Happy Spring!
Luke’s first T-Ball practice & Logan looking too cool for school!
Decisions, Decisions
Every day we are faced with hundreds of decisions. Most of them are pretty minor. Medium roast or light roast coffee? Take the highway to work or back roads? Cook dinner or get takeout? You get the idea. However, there are other decisions (I’m talking more so financial) that aren’t as minor and are sometimes scary to think about, so we put them off till the next day, and then the next month, and then the next year…
Am I saving enough for retirement?
Is my investment strategy correct?
Should I take Social Security at 62 or 66 or 70?
Should I do this myself or work with a financial advisor?
You may have the same questions, or completely different questions, but I think there is a common theme no matter what your questions are:
Do you have 100% confidence in the financial decisions you are making?
If you don’t have confidence, ask yourself if it would be a prudent decision to get a second opinion from a trusted professional. You wouldn’t think twice to go to the doctor or dentist if you had a medical ailment or toothache, or maybe even a question or concern about your health. Why do we sometimes treat our financial health different?
Our health and our wealth are two of the most important aspects of our lives. If you are unsure, not confident – or even if you are but just want confirmation – we would welcome the opportunity to help, if we can.
At your convenience, you are welcome to sit down and share some of your financial goals and objectives and hopefully we can provide some clarity on if you are on track, or if an alternative strategy might suit you better.
“The quality of your life is built on the quality of your decisions.” – Wesam Fawzi
The Only Logical Progression – Goals, Plan, Portfolio
How should you position your portfolio given the current state of the stock market, economy and current events?
As I write, the stock market is hovering around all-time highs and interest rates are close to a 20-year high. That part sounds fantastic, but what about the multiple wars happening across the globe? How about dealing with the stubborn inflation here in the U.S. and all of the high prices we have been experiencing because of it? What about the election this fall and the ramifications on who controls the White House for the next 4 years? How do we make investment strategy for our portfolio based on these factors?
Well, I would like to share with you the approach we take here at MtM. First, I would suggest not to base your investment strategy and portfolio on any of the factors I mentioned above.
Instead, I would recommend the first and most important thing is for you to get a complete understanding of your most cherished financial goals – what, and who, you’re investing for.
A cabin on the lake someday is not a financial goal.
Quantifying how much wealth you will need to fund a 30-year retirement comfortably, while still leaving a legacy behind to those you love is a financial goal.
Determining how much capital you will need to fund all of your children’s or grandchildren’s college tuition in 15 years from now is a financial goal.
Once you have an idea of your financial goals, we need to understand how much time you’ve got in which to accomplish those goals, and what resources you bring to the effort. So, for example – how much do you realistically need to save every month over the next X number of years to reach your target if you have already accumulated Y?
Then, together, we develop an investment strategy: a plan for reaching your goals. Then, and only then, I design a portfolio which, at long-term historical rates of return, will get you where you need to go.
As you can see, this approach is always goal-focused and planning-driven, rather than being based on some attempt to outguess the economy or the markets or today’s current events.
The portfolio is the tail, and the goals and plan are the dog.
We must never make the mistake of letting the tail wag the dog.
“A goal without a plan is just a wish.” – Antoine de Saint-Exupery
Thank you for being my clients, it’s a privilege to serve you.
Until next time,
Jon Weimer
Variable annuities are long-term investments suitable for retirement funding and are subject to market fluctuations and investment risk, including the possibility of loss of principal. Annuity guarantees, including guarantees associated with benefit riders are subject to the claims-paying ability of the insurance company. Surrender charges may apply if money is withdrawn before the end of the contract.
Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance is no guarantee of future results. Please note that individual situations can vary. Therefore, the information presented here should be relied upon when coordinated with individual professional advice. This information is not intended to be a substitute for personalized financial planning, tax planning, or legal advice.
Securities offered through The Strategic Financial Alliance Inc. (SFA), Member FINRA, SIPC. Advisory and tax services offered through MtM Financial Group, LLC which is otherwise unaffiliated with SFA. 4505 Hanoverville Road, Bethlehem, PA 18020. SFA does not provide tax or legal advice. Supervising office 888-447-2444.