Market Commentary – June 24, 2019

Market Commentary – June 24, 2019

Everything went up – and that’s unusual.
Randall Forsyth of Barron’s explained, “Like our major political parties, the stock and bond markets seem to live in two different worlds these days. The former sits at record levels, suggesting we live in the best of all possible worlds. The latter sees things as bad and only getting worse.”

Here’s what happened last week:
The Federal Open Market Committee met last week (they decide whether the central bank of the United States should push rates higher or move them lower). It left rates unchanged, but indicated a willingness to lower rates in support of economic expansion. That was music to the ears of some investors and the Standard & Poor’s 500 Index rose to a record high, reported Sue Chang and Mark DeCambre of MarketWatch.

The Fed’s song was the same as the one already playing across the world. Central bankers in Europe and Japan had signaled they were willing to encourage economic growth by easing rates lower and using other tools available, reported Leika Kihara and Daniel Leussink of Reuters. Their attitude helped push world stock markets higher.

Last week, the U.S. bond market gained value, too, as interest rates moved lower. Falling interest rates suggested bond investors were hearing a different tune. When investors are willing to accept lower yields, it suggests they’re worried about what may happen and are seeking safety. In some parts of Europe, investors are accepting negative yields – taking small losses to own government bonds they perceive to be safe – because they are pessimistic about the future.

There is plenty to be concerned about, including ongoing trade issues and conflict in the Middle East. Only time will tell how recent events will affect the U.S. and world economies.

A land without time. You may have heard: Sommaroey Island in Norway may do away with time. Residents of the island don’t experience time as people elsewhere do. From May to July, the sun doesn’t set on Sommaroey. From November to January, it doesn’t rise.

Proponents of a time-free island zone say it would reduce stress. “…the change would not mean that shops are open 24/7, but that residents could make better use of the daylight,” reported ABC News.

Living without time is an astonishing idea.

In modern life, time is a critical organizational tool. We divide our experience into centuries, years, daytime and nighttime, hours and minutes. Our actions are informed by schedules. We need to arrive at class, at work, at the bus stop, at a restaurant, or at a ballgame at a specific time.

However, time is not nearly as straightforward as it seems.

In a review of Why Time Flies: A Mostly Scientific Investigation, The Economist opined, “Time is such a slippery thing. It ticks away, neutrally, yet it also flies and collapses, and is more often lost than found. Days can feel eternal but a month can gallop past. So, is time ever perceived objectively? Is this experience innate or is it learned? And how long is ‘now,’ anyway? Such questions have puzzled philosophers and scientists for over 2,000 years.”

Residents of Sommaroey have been pondering life without time and whether it is actually possible. The leader of the move to abolish time told ABC News, living without time, ‘is a great solution but we likely won’t become an entirely time-free zone as it will be too complex.’

Weekly Focus – Think About It
“How did it get so late so soon?”
–Dr. Seuss, American author

Best regards,
John F. Reutemann, Jr., CLU, CFP®

P.S.  Please feel free to forward this commentary to family, friends, or colleagues. If you would like us to add them to the list, please reply to this email with their email address and we will ask for their permission to be added.

Investment advice offered through Research Financial Strategies, a registered investment advisor.

S&P 500, Dow Jones Global ex-US, Gold, Bloomberg Commodity Index returns exclude reinvested dividends (gold does not pay a dividend) and the three-, five-, and 10-year returns are annualized; the DJ Equity All REIT Total Return Index does include reinvested dividends and the three-, five-, and 10-year returns are annualized; and the 10-year Treasury Note is simply the yield at the close of the day on each of the historical time periods.
Sources: Yahoo! Finance, Barron’s, djindexes.com, London Bullion Market Association.
Past performance is no guarantee of future results. Indices are unmanaged and cannot be invested into directly. N/A means not applicable.

