Markets took a breather from the summer rally as major indices pulled back in August.

Stocks continued to have fun in the sun as markets extended their summer rally.

Broadly positive sentiment throughout the month helped major US indices climb higher. Small-cap stocks led the way for the second straight month with the Russell 2000 soaring 6.06%. Powered by stronger-than-expected earnings and improving economic data, the Nasdaq, Dow Jones Industrial Average, and S&P 500 posted gains of 4.05%, 3.41%, and 3.30% respectively. The Dow even decided to party like it was 1987, logging its longest winning streak in decades with 13 consecutive positive days.

Coming off one of the worst years in recent history, it’s no question 2023 has been a better year for the markets so far than 2022. Overall, we’ve seen a positive skew among most asset classes, compared to mostly negative data last year. However, as is often the case, not everything is up equally. But it may come as a surprise as to the significant discrepancy between the leaders and laggards this year, a situation that can make being a smart, well-diversified investor frustrating in the short-term.

Buy Low & Sell High is the age old investment advice, however picking the low time to buy a stock is an extremely difficult task to accomplish.

The Top 3 Questions to Ask.

Oftentimes when we meet with clients there are a few common questions or topics that tend to come up regularly - things that seem to be on the minds of many of our clients. Usually, it has to do with some event or circumstance that is relevant at the time. In 2022, that question has revolved around the idea of “should I change the level of risk in my investments considering what is happening in the market.”

My favorite part of working as a wealth manager is the array of questions from our clients during all market environments.

However, times of market volatility are generally when the most impactful questions come up. This is due to the emotions that go hand in hand with market volatility.

How much should you really be saving for the retirement future you envision?

Making sure you have enough money saved for retirement is one of the top concerns for those of us not independently wealthy. In a perfect world, we will figure out how much we need to live on by calculating our monthly and yearly retirement expenses, factoring in inflation, and computing any additional income like Social Security.

Why are they made again and again?

Much is out there about the classic financial mistakes that plague start-ups, family businesses, corporations, and charities. Aside from these blunders, some classic financial missteps plague retirees.   

Calling them “mistakes” may be a bit harsh, as not all of them represent errors in judgment. Yet whether they result from ignorance or fate, we need to be aware of them as we plan for and enter retirement.        

Leaving work too early. As Social Security benefits rise about 8% for every year you delay receiving them, waiting a few years to apply for benefits can position you for higher retirement income. Filing for your monthly benefits before you reach Social Security’s Full Retirement Age (FRA) can mean comparatively smaller monthly payments. Meanwhile, if you can delay claiming Social Security, that positions you for more significant monthly benefits.¹       

Here is what you need to know.

Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines.

Some things to consider.

During your accumulation years, you may have categorized your risk as “conservative,” “moderate,” or “aggressive,” and that guided how your portfolio was built. Maybe you concerned yourself with finding the “best-performing funds,” even though you knew past performance does not guarantee future results.

What occurs with many retirees is a change in mindset – it’s less about finding the “best-performing fund” and more about consistent performance. It may be less about a risk continuum – that stretches from conservative to aggressive – and more about balancing the objectives of maximizing your income and sustaining it for a lifetime.