Weekly Market Notes – October 7, 2019

Weekly_Market_Notes

For the Week of October 7, 2019

The Markets

Stocks rose Friday following a September jobs report that hit the sweet spot. The Bureau of Labor reported 136,000 jobs were added – enough to dampen recession fears but not enough to diminish expectations of a rate cut when the Federal Reserve meets later this month. The Dow and S&P still fell for their third straight week. For the week, the Dow fell 0.88 percent to close at 26,573.72. The S&P lost 0.30 percent to finish at 2,952.01, and the NASDAQ climbed 0.54 percent to end the week at 7,982.47.

Returns Through 10/04/19 1 Week YTD 1 Year 3 Year 5 Year
Dow Jones Industrials (TR) -0.88 16.06 2.23 16.25 12.04
NASDAQ Composite (PR) 0.54 20.30 1.31 14.70 12.27
S&P 500 (TR) -0.30 19.59 3.83 13.39 10.70
Barclays US Agg Bond (TR) 0.81 9.35 12.00 3.30 3.46
MSCI EAFE (TR) -2.16 10.74 -1.57 5.76 3.50

Source: Morningstar.com. *Past performance is no guarantee of future results. Indexes are unmanaged and cannot be invested into directly. Three- and five-year returns are annualized. The Dow Jones Industrials, MSCI EAFE, Barclays US Agg Bond and S&P, excluding “1 Week” returns, are based on total return, which is a reflection of return to an investor by reinvesting dividends after the deduction of withholding tax. The NASDAQ is based on price return, which is the capital appreciation of the portfolio, excluding income generated by the assets in the portfolio in the form of interest and dividends. (TR) indicates total return. (PR) indicates price return. MSCI EAFE returns stated in U.S. dollars.

Planning Ahead — 77 percent of private sector workers had access to and participated in employer-provided retirement benefits in March 2019. 91 percent of public sector workers, i.e., government workers, had access to and participated in employer-provided retirement benefits in March 2019 (source: Department of Labor, BTN Research).

Did You Know? — The Social Security retirement benefit of the lower paid spouse in a couple where both spouses worked is equal to the greater of the retirement benefit based upon the lower paid spouse’s work history or 50 percent of the higher paid spouse’s retirement benefit (source: Social Security, BTN Research).

It’s Time to Review — Medicare covers 59.9 million Americans, equal to two out of every 11 Americans. Medicare’s annual open-enrollment period starts Oct. 15 and runs through Dec. 7, allowing participants to make changes to their Medicare coverage. Plan options are available online on the medicare.gov website beginning Oct. 1 (source: Medicare, BTN Research).

 

WEEKLY FOCUS – October Is National Cybersecurity Awareness Month

We take our internet-based devices with us wherever we go. This constant connection has transformed our lives, but it also creates opportunities for cybersecurity threats that can compromise our important personal information. Since October is designated National Cybersecurity Awareness Month, here are a few steps to protect your identity:

Use Wi-Fi wisely. Change your home Wi-Fi password occasionally. If you need to share your Wi-Fi with guests, provide guest network access instead of sharing your password. Before using public Wi-Fi, verify the network name and exact login procedures, and avoid sensitive activities that require passwords or credit cards.

Don’t trust strangers. In public spaces, beware of individuals listening to conversations or viewing your screens. Don’t share specific personal information on social media – like your full name, address, birthday, mother’s maiden name or vacation plans. Disable location services that let anyone see where you are. Only shop secure sites that begin with https://.

Trust your suspicions. If an email doesn’t feel right – even if it says it’s from someone you know or a business you deal with – don’t respond and don’t click any links or attachments. When in doubt, contact the sender directly and ask if they sent it. NEVER click on an email link to reset a password.

Stay current. Google your name and delete old, unused accounts that come up. Use the latest security software, web browser and operating systems – sign up for automatic updates when you can. Back up data to the cloud or an external hard drive in case your device is stolen or compromised.

Keep tabs on your apps. Only download apps from trusted sources. Set your mobile device permissions to “rule of least privilege.”

Beef up your logins. Consider using a password phrase including spaces that’s unique to you. You might use the same phrase on different sites but add different symbols and numbers at the end. Consider adding two-factor identification.

To discuss more ways to secure your financial and personal information, call our office. We can help you develop a strategy to keep your information, and your finances, as secure as possible.