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* Government bonds and Treasury Bills are guaranteed by the U.S. government as to the timely payment of principal and interest and, if held to maturity, offer a fixed rate of return and fixed principal value.  However, the value of fund shares is not guaranteed and will fluctuate.
* Corporate bonds are considered higher risk than government bonds but normally offer a higher yield and are subject to market, interest rate and credit risk as well as additional risks based on the quality of issuer coupon rate, price, yield, maturity, and redemption features.
* The Standard & Poor’s 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. You cannot invest directly in this index.
* All indexes referenced are unmanaged. Unmanaged index returns do not reflect fees, expenses, or sales charges. Index performance is not indicative of the performance of any investment.
* The Dow Jones Global ex-U.S. Index covers approximately 95% of the market capitalization of the 45 developed and emerging countries included in the Index.
* The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market.
* Gold represents the afternoon gold price as reported by the London Bullion Market Association. The gold price is set twice daily by the London Gold Fixing Company at 10:30 and 15:00 and is expressed in U.S. dollars per fine troy ounce.
* The Bloomberg Commodity Index is designed to be a highly liquid and diversified benchmark for the commodity futures market. The Index is composed of futures contracts on 19 physical commodities and was launched on July 14, 1998.
* The Dow Jones Industrial Average (DJIA), commonly known as “The Dow,” is an index representing 30 stock of companies maintained and reviewed by the editors of The Wall Street Journal.
* The NASDAQ Composite is an unmanaged index of securities traded on the NASDAQ system.
* International investing involves special risks such as currency fluctuation and political instability and may not be suitable for all investors. These risks are often heightened for investments in emerging markets.
* Yahoo! Finance is the source for any reference to the performance of an index between two specific periods.
* Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
* Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful.
* Past performance does not guarantee future results. Investing involves risk, including loss of principal.
* You cannot invest directly in an index.
* Stock investing involves risk including loss of principal.
* The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee it is accurate or complete.
* There is no guarantee a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
* Asset allocation does not ensure a profit or protect against a loss.
* Consult your financial professional before making any investment decision.
* To unsubscribe from the Weekly Market Commentary please reply to this e-mail with “Unsubscribe” in the subject.

 

Sources:
https://www.barrons.com/articles/low-interest-rates-could-have-surprising-benefits-51561165445?mod=hp_DAY_1 (or go to https://peakcontent.s3-us-west-2.amazonaws.com/+Peak+Commentary/06-24-19_Barrons-Stocks_Soar_Yields_Sink_Whats_Next-Footnote_1.pdf)
https://www.marketwatch.com/story/dow-poised-to-surge-to-highest-level-in-812-months-gold-hits-5-year-high-as-fed-signals-cuts-2019-06-20
https://www.reuters.com/article/us-japan-economy-boj/bank-of-japan-joins-fed-in-signaling-easing-if-needed-keeps-policy-steady-for-now-idUSKCN1TL06C
https://finance.yahoo.com/news/global-stocks-rally-bond-yields-010510813.html
https://www.abc.net.au/news/2019-06-20/norwegian-island-sommaroey-wants-abolish-time/11230200
https://www.economist.com/books-and-arts/2017/02/09/clock-watching (or go to https://peakcontent.s3-us-west-2.amazonaws.com/+Peak+Commentary/06-24-19_TheEconomist-Clock_Watching-Footnote_6.pdf)
https://www.goodreads.com/quotes/tag/time

Market Commentary – June 24, 2019

Market Commentary – June 17, 2019

Are we on the cusp of change?
The United States is doing quite well. Randall Forsyth of Barron’s reported: “…the U.S. economy and stock market both seem to be doing better than OK, thank you, as the expansion and bull market celebrate their 10th anniversaries. Unemployment is around the lowest level in a half-century. The worst thing seems to be that inflation continues to run slightly below the Fed’s 2 percent target, a problem that might strike some as similar to being too rich or too thin.”

The economic facts are encouraging, but recent events have potential to knock the U.S. economy off its tracks. The most significant threat may be a second round of oil tanker explosions in the Gulf of Oman. The U.S. accused Iran and Iran denied responsibility, reported The Economist. Tensions in the region are on the rise.

U.S.-China trade rhetoric heated up, too, which has some analysts concerned. It’s difficult to discern what’s truly happening, though. Reuters reported the United States stopped the World Trade Organization investigation of China’s treatment of intellectual property in early June. Some believe the action signaled a thaw in trade relations.

