Be CONFIDENT on your foundation

Over the summer, my family had a chance to embark on a treehouse building project with three generations of my family. Somewhere between my son watching Treehouse Masters (thank you Pete Nelson)… expecting to have indoor plumbing and a ceiling fan and my concept of one sheet of plywood with a single 2x4 rail to keep my kids from falling off, we came up with…

 I Was Reminded

There are a few things very important in building something of value.  First, you need to have somebody with deep experience and knowledge, the grandpa or "pop-pop" in this situation.  And secondly, the foundation is key to the success of everything you build. As you can see this foundation is solid, we hope the treehouse will last for decades.

Foundational Questions for your family

When you consider building your family's future finances, here are the questions you need to ask yourself about that foundation:

• What are our goals? …do these goals reflect what we really value long term?
• Do we have a detailed financial plan guiding us?
• What is our budget telling us about cash flow?   Is our budget accurate?
• Is my insurance coverage adequate- umbrella policy for additional home and auto protection, life insurance to provide and the most overlooked insurance to protect your earnings – long term disability insurance?
• Do we have beneficiaries, a named guardian for minors, an executor of your estate and the proper legal documents drawn up to administer?
• Do we have a disciplined investment process that guides our investments?
• Does our family have a trusted and experienced team with the knowledge to guide you?

The team at Foley and Foley Wealth Strategies is always happy to assist you in answering these questions and providing solutions to benefit your family.

This is so you CAN BE CONFIDENT on your financial foundation.

Luke Fields, CFP®

Any opinions are those of Luke Fields and not necessarily those of Raymond James.  Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, Certified Financial Planner™ and CFP® in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

Foley & Foley Wealth Strategies

A Uniquely Family Run Business for 35 years

In 1981, Foley and Foley was established when insurance specialist Mark Foley and his investment savvy son, Kevin Foley joined forces to serve clients.

This month, the firm celebrates 35 years serving clients!

Today, Foley & Foley Wealth Strategies is thriving thanks to the continued dedication and success of Kevin Foley and his family of partners, Luke Fields and John Foley.  Kevin shares that “we’ve worked to maintain the exceptional standards established early in the company.”  Click here to read more about ‘Our Story’.

The firm credits success to their clients trust and satisfaction.  By building a financial plan unique to each client, Foley & Foley Wealth Strategies conveys that real wealth comes from planning and living your best life, and being able to pass on the blessings.

Since 1981, Kevin Foley, ChFC®, CLU®, has specialized in helping clients accumulate, manage and preserve wealth and been recognized as an outstanding financial advisor, achieving membership in the Raymond James Leaders Council. 

Luke Fields is a CERTIFIED FINANCIAL PLANNER™ Professional with a thorough understanding of the details required when constructing strategies for clients.  John Foley, RJFS Investment Consultant, specializes in consulting with clients to determine which investments will help them accomplish their unique goals.

In recent years, Foley & Foley Wealth Strategies has modernized our firm processes, created a new logo/website www.foleywealthstrategies.com, enhanced the investment selection process to be discretion managed in-house and implemented the most current financial planning software adding significantly to their investment and financial planning strategies. These changes convey a readiness, vibrancy and current understanding of today’s challenging markets. 

Foley & Foley Wealth Strategies THANKS YOU!    We pledge to you our continued best service – you deserve it!

Kevin Foley ChFC®, CLU®, Founding Partner
Luke Fields CFP®, Firm Partner
John Foley, Firm Partner, Investment Consultant, RJFS

The Vote Against...Elections and your Portfolio

Elections have a way of revealing the true state of American politics.  I think many have known it was in a sad, poor state but we didn’t have a concrete point in time to say, yep this is really bad.  Until now.   Currently, we find ourselves asking, “are these the best candidates we can offer?”

It is the first election when more than 50% of voters are voting “against the other candidate” rather than for the one they will actually “pull the lever” (Pew Research).

How Elections Impact the Stock Market

In looking at history here is what we know.

Volatility in the stock market always increases heading into and exiting a presidential election.  We know that the stock market hates uncertainty, and uncertainty is exactly what you get in a polarizing election that has very different candidate policies.  Volatility is normal in the stock market but is heightened when emotions, worry and policy concerns influence trading.  While it is normal to be concerned, it is not wise to make drastic changes to your financial plan.

12 months after an Election the markets are usually not impacted.  There is an old saying that “the market always climbs a wall of worry”.  Although there are no guarantees longer term, it is impressive looking at this chart of the many various worries and concerns that the market has climbed.

The market likes political “grid-lock”, and it is likely to be so after this election.
“Grid-lock” between the Executive and Legislative offices- Congress/House provides some certainty on likely policies and helps prevent dramatic policy swings.  Large policy shifts or swings would occur without grid-lock, actually causing more uncertainty in that current political cycle and then also in the following election cycle as the Pendulum historically looks to sweep to the opposite side of the spectrum.

Business and citizen spending has the greatest impact on the economy. 
In the United States, 82.4% of GDP comes from sources other than the government.  The president doesn’t have to be popular or have a high approval rating for a healthy stock market.  Historically, the market has performed well when approval is in the 35-50% range.