DWM Plan Well logo

* The Standard & Poor’s 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. The Morgan Stanley Capital International Europe, Australia and Far East Index (MSCI EAFE Index) is a widely recognized benchmark of non-U.S. stock markets. It is an unmanaged index composed of a sample of companies representative of the market structure of 20 European and Pacific Basin countries and includes reinvestment of all dividends. Barclays Capital Aggregate Bond Index is an unmanaged index comprised of U.S. investment-grade, fixed-rate bond market securities, including government, government agency, corporate and mortgage-backed securities between one and 10 years. Written by Securities America, Copyright October 2019. All rights reserved. Securities offered through Securities America, Inc., Member FINRA/SIPC. SAI#2763443.1

FAFSA 2020-2021

Changes to Federal Tax Forms From 2017 Tax Changes Impacts Preparation of Free Application for Federal Student Aid (FAFSA)

Beginning October 1, 2019, applicants will be able to file for the 2020-2021 FAFSA using information from your 2018 tax return. In previous years the IRS Data Retrieval Tool would be able to import data from the parent & student Federal Income tax return. The new 1040 form eliminated the existing IRS forms 1040A and 1040EZ and added a set of schedules, for those tax returns requiring more information. As usual, the left hand doesn’t talk to the right hand. So, the changes to the tax forms have not been incorporated into the FAFSA application and Data Retrieval Tool. This creates confusion and new questions on the 2020-2021 FAFSA process, that if answered incorrectly may affect the Expected Family Contribution (EFC) and therefore the amount of aid the family may receive.

If you would like more information on this issue or help in preparing your FAFSA for next year give us a call at 973-771-5120

October Monthly Outlook – The Right Question

The right question, at this stage, is not if we will have a recession in the US, but when.  The right time to prepare for potential difficulties in the economy and financial markets is when conditions are still good – like now.

The current US economic expansion entered its 11th  year in July 2019, the longest expansion in history.  However, starting in June 2019 the US economy is showing signs of slowing. This can be seen in the chart below, which shows the LEI leveling off over the last few months. Economic indicators around the world continue to point to a slowdown in the global economy as shown in the Organization for Economic Cooperation and Development LEI chart.

It’s not time to sound the alarm – yet.  The US remains the “cleanest dirty shirt” with economic growth slowing to around 2% per year.

Specifically, I’m watching job growth, which has slowed over the last 3 months.  We get the September jobs report on 10/4. I’m also watching how the trade wars are affecting sentiment.  In September, consumer confidence fell sharply, with a near record one-third of consumers surveyed negatively mentioning trade policies.  Trade is also affecting business sentiment, with 65% of global CFOs viewing trade policy as a negative for their organizations. But these CFOs also felt the US economy was stable.

On the investment front, I am watching corporate profits, which will start to be reported for the 3rd quarter next week.  Perhaps more importantly will be what corporations say about the profit outlook going forward. This will likely have the biggest impact on financial markets in the near-term.

The right question is “when?”.  We are preparing as though the “when” is sooner rather than later.  We are doing this by staying diversified, tightening up risk controls and staying focused on our long-term plan.  Please call if you have any questions or concerns.

We hope you find this report informative.  Please share it with anyone who you feel would benefit from the information.

 

October Calendar of Events   (comments and additions for future months are always welcome)

  • October is Breast Cancer Awareness and Domestic Violence Awareness month.

 

October 7th        3rd anniversary of purchasing our office building – we’d love to have you come for a visit   – 141 W Main Street Rockaway

October 8th       Yom Kippur – G’mar Hatima Tova to our clients, colleagues, family and friends who celebrate

October 14th      Columbus Day

October 15th  Medicare open enrollment    thru 12/7/18 – you can switch from original Medicare to Medicare Advantage, or vice versa. You can also switch from one Medicare Advantage plan to another, or from one Medicare Part D (prescription drug) plan to another, or drop your Medicare Part D coverage altogether. Please call us if you have any questions about your options.

October 28th   National Chocolate Day – I’m going for Godiva, how about you?

October 31st    Halloween

 

 

 

Sources:  CNBC.com, Blackstone, Nottingham Advisors, Charles Schwab

 

 

Although information herein has been obtained from sources deemed reliable, its accuracy and completeness are not asserted. All opinions and estimates included in this report constitute the judgment of the financial advisor as of the dates indicated and are subject to change without notice. This report is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.