This week new concerns may rise to the fore. The Federal Reserve’s Open Market Committee meets Tuesday and Wednesday. Some hope it will decide to lower rates, while others believe a rate cut is unnecessary.

Major U.S. stock indices gained value last week, despite a spate of bad news, but change may be coming.

Plastic goes where few have gone before. In 2012, filmmaker James Cameron brought attention to the Mariana Trench, the deepest point on Earth (6.8 miles down), when he took a solo dive into its depths. The seafloor of the abyss also has been visited by at least one plastic bag, according to the Deep Sea Debris Database on ScienceDirect.

The Mariana Trench is just one of many unlikely places where plastic has been found. Jesse Li of Axios reported, “A marine biologist found 373,000 toothbrushes and 975,000 shoes on the beaches of a remote string of islands in the Indian Ocean.” In addition, the manmade material has made the trip to Point Nemo, the most remote location on Earth. Point Nemo is more than 1,000 miles from civilization in every direction – the farthest a person can get from dry land without heading into space, according to Atlas Obscura.

The pervasiveness of plastic is not too surprising. There is a lot of it in the world. Globally, almost 400 million tons of plastic were produced in 2015. Fifty-five percent of it was discarded, 25 percent was incinerated, and 20 percent was recycled, according to Our World in Data.

The glut of plastic pollution inspired Canada to ban single-use plastics last week. The goal is to eliminate use by 2021. The European Union has taken similar steps. As plastic use ebbs, new packaging materials are being developed. Biodegradable seaweed bubbles may replace plastic water bottles. Paper made from stone may wrap food products and fresh fruit may arrive to market wrapped in palm leaves.

Innovation creates opportunities for investors.

Weekly Focus – Think About It
“Growth for the sake of growth is the ideology of the cancer cell.”
–Edward Abbey, American author and essayist

Best regards,
John F. Reutemann, Jr., CLU, CFP®

P.S.  Please feel free to forward this commentary to family, friends, or colleagues. If you would like us to add them to the list, please reply to this email with their email address and we will ask for their permission to be added.

Investment advice offered through Research Financial Strategies, a registered investment advisor.

S&P 500, Dow Jones Global ex-US, Gold, Bloomberg Commodity Index returns exclude reinvested dividends (gold does not pay a dividend) and the three-, five-, and 10-year returns are annualized; the DJ Equity All REIT Total Return Index does include reinvested dividends and the three-, five-, and 10-year returns are annualized; and the 10-year Treasury Note is simply the yield at the close of the day on each of the historical time periods.
Sources: Yahoo! Finance, Barron’s, djindexes.com, London Bullion Market Association.
Past performance is no guarantee of future results. Indices are unmanaged and cannot be invested into directly. N/A means not applicable.

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* Government bonds and Treasury Bills are guaranteed by the U.S. government as to the timely payment of principal and interest and, if held to maturity, offer a fixed rate of return and fixed principal value.  However, the value of fund shares is not guaranteed and will fluctuate.
* Corporate bonds are considered higher risk than government bonds but normally offer a higher yield and are subject to market, interest rate and credit risk as well as additional risks based on the quality of issuer coupon rate, price, yield, maturity, and redemption features.
* The Standard & Poor’s 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. You cannot invest directly in this index.
* All indexes referenced are unmanaged. Unmanaged index returns do not reflect fees, expenses, or sales charges. Index performance is not indicative of the performance of any investment.
* The Dow Jones Global ex-U.S. Index covers approximately 95% of the market capitalization of the 45 developed and emerging countries included in the Index.
* The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market.
* Gold represents the afternoon gold price as reported by the London Bullion Market Association. The gold price is set twice daily by the London Gold Fixing Company at 10:30 and 15:00 and is expressed in U.S. dollars per fine troy ounce.
* The Bloomberg Commodity Index is designed to be a highly liquid and diversified benchmark for the commodity futures market. The Index is composed of futures contracts on 19 physical commodities and was launched on July 14, 1998.
* The Dow Jones Industrial Average (DJIA), commonly known as “The Dow,” is an index representing 30 stock of companies maintained and reviewed by the editors of The Wall Street Journal.
* The NASDAQ Composite is an unmanaged index of securities traded on the NASDAQ system.
* International investing involves special risks such as currency fluctuation and political instability and may not be suitable for all investors. These risks are often heightened for investments in emerging markets.
* Yahoo! Finance is the source for any reference to the performance of an index between two specific periods.
* Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
* Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful.
* Past performance does not guarantee future results. Investing involves risk, including loss of principal.
* You cannot invest directly in an index.
* Stock investing involves risk including loss of principal.
* The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee it is accurate or complete.
* There is no guarantee a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
* Asset allocation does not ensure a profit or protect against a loss.
* Consult your financial professional before making any investment decision.
* To unsubscribe from the Weekly Market Commentary please reply to this e-mail with “Unsubscribe” in the subject. 

