2020 Second Quarter Newsletter

With Knowledge Comes Confidence

NEWSLETTER
SECOND QUARTER 2020

iPhone Photography for Everyone! WITH INDIANAPOLIS
PHOTOGRAPHER, RAD A. DREW

In this 90-minute webinar, local photographer Rad A. Drew will share a host of tips and tricks that will help you
improve the quality of your images, whether they are work photos, fine art images, vacation photos, or photos of
family and friends. Rad will show you the do’s and don’ts of using the native iPhone camera, and he will share a
quick and easy workflow for using a simple process on a free editing app to make your images sing!

Among the things you’ll learn:
• Basics for using the iPhone’s native camera to create landscapes, portraits, still
life, and cityscapes
• The do’s and don’ts for creating clear, sharp images that are great for sharing
online and making prints
• A basic workflow using a free app to sharpen, crop, manage color, and add
clarity to any iPhone image
• Simple ways to add tone, romantic mood, and vintage looks to your photos
• A method using a low-cost app for removing unwanted elements in your
images, such as phone lines or other difficult-to-remove items
• Resources for learning more and advancing knowledge and skills

There will be time for questions during the presentation as well as a Q&A at the end
of the session.

Apps to install prior to the webinar: In addition to the native camera on the iPhone, Rad will introduce two apps: SnapSeed and
TouchRetouch. One for editing and stylizing, and the other for removing unwanted elements in your images. Both are available in
the App Store. SnapSeed is free while TouchRetouch costs $1.99.

WEBINAR DETAILS: UPCOMING

WHEN: Wednesday, July 22, 6–7:30 p.m. WHO: Anyone! Whether you’re a client Mark your calendars! We are offering a new
of the firm or not, we encourage you to webinar this fall. For more details or to sign
WHERE: Webinar attend. Feel free to invite a friend. up, visit our website or Facebook.
(We will email you the webinar link.)
RSVP: By Friday, July 17 by emailing October 21, 2020, 6–7:30 p.m.
COST: None [email protected], by Women, Divorce, and Finances Webinar
calling 317-872-5090, or Eventbrite

July 1, 2020, marks the 20th Anniversary of Worley Erhart-Graves Financial Advisors.
We want to express our appreciation to the many clients, colleagues, friends, and
family members who have contributed to our success and good fortune.

Stay Worley Erhart-Graves provides solutions—giving you peace of mind in your /wefinancialadvisors @worleyEG
Connected! financial life. We are here to help you reach your financial goals, and part of @worleyerhartgraves
that includes educational opportunities. So, connect with us on social media. Worley Erhart-Graves
Tag a friend who may enjoy or relate to the content we provide. Bring a friend Financial Advisors, Inc.
to our quarterly workshops. Follow us to see what we are up to!

Rethinking Your Rewards Credit Card

Juli Erhart-Graves, CFP®

I love vacations! By no means am I a seasoned world daughter’s 529, which racked up a tidy sum to put toward
traveler, but I love going to a warm destination each winter her undergraduate and now graduate education.
and taking bucket-list trips every other year. In fact, last
year I purchased a push-pin world map canvas and started Take a moment to consider what type of rewards would
marking past trips and future destinations. I have wonderful mean the most to you at this point in your life. If it’s time to
memories of Italy, France, and Australia, and look forward to change, think about your spending and explore cards that
future trips to Israel, Africa, and Norway or Iceland to see the provide attractive benefits based on where your money is
Northern Lights. going now.

Because travel is important to me, my husband and I both I haven’t settled
use an airline credit card as our primary credit card. We on a new card
generally build up enough miles to fly for free each winter, just yet, but our
so we count on those points. However, since travel has been big dogs are a
put on hold, and it is unclear how long it will be before it’s big expense in
prudent from a health standpoint, I started rethinking our my house, and
rewards card. in my research,
I came across
Even without a pandemic, it’s not a bad idea to periodically a rewards
review your rewards credit card to make sure the rewards credit card for
are still important to you. Perhaps your routine Amazon pet expenses.
orders make an Amazon card attractive, or maybe a (Graduate and
cash-back card makes the most sense for your current dogs pictured.)
lifestyle. For years, I used a card that made deposits into my

Market Economy Disconnect

Gail Gill, CFP®

Why is there a disconnect between the market and the So why would the stock market start to move upward while
economy? the economy was on a downward slope?

As 2020 began, it looked like we were headed for another To put this into perspective, let me ask you something: Have
record-breaking year in the stock market. The Dow was just you ever owned a stock that had a poor quarterly earnings
shy of hitting 30,000 in February 2020 before the coronavirus report but still gained in value that day?
became a real threat, causing the stock market to drop
37% from its all-time high in just 39 days. It was the most If so, it’s most likely because the poor earnings report was
rapid decline in history. Just 12 days after that, the market expected. It was already baked into the stock price. At the
recovered—somewhat—and we were down just 20% from same time, the company’s future looked bright. So, the stock
that same high. To put this into perspective, in 2008-09, the was rewarded. A stock’s value is based on earnings and the
stock market dropped to 10-year lows, and in 2020 it dropped potential growth of earnings.
to 3-year lows, which quickly became 2-year lows.
To apply this logic to today, the stock market is a leading
This left many scratching their head asking what changed. It indicator. It tells us what the economy may do in the future.
didn’t make sense because during that same time period we By moving up, it just told us it anticipates economic growth.
were watching stores, restaurants, schools, libraries, airlines, But how can that be when the most important indicator of
hotels, and many other businesses either temporarily close economic growth is employment? With 15% of the population
or scale down to barely keeping the lights on. States were unemployed, we can only assume that the stock market
telling their people to shelter in place. All of this resulted has baked this number into its valuation and expects the
in unemployment skyrocketing to 15% and GDP falling an economy’s future to be brighter than it is today. The economy
estimated 30% for second quarter. will have to navigate many bumps in the road ahead, but we
are hopeful for a much brighter future.