Investing involves risk and you may incur a profit or a loss. Diversification does not ensure a profit or ensure against a loss. There is no assurance that any investment strategy will be successful.  Past performance is no assurance of future results.

Please consider the charges, risks, expenses and investment objectives carefully before investing. Please see a prospectus containing this and other information. Read it carefully before you invest or send money.

Information provided should not be construed as legal or tax advice.  You should discuss any tax or legal matter with the appropriate professional.

Weekly Market Notes – September 30, 2019

Weekly_Market_Notes

For the Week of September 30, 2019

The Markets

The three major indexes slipped at the end of a tumultuous week, closing out their second week of losses. Negative sentiment stemmed from continued concern over the trade dispute between the world’s two largest economies and a whistleblower complaint that has led to an impeachment investigation of President Trump. For the week, the Dow fell 0.43 percent to close at 26,820.25. The S&P lost 0.98 percent to finish at 2,961.79, and the NASDAQ dropped 2.19 percent to end the week at 7,939.63.

Returns Through 9/27/19 1 Week YTD 1 Year 3 Year 5 Year
Dow Jones Industrials (TR) -0.43 17.08 3.91 16.47 12.11
NASDAQ Composite (PR) -2.19 19.66 -1.27 14.38 11.97
S&P 500 (TR) -0.98 19.94 3.73 13.36 10.61
Barclays US Agg Bond (TR) 0.37 8.47 10.27 2.84 3.38
MSCI EAFE (TR) -0.66 13.18 -1.62 6.70 3.23

Source: Morningstar.com. *Past performance is no guarantee of future results. Indexes are unmanaged and cannot be invested into directly. Three- and five-year returns are annualized. The Dow Jones Industrials, MSCI EAFE, Barclays US Agg Bond and S&P, excluding “1 Week” returns, are based on total return, which is a reflection of return to an investor by reinvesting dividends after the deduction of withholding tax. The NASDAQ is based on price return, which is the capital appreciation of the portfolio, excluding income generated by the assets in the portfolio in the form of interest and dividends. (TR) indicates total return. (PR) indicates price return. MSCI EAFE returns stated in U.S. dollars.

 

Plan for Price Increases — As of Aug. 31, the consumer price index (CPI) was up 19 percent over the last 10 years, up 54 percent over the last 20 years, and up 106 percent over the last 30 years. The CPI is a measure of inflation compiled by the U.S. Bureau of Labor Studies (source: Department of Labor, BTN Research).

Really Long — In an effort to lock in historically low interest rates, the Treasury Department stated on Sept. 12 it is considering issuing a 50-year Treasury bond in 2020 (source: Steven Mnuchin, Treasury Secretary, BTN Research).

No Clear Consensus — As of Sept. 18, 35 percent of investors surveyed are bullish on the prospects for U.S. stocks over the next six months, 37 percent are neutral on stocks, and the remaining 28 percent are negative on stocks (source: American Association of Individual Investors, BTN Research).

 

WEEKLY FOCUS – Without Umbrella Coverage, Your Assets Could Be at Risk

You’ve worked hard to build up your nest egg. But what would happen if you were in an accident that left you liable for an amount above the limits of your homeowner’s or auto insurance? All your hard-earned assets could be gone over night.

To protect your savings, you may want to consider adding umbrella insurance to your homeowner’s and auto coverage. Also known as excess personal liability insurance, umbrella insurance provides an extra layer of security that will pay for a judgement or settlement if you’re found responsible and will cover your defense expenses, even if you’re not at fault. In addition to providing extra coverage for property damage and injuries, an umbrella policy may also protect you if you’re sued for libel, vandalism, slander or invasion of privacy.

If you own property or items that could cause an injury to someone else, such as a pool, a dog, a trampoline, a boat or a snowmobile, you should consider purchasing umbrella insurance. If you’re a landlord, serve on the board of a nonprofit, coach kids’ sports or volunteer, you could also benefit from the protection offered by an umbrella policy.