Sources:
https://www.barrons.com/articles/the-rate-cut-the-economy-doesnt-need-but-the-markets-do-51560557553?mod=hp_DAY_1 (or go to https://peakcontent.s3-us-west-2.amazonaws.com/+Peak+Commentary/06-17-19_Barrons-The_Rate_Cut_the_Economy_Doesnt_Need_but_the_Markets_Do-Footnote_1.pdf)
https://www.economist.com/middle-east-and-africa/2019/06/13/who-is-blowing-up-ships-in-the-gulf (or go to https://peakcontent.s3-us-west-2.amazonaws.com/+Peak+Commentary/06-17-19_TheEconomist-Who_is_Blowing_Up_Ships_in_the_Gulf-Footnote_2.pdf)
https://www.reuters.com/article/us-usa-trade-china-wto/united-states-and-china-suspend-intellectual-property-litigation-at-wto-idUSKCN1TF1ER
https://www.barrons.com/articles/dow-jones-industrial-average-gains-as-interest-rate-decision-looms-51560555002?mod=hp_DAY_3 (or go to https://peakcontent.s3-us-west-2.amazonaws.com/+Peak+Commentary/06-17-19_Barrons-The_Dow_Gains_Again_as_a_Decision_Looms_for_the_Federal_Reserve-Footnote_4.pdf)
https://news.nationalgeographic.com/news/2012/03/120325-james-cameron-mariana-trench-challenger-deepest-returns-science-sub/
https://www.sciencedirect.com/science/article/pii/S0308597X17305195
https://www.axios.com/plastics-places-found-608053d3-eb2d-4fc3-9ffc-8c66eda65ed6.html
https://www.atlasobscura.com/places/point-nemo
https://ourworldindata.org/plastic-pollution
https://www.nationalgeographic.com/environment/2019/06/canada-single-use-plastics-ban-2021/
https://www.innovationexcellence.com/blog/2018/07/02/13-plastic-packaging-alternatives/
https://www.goodreads.com/quotes/21664-growth-for-the-sake-of-growth-is-the-ideology-of

One of the Most Important Things We Do for You

One of the Most Important Things We Do for You

Over the past several months, you’ve most likely heard or seen some combination of the following predictions:

If someone was forced to do nothing but read headlines and predictions, they would probably get whiplash. That’s because there’s always so much conflicting analysis and information out there about what’s happening, or what’s going to happen. The result is a lot of uncertainty – and if there’s one thing the markets hate, it’s uncertainty.

In this letter, I want to briefly recap a few of the stories behind that uncertainty. Then, I want to tell you exactly what my team and I are doing about it.

Trade War
The long-running Trade War with China blew up in a big way last month – and then expanded into a twofront war with our neighbors to the south.

Early in May, President Trump placed a new 25% tariff on all Chinese imports that had been previously been spared.1 Soon after, China responded with more tariffs of their own. Then, just as the smoke started to clear from that announcement, the White House announced a new set of tariffs – this time on Mexico.

Why does this matter to the markets? In the short term, it all goes back to uncertainty. Remember, a tariff is essentially a tax on imported goods. With over $50 billion a month moving back and forth across the border every month, higher prices on Mexican products could potentially have a major impact on the economy.2 After all, American businesses rely heavily on everything from Mexican cars to Mexican cables; from food to appliances. Tariffs could lead to longer and more costly supply chains, which in turn can eat into corporate profits.

When that happens, the markets hurt.