What’s Important

Pam Smitson, CPA, CGMA

As COVID-19 continues to affect local communities and global family while sitting in the back of SUVs and trucks in a park
economies, you may be wondering how recently passed eating carry-out; or hanging out on your driveway, in chairs
legislation impacts you. A high-level summary of a few key circling a fire pit table while six-feet apart, chatting with your
provisions impacting individuals pertaining to the 2019 tax neighbors. We would love to hear how and what you are
filing and 2020 tax year are as follows: doing. Please let us know! Our thoughts go out to all that have
been impacted by this unprecedented situation.
• The IRS provided relief by delaying the 2019 filing and
payment deadlines to July 15.

• Estimated tax payments normally due on April 15 and June
15 can wait until July 15 to be made without penalty.

• Each state has its own tax relief guidelines. You can find
information on state tax filing guidance at
aicpa.org/covid19tax, or check your state’s website.

• Indiana is mirroring the IRS provisions, including the April
and June estimates due date of July 15.

• Stimulus payments received are not taxable income.

• Unemployment benefits remain taxable, as usual.

Personally, I’ve learned in this unpredictable and challenging
time that it is more important than ever to stay connected, be
it through telephone; email; snail mail (I’ve sent several notes);
video chat girls-night-out-at-home; picnic with extended

Lend A Helping Hand

Margaret Gooley, CFP®

While there is a lot of bad news coming out of this pandemic, of my favorite charitable organizations. When our economy
I have been trying to stay focused on the positive and doing goes through turbulent times like these, the most vulnerable
what I can to help those who really need the extra support. I people in our population need us now more than ever to lend
am fortunate enough to work for a wonderful company that a helping hand.
was prepared for all of the employees to work from home and
still take care of our clients. I have also been blessed to have The recently passed CARES Act makes it even more enticing to
the ability to continue donating to and fundraising for some donate to a qualified charitable organization in 2020. One of
the items in the bill allows for a $300 above-the-line deduction
for charitable contributions made in cash this year. This means,
even if you are taking the standard deduction on your taxes,
you can still take advantage of this deduction for charitable
contributions of up to $300 without needing to itemize.
Imagine how many meals $300 could provide to families out of
work or the amount of pet food it could purchase for shelters
who are short on donations due to stay-at-home orders.

To be sure the organization you’re donating to is a qualified
charitable organization for tax purposes, consider using
a website like guidestar.org to look up its status. If you’ve
considered donating to a charitable organization in the past
and can afford to do so, now may be a great time to also get a
tax benefit for your generosity.

STANDARD PRESORT
US POSTAGE
PAID

INDIANAPOLIS, IN
PERMIT NO. 937

3500 DePauw Blvd. | Suite 1035
Pyramid One, Third Floor
Indianapolis, IN 46268

317.872.5090 Phone
855.872.5090 Toll Free
317.872.5095 Fax

wefinancialadvisors.com

We began 2020 excited about a year full
of community activities, sponsorships
and workshops—giving us an opportunity
to interact with our clients as well as the
opportunity to meet and develop new
friendships and relationships. All of that
changed quickly with the COVID-19
pandemic. But people are resilient and
have adapted with the use of Facebook
Live, webinars, Zoom meetings, etc. to
stay connected. We continue to stay
positive and look forward to connecting
with people because humans need to
physically connect with one another.
There is nothing like the energy and
atmosphere of live events. We anticipate
fun and laughter again in shared
experiences with the following partners:

Worley Erhart-Graves Financial Advisors is a Registered Investment Advisor. Registration as an investment advisor is not an endorsement of the firm by
securities regulators and does not mean the advisor has attained a particular level of skill or ability. All expressions of opinion reflect the judgment of
the authors as of the date of publication and should not be construed as personalized investment advice. Different types of investments involve varying
degrees of risk, and there can be no assurance that any investment will either be suitable or profitable for a client’s portfolio. Worley Erhart-Graves Financial
Advisors is not engaged in the practice of law or accounting. Always consult an attorney or tax professional regarding your specific legal or tax situation.
Worley Erhart-Graves Financial Advisors, Inc., is affiliated with Smitson Erhart-Graves Tax Advisors, LLC, through common control and ownership. Smitson
Erhart-Graves Tax Advisors provides accounting and tax preparation services. If you require such services, we may recommend you use Smitson Erhart-
Graves Tax Advisors, although you are under no obligation to do so. Fees for financial planning and investment advisory services are separate and distinct
from the fees Smitson Erhart-Graves Tax Advisors charges for their services.