October is here! Along with cooler temperatures, colorful leaves, and spooky Halloween decorations, October also includes Financial Planning Month. If something has changed in your life and you need to make some updates to your plan, or if you’d like to get together to review your current allocations, we’d love to hear from you. If you don’t yet have a financial plan, call us to set up an appointment.
We saw a lot of turbulence in September…not just in the financial markets but also with the weather. Hurricane Ian delivered a knock out punch to Florida with heavy rains, high winds, and historic flooding. Search and rescue efforts are still underway, and our hearts go out to all those who were impacted. If you would like to donate in support of relief efforts, here is the Red Cross donation page.
Regarding financial turbulence, September is historically a bad month for investors. Over the years, the S&P 500 has averaged a 1% September downturn, but it fell by more than 9% this September. OUCH. That makes it the worst September since 2002 when it fell by 11%. By the end of September, a;l three major indexes were solidly in bear market territory (meaning they had fallen more than 20% each from their highs). Pretty much everyone is feeling like the best thing to do with money is to stuff it under the proverbial mattress.
But, the worst thing you can do is panic sell, which locks in the loss. From a strategic perspective, many talking heads say now is a great time to invest in the markets, assuming you have extra money to spend and you’re planning to invest for the long-term. You know the old adage, “buy low, sell high.” When markets are down, that presents an opportunity to buy when prices are low.
As always, we’re here to help. Just give us a call if you want to chat about your future goals, investment options, or current economic conditions.