Enjoy this month’s edition which features a year to date summary of fund performance, a tax planning tip and clarification on TD Ameritrade notification of cash disbursements.
Summer doldrums will be upon us soon so expect to see the steady rise in the stock market to slow. The old adage, sell after Memorial Day and buy after Labor Day, stems from the idea that all the wealthy, Wall Street power players ship off from lower Manhattan to the Long Island Hamptons for the summer.
From the desk of Ramsey Bova…
One has to marvel at the differences of opinion about where the stock market, the economy, interest rates, and the bond markets are headed. Of late, the stock market is heading higher, with the Standard and Poor’s 500 Stock average hitting all-time highs.
Stock markets rise on expectations of rising economic activity which will result in higher corporate earnings which in turn boosts dividend payouts. Imagine your investment portfolio, consisting of stock market investments and income assets, producing sufficient income to sustain your lifestyle. That is the objective of saving and building a balanced portfolio.
HAPPY NEW YEAR!
We want to welcome Lee Chapman as our new Operations Director. Elizabeth Shropshire is moving with her husband who has taken a new position elsewhere in Kentucky. We regret Elizabeth’s departure. She has served you, our clients, in a professional manner and our company commendably.
One of our many duties as your financial advisor can often be depicted in a very familiar saying, “don’t put all your eggs in one basket”. It is our responsibility to make sure that your portfolio is allocated properly to balance both risk and reward.
We are quickly approaching the end of 2013. Joe, Elizabeth and Ramsey will be working on completing year end tasks – most importantly, IRA required minimum distributions for those over 70.5 AND charitable contributions. Please contact the office if you have any questions.
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