Good morning,

It’s almost Halloween, and we have the scoop for you on this year’s trends and some great ideas for a COVID safe holiday. And first, we spoke with Obsidian’s own Todd Feldman about how to look at your financial life with a long view.

Todd likes to imagine the financial component of our lives as the process of climbing a mountain. The first phase, the actual climb, is wealth accumulation. “This involves working, saving, investing and sacrificing some parts of your lifestyle to have a brighter future,” he explained. It’s hard work and can pay off.

The second phase is reaching the top of the mountain, or retirement and managing your wealth. At this point, you start to consider and execute on the final phase, wealth distribution and legacy, or climbing back down. “When you’re coming down the mountain, you’ll have a lot of questions, like do I refinance my house? What should I do around social security, taxes, and estate planning? How do I take distributions from my wealth in the most efficient way possible so that I do not run out of money before running out of life. These are questions we can help you with,” Todd said.

Many people who are currently trying to get back down the mountain may be worried about the election and COVID-what happens if the markets go down and I start losing money? “The way we work at Obsidian is, we start with a financial plan,” he said. “If you’re a retiree and trying to get back down the mountain, the key is not always to look for the highest amount of wealth you’ve ever had in your life. Rather, the focus is to make sure that you can live with comfort and to be able to generate the income you desire for the rest of your life.”

The relationships at Obsidian always start with a financial plan to contemplate those questions. Having gone through that process, you have discussed your goals with our team, so we are taking this into consideration when building your financial plan.

Remember, the plan is about the future, your goals, and not necessarily the account value. We help you to establish sustainability with a plan that has considered many variables, including the behavior of the markets. Even if the markets look scary around this Halloween season. We understand and are there with you.

Halloween is this Saturday, and for most of us, it won’t look the way it often does. Even though the holiday is going to be different, the spirit of the season lives in our hearts, and many people have found innovative ways to celebrate, decorate, and dress up. The National Retail Federation estimates that 148 million adults in the U.S. (down from 172 million in 2019) intend to take part in the holiday–so they’re getting creative.

Some neighborhoods that want to have trick or treating are creating long chutes made of cardboard or PVC–often elaborately decorated–to distribute candy while maintaining a safe distance. Others are putting candy out in clear plastic bags at the end of their driveways for kids to grab, or pinning the bags to clotheslines.

The costumes are changing, too. According to NPR, Party City reports a jump in everyday heroes costumes–like nurses and firefighters–partly because this year hasn’t seen blockbuster films to inspire trick or treaters. That said, some adults are enjoying dressing up as characters from Tiger King, Ratchet, and Schitt’s Creek, all popular pandemic-era streaming shows.

If you’re looking for ideas and wondering what you can do safely in your neighborhood, Halloween 2020 lets you find your county and gives you safe ideas depending on the risk.

Whatever you do, be safe and have a spooktacular time!