By: Matt Garrott

Through July, the S&P 500 is up 18%.  While this is coming on the back of a staggered recovery from pandemic lockdown, the index hasn’t had a 5% or greater pullback in over a year.  Not to jinx things, but in an average calendar year, we see a drawdown of about 14%.  Eventually, the market will have an extended period of losses.  The media will panic and we’ll get a ‘Markets in Turmoil’ chyron along with a new box on CNBC that monitors whatever the latest datapoint of doom is.

I don’t mean to rain on the market’s parade.  We are optimists (realists – the stock market goes up in the long run), but that is a huge run-up without pause.  Now may be a good time to evaluate things from a new perspective.

School is about to start back up and we got a note from our principal.  This year, my son’s educators will focus on academic excellence, but they are especially aware of the need to rebuild peer relationships after the social distancing measures of last year.  The same can be said for many of us returning to the office, sitting down at our favorite restaurant, or catching up with friends in person.

Along the same lines, do you need to touch base on your relationship with your financial plan?  Is your financial situation in the same place it was before the pandemic or has it changed?  Are your goals the same?  Are your needs the same?  Have priorities changed?  Are you taking your career in a different direction?  Oddly enough, some investors may find themselves ahead of plan as financial asset prices continue to rise.  They may need an update to their estate plans.

We pride ourselves on being proactive, but if you have an update, we’d love to hear it.  Whether it’s a career change or a new grandbaby, now is a great time to revisit your financial plan.  As you reconnect with friends and loved ones, if you hear that they could use a hand with financial planning or just another set of eyes on their current plan, feel free to connect them with us.  We’ve been growing through the last year with new hires and we even wrapped up our very first internship this summer.  We’d be delighted to share our expertise.

Fairway Scorecard 7-31-2021