful ways.

What is a Legacy Letter?

A Legacy Letter is a way for you to share your values, life lessons, cherished memories, hopes for your family’s future. It also covers anything else that is really important to you.

This isn’t a will, so you won’t be assigning any of your assets. And this isn’t a family history, although you might include things you learned from your own parents and grandparents that you want your heirs to be mindful of in their own lives. This is you, reflecting on a life well-lived, passing on everything you’ve accumulated that can’t be bought or sold.

One of the great things about this exercise is that your Legacy Letter can be whatever you want it to be. It could be a typed or hand-written letter. It could be an audio or video recording. It could even be a mix, such as a printed list of your most cherished values accompanied by an mp3 you dictate into your phone. Use whatever media makes it easiest for you to speak to your family in your own voice.

What will my heirs want to know?

Some folks look at their kids and grandkids, immersed in their cell phones, and think, “My family won’t appreciate a letter like that, they just want the money.”

But eventually, your heirs are going to confront many of the same life and money challenges you have. They will face the scary prospect of leaving an unfulfilling career. They likely will also wonder how much support to their children is too much. They’ll be tempted to make a big-ticket purchase just to keep up with the Joneses.

Explaining how you did or didn’t stick to your values at these memorable moments will show your heirs that you can’t just throw money at life’s problems. Your Legacy Letter will be a road map leading your family to better decisions and more fulfilling uses of their time and assets. And if your estate plan includes charitable giving, explaining why particular causes were important to you could inspire a tradition of giving in your family that does good for generations.

When should I write my Legacy Letter?

The golden rule of all estate planning is: don’t wait. If something unexpected happens to you or your spouse, it’s so important that you have a plan in place that protects your assets and distributes them as you see fit.

That applies to your Legacy Letter as well. Your values are arguably your most important asset. In years to come, this letter will be a source of comfort and inspiration to your family.

And while this might seem like an activity for a retiree, many of our younger clients have told us that they found writing a Legacy Letter very beneficial. You can write a legacy letter at any stage of life. For example, if you’re getting married, you and your spouse could write a joint letter that describes your hopes and dreams for the future. If your children are launching into their careers, you could share your lessons about succeeding in life. The possibilities are endless. Many clients tell us they’re looking forward to updating their Legacy Letters with more life experiences down the road.

Give it some thought…

If you’re having trouble getting started with your own Legacy Letter, we’d be happy to help you jump-start the process. Make an appointment to come in and revisit or complete some of the Return on Life exercises we have available for you. Your stories and your values are every bit as important to us as your money. Let’s do a thorough review of your legacy planning to make sure you’ve secured the things that are most important to you for the people you love the most.

Trump Signs PPP Extension Bill—Giving Small Businesses Another 5 Weeks

TOPLINE

President Trump Saturday signed into law a bill extending the Paycheck Protection Program—an emergency federal loan facility for small businesses struggling because of the pandemic—for another five weeks until August 8, buying Congress time to figure out what the next round of aid for small businesses will look like when it reconvenes later this month to hash out more stimulus legislation. 

President Trump Holds Briefing At The White House
U.S. President Donald Trump speaks to the media in the briefing room at the White House on July 2.

KEY FACTS

The PPP was originally slated to close down last Tuesday. 

The Senate unexpectedly approved the new legislation by unanimous consent on Tuesday evening, and the House followed suit on Wednesday. 

Some $130 billion in loan money allocated to the $670 billion program remains unspent. 

When Congress returns from its July 4th holiday recess, it must figure out how to allocate the remaining money and determine the next steps for federal aid to small businesses. 

Treasury Secretary Steven Mnuchin has said that the next round of small business aid will need to be “more targeted” to the specific industries that are struggling the most, like hotels and restaurants. 

Another popular Democratic proposal would allow businesses with fewer than 100 employees to take out a second PPP loan from the remaining funds. 