On the other hand, recent history suggests the markets can be remarkably resilient to the Trade War’s effects. Often, when new tariffs are announced, the markets will dip and then rise again. Furthermore, the news broke out on Friday, June 7, that the tariffs on Mexico will not come to pass – at least for the time being.3 That’s why the only thing we can be certain of is, well, uncertainty.

The Economy
After roughly a decade of growth, signs of a slowing economy continue to stack up.

Economists use various indicators to forecast where the economy will go. One indicator is the job market. While the nation’s unemployment rate remains historically low at 3.6%, fewer and fewer new jobs are being added. In May for example, the economy added only 75,000 new jobs, which seems like a lot but was far less than the 180,000 most experts predicted.4

Another indicator is the yield on U.S. Treasury bonds. To put it simply, the yield is the return you get on a bond. Bond yields will fall when bond prices – the amount you pay when you purchase a bond – go up. Bonds are often perceived by investors as being less risky than stocks, so during times of uncertainty, more and more investors will pile into bonds, driving up the price and driving down the yield.

Got all that? If not, that’s okay, because here’s what really matters. When the yield on short-term Treasury bonds rises higher than the yield on long-term bonds, economists tend to sit up and push their glasses further up their noses. That’s because this “inverted yield curve”, as it’s often known, is rare, and sometimes signals an impending recession.

An inverted yield curve is happening now.5

I could go on for pages and pages on how bonds and the overall economy intersect, but time is precious, and you shouldn’t have to spend yours reading about things like inverted yield curves. (That’s what you pay me for!) The point is, there are a number of indicators suggesting that the economy is weakening. On the other hand, optimists can point to other, equally compelling data – like the unemployment rate, the country’s GDP, and high consumer confidence reports – that says the economy is doing just fine.

So, how do we know what’s going to happen?
We don’t. Nobody does. Experts can make educated guesses. Analysts can make data-driven predictions. Some of those will undoubtedly come true. Most will be wrong. Nobody has a crystal ball. The greatest financial advisor in the world can’t tell you what will happen in the markets tomorrow, let alone next month or next quarter.

In the world of finance, uncertainty rules. Sometimes its influence is greater or lesser, but it’s always there.

But that doesn’t mean we can’t do anything about it.
I said at the beginning of this letter that I would tell you what my team and I are doing. I can sum it up in two words: Risk Management.
Risk management is the process of identifying, analyzing, accepting, and then working to mitigate the risks that come with uncertainty. It’s one of the most important things I do for clients like you!
Standard disclaimer: All investing involves some risk. It’s impossible to get rid of it entirely –nor would we want to! (It’s a truism that no risk means no reward.) But we can take steps to manage your risk, and that’s what my team and I do every day.
It’s true, I can’t tell you exactly what the markets will do. So, here’s what I can do instead:

Use rules-based investing and a sell-side discipline
These are just fancy terms for something very simple. While many investors practice something called “buy-and-hold”, where they pick some investments and then hold onto them no matter what, we put rules in place that determine when to sell an investment if it falls below a certain price, or is likely to. While we can’t control whether an investment will grow or not, we can take steps to protect you from losing your principal. The ancient Greek physician, Hippocrates, had a maxim: “First, do no harm.” I take a similar view. While we want to help you grow your money, we’re dead set on protecting your money.

Monitor trends by tracking supply and demand
Risk management is sort of like buying strawberries. When you go to the store, you might ask yourself, “Is it worth it to buy strawberries today?” The answer would depend on lots of things. Are strawberries in season? Are they more or less expensive than usual? Do they look ripe?

That’s how you determine whether buying strawberries is worth the risk or not.

We do the same thing with the investments in your portfolio. We look at whether there’s more supply or more demand for an investment – more buyers or more sellers – to determine whether that investment is trending up or down. We look at how strong or weak an investment is relative to other investments that are similar to it. We look at how close it is to the buy/sell price we’ve already established. (That’s rulesbased investing.)

That’s how we determine whether the investments in your portfolio are worth the risk or not.

