By: Ray Woods
As a child my father often spent his limited time away from work playing board games with his family. One of his favorite board games was Monopoly. Such a board game instinctively taught players the power of property ownership and more specifically the power of “buying the block.” The game teaches players you don’t want to just own one property, in order to maximize your potential to collect rent, it’s important to own the block. So, no matter where an opposing player may land in any given area they’re more likely to have to pay you rent.
As we age as players, we learn that budgeting to buy blocks isn’t as simple as collecting rent or utilities, but minimizing expenses and the risk of loss is important as well. The old adage, “a dollar saved is a dollar made”, takes on an increased importance. Knowing when to buy and when to sell is just as important as knowing which blocks generate the most potential residual return on an investment. Sometimes it’s important to buy. Sometimes it’s important to sell. But it’s always important to know where the money should be. Where is the best opportunity?
According to the Consumer Financial Protection Bureau, in response to 2020’s COVID-19 pandemic, the recent “Cares Act” allows qualified investors under the age of 59 ½ years old to withdraw and reinvest up to $100,000 from their Individual Retirement Accounts (IRA) and employer provided accounts without penalty.That means investors with a traditional IRA and/or employer-provided retirement plan such as a 401(k) or 403(b) or other types of defined contribution plans can withdraw up to $100,000 without any early withdrawal penalties. This amongst many recent changes in laws and financial regulations in response to COVID-19, the recent fluctuations in stock valuations, and the forced closure of many small businesses throughout America have created instability, forced lowering of market values, decreased competition, and perhaps THE MOST OPPORTUNITY to make life changing investments of my life time.
Now, more than ever, may be the best time to seek consultation, speak to your neighbors,
and look around you for opportunities to “buy your block.” N-Touch News, Downtown Deliveries’ Essential Business Directory, Florida Financial Advisor’s Guilliano Guimaray and other Neighborhood Partners would like to invite investors and those seeking investment to attend The Neighborhood Networking Event of 2020. Attend on behalf of your business and Pitch The Perfect Post COVID-19 Investment, or attend as an investor to hear from local business men and women about the opportunities worth considering in The Tampa Bay Post COVID-19 marketplace. It’s a mask mandatory outdoor happy hour event held in the Courtyard of The Plaza Suites Tower at 111 2nd Ave NE St. Pete, FL on Friday July 31st, 2020 from 6-8pm EST. Register online starting July 13th, 2020 at www.EssentialBusinessDirectory.com. The 1st 40 registered attendees will be considered for a $10,000 Investment. Complimentary drinks and Hors d’oeures will be provided. If there’s anything we’ve learned from the COVID-19 pandemic, it’s the importance of community. When national institutions fail, it’s our community, and the true value of our “block” that may mean the most. We’re betting the perfect Post COVID-19 investment just might be you.