BIG NUMBER

4.8 million. As of June 27, that’s how many PPP loans had been approved. All in, those loans were worth nearly $520 billion.

KEY BACKGROUND

The PPP was created as part of the $2.2 trillion CARES Act, signed into law by President Trump at the end of March. The $350 billion program provided forgivable loans to cover payroll and overhead expenses for cash-strapped businesses to keep them from folding during the worst of the economic slowdown. After an initial crush of applications and a chaotic rollout period, the PPP ran out of money in just two weeks, prompting Congress to pass more legislation to re-up the facility with another $310 billion. 

This article was written by Sarah Hansen for Forbes.com

Uber is reportedly in talks to buy food delivery firm Postmates for $2.6 billion

Uber is changing tack after acquisition talks with Grubhub fell through by switching its attention to food delivery startup Postmates, the New York Times reports.

Three sources familiar with the matter told the Times that Uber and Postmates were holding ongoing acquisition talks. One of the sources said Uber is offering to buy Postmates for roughly $2.6 billion.

Uber was reportedly in acquisition talks with food delivery startup Grubhub earlier this year, but Grubhub announced on June 11 it was instead merging with European takeaway service Just Eat. Sources told CNBC Uber walked away from the deal over concerns it would attract antitrust scrutiny.

As a much smaller player in the food delivery business, Postmates could be a safer option.

According to analytics firm Second Measure, Postmates makes up a significantly smaller chunk of the US market than Grubhub. Grubhub captured 32% of food delivery sales in 2019, while Postmates made up 10%. Uber Eats meanwhile accounted for 20% of the market.

Antitrust fears are not the only possible reason why Uber may have walked away from Grubhub, various reports emerged that the two firms struggled to agree on a price for the acquisition. Just Eat paid roughly $7.3 billion to acquire the startup.

Uber’s desire to bolster its food delivery service has reportedly been spurred on by the coronavirus pandemic, as demand for taxi services has plummeted while food delivery has skyrocketed.

Two sources told the Times Postmates has also held sale talks with Grubhub and DoorDash over the past year.

Postmates confidentially filed plans for an IPO with the SEC in February 2019, but has yet to go public. Sources told Reuters on Monday that the company is considering reviving its IPO plans due to the boom in food delivery brought on by the pandemic.

Uber and Postmates were not immediately available to comment when contacted by Business Insider.

This article was written on BusinessInsider.com by Isobel Asher Hamilton

Start Your Retirement Business Now

What do Netflix, GE, Trader Joe’s, Microsoft, Disney, and FedEx have in common?

They all started during economic downturns.

Your vision for your own retirement business might not be on the same scale as those giants. But history shows that it’s not only possible to start a great new company during retirement, it might be ideal. That’s especially true if you have an idea and some capital that you’ve earmarked for starting a new company once you’ve retired.

So why wait? Here are 4 reasons why you should consider starting your retirement business now, even if you’re not ready to retire.

  1. Stay busy.

No matter what stage of your life and career you’re at, it’s likely that Covid-19 and quarantining have given you a little extra time at home. If you’re struggling to fill those hours, ask yourself, “What am I going to do when I’m retired, and I have EIGHT extra hours to fill every day?”

One reason that many seniors put off retirement is that working gives them something to do and a sense of purpose. When retirement rolls around, many of them struggle to create a new schedule that provides that same sense of structure. The foundation you lay today for your new business while killing time in quarantine could grow into a structure that will make your retirement more fulfilling.

  1. Put your experience to use.

Many retirees look back on their careers and think, “If only I knew then what I know now, I would have …”

What?

What would you do differently? What pitfalls would you avoid? What risks would you take? Which ideas would you chase, and which would you leave by the wayside? What strengths would you focus on? What weaknesses would you improve, or offset by creating a key partnership?

There’s so much more to your career than the skillset you’ve developed. You also have the benefit of all your experiences, the good and the bad. Use that lifetime of learning to build a better business.