Umbrella insurance is typically sold in increments of $1 million. The price of a policy will vary by risk. Because the insurance only pays if a claim exceeds the liability limit of your homeowner’s or auto insurance, coverage is generally affordable. You could expect to pay around $200 per year for $1 million of coverage and another $100 for the next $1 million. For an additional $100 to $200, you can add excess uninsured or underinsured motorist coverage that covers you if you’re injured by another driver who doesn’t have enough coverage. For about $1,000 a year, you can tack on an endorsement that will provide additional protection from lawsuits if you serve as a volunteer on a nonprofit board.

To keep premiums low, it’s best to purchase your umbrella insurance from the same provider you purchase your home and auto insurance from. It’s common for an insurance carrier to require you to have $150,000-$250,000 in auto insurance and $250,000-$300,000 of homeowner’s coverage before you can purchase an umbrella plan.

If you would like to learn more about umbrella insurance and other ways you can protect your finances, call us today to schedule an appointment.

DWM Plan Well logo

* The Standard & Poor’s 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. The Morgan Stanley Capital International Europe, Australia and Far East Index (MSCI EAFE Index) is a widely recognized benchmark of non-U.S. stock markets. It is an unmanaged index composed of a sample of companies representative of the market structure of 20 European and Pacific Basin countries and includes reinvestment of all dividends. Barclays Capital Aggregate Bond Index is an unmanaged index comprised of U.S. investment-grade, fixed-rate bond market securities, including government, government agency, corporate and mortgage-backed securities between one and 10 years. Written by Securities America, Copyright September 2019. All rights reserved. Securities offered through Securities America, Inc., Member FINRA/SIPC. SAI#2750346.1

 

More Washington Dysfunction

As if Washington wasn’t already screwed up enough, now we have a formal impeachment inquiry underway.

I’m not very worried about what this formal process means for the President’s current term or his reelection chances.  What is of greater concern is the impact this process will have getting anything substantive done in Washington.

Sadly, the idea of bipartisan action on legislation that could help the US economy, like infrastructure and trade agreements, probably gets pushed out past the 2020 election.  Congress is likely to do nothing but “must do” items like funding the government.

The entrenched trade war between Washington and China remains a major headwind for the economy and financial markets.  Passage of the already agreed upon trade deal with Canada and Mexico is also now In doubt. These uncertainties cost the economy in terms of tariffs imposed on goods and loss of corporate investment because CEOs are unwilling, rightly so, to invest without clarity on trade.

The financial markets are likely to remain highly volatile, swinging wildly on each news story or tweet.

We remain generally constructive on the US economy and financial markets, despite the political craziness.  We remain neutrally positioned with a focus on risk management.

Please call if you have any questions.

Jim

Weekly Market Notes – September 23, 2019

Weekly_Market_Notes

For the Week of September 23, 2019

The Markets

Stocks fell Friday after a Chinese agriculture delegation cancelled a scheduled trip to Montana, reducing optimism about China-U.S. trade talks. As a result, all three indexes experienced their first weekly decline in a month despite the Fed’s decision earlier this week to lower rates for the second time this year. For the week, the Dow fell 1.04 percent to close at 26,935.07. The S&P lost 0.49 percent to finish at 2,992.07, and the NASDAQ dropped 0.72 percent to end the week at 8,117.67.

Returns Through 9/20/19 1 Week YTD 1 Year 3 Year 5 Year
Dow Jones Industrials (TR) -1.04 17.58 3.50 16.86 11.99
NASDAQ Composite (PR) -0.72 22.34 1.11 15.71 12.13
S&P 500 (TR) -0.49 21.13 4.19 14.10 10.53
Barclays US Agg Bond (TR) 0.88 8.07 10.11 2.95 3.35
MSCI EAFE (TR) -0.35 13.94 -0.57 7.34 2.91

Source: Morningstar.com. *Past performance is no guarantee of future results. Indexes are unmanaged and cannot be invested into directly. Three- and five-year returns are annualized. The Dow Jones Industrials, MSCI EAFE, Barclays US Agg Bond and S&P, excluding “1 Week” returns, are based on total return, which is a reflection of return to an investor by reinvesting dividends after the deduction of withholding tax. The NASDAQ is based on price return, which is the capital appreciation of the portfolio, excluding income generated by the assets in the portfolio in the form of interest and dividends. (TR) indicates total return. (PR) indicates price return. MSCI EAFE returns stated in U.S. dollars.

