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So Much Time, so Little to Do

Written by Jason Williams
Posted April 3, 2020

It’s the opposite of the issues most of us run into in life. Usually there’s far too much we need to accomplish and too little time to do it.

Now, many Americans find themselves stuck at home and running out of things to keep them occupied. Don’t believe me? Take a look at this 42,000-piece puzzle I found on Amazon. It costs over $1,300, won’t get to your house until May 21 at the earliest, and yet it’s still almost sold out:

Expensive Puzzle

People have a lot of time on their hands and are running out of things to do. So, I figured I’d take my space this week to give you some ideas of things you can do to keep yourself occupied and also make a little extra cash to help you through the hard times ahead…

What to Do? What to Do?

Obviously, the first thing you should be doing as an investor is making a list of stocks you want to buy when we actually get close to a bottom in the market.

You’re going to want to have value stocks on there, fundamentally strong companies that can weather any macroeconomic environment — low debt, lots of room on revolving credit facilities, solid stockpiles of cash, and good coverage of short-term obligations like interest, taxes, and dividends.

You’re also going to want to make a list of companies you want to get out of your portfolio. Around half of the S&P 500 component companies had no profits before coronavirus struck. If you think they’re going to have some right after, you’re sorely mistaken.

So, make your list of buys and add to it on down days. And make your list of sells and sell into the short-term rallies like last week that we’re sure to keep seeing.

But that only takes up so much time. If you try to spend all your time analyzing stocks, you’re going to start to fall victim to the dreaded FOMO, or fear of missing out. You’ll see stocks on your buy list rallying and start to get antsy about joining said rally.

But if you let those emotions guide you, you’re going to get caught in what’s called a bull trap, or as I prefer to put it, a sucker’s rally. That’s when stocks do an about-face after taking a beating and start to head back up as if everything is back to normal.

But it’s going to take a long time to get back to “normal.” Not days or weeks, but months at the very least. The world is shut down right now. It’s not going to just start right back up. And the market is not going to roar back to life like a “rocketship.”

Market crashes end in recessions, not V-shaped rallies. But there will be a handful of those suckers’ rallies. And you should get excited for them because they’ll give you an opportunity to sell off some stock into strength before the next leg down.

Something That’s Not Stocks

Okay, okay, I get it. All you’ve been thinking about for weeks is your portfolio and the coronavirus. You need a break. I totally understand. So, how about we cover some things you can do to save money while you’re waiting to see when the curve will flatten?

I know a lot of folks are wondering what the future holds for their jobs. Are layoffs coming? Are wages going to stagnate for a few years after all this? Is your company even still going to exist when this is all over?

Unfortunately, there’s not much you can do about that, but you can take some actions now to preserve the savings you have and make them last longer if the unexpected does happen and you’re one of the folks who gets laid off.

First things first, you should be contacting your landlord or lender to see if there’s any way you can defer your rent or mortgage payments.

My mortgage is serviced by Wells Fargo and the bank has already offered to let me apply to suspend payments. Your servicer’s process may be a little different, but here’s what Wells Fargo has to say about it:

If you’re not able to make your regular mortgage payment because of hardship related to COVID-19 (Coronavirus), Wells Fargo can help with a short-term suspension of payment. This means:

  • Your payments will be suspended for the next 3 months
  • We won't charge late fees
  • We won't report a past-due status for this account to the consumer reporting agencies
  • At the end of the initial 3-month payment suspension, we will guide you on the next steps which may include: a continuation of the payment suspension; moving the missed payments to end of the loan; or a modification to address longer-term financial changes that may impact your ability to keep up with the monthly payments
  • We will not take foreclosure activity during this period
  • If you’re in an active bankruptcy, we recommend you speak with your bankruptcy attorney to see what options may be available to you

And the form is simply three boxes to check. You send it in and within about a week, you should hear back from the bank.

Whether you pay rent or are paying off a mortgage, that’s something you should definitely spend some of your newfound free time investigating. Your landlord or lender is likely to prefer working with you to keep you as a tenant or customer rather than evicting or foreclosing.

Collect Your Bailout Check

This one isn’t going to take many of you any time at all. If you filed taxes for 2018 last year, or have already filed taxes for 2019 this year, you’re good to go.

If you gave the IRS your bank account information for 2018 or 2019 refunds, then they’ve got it for your stimulus check and will deposit it directly. Those should start hitting accounts on April 17, according to Steve Mnuchin.

If you don’t have direct deposit information on file with the IRS, they’ll mail a check out to the address they have on your last tax return. But if you want to get it faster, they’ll be debuting a new website shortly where you can enter or change your direct deposit info.