  1. New realities and new opportunities.

It’s very likely that the home office will soon just be “the office” for many people. That’s one example of how Covid-19 has changed how, where, when, and why we work.

But the best entrepreneurs find opportunity in disruption. Your new retirement company might not be a brick-and-mortar operation. Instead, you might be able to invest the money you’ll save on things like rent and utilities by upgrading your technology infrastructure or building a remote support team.

Of course, the global marketplace has been disrupted too. But many professional services can survive or even thrive during disruption. Accounting, virtual administration, and expert consulting are always in demand. Other services, such as home or auto repair, landscaping, or graphic design can be provided without breaching social distancing recommendations. Your dream restaurant concept could be adapted into a cost-efficient food truck. Children who are struggling with learning at home could benefit from virtual tutoring.

Somewhere there’s a new niche that you are uniquely qualified to fill. Find it and be the first to set up shop.

  1. It’s not work if you love doing it.

Retirement is when many people finally focus on the passions and interests they didn’t have time to pursue when they were working full time. Aspiring entrepreneurs have that same opportunity. Hiring yourself as CEO of your new company will allow you to focus on the parts of your work that truly inspire you.

You could also develop your talents and hobbies into an entirely different career. Open an online store and start selling the pies your friends and family go wild over. Post pictures of your latest woodworking project and see if there’s a potential customer base.

The Covid-19 pandemic has made each of us reflect on what our lives were like before and what we want them to be like going forward. If you think that dedicating some of your time and financial resources to starting your own retirement business could improve your Return on Life, schedule a meeting or virtual call with us.

6 Easy Ways to Ruin Your Retirement

6 Easy Steps to Ruin Your Retirement

Many people I know have concluded that retirement was worth waiting for and worth planning for. Those who planned well (and who are lucky enough to have good health) are generally finding this to be a very satisfying time in their lives. But those who didn’t plan well or who couldn’t save enough are finding that retirement can be difficult.

My commitment is to help people, but this week I’m switching roles so I can give you some dynamite tips for having an unhappy retirement. (Of course, what I’m really advocating is that you do not do these things.)

Don’t save enough money.

Spend (and borrow) whatever it takes to keep yourself and your family happy. You can always catch up later when you get into your peak earning years, when the kids are gone, or when you’re finally finished paying for whatever else is more important right now.

The likely result: You could find yourself in “panic mode” in your 50s and 60s. You could have to work longer than you want. Another popular choice, you could have to reduce your living standards after your work life is through. You could fall prey to persuasive salespeople (see my final tip below) who do not have your best interests at heart. Or maybe even all of the above.

Be careless about how you plan and budget for retirement expenses.

When I was an advisor, I was amazed how many investors neglected to include taxes as a cost of living in retirement. If you’re living off of distributions from a non-Roth IRA or 401(k), the full amount of those distributions is likely to be taxable. For extra credit: Don’t spend any money on a financial advisor to help you plan.

The likely result: You may go into “panic mode” when your accountant hands you an unexpected tax bill.

Lock in your expectations about your life in retirement and make rigid financial decisions.

There are plenty of ways to do this. You could sell your house and move somewhere cheaper even though you don’t know anybody there. Another option, you could buy a fixed annuity to have an income that’s certain. You could fail to establish an emergency fund. (After all, what could go wrong?) You could get sick or need surgery that isn’t covered by Medicare or other insurance.

The likely result: Things will happen that you don’t expect, probably sending you once again into “panic mode” and making you vulnerable to the pitches from all manner of enthusiastic salespeople.

Ignore inflation, since it doesn’t seem like a current problem.

Assume that $1,000 will buy roughly the same “basket of goods and services” in 2026 and 2036 that it will today. Be confident that you know what the future holds. After all, the years of high inflation that are often cited happened a long time ago. Things are different now.