 

They Do Not Last Forever — There have been 10 recessions in the United States since 1950, the most recent being an 18-month downturn that ended in June 2009. The average length of the 10 recessions since 1950 is 11 months (source: National Bureau of Economic Research, BTN Research).

Really Low — The unemployment rate in the U.S. was 3.7 percent in August 2019, the seventh consecutive month that the nation has reported a jobless rate of 3.8 percent or less. The U.S. has not had a jobless rate streak of 3.8 percent or less for that long of a period since December 1969 (source: Department of Labor, BTN Research).

Treasuries — The amount of outstanding Treasury debt issued by the U.S. has quadrupled since the end of 2004, rising from $3.95 trillion on Dec. 31, 2004, to $15.61 trillion as of June 30, 2019 (source: SIFMA, BTN Research).

 

WEEKLY FOCUS – One of the Greatest Threats to Security

We’ve all heard stories of people who have inherited a fortune or won the lottery and later found themselves deeply in debt. It’s hard to imagine how this occurs. But in most cases, it’s a result of lifestyle inflation. People who have more spend more. Ordinary folks whose incomes increase gradually are susceptible as well.

The first step to stopping lifestyle creep is to recognize how it endangers a secure retirement. In the immediate, the more you spend, the less you save. But because downgrading is difficult, you’ll likely spend more in the future to maintain your current lifestyle – which can make saving for retirement more challenging. Suppose you increase your monthly spending by $200. For an average 25-year retirement, you’ll need to add $60,000 to your retirement fund just to keep steady. (Take $2,400 a year x 25 years.)

So, instead of spending more when your income grows, save more. Focus on your long-term financial goals – rather than items that provide short-term satisfaction. It may help to keep extra money out of sight by transferring it to a less-accessible account, such as an IRA.

Of course, it’s important to enjoy life. But countless studies have shown investing in experiences brings deeper happiness than acquiring things. And, if you pay for them upfront, you won’t incur ongoing expenses that often accompany large purchases, like a bigger home or fancier car. Cultivate a taste for inexpensive pleasures. Make time for an extended dinner with good friends. Take a bike ride on local trails. Sign up for a cooking class. Read more. You’ll likely find it easier to experience joy in simpler pleasures if you hang out with friends who live modestly but richly.

Don’t buy into our culture’s obsession with material goods or equate success with possessions. You might choose to live in a down-to-earth neighborhood, where you and your family won’t be tempted to keep up with the Joneses, the Olsons and the Smiths. When you decide to upgrade, make gradual changes. If you’re ready to remodel, choose one room. If it’s time to replace furniture, pick one or two pieces at a time.

We can help you determine the amount you should save for retirement to maintain the same quality of life you have now. Contact our office today. The sooner you get started saving, the easier it will be.

DWM Plan Well logo

* The Standard & Poor’s 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. The Morgan Stanley Capital International Europe, Australia and Far East Index (MSCI EAFE Index) is a widely recognized benchmark of non-U.S. stock markets. It is an unmanaged index composed of a sample of companies representative of the market structure of 20 European and Pacific Basin countries and includes reinvestment of all dividends. Barclays Capital Aggregate Bond Index is an unmanaged index comprised of U.S. investment-grade, fixed-rate bond market securities, including government, government agency, corporate and mortgage-backed securities between one and 10 years. Written by Securities America, Copyright September 2019. All rights reserved. Securities offered through Securities America, Inc., Member FINRA/SIPC. SAI# 2740847.1

Weekly Market Notes – September 16, 2019

Weekly_Market_Notes

For the Week of September 16, 2019

The Markets

Stocks were mixed Friday, but the three major indexes rose for a third consecutive week amid encouraging economic news. Retail sales grew more than expected in August. Central banks took economic stimulus measures. President Trump agreed mid-week to delay an added increase in tariffs on Chinese goods, and Beijing added some agricultural products to its list of imports exempted from tariffs. For the week, the Dow rose 1.65 percent to close at 27,219.52. The S&P gained 1.02 percent to finish at 3,007.39, and the NASDAQ climbed 0.91 percent to end the week at 8,176.71.

