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Tens of thousands of people turn to Google every month to see if now is the time to invest. It’s a loaded question, especially this year: In late February 2020, the S&P 500 began a monthlong decline, finding what investors hope was the pandemic floor on March 23.Historically, it has taken an average of about two years for the market to recover from a crash; this time, it bounced back in just 149 days. By the end of August, the index was once again hitting record highs.Stranger still, this unprecedented recovery came amid dour headlines, with U.S. unemployment hitting an all-time high in April and remaining above 10% through July.Between the stock market’s erratic behavior and economic uncertainty across the globe, investors are understandably wary. But that shouldn’t mean sitting out of the market.Understanding the Main Street-Wall Street disparityThe market’s recovery is clearly at odds with the U.S. economy. But a closer look shows this imbalance may not be as perplexing as it seems.The stock market reflects investor sentiment about the future, not what’s happening right now. While retail investors may be more inclined to buy and sell based on daily headlines, institutional investors are looking far ahead. And given the rapid market recovery (and the expectation of continued help from the Federal Reserve), it appears Wall Street isn’t spooked.The S&P 500 is also market cap-weighted, meaning larger companies will have a bigger impact on its performance (see how the S&P 500 works to learn more about this). The five largest companies in the index (Apple, Microsoft, Amazon, Facebook and Google’s parent company Alphabet) are in tech, an industry that hasn’t been hit as hard by COVID-19. The tech-driven recovery helped push the S&P 500 to its record high, despite the ongoing economic issues caused by the pandemic.And then there are the high hopes for an eventual vaccine. According to Robert M. Wyrick Jr., managing member and chief investment officer of Post Oak Private Wealth Advisors in Houston, investors may be betting on the belief that a coronavirus vaccine will be produced sooner rather than later. If and when a viable vaccine is broadly available, it’s likely to be a big driver of continued growth in the markets.“While this is likely already priced into the market to some degree, I would prefer not to be on the sidelines when this ultimately happens,” says Wyrick, whose firm specializes in advanced risk-managed investing.Timing the market vs. time in the marketAccording to Marguerita Cheng, a certified financial planner and CEO of Blue Ocean Global Wealth in Gaithersburg, Maryland, when you start investing isn’t as important as how long you stay invested. And that’s a maxim to remember in a pandemic, too.“The best way to build wealth is to stay invested, but I know that can be challenging,” Cheng says in an email interview.It’s easier if you invest only for long-term goals. Don’t invest money you may need in the next five years, as it’s highly possible the stock or mutual fund you purchase will drop in value in the short term. If you need those funds for a large purchase or emergency, you may have to sell your investment before it has a chance to bounce back, resulting in a loss.But if you’re investing for the long term, those short-term drops aren’t of much concern to you. It’s the compounding gains over time that will help you hit your retirement or long-term financial goals. (See how compounding gains work with this investment calculator.)The water’s fine, but wade in slowlyOne of the best strategies to remain calm and stay invested during periods of volatility is a technique known as dollar-cost averaging.Through this approach, you invest a specific dollar amount at regular intervals, say once or twice a month, rather than trying to time the market. In doing so, you’re buying in at various prices that, in theory, average out over time.Wyrick notes this is also an excellent strategy for first-time investors looking to enter the market during times of uncertainty.“It’s very difficult to time when to get into the market, and so there’s no time like the present,” Wyrick says. “I wouldn’t go all-in at once, but I think waiting around to see what happens to the economy or what happens to the market in the next three, six or nine months in most cases ends up being a fool’s errand.”So how, exactly, do you start dollar-cost averaging into the market? A common strategy is to pair this with stock funds, such as exchange-traded funds. ETFs bundle many different stocks together, letting you get exposure to all of them through a single investment. For example, if you were to invest in an S&P 500 ETF, you would have a stake in every company listed in the index. Rather than investing all your money in a few individual stocks, ETFs help you quickly build a well-diversified portfolio.To dollar-cost average you could set up automatic monthly (or weekly, or biweekly) investments into an ETF through your online brokerage account or retirement account. Through this approach, you would achieve the benefits of dollar-cost averaging and diversification, all through a hands-off strategy designed for building long-term wealth.More From NerdWallet5 Things to Know About Gold’s Record-Breaking RunNew Investors: Quit Stock-Picking and Do This, Expert Says6 Ways Your Investments Can Fund Racial JusticeChris Davis is a writer at NerdWallet. Email: cdavis@nerdwallet.com.The article In a Year of Uncertainty, Should You Still Buy Stocks? originally appeared on NerdWallet. 5570