The likely result: You probably won’t be thrust into “panic mode” since inflation is usually gradual. But one day you will realize with a start that things are costing a lot more than they “should,” and your income can’t keep up.

Keep all your money where it’s “safe,” in fixed income.

You’ll have lots of company among current retirees whose “golden” years are being tarnished because they have to rely on today’s historically low interest rates. Don’t just blindly invest in equities, because, as we all know, you can lose money in the stock market.

The likely result: You may start retirement with sufficient income to meet your needs, but those needs will probably increase, especially for health care, in your later retirement years. Your fixed income may be safe, but it won’t expand to meet increased needs.

Attend investment seminars and trust the presenters, then make important decisions without getting a second professional opinion.

You could follow the unfortunate example of a couple I know who, in their 50s, attended a retirement seminar and got some bad advice. They met privately with the presenter/saleswoman, then rolled their entire retirement accounts into a variable annuity. They thought they were giving themselves good returns, future flexibility and saving a lot of money in taxes.

In reality, they gave themselves huge headaches and nearly lost half their life savings. I helped them fight the unpleasant (and ultimately successful) battle to get out of their contract and recover their money.

This couple could teach us all some lessons, but the terms of their settlement makes that unlikely. If they disclose that they got their money back, or if they disclose how they were deceived and cheated, they will have to give the money back to the insurance company.

The likely results: You will be disappointed in the decisions you make. You will have many reasons to never trust an investment sales pitch again. You will have less money in retirement than if you had never heard of that particular seminar.

So now you have it: Six easy steps to ruin your retirement. I hope, of course, that you do just the opposite of each one of these. Unfortunately, I think there’s a high likelihood that somebody you know has fallen into one or more of these traps.

My advice: Learn from their mistakes.

INVEST IN YOU: READY. SET. GROW. Looking for a job? Coronavirus-related layoffs expanding roles for freelancers in these hot sectors

Maskot | Getty Images

Thursday’s report from the Labor Department that 1.5 million people filed new state unemployment claims last week serves as a stark reminder that the impact from the Covid-19 economic fallout is very much persisting.

For those seeking work amid the coronavirus pandemic, there is a bright spot: According to the annual “Future of the Workforce Report” from Upwork, opportunities abound right now for the independent professional. With the unemployment rate at 13.5% and a rapidly changing labor market, hiring managers are accelerating the use of freelancers, says the global freelance job platform.

The survey finds that 45% of hiring managers expect freezes on new staff, while 39% expect layoffs to continue in the coming months. At the same time, close to three-quarters (73%) of hiring managers are looking to maintain or expand their hiring of independent professionals, with a typical employment length of about four months. Nearly half of all hiring managers surveyed said that they are now more likely to use these freelancers as a result of Covid-19.

Upwork’s annual report surveyed 1,500 hiring managers, once in November of 2019 and again in April of 2020, after the coronavirus outbreak. 

“This remote work experiment will also have long-term implications for the traditional ways of hiring,” Upwork’s chief economist Adam Ozimek told CNBC in an email. “As companies embrace more remote work, they will also see that this opens up opportunities for how they think about hiring, recruiting and their workforce as a whole. They will no longer be confined to just their local labor markets but can find the most skilled talent, regardless of their location, that best meets their business needs.” 

Flexible work: Not just a short-term solution

The most popular fields for short-term project work are writing, creative, web and software development positions, according to the Upwork survey. Hiring managers cited projects focused on motion graphic design, front-end data development, internet marketing and web analytics.

“For many the reliance on independent talent and a more flexible workforce is not just a short-term solution but a long-term strategy that will enable businesses to stay competitive and agile as they accelerate into the future,” Ozimek said. 

Employers are also on the lookout for candidates with transferable soft skills and more foundational skills, such as customer service and problem solving

The growth rate of full-time remote work is expected to more than double from 30% to 65% within the next five years.

