Looking on the bright side even when it’s hard to see it.

THE BRIGHT SIDEMarket update

Closing out Q2 2020

SNAPSHOTLife happens and

plans chage.

YOUR GOALS

see more on page 2full story on page 1 read more on page 3

COVID-19-RELATED FINANCIAL ASSISTANCEMany people are still struggling emotionally and financially. What many don’t know is that aside from the stimulus checks and unemployment pay, there are some other options out there.

SWEET SUMMER LEMON PIE RECIPELooking for a sweet summer treat? This lemon pie is light, creamy, sweet and tart. It’s perfect for a summer day!

ON THIS DAY: HEADLINES THROUGHOUT HISTORYTake a look back at news that made headlines throughout the decades. Including July 2, 1937, when the infamous Ameilia Earhart goes missing.

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S U M M E R 2 020 N E W S L E T T E R

WWW.DSTFINANCIALSERVICES.COM

617-290-5965

AN UPDATE FROM DST FINANCIAL SERVICES

On Memorial Day, I was reminded of a story about a child living through the Battle of Britain.

It’s 1940. The Nazis are intensifying their bombing attacks on London during nightfall and the city is facing a harsh reality

with the anticipation of indiscriminate destruction and the very real potential for sudden death. In this extraordinary

time a boy is asked an ordinary question: “What do you want to be when you grow up?” Rather than offering the typi-

cal reply of “pilot, policeman, or soldier”, the boy responds, “alive.”

Having just commemorated Memorial Day during the COVID-19 pandemic, that incident is likely to strike a chord with

many of us. When honoring the sacrifices of those on the frontlines of war, health care providers or our first responders,

the question arises: how do we explain the current state of our world to children who are bombarded with intense im-

ages of suffering and death?

Children are accustomed to the joy that accompanies summertime – barbeques, camps, pools, sports and friends.

With COVID-19, this freedom, and that of childhood overall, has been abruptly and unsparingly disrupted. We all have

encountered an unprecedented, complex, and unrelenting adversary that has wreaked havoc in countless ways. The

fragility of life and its accompanying unknowns are deeply challenging for many adults to comprehend. This feeling is

even more profound and the confusion heightened for our children.

Are our children hoping to progress to adulthood, like that of the boy facing nightfall in World War II London? If this is the

case, do we have the potential to focus on the positive and enduring life lessons as a consequence of this current era

of uncertainty?

Upon reflection, I have observed and admired characteristics among leaders, especially in times of adversity, that

have applicability and can be practiced today, including (and not limited to):

• GRATITUDE. With a daily habit of recognizing life’s gifts, especially the people who make our world a better place,

life’s bountiful opportunities are more likely to shine.

• RESILIENCE. Never give up. Our soldiers, health care providers and first responders embody resilience. We owe it to

ourselves and those around us to make every effort to emulate their example.

• ADAPTABILITY. Adaptability and resilience are interconnected. Develop and grow skills to adjust, and even flourish,

in the varied circumstances that present themselves over the course of life.

• EMPATHY. Heroes make sacrifices because they value and respect others. “Treat others as you would want to be

treated.”

• LOVE. Love is what imbues these characteristics with their power and significance. Those closest to us, who we

love, remind us when we neglect to incorporate these characteristics and celebrate when we do.

• OPTIMISM AND FAITH IN THE FUTURE. We owe it to go forward with the attitude best expressed by Winston Churchill:

“For myself I am an optimist—it does not seem to be much use being anything else.”

Dan

ON MEMORIAL DAY I WAS REMINDED OF A STORY

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SNAPSHOT OF THE FINANCIAL MARKETS CLOSING OUT Q2 2020

The year 2020 has been an emo-

tionally challenging one for inves-

tors across the globe thus far. The

United States entered this year set-

ting new all-time high records - all

the while hearing murmurings of an

emerging public health threat. While

the United States economy broke re-

cords week after week during the first

two months of the year, other global

giants experienced sharp downturns

as the threat of covid-19 materialized

across Asia and Europe. The WHO

along with global leaders decided

that the most effective way to slow

the spread of COVID-19 was to im-

pose strict social distancing measures

coupled with a near total shut down

of the economy. Shutting down the

economy initially proved to be an

effective way to slow the spread of

virus but unfortunately what followed

as a side effect was the beginning of

the fastest recession in modern stock

market history. The US stock market in-

dices dropped nearly 30% in a matter

of weeks – hitting the current bottom

on March 23rd, ultimately finishing

down -20% at the end of Q1.

