When I was in my early 20s, I remember being told by someone older… “you know, the older you get, the faster time goes by”. I admit thinking they were a little crazy, however I now fully agree with them since many years have passed. This year has been like “light-speed”.
Optimism is typically amplified as we celebrate Christmas and the holidays and we look to turn the calendar into a New Year. This year is no different; 2017 seems to be about change.
The year 2016 was a year of swings and surprises no less. 2016 had a poor investment start and outlook with the markets down nearly 11% by mid-Feb, only to swing up sharply to be even by mid-March (S&P 500), a month later. This dramatic move in the market not surprisingly coincided with oil’s rebound from its February low. Afterwards the markets positive momentum continued. Then there was June’s “Brexit” vote in the U.K. which was a surprise to the pundits and pollsters alike.
And of course the U.S. Presidential election was the biggest surprise of the year; the pollsters, the “wall street insiders” and even Vegas all got it wrong.
The expected change with a new administration concerns some and excites others. The market has shown its excitement based on Trump’s focus on two main campaign components;
1) a large infrastructure spending program estimated at $1 Trillion, which all agree is expensive but much needed for our country’s ailing bridges, roads and logistics (both Clinton and Trump proposed)
2) the likelihood of tax reform consisting of possible IRS simplification, personal tax bracket reductions and the most heralded- corporate tax cuts from 35% to 15%.
We won’t try to predict the market or events to come in 2017, since no one really knows but we can say it will be another year of change (as every year is).
It is essential to realize though, that change requires an intentional, planned out approach to your family’s goals, financial plan and resulting investment strategy. Foley and Foley Wealth Strategies delivers just this with an adaptive and clear approach through the uncertainty any year can bring. Reach out and let us assist your family.
In case you missed a blog post this year, here is a list of our favorite posts for our firm in 2016.
Are you a Control Freak? Focus on what matters.
Volatility in the Market, what is that? It is not a bad word.
The Problem with Legacy. Why it starts today and not when you die.
Staying Safe Online (9 ways)
And Finally... We are still celebrating 35 years of serving our clients!!
To a well-planned 2017!
Luke Fields, CFP®
The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market. Inclusion of these indexes is for illustrative purposes only. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor’s results will vary. Past performance does not guarantee future results. Any opinions are those of Luke Fields and not necessarily those of RJFS or Raymond James. Expressions of opinion are as of this date and are subject to change without notice.