2020 will definitely be a year to remember with COVID-19, economic shutdown, government stimulus, virtual school and work, and an interesting election year. Financially, it sure was a roller coaster year. With the country shutdown due to COVID-19, the economy took a dive but shortly came right back and eventually hitting all time records. This was interesting especially when unemployment was high, small businesses were closing, and states were again taking stricter rules to combat the spread of COVID-19.
Tech stocks like Apple, Tesla, and Zoom were a hit. Both Apple and Tesla went through stock splits. There were a number of IPOs such as Airbnb that had a great start. Bitcoin had a strong run, went down, and came back up. With more people working from home, home shopping boosted Amazon and online retailers.
The housing market was something this year. With mortgage rates at all time lows, a home sales just couldn’t keep up with the demand. More folks were allowed to work remotely and trends of people moved out of expensive areas. Home prices are up due to high demand and low supply.
As an investor, it was a great year to invest during the economic dive. The stock market took a hit but came back stronger to hit new highs. During one of the most economic crises, I sure didn’t expect that. I’m not at all complaining, just didn’t think it would be this strong. Depending what you invested in, you could have done really well this year. Here are some of the major financial moves I made this year.
Opened Two 529s
I opened 529 college investment plans for both my children. This was a great move because I opened them up when the economy was deteriorating. I am up over 35%! This was a great investment.
I refinanced my 15 year mortgage to a 10 year mortgage at 2.625%. Although I didn’t get the lowest rate possible, 2.625% is still pretty darn good. Less years and lower payments. It was a win win decision.
Knowing that the tech industry was going to play a huge role during the pandemic, I sold many of my “safe” stocks and bought Apple stocks. Behold, Apple started to rise and went through a 4-1 stock split. I consider this a great investment at the right time.
My Wife Achieved Early Retirement
This year my wife resigned from her federal government job and achieved early retirement. She didn’t quit working, just quit her day job to do other things she loves. She’s a health coach as well as an influencer and affiliated marketing. I love seeing her happy doing what she loves.
Started A Blog
If you’re reading this, thank you for visiting and reading this. I started this blog in 2020 during the pandemic. I felt that I had something to contribute. I learned so much about investing and finances, applied them to my life, and I can share what worked and what hasn’t. Please subscribe and keep visiting.
I’ve been busy in 2020. As I reflect back, staying up to date on current events has helped me out. I subscribed to Morning Brew to get my morning news. Click on my referral link to subscribe. I’m expecting 2021 will be just as interesting as 2020. COVID-19 vaccines will be distributed more and more. Joe Biden will take over as President. And I have a feeling that the economy will bounce back but we shall see. If you are interested in following my journey, email subscribe to get alerts of latest posts or follow me on Facebook.