With the coronavirus pandemic making in-person hiring impossible in many cases, recruiters and hiring professionals are adopting virtual platforms to conduct interviews and speak with candidates.  

WATCH NOWVIDEO08:25Searching for a job? The answer might not be online

The transition to a remote working environment for most white-collar and corporate employees has several benefits, including no commute, less time spent on nonessential meetings, and limited distractions that are typically commonplace while working in the office. Working remotely has provided employees with increased flexibility, and 59% of hiring managers expect that companies who do not adapt to these more flexible conditions are at risk of becoming less competitive. 

“Covid-19 has thrown many companies and workers into the deep end when it comes to trying remote work. But what most are finding is that remote work really does work. … Lack of commute, reduction of nonessential meetings, greater autonomy and, most importantly, increased productivity. … These benefits will be hard to give up,” Ozimek said.

This article was written by Nicole Dienst for CNBC.com

Gain Personal Momentum Coming Out of the Pandemic

Part 1: Better Habits for a Healthier Mind

Since the Covid-19 outbreak we’ve all had to make adjustments so that we could cover our basic needs, care for our loved ones, and remain productive during quarantine. No matter how well you’ve adapted to these extraordinary circumstances, there’s probably a part of you that feels like you’ve been just trying to get through the next day. But it’s important that we create some personal momentum as life returns to normal, so we can hit the ground running.

And, to your credit, you have!

But as the country begins to reopen, it’s time to stop “getting by” and start approaching our lives and work with the same vigor we had before the pandemic. Regaining our old momentum isn’t going to be as easy as flipping a switch. So we asked some leading experts on behavior and peak performance what mental strategies they would recommend to help us start building personal momentum as we approach, hopefully, the end of quarantine life.

  1. Live in your “Present Box.”

Licensed clinical psychologist Dr. Beth Kurland says that evolution instilled a “wandering mind” in humans as a survival mechanism. We’re never totally in the present because our survival instinct is constantly reminding us of things we overcame in the past and alerting us to potential future dangers. Dr. Kurland says, “In this pandemic of uncertainty, these kinds of mental ruminations can really increase a lot of the anxiety that people are experiencing.”

The more that we focus on the here and now, the less anxious we are going to be, and the more motivated we will feel to tackle immediate problems. To help achieve this mental shift, Dr. Kurland recommends drawing two large boxes on a sheet of paper. Label one “The Present,” and label the other “What If?” Then, write the things that are occupying your mind in the appropriate box. According to Dr. Kurland, separating what’s happening right now from what could happen helps us “to really think about what is in our sphere of influence, what we have personal agency and control over.”

Yes, eventually, you might have to move some of those “What Ifs?” into your “Present” box. But for the moment, try to imagine putting a lid on your “What Ifs?” and structure your time around what you need to do – and can do – today.

  1. More Teflon, less Velcro.

Psychologist Rick Hanson says, “The mind is like Velcro for negative experiences and Teflon for positive ones.” The anxiety and worry we’re all experiencing during quarantine only enhances our tendency to dwell on the negative and overlook the many good things we have in our lives.

Dr. Kurland believes that an added benefit of her Two Boxes exercise is that the more present we are, the more likely we are to notice and appreciate the positive. For example, many of us are feeling closer to our extended friends and families thanks to Zoom calls and care packages. Other folks have used the working from home experience to chart new career paths.

However, a Teflon mindset doesn’t mean boxing away some of the real emotional hardships you’ve experienced during the pandemic. Instead, Dr. Kurland encourages us to find a healthy balance between letting our feelings in and not letting them keep us down.

“I think it’s really important to acknowledge and have an opportunity to process those emotions,” Dr. Kurland says. “But try to both hold a space for the grief, the sadness that may be there, and also really find ways to notice the moments where we can really appreciate the positive things that we can take in. The warm glance from a family member or a kind word from a coworker. These kinds of things that really, as we take them in, can help us to get through a difficult day, a difficult moment.”

