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| J. PINK ASSOCIATES, INC.,
FINANCIAL ADVISORS
555 Taxter Rd. Suite 190
Elmsford, NY 10523
Ph... 914-524-7770
Fax. 914-524-7771
Weekly Market Review |
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| Greetings!
As some of the media barrages us with "over-sensationalism" about our current economic situation, I am concerned that the general investing public (including some of my clients) may not be able to find the facts that may affect their own investment plan. It is easy to get caught up in the "doomsday" talks heard on many financial channels (and non-financial channels). I think many people need to take a step back and think, what is the "job" of the person speaking? Are they selling books, seminars, advertising space for their show, or just trying to get people to tune in? How does this affect my financial plan? My goal has always been to educate my clients and help them understand what financial factors affect their individual situation.
So, if as you are listening to the reports that are inundating us from every angle, you find yourself thinking, "That doesn't sound right to me" or "How does this affect me?" Please feel free to call my office so we can chat about it. It always has and always will be my goal to give you relevant information and try to explain how that information affects your personal situation.
Fondly,
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| Market Commentary
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Just 9 weeks into calendar year 2009, the S&P 500 is down 23.9% YTD (total return), having lost $1.9 trillion of market value since the start of the year. The stock index began trading today at 683, a level investors have not seen on a Monday morning since mid-September 1996 (i.e., 12 ½ years ago). One year ago today, the S&P 500 was at 1293 (source: BTN Research).
The nation's monthly job loss of 651,000 workers during February (reported last Friday) was expected but was still disturbing (the S&P 500 actually rose slightly for the day). Two million Americans have lost their jobs in just the last 3 months, 3.7 million in the last 6 months. One out of every 7 Americans is either out of work or is working part-time while seeking full-time employment (source: Department of Labor).
Both Wall Street and Main Street will continue in the coming days to absorb and understand the barrage of proposals that came out of Washington last week, including the details on President Obama's housing plan, the numbers behind the fiscal year 2010 budget and the beginnings of what may be a massive overhaul of the health care system in the USA (source: White House). |
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1. WILL WAIT - 68% of Americans anticipate they will need to postpone their age of retirement by at least 2 years as a result of the bear market that hit US stocks beginning in October 2007 (source: Money).
2. $100 GRAND - 4 out of every 7 American families (57%) have experienced stock losses (i.e., realized or unrealized) of at least $100,000 during the current bear market. From its all-time closing high set in early October 2007, the S&P 500 is down 56.3% through last Friday's close. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market (source: Kiplinger's, BTN Research).
3. SAME PROMISE - On 7/19/03, then President George Bush urged Congress in his weekly radio address to "make spending discipline a priority, so that we can cut the deficit in half over the next 5 years." On 2/23/09 at the beginning of his 1-day "fiscal responsibility summit" held with Democratic and Republican leaders along with outside experts, President Barack Obama pledged to "cut the deficit we inherited in half by the end of my first term in office" (source: White House).
4. AT THE HIGHEST LEVEL - President Obama proposed on 2/26/09 in his fiscal year 2010 budget plan to increase the top individual marginal tax bracket to 39.6% as of calendar year 2011. The current top marginal tax bracket is 35% (source: White House). |
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At J. Pink Associates, we do comprehensive financial planning and wealth management for families and small businesses by getting to know the unique details of your financial world and thoughtfully crafting a strategy to identify and support your goals.
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This material represents an assessment of the market and economic environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed by NFP Securities, Inc. as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. The indices mentioned are unmanaged and cannot be directly invested into. Past performance does not guarantee future results. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market.
Securities and Investment Advisory Services offered through NFP Securities, Inc. a Broker/ Dealer, Member FINRA/ SIPC and a Federally Registered Investment Advisor.
NFP Securities, Inc. does not offer tax or legal advice
NFP Securities, Inc. Is not affiliated with J. Pink Associates, Inc., Financial Advisors
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