Since the March lows, the US stock

market has seen the sharpest recov-

ery from the March 23 lows in his-

tory. The key drivers of this recovery

have been unprecedented levels of

fiscal stimulus from the Federal Re-

serve coupled with the FAANG stocks

(Facebook, Apple, Amazon, Netflix,

Google) along with the rest of the

NASDAQ stocks that proved to be

resilient during a quarantine envi-

ronment. Other contributions to the

quick recovery include consolidation

in the energy markets, positive data

regarding consumer spending, and

positive news regarding the develop-

ment of a COVID-19 treatment. The

S&P 500 is currently still down nearly

3.5% year to date. Although the US

is still far from having a reliable treat-

ment at this time – experts believe

that we will have a vaccine in Q4 or

Q1 of 2021.

As Q2 approaches its end, news is

emerging of a renewed growth of

COVID-19 cases globally as well as

in the US. The consensus in the US is

split down the middle as to what is

causing the sudden uptick in cases

per day. Some argue that our testing

capacity is becoming more efficient

causing us to discover cases quicker

than before. Others argue that the

uptick is caused by premature re-

openings in the states that are expe-

riencing the said surge. The financial

markets have not yet been adversely

impacted by the news of new cas-

es. The White House reiterated their

stance multiple times that the US will

not shut down its economy for a sec-

ond time – these statements provid-

ed fuel to the upside for the financial

markets. The consensus on Wall Street

is grappling with understanding and

explaining the current state of the

financial markets. One side of the

street believes that the markets will

prove resilient, the other side believes

that the current recovery is caused

by widespread euphoria and influx

of retail investors and they expect

a near term correction as a result of

considering fundamental data in the

near term.

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LOOKING ON THE BRIGHT SIDEEVEN WHEN IT’S HARD TO SEE IT

Obviously, the COVID-19 pandemic has been an un-

precedented global health crisis. And while the

negative aspects of this time in history is unparalleled, the

need to find the positives in the midst of all the bad news

is even more critical. If the stress of these times is putting

you in a slump, please take a few moments to consider the

positives.

Time

More time to spend with family is the best outcome of the pandemic. Enjoying your children and reaffirming the

importance of family is a truly positive consequence.

Money Saved

The quarantine has made us all spend less. While not being able to go out to eat or take in a movie or concert

is a bummer, it sure has helped everyone’s savings!

Projects Completed

The satisfaction of finally getting the basement cleaned up, the garage cleaned out and those pesky household

repairs completed, can be exhilarating.

Appreciation of our Elders

Losing our parents and/or grandparents is a reality we all have thought about during these times. The realization

of how much we love them and would miss them is a good thing to acknowledge.

Igniting Creativity

Whether it is cooking, writing, drawing, painting or taking up a new craft, the opportunity to explore creative

endeavors is refreshing, and for most of us, long overdue.

Cleaner Planet

The lack of travel has greatly reduced pollution and made the planet a little cleaner. It also has shown that we

have the power to bring about positive changes to the environment.

Gratitude

These times have put in perspective many of the little – and big - things we all have taken for granted. Perhaps

when this is all over, we will move forward with a better realization of how much we all have to be thankful for!

While these things cannot replace the loss of a loved one or the stress of being out of work, it is worth noting that perse-

verance and looking to the future with hope is what will see us all through!

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RE-EVALUATING YOUR GOALSAFTER COVID-19

LLife happens, and plans change. We can’t always con-

trol the circumstances around us, but we can control

how we react to changes.

Have you been laid off due to COVID-19? Do you expect

to go back to work soon or will it be awhile? Has the stock

market roller coaster hurt your bottom line? Perhaps some

of your goals are in need of a reset due to the current envi-

ronment we are living in.

Here are a few things to think about when reassessing your

goals:

• Review the goals you had already set for yourself and

determine which ones are still able to be pursued.

Perhaps you need a complete restart or just a longer

timeline to get there.

• If necessary, adjust those goals you are in the midst of

pursuing to reflect any changes that need to be made

due to current circumstances. Adjustments may be

minor or a more complete revision may be necessary.

• Your current financial situation will determine your abil-

ity to meet your goals. Evaluate which can be kept

and which goals need to be modified or tossed out

completely.

• Write out the steps that you need to take in order to

work toward your new, modified goals. Have a plan

and stick to it!

• Perhaps your goals are still attainable but your sched-

ule to meet them needs changed. Be sure to account

for changes in your timetable.

• Act on carrying out your goals. You may need to

change your habits and tighten your belt a bit, but

continue marching toward your goals one step at a

time.

Your financial advisor can help you through rocky times. If

you would like to review your finances and your financial

goals, please reach out today!

