SEPTEMBER 2001 NEWSLETTER SUPPLEMENT
The enclosed newsletter with accompanying cover letter was written and ready for mailing prior to September 11. Because of the confusion and chaos caused by these horrific events, I felt it was necessary to include some additional communication with this mailing. Regardless of what the market does in the near future, and certainly no one can accurately predict how the financial markets will react in any given situation, there are some basic tenants that I believe will get you through or at least will have you as prepared as possible. These principals work during good times as well as bad.
- keep debt at a minimum-never buy a wasting asset on credit
- have adequate cash reserves, preferably in a money market account to handle unforeseen expenses and forecasted expenses, such as vacations, new car, new furniture any expected expenditures out of the ordinary over the next two to three year period.
- have adequate property and liability insurance, medical, disability and life insurance.
- invest prudently: be a long-term investor, investing in a well balance portfolio, do not speculate with more funds than you are willing to lose; don't try to be a short-term trader or speculator. Remain calm in turbulent times and don't make decisions in a panic, re-evaluate your strategies if you become too nervous.
- have an appropriate estate plan in place, this would include wills, living wills, trusts when appropriate, powers of attorney and appropriate business agreements. Hope this review will be helpful during this very stressful time.
520.884.7550
jpw@financial-architects.com
2311 E. Broadway
Tucson, AZ 85719
United States