Hindsight is always 2020
What a rollercoaster! The past few months have seen the fastest drop in the market in history and the fastest recovery of its type in history. Hang on for the ride.
A feeling of satisfaction
As I write this, I feel pretty positive about my clients and I am grateful for the trust that each and every one places with us in assisting with their planning. Not one single client panicked or sold during the past turmoil. We prepared for those who needed money this year by putting cash aside when the market was up in January.
We did make adjustments where needed and some people who were fortunate enough to have cash when the market was low did benefit by investing and seeing that money grow.
Despite what might appear on the news daily, the reality of account balances for our clients tells a story. Obviously not everyone has the same risk tolerance, but there is a pretty good range that most people fall into when talking about retirement money.
I have been monitoring closely what our client accounts look like and despite the yo-yo market, here is the range that most of the accounts fall in to:
Since January 1st 2020 – down between 1% – 3.5%
Since March 31st 2020 – up 12% – 16%
Since December 2018 – up between 8% – 17%
What to expect looking forward
We expect the rollercoaster to continue going forward as we face turmoil with business and jobs transitioning, the fluctuations with what is happening with COVID, as well as the upcoming elections and the anticipations of the impact on the economy of the election results.
“Hang on to your hats and glasses” as they say in Disneyland, we may be in for a bumpy ride.
We do not profess to be able to predict what the market will do in the near future. Could there be a “2nd wave”, could it be a “V-Shaped or U shaped” recovery? Nobody really knows, but we are positive about the long-term outcomes for our clients if they have a properly diversified portfolio in place based on each family’s plan according to their own situation and timing.
Let’s Talk
Please feel free to contact me if you would like to discuss how we can help you with your family’s plan either in person, over the phone or on Zoom
About Dave
Dave Coen is a Financial Advisor with SageView Advisory and the CEO of College Planning America. Along with his retirement financial industry experience, he is a College Planning Specialist. He works closely with individuals and families to provide comprehensive financial planning that addresses all elements of their financial picture. Learn more by connecting with Dave on LinkedIn.
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SageView Advisory Group, LLC is a Registered Investment Adviser. This message is for informational purposes only and is not a solicitation to invest. Advisory services are only offered to clients or prospective clients where SageView Advisory Group, LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future results. No advice may be rendered by SageView Advisory Group, LLC unless a client service agreement is in place. CA insurance license #0G82578
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