  1. Separate good stress from bad stress.

“Stress is good to a certain extent,” says Commander David Sears, who served for 20 years in active duty within the United States Special Operations Command as a U.S. Navy SEAL officer. In Commander Sears’ experience, stress can be a catalyst for growth and improvement. Right now stress is instilling good new habits in you, such as wearing a mask when you go shopping or retooling your monthly budget to adjust for changes in your work and living conditions.

But Commander Sears cautions, “You can get overwhelmed by stress and then it starts to become chronic, debilitating and it turns into a sort of pain.” To manage his own stress response, Commander Sears leans on lessons from his military service, including the importance of having a support system around you and finding order in a personal routine.

“It’s Physical Distancing”

“This whole idea of social distancing that we have is wrong,” says Commander Sears. “It’s physical distancing. We still need that social interaction, you need to have those communications. And you have to put in some structure in order to put some sanity into your life. Maybe develop your own schedule in the morning: I’m going to get up, I’m going to work out, I’m still going to put on my pants and get out of my pajamas. I’m going to then go to my first project of the day, then I’m going to go to the second. You might even need to implement a little more structure and discipline in your life in these times so you don’t feel like you’re wandering.”

We understand that transitioning back to living and working outside of your home is going to present its own set of challenges. We hope the expert strategies discussed here will help you approach those challenges from a more positive place. We’re also available for video calls or in-person meetings to discuss how your Life-Centered financial plan can help you build more momentum towards living your best possible life after quarantine.

If you would like to create personal momentum in your personal finances, reach out to us.

Additional Government Resources

Dubai Set To Open Heart Of Europe With 6 Outrageous Themed Islands

Floating Seahorse Villas and skyline

Based on six islands that bring the best of Europe to Dubai, The Heart of Europe is located 2 miles from the coast of Dubai and will offer up a variety of European cultural, dining, and hospitality experiences across resorts, cafés, bars, boutiques, and entertainment. Kleindienst Group developed the $5 billion master-planned tourism island destination that came a long way since its original concept was launched in 2008.

The Covid-19 outbreak may have stopped business on the mainland, but the Heart of Europe islands continued work at an aggressive pace with a goal to open Phase 1 by the end of 2020.

The development will offer “world’s first” attractions such as; the First Underwater Hotel with Gym and Spa, the First Dedicated Wedding Hotel, the World’s First Artificial Rainy Street, the First Floating and Underwater Living Experience and the World’s First Outdoor Snow Plaza.

Phase One opening of The Heart of Europe consists of, Sweden Beach Palaces, Germany Villas, Honeymoon Island, Portofino Hotel, and Côte d’Azur Resort.

Floating Seahorse underwater bathroom
The Floating Seahorse HEART OF EUROPE

THE FLOATING SEAHORSE VILLAS

(3 level villas with underwater living, glass-bottom Jacuzzi, and private man-made coral reefs teeming with marine life)

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Connected to Honeymoon Island by jetties, the Floating Seahorse Villas were designed for investors and second home end users. Consisting of over 4,000 square feet with three levels, each will feature state-of-the-art technology and outdoor climate-controlled areas. The ultimate attraction will be the underwater level with exclusive views to the coral reefs.

Germany Island
Germany Island HEART OF EUROPE

GERMANY ISLAND

(15 beachfront villas, 17 lagoon villas, offering four or five bedrooms in Bauhaus inspired style)

The horseshoe-shaped Germany Island will face onto an azure-blue lagoon with its own bar, lush gardens, white sandy beaches and bent palm trees. 

There will be traditional German carnivals, Christmas markets, festivals, and the famous Oktoberfest. Famed international chefs will offer up the finest German-style menus as well as the largest selection of German beers and wines.

