Inside Your Wealth - June 20

A Note from Marilyn and Ora - Summer Greetings and Happy Father’s Day!

We hope this note finds you and your loved ones safe and well as we continue to adjust to the many changes to our daily lives these past 90 days. As we start to re-open our national and local economies, let’s practice safe and healthy regimens that may help our economy experience a smooth and consistent recovery. It will take time and a collaborative effort by all of us to support our local and national businesses.

In addition during this time, we have witnessed the tragic deaths of George Floyd, Breonna Taylor, Ahmad Aubrey and now Rayshard Brooks. The continued social protests and unrest has increased the level of anxiety and concern for our fellow countrymen and we continue to pray for our nation’s healing. Corporate America has started to step up with financial commitments as well as renewed programs to support racial equality and social justice, which with legal support from Congress, is a good first step. We hope to see more intentional and continued efforts, on a national and local level, as we heal from these recent wounds. We honor and observe the Juneteenth holiday with you all.

Our team at the Diamond Group Wealth Advisors is here to support you as you take your journey to Financial Independence. We are grateful for your collaboration with us and wish you a healthy and happy summer season!  Sunday, June 21st is Father’s Day and we honor all of the Father’s in our lives.

Enjoy!

The Virtue of Agreeing 

When an argument brews at work or home, cooling things down might come down to simply agreeing on a small point, while  recognizing that work needs to be done to find a solution. 

As Fast Company notes, searching for a bit of common ground early in a disagreement can help to mitigate rising tension and conflict. This is not a matter of retreat or defeat; instead, it is an                  acknowledgment that you see something legitimate and true on the other side of the debate, and that you both want to work toward a good outcome. You can agree with a specific detail that the other party  mentions, the overall premise they set forth, or simply their zeal to accomplish what they feel needs to be done. In doing this, you display your emotional intelligence: your awareness of their feelings and your ability to manage interpersonal relationships well. You also have the chance to shift the focus of a disagreement away from an intractable sticking point to one that you can both agree on as valid and significant. Besides being a step in a direction toward collaboration, this may even lead you and the other party to a greater understanding and respect for one another.¹  

Phone Precautions for Credit Card Use 

Sharing a credit card number over the phone is not ideal, but sometimes, it has to be done. A few  precautions make the moment a little less risky. First, find the most private space you can; if you can’t find one, consider postponing the transaction. Second, never give a credit card number over the phone if you haven’t initiated the call. Third, have the customer service rep confirm the dollar amount of the purchase. Fourth, look over your next account statement and scrutinize that  particular transaction; if it appears to be inaccurate, get in touch with the credit card issuer as soon as possible. 

Furthermore, have you ever wondered why  businesses tack on a convenience fee to an over-the-phone credit card purchase? They may be attempting to offset a potential long-run  expense – namely, the cost of fraud. The voice on the other end of the line can’t see your face, so it becomes a bit more difficult to verify your identity and discern if a card  number might be  stolen.²

Recipe of the Month—Black Bean Burritos

Ingredients:

2 (10 inch) flour tortillas

2 Tbsp. vegetable oil

1 small onion, chopped

½ red bell pepper, chopped

1 tsp. garlic, minced 

1 (15 oz.) can black beans, rinsed and drained

1 tsp. jalapeño peppers, minced

3 oz. cream cheese

½ tsp. salt

2 Tbsp. fresh cilantro, chopped

Directions:

*Wrap the tortillas in foil and place into the oven,  preheated to 350° F (175° C). Bake for 15 minutes or until heated throughout. 

*Heat the oil in a 10-inch skillet over medium heat. Place the onion, bell pepper, garlic, and jalapeños into the  skillet. Cook for 2 minutes, stirring occasionally. Pour beans into the skillet and cook for 3 minutes, stirring  continuously. 

*Cut the cream cheese into cubes and add to the skillet. Add the salt. Cook for 2 minutes, stirring occasionally. Stir the cilantro into the mixture. 

*Spoon the mixture evenly down the center of a warmed tortilla and roll the tortillas up. Serve immediately.  

Recipe source: ifoodreal.com/cauliflower-pizza-crust/

The Telemedicine Trend 

During this pandemic, checking in with a doctor or dentist over the Internet has been a convenient alternative for  Americans concerned about going out in public. CNN notes that one major provider of telemedicine programs for health plans, clinics, and physicians recorded a 50% surge in virtual doctors’ visits during March. 

While telehealth services cannot replicate the relationship between a healthcare professional and patient, it can help to present a clinician, doctor, or dentist with a summary of  patient symptoms – and it can also help that clinician, doctor, or dentist deduce if the patient needs to come into the office. Even as the software creates a portrait of the patient’s  condition and symptoms, a clinician makes the final diagnosis rather than an algorithm. This year, many consumers have found that telemedicine is less expedient than they assumed; in some cases, the wait times for a COVID-19 diagnosis have unexpectedly taken an hour or more, reflecting an enormous jump in users. Even so, strides are being made in upgrading these programs, and it appears that a new chapter is being written in the 25-year history of telemedicine. By the end of this decade, we may visit a doctor to confirm our wellness or sickness based on information that we share with health care professionals online.³

Take A Stand—Worth Tip 

As we mature, we begin to know who we are and what we stand for. Reach out and support the causes and people that you care about. Invest your time and energy in areas that interest you and where you can make a difference. We can share our experiences, our unique talents, and our power to help someone else who may be on the Yellow Brick Road, but their path is not clear, and who may need guidance to get to their destination.

It took me quite a long time to develop a voice. But now that I found mine, I am not going to be silent. —Madeleine Albright 

Women hold up half the sky. —Chinese proverb

Savvy Women —

2020 Started Out With Such Hope and a Year of Abundance 

We started this year with the best of intentions, to take in each moment and reach for our bigger goals and intentions. Now, speaking of STRESS, each of us is living in an era that no one could have imagined on January 1st.

We are barraged with hourly news on the (COVID-19) and what to do and not to do to protect ourselves and our families. On top of this global pandemic, we also are witnessing a showdown with oil-producing countries, regions that conspired to topple the global economy, and each of our retirement and investment accounts.

So let’s talk about today’s STRESSES and how we may cope with this once in a lifetime event (we hope!).

The first thing I think about is how much control or lack thereof do I have in this situation. In our state and county, we are in a ‘Shelter In Place’ mode except for essential businesses and operations, meaning most of us will work from home and only go out for food, or essential services needed. We all love to  control and certainty, and now that is not possible in this timeframe.

That makes my world, my family’s world, pretty small, and I can handle that. I own and run a small business that can be run remotely and we can take care of most actions without human interaction. I am very concerned about the global economy, however; it is out of my control. I can invest my time to look through this temporary black swan event, and focus on how to help my clients manage as we all live through the next month and the next quarter.   

If you can, check the media and the stock market just once a day (okay twice a day) to keep your mind  focused on your business, your family matters, and the challenges that you need to take care of that day. When we stay in the moment with what we know and what we have to do, that will make us more  productive and feel in control. Keep your mind clear of distractions like Facebook, Twitter, Instagram, and some of the other social media traps. When life returns to normal, then return to other media.

The best stress relievers are fresh air and exercise. Since our gyms are closed for social distancing, we can take time to run, walk, or jog in the fresh air and take those earplugs out and enjoy this moment of  exercise! 

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