Stitch by stitch, Juanita Martinez is creating a better future for her family and her community.“As a woman and a Hispanic, I think that I’m really proud of what we’ve done,” she said.Martinez is a co-owner of Three Amigos Graphics, a mother daughter-run business in Houston, Texas, with the third amigo being their neighborhood.“They love us,” Martinez said of her community. “I don’t know how else to put it. They take care of us and they make sure that we’re okay and that’s part of the community that we’re in.”Martinez runs one of more than 600,000 thousand Hispanic-owned businesses in the United States. According to the Houston Hispanic Chamber of Commerce, those businesses account for almost trillion in annual economic spending in areas ranging from, what experts describe as, the barrio to the boardroom.“That community has continued to mature in terms of their education and their buying power, so the number trillion doesn’t surprise me,” said Randy Velarde, president of The Plaza Group, an international petrochemical marketing group.While Hispanics continue to add and impact the nation’s economy, Velarde is promoting quality over quantity.“I’m hopeful and encouraged by our ability to be more influential in other parts of society,” he said.In 2019, the number of Hispanics reached 60.6 million, making up 18% of the U.S. population, according to the Houston Hispanic Chamber of Commerce.“As go Hispanics goes Houston and in this case as go Hispanics so goes the United States,” said Dr. Laura Murillo, president the Houston Hispanic Chamber of Commerce. She says Hispanics account for roughly a quarter of the U.S. gross domestic product and she hopes corporate America starts taking better notice.“Latinos have made many strides,” Murillo said. “We should continue to aspire to be in high places but never forget that many of us came from Navigation.”Back on Navigation Blvd., Three Amigos Graphics continues working to better their local economy and their community.“It’s nice to have money but we’re not in it to be rich,” Martinez said. “We want to make sure when I do good my neighborhood is doing well.” 2140
Ten eastern states are under winter storm warnings, and an additional five states are under winter weather advisories or storm watches ahead of a nor’easter headed for the region this week. The worst of the storm is expected to hit the region on Wednesday.The winter storm warnings extend in a line from North Carolina to Massachusetts. A number of major cities, including New York, Philadelphia, Boston and Pittsburgh, are in the winter storm warnings that were issued by the National Weather Service. The National Weather Service says that the heaviest snow is expected in South-Central Pennsylvania, where up to 2 feet is expected to accumulate. The National Weather Service says that dangerous travel conditions and isolated power outages are likely.The National Weather Service says that for areas along the I-95 corridor, there is concern of significant freezing rain, which would lead to widespread power outages, tree damage. Up to a quarter inch of ice accretion is possible.The National Weather Service says that the nor’easter’s rain/snow line is still being determined, and a small change to the track could make a major difference for the amount of snow for major Northeast cities. 1202
TEMECULA, Calif. (KGTV) - A three-alarm fire injured two people and prompted the evacuation of Pechanga Resort Casino in Temecula Monday. The fire broke out in an elevator shaft in the main resort complex just after 11 a.m., Riverside County Fire Department officials said. Pechanga spokeswoman Ciara Green told City News Service that the flames were confined to an elevator portal "in the original tower," which underwent a major expansion two years ago. One person suffered from burns and another suffered smoke inhalation. The burn victim was taken to Temecula Valley Hospital in stable condition, according to reports from the scene. "Out of an abundance of caution, team members and guests in the hotel tower were evacuated," Green said. "The incident was not near the casino." The fire was contained by 1 p.m. The cause of the flames is unknown. City News Service contributed to this report. 905
The 2020 election is set to be unlike any other in history.With the COVID-19 pandemic, election officials expect up to 70% of all ballots to come in through the mail.There have been claims of fraud by President Donald Trump, but experts say the data does not support those claims."Somebody is more likely to be struck by lightning than they are to commit voter fraud,” said Lawrence Nordon, director of the election reform program at the Brennan Center for Justice, a non-partisan public policy group at NYU.Nordon says in the last few federal elections, 25% of all votes were cast through the mail. He says it can not only be more convenient, but an important tool when it comes to verifying results.“Mail ballots are paper ballots. That means we do have an opportunity to audit all of those ballots,” said Nordon. “But I think people should feel very comfortable with the security of the system.”As for security, election officials take extra measures to ensure the integrity of the ballot. Firstly, mail-in voting reduces the risk of foreign interference to nearly zero. Mail-in ballots are printed on a specific type of paper with technical markings that are difficult to duplicate. They also include several local elections like city council, school boards, and ballot initiatives. It means there are thousands of different ballots for our country’s 3,000 counties.Then you consider the actual ballot itself.It comes in a secrecy envelope that is connected to each individual voter who needs to sign it. That signature is verified by judges who are sometimes trained by the FBI to detect inconsistencies.Counties across the country also have system in place that update voter registration, death records, and address changes daily while they go in and cross-reference the data as well to make sure the ballots are going where they are supposed to and people are who they say they are.“[Voter fraud] is not a thing. I think we’ve had one prosecution in 15 years,” said Paul Lopez, clerk and recorder for the city and county of Denver.Lopez says of the nearly 213,841 votes cast by Denver residents in the state primary on June 30, 211,626 were cast through the mail. And this is for a state that had the highest voter turnout of 77% in 2016.“The biggest thing we can do is inform folks and make sure they understand the process, make sure they understand that it’s secure, that it’s safe, that it’s transparent,” said Lopez.This is not to say there are not cases of voter fraud; there are. In July 2019, prosecutors in North Carolina filed charges against a Republican political operative accused of ballot tampering in a congressional election in 2018.Since 1982, the conservative Heritage Foundation says there have been 1,088 proven cases of individual voter fraud.That may sound like a lot, but the Brennan Center for Justice says considering the hundreds of millions of votes cast in that time, it is considered so rare and happens on such a small scale, that it does not warrant the broad-based red flags some people raise. 3041