Viking style villa on Sweden Island
Viking style villa on Sweden Island HEART OF EUROPE

SWEDEN ISLAND

(10 four-story palaces, 7 bedroom waterfront homes, each ground floor has a gym, sauna and snow room, while on the rooftop there will be a glass-roofed party room)

Sweden Island was inspired by Swedish Viking Vessels and will offer up palaces furnished by Bentley Homes with glass roofs and private snow rooms. The $27 million beach palace was among the first properties to sell out on the island. Restaurants will incorporate Sweden’s famed cuisine, featuring items like sour herring, meatballs, Raggmunkar, toast Skagen, smörgåsbord, Snaps, and Glὃgg.

Honeymoon Island surrounded by Floating Seahorse Villas
Honeymoon Island surrounded by Floating Seahorse Villas HEART OF EUROPE

HONEYMOON ISLAND

The unique heart-shaped Maldivian inspired island will be a couples retreat surrounded by Seahorse Floating Villas that will sell up to $5 million each. Next to the island, there is the islands Empress Elizabeth Hotel, the first dedicated seven-star wedding hotel, where couples can celebrate their union overlooking white sandy beaches and crystal clear waters.

Floating Venice Resort
The Floating Venice HEART OF EUROPE

FLOATING VENICE

(411 cabins, 180 underwater cabins, underwater lobby, gondola transportation, yacht club)

Inspired by the floating city, this will be the world’s first underwater resort with dining and accommodations located below the surface. Restaurants, bars, and shops will all be underwater with views of coral reefs and passing gondolas above. Entertainment will be offered from masked carnivals to opera performances.

The resort will have 12 restaurants and bars (three of which are underwater) and an underwater spa.

Switzerland Island Ice Cave
Switzerland Island HEART OF EUROPE

SWITZERLAND ISLAND

(Beachfront and lagoon villas, featuring master bedrooms, swimming pools and viewing decks)

Switzerland Island offers villas with water views and access to beaches, a seawater lagoon, and private swimming pools. The villa chalets utilize timber, stone, and glass design. A large blue water lagoon in the center of the island will be reminiscent of the large lakes in Switzerland.

The Côte D’Azur Resort
Monaco Côte D’Azur Resort HEART OF EUROPE

MAIN EUROPE ISLAND / COTE D’AZUR RESORT

The Côte D’Azur Resort comprises of 4 boutique hotels all named after the famous and picturesque cities of Monaco, Nice, Cannes and St. Tropez which are located in the South of France. The 4 boutique hotels will have Suites and penthouses with large balconies offering panoramic sea views.

Monaco will feature French fine-dining with an upscale contemporary décor, high-end fashion boutiques, and a large white sandy beach. There will also be lagoon swimming pools and a replica of the famed Monaco Marina.

Portofino Hotel on Italian Riviera island
Portofino Hotel on Main Europe Island HEART OF EUROPE
Aerial of Portofino Island
Aerial of Portofino Hotel HEART OF EUROPE

PORTOFINO HOTEL

(489 Princess and Queen Suites, Rooftop penthouses, Marina and Lobby with 514 aquariums, 6 Italian restaurants & bars, Women’s only social lounge and spa, Olympic size pool with underwater performances and Kids Club)

Designed to look and feel like the Italian city of Portofino, with colorful terracotta buildings, the Portofino Hotel on the Main Europe Island is a family hotel that will feature Italian-style suites with kids rooms, a kids club operated by a leading kids club operator, restaurants and cafes serving Italian cuisine and organic food. The facade will host an extraordinary hanging garden with 31,000 plants.

There are five swimming pools at the resort and even a snow-play area where children can build snowmen. Add synchronized swimming shows for entertainment.

The island will have its own fully-serviced private Paraggi Bay marina where all guests will arrive by boat. The front of hotel employees will speak Italian and the hotel will even accept Euros as currency.

Floating Seahorse Villas and skyline
Floating Seahorse Villas and skyline HEART OF EUROPE

SUSTAINABILITY

The Heart of Europe will oversee the development of more than 100,000 coral reefs and will also feature centenary Spanish olive trees that were sourced from Andalusia, Spain. The islands will also offer up the world’s first climate-controlled rainy street and snow plaza. 

