Insights

Before you delete this, read the first three paragraphs.  This is not another corporate, boiler-plate email telling you we are washing our hands, and taking precautions.  We are doing everything recommended to stay safe, but that’s not the point of this message.

As we write this on March 9th, it is the 11th anniversary of the global panic attack that marked the bottom of the Bear Market of 2007-09. Isn’t it a bit ironic that, on this anniversary, we are marking it with another global panic attack?

There are a few specific challenges, and therefore specific solutions, that I see millennials facing. Let’s imagine a conversation I might have with this hypothetical 20- or 30-something, and look at some financial advice for millennials. 

While there is no way to fully predict what will happen next, it’s important to remember the goals of your investment portfolios. Long-term investments face volatility, and to pursue your long-term goals, it’s vital to not overreact to one day, one week or even one month of market movement.

I like every part of the presentation experience. Meeting the clients is motivating. I enjoy sharing what recently happened in markets, speaking to the current situation, and educating clients about future opportunities and risks. What I enjoy most is answering clients’ questions.

Have you thought about your legacy? We highly recommend that you appoint a trusted family member or friend as your power of attorney (POA), giving them the ability to help with your financial or health needs, should an unfortunate event occur in your life.

On Friday, January 17 – after a spectacular 40% runup that started the day after Christmas 2018 – the Standard & Poor’s 500-Stock Index closed at 3,329 (source: Yahoo Finance).

Giving is an important part of our society. It provides us the opportunity to support causes we believe in and make a positive impact. Giving isn’t always about donating money. It can also include volunteering time or donating goods and resources. Here are some examples of the impact:

Your Health Savings Account (HSA) is a cornerstone of your benefits planning. The money is triple tax-advantaged – contributions, growth and withdrawals for qualified expenses are not taxed. This account is like nothing else, and you need to take full advantage of it. 

But when the SECURE Act goes into effect – expected on Jan. 1, 2020 – beneficiaries will have to fully distribute taxable accounts within 10 years of the account holder’s death. That could push your loved ones into a higher tax bracket.

As you move toward retirement, you can’t be content just to accumulate assets. You need to develop a retirement income plan that can help guide you when it comes time to turn savings into sustainable retirement income.