Returns Through 9/13/19 1 Week YTD 1 Year 3 Year 5 Year
Dow Jones Industrials (TR) 1.65 18.83 6.65 17.40 12.61
NASDAQ Composite (PR) 0.91 23.23 2.03 16.62 12.35
S&P 500 (TR) 1.02 21.73 5.69 14.52 10.92
Barclays US Agg Bond (TR) -1.66 7.13 8.62 2.74 3.20
MSCI EAFE (TR) 1.99 14.34 2.48 7.56 2.98

Source: Morningstar.com. *Past performance is no guarantee of future results. Indexes are unmanaged and cannot be invested into directly. Three- and five-year returns are annualized. The Dow Jones Industrials, MSCI EAFE, Barclays US Agg Bond and S&P, excluding “1 Week” returns, are based on total return, which is a reflection of return to an investor by reinvesting dividends after the deduction of withholding tax. The NASDAQ is based on price return, which is the capital appreciation of the portfolio, excluding income generated by the assets in the portfolio in the form of interest and dividends. (TR) indicates total return. (PR) indicates price return. MSCI EAFE returns stated in U.S. dollars.

 

Most of Them — The sales of existing homes account for 90 percent of all homes sales in the United States (source: Treasury Department, BTN Research).

How Did You Do? — An average single-family home in America increased in value by 5 percent over the one-year period from June 30, 2018, to June 30, 2019; by 5.9 percent per year over the last five years from June 30, 2014, to June 30, 2019; and by 3.6 percent per year over the last 10 years from June 30, 2009, to June 30, 2019 (source: Federal Housing Finance Agency, BTN Research).

The Most Paid — The maximum Social Security benefit paid to a worker retiring at full retirement age in 2019 was $2,861 per month, more than triple the $899 per month paid 30 years ago in 1989 (source: Social Security, BTN Research).

 

WEEKLY FOCUS – Don’t Underestimate These Retirement Expenses

Underestimated costs during retirement can be avoided by careful planning today. Consider these often-underestimated retirement expenses when planning for your future.

Healthcare: Healthcare can be expensive at any age, especially after retirement. One underestimated expense is long-term care (LTC). Roughly 70 percent of retirees will eventually need it – but Medicare doesn’t cover LTC, according to the Department of Health and Human Services. The average person who needs LTC requires it for about three years. At around $81,600 per year, that’s nearly a quarter of a million dollars – out of pocket. And even if you intend to age in place and never need LTC, you might still require home health services.

Housing: Speaking about aging in place, housing is another underestimated expense. Even if you own your home, the peripheral costs of home ownership continue into retirement. One-third of household spending by retiree-age owners is related to housing, including rent or mortgage; insurance and property taxes; renovations and repairs; and maintenance, including housekeeping, food preparation and lawn services.

Transportation: Retirement from your present career may eliminate long commutes, even the need to own a car. But contemporary retirees are much more active and involved than their predecessors. Transportation still plays a role as new careers, hobbies and lifestyles keep older generations vital and connected – and out of the house. It’s possible your transportation expenses will decrease, but perhaps not as much as you anticipated.

Taxes: Taxes are one of the few sure things in life before retirement. You can bet they’ll remain so after you retire. Before, you were taxed on the pay check you brought home from your employer. Now that you’re retired, you’ll be taxed on the “pay check” you bring home – from yourself. Some of your income, like payouts from your 401k or traditional IRA accounts, will be taxed. Your Social Security benefits may also be subject if you have substantial income in addition to your benefits (such as wages, self-employment, interest, dividends and other taxable income that must be reported on your tax return) or if you live in certain states. If you own a home, you’ll still be responsible for taxes assigned to it.

Retirement should be a rewarding part of life. Call our office today; we can make sure your financial plan provides you a path to the future you envision.

DWM Plan Well logo

* The Standard & Poor’s 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. The Morgan Stanley Capital International Europe, Australia and Far East Index (MSCI EAFE Index) is a widely recognized benchmark of non-U.S. stock markets. It is an unmanaged index composed of a sample of companies representative of the market structure of 20 European and Pacific Basin countries and includes reinvestment of all dividends. Barclays Capital Aggregate Bond Index is an unmanaged index comprised of U.S. investment-grade, fixed-rate bond market securities, including government, government agency, corporate and mortgage-backed securities between one and 10 years. Written by Securities America, Copyright September 2019. All rights reserved. Securities offered through Securities America, Inc., Member FINRA/SIPC. SAI# 2731634.1