The development will also use sustainable landscaping that will be pesticide-free and fungicide-free, and all green areas will use recycled water. The island will be totally car-free, use clean energy, and will offer sustainable water transportation to the guests. Designed with a zero-discharge policy and zero micro-plastics policy, the developers hope to ensure the protection of the Arabian Gulf and species of marine life that reside around the six islands.

This article was written by Jim Dobson for Forbes.com

Get Away In Your Own Backyard


Summer travel plans are up in the air right now as federal and local governments sort through the best strategies for keeping COVID-19 under control. Although it’s disappointing to put off a vacation or big family party you’ve been planning forever, there are still recreational options right in your backyard that will get your family outside safely. If you’re starting to reschedule your summer, keep these ideas in mind to make the most out of the months ahead.

Stay safe

No matter where you go or what you decide to do, social distancing is still Rule 1.

The CDC recommends that you and members of your household stay at least six feet away from other people, even in open air. If you visit a public park, avoid group activities or team sports like basketball, soccer, or football that put you in close contact with other people and shared equipment. Avoid public facilities like bathrooms and playgrounds. Hiking trails and taking bike rides are good alternatives.

Also, make sure you bring along a cloth face covering and some hand sanitizer, avoid touching your face, and wash up when you get home.

Find a nearby National Park

According to the National Park Foundation, there are 62 sites in the U.S. that include “National Park” in their name, including such famous destinations as the Grand Canyon and Yellowstone.

But before you load up the camper, keep in mind that the CDC recommends staying close to home. Long-distance travel will require stops to refuel, eat, and use public restrooms, which could expose you and your family to germs – as well as spread your own.

Also, even though parks are technically “open,” many of their public facilities aren’t. That means no restrooms or cafeterias. Maintaining a safe social distance could also be challenging at more popular parks, especially as the weather turns warmer.

If the big parks are outside your radius, our wider National Park System spans 419 sites, including historical battlefields, monuments, nature trails, rivers, and preserves. Take a look at the National Park Foundation’s database. There’s probably an interesting, beautiful spot near you that you’ve never noticed before.

Explore local options

Many state and country parks are open as well, with many of the same restrictions in place. You can take a long walk or bike ride with members of your family, as long as you can maintain safe distance from other folks. But depending on your local health guidelines, playgrounds and public restrooms might still be off limits. Check state and county websites for more information about what facilities are available and plan ahead, especially if you’re bringing children along.

Kids are one reason that your local neighborhood park is still a great option for a day out; emergency bathroom breaks and snack time are a lot easier to manage when your house is just down the block. Neighborhood parks can also be less of a crowding hazard, making it easier for your family to maintain safe social distance.

Of course, that empty playground is more tempting in a small park too. Before you head outside, have an age-appropriate chat with your kids about why they need to stay off public equipment.

REALLY local options

If your home has private yard space, wake up your inner child, especially if you have children of your own. Kids who see their parents really throwing themselves into family time are going to feel a little less anxious and sad about things they can’t do right now.

When you’re not working or teaching, leave your phone inside and make this family time special. Plan a treasure hunt. Lead a backyard yoga session. Organize a family soccer game. Plant flowers together. As the weather improves, move inside activities outside, like meals, story time, and board games.

Finally, use the space available to you to embrace some of the simplicity that this situation has created. Hang up a hammock or set up some extra reading chairs around the fire pit. One of the reasons we struggle to fill time during quarantine is that rushing through our normal lives makes us feel like we should always be doing something. Older children and adults should take advantage of extra downtime to think, reflect, and be creative.

We know summer travel is just one of many ways that the COVID-19 pandemic has disrupted your life. As our country and our local communities start to reopen, please be safe, and please be in touch if we can help in any way.