Here’s why I’m telling you all this.  While we can’t know for certain how the Trade War will affect the markets, or whether the economy will veer into a recession, that doesn’t mean we’re sitting idle. I want you to know that my team and I are working constantly to analyze how these stories could affect your hard-earned money. We’re always working to manage the risk in your portfolio. To keep you on track to your financial goals. Sometimes, we try to speed up the journey. Sometimes, we may slow down, or move off the road entirely. But we always try to keep you pointed in the right direction.

If you ever have any questions or concerns, please contact us. In the meantime, I hope you enjoy a wonderful summer!

Three financial principles our fathers taught us

Three financial principles our fathers taught us

Three financial principles our fathers taught us

Happy Father's Day!

It’s June, and that means Father’s Day! 
As you know, Father’s Day is a chance to tell our dads how much we love and appreciate them.  A chance to say “thanks” for providing for us, protecting us, and teaching us – this last above all.
The older I get, the more I realize how important my dad’s lessons were in shaping my life.  Now, as a financial advisor, I also realize how important fathers can be in shaping a child’s financial future.  That’s because they’re often the first people to teach us good financial habits and principles – principles that remain with us for the rest of our lives.

So, in honor of Father’s Day, I would like to highlight:

Three Financial Principles our Fathers Taught Us
1. The importance of budgeting and saving
Did you ever plan a family vacation and see your dad sit down to budget everything from the plane tickets to the hotel to the cost of food and souvenirs?
Did you ever go to the carnival and get tempted to spend all your money on games and prizes – only for your dad to warn you that if you did, you wouldn’t have enough to go on that one ride you’d been salivating over?
Did you ever spend all summer delivering newspapers, babysitting, or mowing lawns, so you could buy those new shoes that all the cool kids were wearing? Only for your dad to insist you set the money aside for college, or your first car?
Life is a constant battle between choosing between what you want the most and what you only want right now. As a financial advisor, a big part of my job is helping clients achieve the former.
But when it comes to saving for what you want the most, there’s often no better financial advisor than a father.

2. Staying out of debt
When I was a kid, I remember asking my dad, “Why can’t we just use the credit card?” That’s when my dad sat me down and explained exactly how debt works, and how we should never buy what we can’t afford.

It’s almost impossible to achieve what you want the most if you have a lot of debt. Think of it like trying to sail in a leaky boat. No matter how much water you bail out, it will continue to sink. That’s what debt does to our finances.
Of course, it’s virtually impossible not to take on some debt, some time. But paying for college, or buying a house is a lot different than maxing out your credit card or buying a car you don’t have money for. The former is investing in your own future. The latter is robbing it.

Because fathers have so much to take care of, and so many people to be responsible for, they are often the first who teach us this crucial lesson. Which is why, for many of us, the only debt we owe is the debt we owe our dads.

A debt of gratitude.

3. When it comes to life – and finances – you get out what you put in
Sometimes in life, we all will fail a test, miss an opportunity, or get cut from the team. Sometimes, we’ll come home from school with a report card that’s less than ideal. During those times, it’s easy to think, “This is stupid, why should I bother, I hate this anyway.”

It’s during those times that dads often shine.

“All you can control in life,” the best dads often say, “is your own attitude. Your own work ethic. Your own time.” And that’s when we realize that maybe there was a reason we didn’t get the grades we were capable of. There was a reason we missed out on that job or got cut from the team. That’s when we realize that attitude determines effort, and effort determines our results.

In short, dads teach us that you only get as much out of life as you have put in.

As a financial advisor, I rely on this lesson every day. I teach people that if they want to grow their money, they have to invest their money. If they want to retire, they have to save for retirement. And the only reason I can teach it is because my dad taught me.

It’s possible, of course, that your own dad taught you vastly different lessons than the ones I’ve listed here. But whatever your dad taught you, let’s make sure we all take the time to tell our dads “Thanks.” Thanks for every lesson – about money, life, and everything.

May we continue to learn those lessons well.

On behalf of everyone at Research Financial Strategies, we wish you a Happy Father’s Day!

Need A 2nd Opinion?

We can manage your 401K, TSA, TSP, Simple Plan or Pension Plan.   If your portfolio lost more than 10% in the last recession, you need to take another look at how you are managing risk.

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Jim Streight James Streight Chief Marketing Officer

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