COVID-19 RELATED FINANCIAL ASSISTANCE

All Americans are living in a post

COVID-19 world - we are wear-

ing masks in public. Restaurants, gym,

and theaters are still under strict guide-

lines, and the handshake seems to be

a thing of the past. There are many

people out there that are still struggling

emotionally and financially. A stimulus

check from the federal government

helped earlier this year, and many are

collecting unemployment. Even after

all this relief the bills and stress can still

add up.

What many don’t know is that aside

from the stimulus checks and unem-

ployment pay, there are some other

options out there. The Families First

Coronavirus Response Act can provide

up to two weeks of paid leave for quali-

fied workers. To be qualified, you would

be unable to work under quarantine

order, have coronavirus symptoms

and are seeking diagnosis, be caring

for a sick family member, or must care

for a child with no school or daycare

provider to attend because of closure.

Some states are also holding open en-

rollments for health insurance. There is

a possibility that you could qualify for

Medicaid if you are struggling to find

health care.

During these tough times, some of your

monthly payments can be suspended.

Some utility companies are suspending

service disconnections. You can reach

out to them directly to find out if you

qualify. At the same time, rent and

mortgage payments can be put off.

Some borrowers will be able to request

payment reprieve for up to 12 months.

Renters in some states are subject to a

90-day eviction ban if they can’t pay

their rent. Also, federal student loan

interest has been suspended through

September 30th 2020. There is also the

CARES Act that went into effect, which

pushes tax filing and payment back to

July 15th, among other things like waiv-

ing the requirement to take a RMD and

increasing loan amounts from 401ks.

Above all else, please remember that

your financial advisor is always there

to help you through these rough times.

You should be reaching out to them

with any questions and concerns you

have about your personal finances

and the options out there to help you

during this pandemic.

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CRUST

1 ½ cups crushed graham crackers

6 TB butter, melted

1/3 cup sugar

PIE FILLING

2 (14oz) cans Eagle brand sweetened condensed milk ( about 2 ¾ cups)

3 egg yolks

2/3 cup lemon juice

1 dash salt

WHIPPED CREAM

1 cup heavy cream

1/3 cup powdered sugar

1 tsp vanilla extract

DIRECTIONS:

1. Preheat oven to 350 degrees

2. For the crust: Spray a pie dish with a non-stick spray. Combine crushed

graham crackers, butter and sugar. Press into prepared pie plate and

bake for 8 minutes

3. For the Pie Filling: Using a mixer, mix the condensed milk, egg yolks, lem-

on juice and salt together. Beat on medium speed for 4 to 5 minutes.

Pour into pie crust and bake for 10 minutes at 350. Little bubbles will

start to surface. Cover the crust if it starts to brown too much towards

the end.

4. Chill in the refrigerator for at least an hour before serving.

5. For the whipped cream: Mix the cream, sugar and vanilla. Whip until

fluffy and add to cooled lemon pie

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SWEET SUMMERLEMON PIEThis lemon pie is light, creamy, sweet and tart.

It’s perfect for a summer day!

Recipe adapted from Magnolia’s lemon pie.

June 26, 1998 - Windows 98 Released1998 : Microsoft has released its latest version Windows 98 and one of its key new features is the plug in capabil-

ity of video cameras, games machines and other plug and play peripherals.

June 28, 1999 - U.S.A. Trillion Dollar Surplus1999 : Following nine straight years of economic growth in the US, the US Government says that its budget

surplus will be $1,000bn which it plans to use for strengthening Medicare and paying off some of the countries

$3,700bn national debt. The current National debt is $9.0 trillion or $90,000.0 billion or nearly 24 X what it was in

1990 just 9 years ago.

June 29, 1936 - U.S.A. Drought Midwest1936 : Following the severe drought in the Midwest with a continuing lack of rain in the corn belt many fear

soaring food prices.

June 30, 1953 - U.S.A. The Corvette1953 : The first all-fiberglass-bodied American sports car, the Corvette was produced on this day and with it’s

sleek lines is among the best car design ever produced by the American Car Industry.

July 2, 1937 - Amelia Earhart Goes Missing1937 : Amelia Earhart and her navigator Frederick Noonan go missing during their attempt to fly around the

world between New Guinea, and Howland Island, an island in the center of the Pacific Ocean. No trace of the

aircraft including Earhart or Noonan was ever found.

ON THIS DAYHEADLINES THROUGHT HISTORY

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Registered Representative, Securities offered through Cambridge Investment Research, Inc., A Broker/Dealer, Member FINRA/SIPC and Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Invest-

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We are on our own, but not alone.