Review & A Look Ahead
This is our final newsletter for this year which I hope you will find packed full of useful information.
This has been a great year for the equity markets and the high yield bond markets. Municipals preformed well, while high grade corporate and government bonds were basically flat. If you review my newsletters on our website (www.financial-architects.com) for the past several years, you will see that these results were somewhat expected, however, it’s quite a relief to see them actually materialize.
As this year comes to a close we are always planning ahead, since we know full well that a business does not stand still, (you are either moving ahead or falling back). With that in mind we have taken steps to continue to expand our business with the addition of our new associate, Brienne Dylewski and a part time receptionist position.
We believe the recent mutual fund scandals will open some opportunities for us; as people begin wanting and needing to become more knowledgeable about their investments and the ethics of the people that they are currently dealing with.
A good part of Brienne’s job will be to prospect and develop new clients, and since most of our business for several years now has come from referrals, from friends and satisfied clients, we will be stepping up that activity. If you know of anyone that could benefit from our services we would appreciate hearing from you.
I am very pleased with the fact that my clients have the confidence and trust in us to refer their friends; perhaps that is because of my philosophy, “if I wouldn’t buy it myself, I’ll not recommend it to a client.”
Just as a reminder, we provide not only financial planning services, but investments in mutual funds, stocks, bonds, privately managed accounts, retirement plans, 529 college saving plans, and insurance, including: life, medical, disability, and long term care.
From Paychecks to “Playchecks”
Are retirees content to kickback and relax?
According to a new national AARP survey of workers aged 45 to 74, a large majority (69 percent), plan to work in some capacity in their traditional retirement years.
The survey found that 22 percent planned to continue working because of a need for money. That was followed by a need for health benefits, a desire to remain mentally active, and a desire to remain productive or useful.
As the numbers indicate, the traditional concept of retirement seems to be vanishing. Nearly half of those surveyed planned to continue working into their 70s or later. 18 percent said they planned to keep working until “80 or older”, “never stop working”, or “as long as able.” Author Mitch Anthony has studied this phenomenon and he says the elderly are trading paychecks for “playchecks.” Instead of working for the money, they’re doing what they love and getting paid for it is just icing on the cake.
This is a trend that I have seen developing for numerous years and in many respects I think this is a positive trend.
Several years ago I started getting this question from many of my clients. I guess at this point I would have to say that I am in the 18%, also with the addition of Brienne, our work and leisure time schedule will become more flexible for Donna and I; while still building our practice.
Wishing you the best for the holiday season, a prosperous new year and lets all pray for peace around the world and the safe return of our military men and women.
520.884.7550
jpw@financial-architects.com
2311 E. Broadway