
Market Update - Smith Wealth Advisory Group
Market Update - Smith Wealth Advisory Group

2020 Year-end Reflections from Kevin Smith
2020 Year-end Reflections

The Ugliness of the Storm Determines the Beauty of the Rainbow
At the time of my last correspondence the number of Coronavirus cases and related deaths were accelerating, financial markets were reeling, and the outlook on both fronts appeared grim. The S & P 500 had declined 35% from its February 19th peak, and credit markets were facing similar stress given the implications of widespread business and economic shutdowns. We were very much in the “heart of the storm.” My message to you then was simple: “Believe in America.”

Despair to Hope in Just 11 Minutes
We encourage you to view the attached video from Brian Wesbury, a widely respected economist whose viewpoints are particularly relevant and insightful at this critical time. Given so much disinformation and fear-mongering, facts and context matter. If you want to be hopeful when it seems all hope is lost, please listen. We believe the 11 minutes will be well worth your time.

Center for Disease Control and Prevention (CDC)
Although the effects of the Coronavirus on financial markets are well known, important facts about the virus itself and precautionary measures that can be taken are less so. Proper education eliminates uncertainty and reduces fear. Below is a link to the Center for Disease Control and Prevention (CDC) website which can be used to answer basic questions and provide helpful steps for higher-risk individuals and populations.

See The Good
One of my favorite quotes, by Henry David Thoreau, is:
“Wealth is the ability to fully experience life.”
Although it’s natural to be concerned about the near-term financial impact from current events, Thoreau’s quote assumes more significance and relevance at this time. It has long been my belief that it’s not ultimately monetary riches, but the richness of life itself that is most meaningful.

March 9th Market Insights
Dear Friends:
As you may know, I’ve always been a big fan of Warren Buffett and have quoted his sage advice and wisdom frequently throughout the years. Buffett’s success as an investor is well known, and investors are generally wise to heed his advice and follow his example.

Market Volatility 2.29.20
I hope this note finds you and your family well and in good health. As you may know, fear of the potential economic impact of the spread of the coronavirus from mainland China to other regions of the world has precipitated a broad and significant market correction. Although a little more than a week ago the major stock market averages were at all-time highs, over the past week they have experienced a precipitous double digit decline. It’s natural that you may have a number of questions and concerns, and it is my hope to potentially address some of them in this correspondence.

Believe in America. I Do.
With each passing day events are happening and conditions changing at what seems like warp speed. Just a few short weeks ago our lives were normal, financial markets were thriving, and all seemed to be well with the world - literally, and figuratively. Now, practically overnight, our worlds have been turned upside down.

What to Consider When Buying or Selling a Home in a Rising Mortgage Interest Rate Environment
If you are buying or selling a home when mortgage interest rates are rising, there are important considerations to keep in mind that impact affordability and other factors.

March Investment Perspectives
Read about navigating today’s conflicting economic information, how foreign central bank policies may put downward pressure on the U.S. dollar, and how investors consider factors impacting stocks as economic risks linger.

Home Improvement Credits Under the Inflation Reduction Act
If you are planning to purchase electric vehicles or make energy-efficient improvements to your house, you may save some money under the Inflation Reduction Act.

Don’t Overlook This Hidden Retirement Risk
After working so hard to save for retirement, it’s important to be aware of potential risks that arise when you stop earning and start withdrawing. This article explores some solutions you may consider to help protect your retirement income from sequence of returns risks.

Secure Act 2.0: Summary of Key Provisions for Plan Sponsors
On December 29, 2022, President Biden signed the Consolidated Appropriations Act, 2023 into law.

Look Out For These Top Tax Scams When Filing Your Taxes
Each year, the IRS produces a list of its “Dirty Dozen” tax scams. These scams tend to spike from December through April, but they can—and do—happen year-round. It’s wise to stay on top of the latest list of common issues—and take some simple steps to stay safe from them.