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 J. PINK ASSOCIATES, Inc.,
FINANCIAL ADVISORS
555 Taxter Rd. Suite 190 Ph- (914)524-7770
Elmsford, NY 10523 Fax- (914)524-7771
500 Summit Lake Dr. Suite 120
Valhalla, NY 10595 |
Weekly Market Review
for the week of - 06/14/2010 |
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| Greetings! |
Tip of the week
- Create a financial plan - I often say the best way to predict your future is to plan for it. I genuinely believe this. I guess another way to look at this would be to say if you fail to plan, you plan to fail. Your financial plan doesn't HAVE to be exhaustive, although the more thorough the better the chances you'll meet your goals, but it should AT LEAST address the "magic number" question, ie how much you will need to have invested so you can retire without the worry of outliving your assets. Ask yourself these two questions,
- Do I know how much I will need to comfortably retire and stay retired comfortably?
- If not, should I sit with someone who can help me figure it out?
If you answered no to the first question, you should have answered yes to the second. If that's the case, it's time to get some answers. |
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Market Commentary |
For the first time in 2010, retail sales in the USA dropped on a month-over-month basis. The $363 billion of purchases made by consumers in May was down $4 billion from April's total, but was up +$23 billion from total sales completed by Americans a year earlier in May 2009. Stocks recovered during the week as the S&P 500 gained +2.6% (total return), reducing its YTD loss to just 1.2% as of the close of trading last Friday (6/11/10) (source: Commerce Department, BTN Research).
The price of gold closed at $1,244 an ounce last Tuesday (6/08/10), an all-time nominal record. However many historians believe that gold's pricing apex occurred when bullion traded for $850 an ounce more than 30 years ago (1/21/80), equal to $2,400 an ounce on an inflation-adjusted basis (source: CME Group).
While speaking before the House Budget Committee last week, Fed Chairman Ben Bernanke was careful not to add to the angst already being felt by US investors. Bernanke skillfully avoided any finger-pointing (at Europe, at Congress or at BP), but rather focused on what he described as the nation's "slow but sustainable path of recovery," suggesting that over time the buying demand of the private sector will take the place of Washington-orchestrated stimulus spending (source: Federal Reserve).
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Notable Numbers | |
1. SUMMERSTOCK - The 3 summer months (June-July-August) have produced an average total return loss of 0.4% for the S&P 500 stock index over the last 20 years (1990-2009). However the stock index was up +11.7% during the 3 summer months in 2009. Through the end of May 2010, the S&P 500 was down 1.5% YTD on a total return basis. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market (source: BTN Research).
2. THE MONEY COMPANIES - The 79 stocks in the S&P 500 that are "financial" companies have tripled in value (i.e., increasing +206% from $523 billion to $1.598 trillion) from the close of trading on Monday 3/09/09 (i.e., just over 15 months ago) to the end of last Friday (6/11/10). Over the same 15 month period since the bear market bottomed on 3/09/09, the S&P 500 stock index has increased only +61%. Both return calculations do not include the impact of reinvested dividends (source: S&P).
3. BE CAREFUL - Revolving credit, which includes credit card debt, fell in April 2010, its 19th consecutive monthly decline. This total peaked in September 2008 and has fallen every month since then (source: Federal Reserve).
4. WHERE WE LIVE - More than twice as many Americans (48% of our nation's 309 million population) live in the Eastern Time Zone as compared to the combined population of Americans (23% of the nation) that live in the Pacific Time Zone and the Mountain Time Zone (source: Census Bureau). |
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Client Spotlight - June 2010
MIchael Getman, The Law Office of Michael Getman PLLC. |
 Our client in the "Spotlight" for June is Michael Getman, Principal of the Law office of Michael Getman PLLC, a law firm specializing in wills, trusts, estate planning and business law in Westchester NY. Michael & his wife, Barbara, live in White Plains, NY and have three sons.
Q. What type of Law firm do you run? A. My practice runs the gamut of estate planning services. I help my clients with everything from setting up a simple will to utilizing estate planning strategies to minimize estate taxes. Q. Where is your office located? A. 445 Hamilton Ave Suite 1102 White Plains, NY 10601 Q. What is the Phone #? A. (914) 220-5475 Q. Do you have a Website/ Email? A. Yes, www.WestchesterWillsLawyer.com / MGetmanESQ@optonline.net
Q. Do you have any additional certifications?
A. Yes, I'm an AARP certified attorney
Q. What do you charge for an initial consultation?
A. I do not charge for an initial consultation.
Q. Can you describe the estate planning process?
A. Sure, during your free consultation, we will complete a simple questionnaire. I will then make recommendations as to what you need to do in order to achieve your goals. In addition, if you wish during your consultation, I will review your current estate plan (if you have one) to determine whether it meets your current/ future needs.
Q. Can you tell us a little about the Business Law end of your practice?
A. The firm generally acts as general counsel to closely held businesses that do not have a lawyer on staff. As such, the firm deals with all aspects of the client's business including choosing the proper business entity, contractual issues, employment matters, joint venture agreements, purchases and sales of businesses, franchising, shareholder and partnership agreements, operating agreements, financing and raising capital.
Be sure to check out Michaels' offer below. |
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Michael has made this offer to you or any one you refer to him.
Free Initial Consultation
J. Pink Associates. | |
Can not be combined with any other offers |
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As always, if there's anything we can help you with, please feel free to call the office anytime.
I hope you have a great week.
Sincerely,
John
John W. Pink, Sr.
J. Pink Associates, Inc.,
Financial Advisors
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At J. Pink Associates, we do comprehansive 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 as assessment of the market and economic environment as a specific point in time and is not intended to be a forecast of future events, or a guarantee of future events, or a guaranteew 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 notpurport 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. Part performance does not guarantee future results. The S&P 500 is an unmanaged index of 600 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 Registerd 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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