Now, if you haven’t filed taxes for 2018 or 2019, you’ll need to do a little work. People who receive Social Security benefits and aren’t required to file should be OK. But anyone making below the minimum filing threshold who wants to get a check needs to retroactively file for 2018.

You can do that on just about any web-based tax service like H&R Block or Taxslayer. And since it’s a very basic filing, you’ll most likely be able to do it for free.

Now, let’s get into some other things you can do while you’re stuck at home that are a little less commonly discussed.

Side note: I’ve pulled these directly from the pages of my new book, Endless Income:

twa endless income report book

You can get your very own FREE copy by clicking right here. 

Try the 372-Year-Old Investment Technique That Never Fails in a Down Market

In 2019, the markets ended the year looking like it would be a rosy 2020. But you never really know when the next market correction or all out crash is just around the corner. And we found out the hard way that statement couldn’t be truer.

Watching so many millions of dollars evaporate in the blink of an eye in 2008 and then watching tens of trillions being erased in a few weeks this year reinforced the value of this 372-year-old investing trick.

It never fails in a down market and it can keep a roof over your head while everyone else is out in the streets. It takes a little more guts than most investments because your losses can be limitless, but the rewards are phenomenal.

Boost Your Banking by a Whopping 3,483%!

How much does your bank pay in interest? If you’re like most people, it’s a tiny fraction of a percent. But it doesn’t have to be!

With all the extra time you’ve got on your hands, right now might be the best time ever to take a look at your bank account and see how much your bank values your money. If it’s not treating your money well, then you should take this time to move it somewhere that will…

Somewhere like “The Billionaire’s Bank Account.” Then you can make serious cash from your cash with no minimum deposit!

There’s been a huge disconnect between the money banks make lending money and the money they pay for using it. You can get a mortgage for around 4% interest, but you can only earn a fraction of a percent for lending your money to the bank.

That was until my former employer’s biggest competitor stepped in. Now you can get rates thousands of percent higher than your average savings and loan, and your money will still be 100% insured against loss.

Get a $14,000 “Rebate” on Your Taxes by Checking One Box

We just talked about filing those taxes to make sure you get your stimulus check, but there are tons of other ways to use your tax forms to get some money out of Uncle Sam.

What if I told you there was a way you could easily shave thousands off your IRS bill this year? Most accountants would never tell you about this trick — because it dramatically simplifies your taxes.

But just by checking one little box on your tax form, you can instantly clock $14,000 in IRS-protected income.

The Ticket to Your Dreams

There are a handful of things you can do to help yourself and take up some of that excessive amount of free time you’ve recently gotten. But those are just a few of the things you could be doing with all your spare time.

There are 60+ additional tips and tricks for generating more income, keeping more of that money in your bank, and spending less while still living a luxurious lifestyle in my book Endless Income.

golden ticket

Not only will they help you maintain your sanity, but they’ll also help you stay solvent through the worst recessions and come out on the other side richer and happier than ever.

Because I know that the months ahead are going to be very difficult and I want to make sure everyone has the strategies they need to not just survive, but thrive, I’ve convinced the powers that be (the owners of Angel Publishing, our parent company) to let me give out free copies of the book to our loyal readers at Wealth Daily.

I was only allowed to reserve a limited number, however, because we could easily sell this book for over $100, and while we’re here to help, we’re also not a charity. So, if you want to claim your 100% FREE copy of Endless Income, you’ll have to act fast.

Click this link and you’ll find out how to secure your copy right now so that you can start using the tips and tricks I picked up in my years on Wall Street helping millionaires become billionaires.

But as I said, copies are limited, and there’s already been a strong response, so I’m running out of free copies. Once they’re gone, I’ll have to charge the regular price for anyone who still wants one.

I want you to have yours free, and I want you to get it right now. So, please, don’t delay.

Click here now and reserve your FREE copy of Endless Income before they’re all gone.

I’ll be back next week with some more actionable advice on how to prosper in the hard times ahead.

To your wealth,

jason-williams-signature-transparent

Jason Williams

follow basic@TheReal_JayDubs

After graduating Cum Laude in finance and economics, Jason analyzed complex projects and budgets for the U.S. Army. Then, at Morgan Stanley, he led the assistants' team for the North American repo sales desk, responsible for hundreds of multibillion-dollar trades every day. Jason is an editor for The Wealth Advisory income stock newsletter. He also contributes regularly to Wealth Daily. To learn more about Jason, click here.

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