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A Message to Our Clients About COVID-19

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How to Remain Hopeful and Keep Perspective During the COVID-19 Outbreak

We are facing something we have never faced before in our lifetimes. That is a fact and, in time, when the news of the pandemic spreading and the recommendations on social distancing getting broader by the day, it can be hard to feel certain or safe about anything.

Although Peak Financial clients have benefitted tremendously from the risk and volatility reduction strategies used to manage their assets, it is still very troubling to watch the unprecedented market decline and hard to tune out the constant media noise regarding losses. But most importantly, we need to maintain our health and the health and safety of our family, friends, and neighbors. Covid-19 which emerged late in 2019 in China has spread rapidly worldwide since then and is a global pandemic. The measures taken by leaders around the globe have for the most part been strong, leaving most children without a classroom to go to, parents working from home or without a job altogether, and investors uncertainty causing panic about what is to come.

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Dan and Jim Win the 2020 Five Star Wealth Manager Award

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Dan Ahmad and Jim Files are, again, winners of the exclusive 2020 Five Star Wealth Manager award. Wealth Manager award winners are identified based on a rigorous research process and selected from among thousands of wealth managers for their knowledge, service, and experience. Dan and Jim are part of an exclusive group of wealth managers who have demonstrated excellence in their field by satisfying 10 objective selection criteria.

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Do You Think The Stock Market Will Crash During Your Lifetime?

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The stock market has always been volatile, going and going down repeatedly. But what are the actual FACTS about stock market crashes?

Since 1929, the stock market has had 13 bear market crashes that have averaged -39.5 [pronounced “negative 39 point 5”] percent in losses.

While 13 crashes since 1929 doesn’t sound like that many, it means historically, the stock market crashes and loses an average of -39.5 percent every 7 years. Why is all this important? 2 reasons:

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The Stock Market Hasn’t Always Earned 8%, 10%, or 12%

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You may have been told to invest in the stock market because you’ll possibly earn 8, 10 and even 12 percent per year. And if you got these returns, everything would turn up roses. But what if you don’t?

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What Do You Want From Your Money?

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Recent studies show retirees have seven financial goals in retirement:

A guarantee that they won’t run out of money for as long as they live.

To avoid large stock market losses and never suffer through another 2008 type market crash again.

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Four Strategies for Overcoming Boredom in Retirement

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So, you’ve made it to retirement – congratulations! Your many years of hard work, smart financial choices and proper life planning have paid off and you’re now enjoying the best years of your life. Or, are you?

Like many big life changes, retirement can bring with it some surprises. One that catches many retirees off-guard is just how difficult it can be to fill your days when you no longer have the obligation of work – or the natural social life that stemmed from daily interaction with coworkers. So, if you’re feeling bored or even daunted by the idea of so much free time on your calendar, rest assured you’re not alone.

Still, it takes thoughtful commitment to overcome boredom in retirement. It’s not just about keeping yourself busy, it’s about making sure you feel fulfilled. Read on to learn how to overcome this common retirement challenge so you can live the retirement of your dreams.

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How to Prevent Entitlement in America’s Children When a Trillion-Dollar Wealth Transfer is Underway

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The United States is in the midst of a massive wealth transfer from Baby Boomers to Gen Xers and Millennials – to the tune of $30 trillion, in fact. In light of this, many parents are wondering how to ensure their children feel empowered by their inheritance, without adopting a dangerous sense of entitlement. Below we’ll explore four proactive strategies for avoiding uncomfortable family scenarios that can develop when adult children know there’s guaranteed money in their future.

The subject of money and inheritance can be seen as taboo in many families, whether there’s a great deal of money in the family or not. A 2015 survey by U.S. Trust (now Bank of America) showed that one-third of high net worth and ultra-high net worth adults intentionally did not discuss family finances with their children out of fear that it would create a negative work ethic. Additionally, a full 20 percent said they had been taught as children that it was not appropriate to talk about wealth. How, then, will these families address the very real concerns that arise when wealth transfers to the next generation? The four action steps below offer a place to start.

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When You Have Enough Saved but Still Worry About Money

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In the financial advising business, it’s fairly common to hear from clients who are concerned they haven’t saved enough for retirement. What’s surprising about this, though, is that many of these clients are actually in an enviable financial position. They have worked hard to save more than they are likely to need, and yet they still worry about becoming penniless in retirement. Why is that?

Let’s consider a gentleman we’ll call David. He is 65 years old, a military veteran with a $40,000 per year pension, and he has $400,000 saved. His home is paid off and he has no debt to speak of. He qualifies for both Medicare and Tricare for health needs, and he has a long-term care policy just in case. You don’t have to be a financial professional to see that David has his ducks in a row, yet he’s still terrified of retiring and outliving his money.

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Preparing Financially and Emotionally for Life’s Big Transitions

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Do you remember the story about the grasshopper and the ant? The one where the grasshopper spends all day at play while the ant gathers food? Sometimes, we all need a reminder about how that story ends – with the ant prepared for a long winter and the grasshopper completely ill-equipped.

In this age of intense busyness, it’s easy to spend our time focusing on the day to day and ignoring the future, but this puts us at a disadvantage. Life has a habit of catching us off guard, and we would all do well to spend a bit more time like the wise ant did, preparing for a future transition we know is coming.

Research shows that 51% of Americans are stressed about their finances over the next few years.[i] If you count yourself among them, consider carving some time out of your hectic schedule to plan and prepare for your future. The advice shared below is meant to help you make this invaluable investment in order to provide financial and emotional peace of mind for you and your family.

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