Making a move to Cash is “Timing the Market”.  Study after study has shown that trying to time the market is a futile exercise and missing just a few of the best days in the market can dramatically impact your long term returns.  Refer to the chart above where the market climbs a wall of worry and this one below.

A long term financial plan is your best bet.
Whether it is worry over an election causing increased market swings or clear goals you want to accomplish financially… either way it is best to stick to your financial plan.  Focus on the things you can control inside of your plan such as your goals you have set for yourself, your personal spending, how much you regularly save and the risk you are comfortable with in your portfolio.

To the Freedom to Vote For…or Against,

Luke Fields, CFP®

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. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Past performance may not be indicative of future results. Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Investing involves risk and you may incur a profit or loss regardless of strategy selected. There is no guarantee that any statements, opinions or forecasts provided herein will prove to be correct.

The "Santa Claus Rally"

What is the “Santa Claus Rally”?

Santa is readying himself to visit many children and adults alike worldwide.  It is an exciting time for all.  My youngest child and last to write a letter to Santa eagerly awaits.  I am sad to think that this may be our last year for the magic of “Santa Claus” in our household.  It has been fun.  Our full attention however can rightly be focused on the true joy of Christ’s birth for us all.

Santa Claus is Coming to...Wall Street?!

Wall Street also has a soft spot for Santa Claus.  You may have heard of what is called the “Santa Claus Rally”.  It refers to a seasonally higher stock market around this time of year, typically the week after Christmas as we head into the New Year.  Historically, December is the one of the best months for the S&P 500.  Since 1928 the S&P 500 has risen in December about 75% of the time.  Why you ask?  Good question; no one knows the definitive reason.  The most likely reason in my belief is that year-end bonuses for most Wall Street traders and investors are dependent on their performance being positive come December 31st.  So as you can imagine, they are incentivized in large dollar ways to encourage $anta to be good to them.  This results in more cash being invested in stocks and bonds to increase values.  Other potential reasons for the Santa Rally are the upbeat joy of the season, the optimistic outlook that most people hold turning the calendar over into a new year (which is called the “January Effect”) or simply the pessimists (aka “bears”) are on vacation.

“News and Noise” doesn’t Dictate Allocation

The name “Santa Claus Rally” is a great “sound bite” for the media and an amusing discussion topic.  So, will Santa visit Wall Street and the stock market?  No one knows, it is not a sure-thing.  The key is to see it for what it is, as more “noise” that simply distracts from a solid, diversified portfolio with a longer term perspective.  Don’t get caught up in the noise and enjoy Christmas and the holidays with your family.
I can guarantee that Santa will be visiting our house this year; my kids take very good care of Santa and his reindeer!  Here is a picture from 2014.  He loves M&M cookies.

From all of us here at Foley and Foley Wealth Strategies, have a Merry Christmas and a Blessed New Year!

Luke Fields, CFP®

READ more Stewardship Cents here...

Any information herein is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation.  Any opinions are those of Luke Fields and not necessarily those of RJFS or Raymond James.  Diversification and asset allocation do not ensure a profit or protect against a loss. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market. Past performance does not guarantee future results.

Did You Know You NEED This?

STEWARDSHIP CENTS NEWSLETTER

Did You Know You NEED This?

The start of school is usually a harsh wake up call, at least for my family.  Leaving my house for work a few days before the first day was to begin, I thought to myself… “it is time for a routine again”.   It seems the flexibility that summer break offers is a “double edged sword.”  Although being out of school is a nice break from the normal school-week-grind for kids (and parents too… no packed lunches or crazy schedules), it also offers little to no structure… or routine.  If you are a grandparent reading this, you remember this, right?

Now don’t get me wrong, it is wonderful to not have a schedule some days or for a short period of time, but after a while it can become disruptive.  My kids wouldn’t admit it but they were ready for school.  They just didn’t know it.

Why We ALL Need Routines

Most adults also don’t realize the need for a routine or process in their lives.  Routines are good across the spectrum of our daily lives from eating, working, exercising to what time we go to bed.  There are numerous physical health, mental well-being and productivity reasons for any routine we take on.  Some routines are rather thoughtless; think brushing your teeth.  You can do it half asleep reasonably well.   Other routines are specific processes that allow us to focus on important subjects.  For example, driving a car has a certain process to drive safely and grocery shopping has a certain process to buy everything you need.  Processes that come from routines allow us to think deeply and focus on important tasks.  Do you have a process for your finances?  Having a routine for your financial plan is vital.

What Is Your Routine?

Do you have a process for a financial plan; saving the correct amount of money in the right places, monitoring your progress to reach your goals and making necessary adjustments to your plans?

Specific processes we use at our firm (our routines) allow us to help you establish life goals, create an actual life financial plan, determine an appropriate investment approach and then regularly monitor results.  The routines we utilize help us provide you direction, prevent us from forgetting important planning items, allow us to focus on the big picture of you and your goals, helps reduce the emotional response when markets get volatile and provide an overall discipline to stick with the plan.  Our processes even keep us on track to regularly meet face to face with clients.  Does your advisor do all these things?  Are you walking thru life without a professional and qualified financial advisor?

Let us know how we can help you with your financial life plan.

Luke Fields, CFP®

luke.fields@raymondjames.com
877.854.0936

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.