Happy autumn, everyone! The leaves are starting to turn here in Upstate NY, and there’s a chill in the air. We are gathering the last of our summer bounty from our gardens and preparing to store it for winter. I am excited to try a new “no-peel” slow-cooker marinara sauce recipe!
With the change of seasons comes…
Employer-Sponsored Retirement Plan Meetings
If you participate in one of our employer-sponsored retirement plans, you are going to want to schedule a time to chat with one of the registered representatives in our office. It is important to make sure that your beneficiary designations are up to date, make any changes to your payroll deduction (if applicable), and review your investment allocation. Some employers schedule on-site visits in the autumn. For those who do not, please feel free to call our office and ask to schedule a phone call or virtual meeting.
If you typically do charitable giving at year-end, we are recommending that you get started earlier this year. Last year we experienced slower than normal processing times with all our sponsor companies. We believe this resulted from an increased number of their employees working from home but also staffing shortages. Although these companies appear to have added staff over the course of the last year, we want to give them ample time to process your charitable donations as well as your Qualified Charitable Distributions. The closer we get to year-end, the less confident we are that these companies will be able to guarantee that the transfers are completed before the 12/31 deadline.
I know this seems scarier than your neighbor’s Halloween decorations. While many of us are seasoned investors who have been through market contractions before, no two cycles are the same. As of this writing, the S&P 500 is down over 20% year-to-date, retracing all the gains made during the summer. Certain types of bonds have fared better but are still down from their 2021 highs. They are providing some cushion against stock market declines, but the S&P US Aggregate Bond Index, for example, is down 11.59% year-to-date as of this writing. By the numbers, however, this is looking better so far than 2008 when the S&P 500 closed the year down over 40%.
As financial planners with a focus on income distribution planning, retirement planning, and tax mitigation, we continue to review your allocation, long-term investment returns, and portfolio construction with each of you in the context of your personal financial plan. Even in a market and economic environment like the present, we can still help you to adapt and make sure that your investment capital can sustain you throughout your retirement.
If you have questions about any of this, please contact our office and speak with an advisor about your personal financial plan.
Securities America, Inc., Member FINRA/SIPC. Securities offered through Securities America, Inc. Member FINRA/SIPC. Advisory services offered through Securities America Advisors, Inc. This material is not intended to replace the advice of a qualified attorney or tax adviser. Before making any financial commitment regarding the issues discussed herein, consult with the appropriate adviser.