This Week from Jesse Hurst
Jesse W. Hurst, II

Horizon/Impel Wealth Management 
Investment Committee Perspectives
December 2018
It appears that a perfect storm of nervousness and concerns caused the financial markets to react in a very Grinch-like manner as we headed in to the Christmas and New Year's holiday seasons.
The combination of the Federal Reserve Bank raising interest rates for a fourth time this year, along with the government shut down and the continuing trade/tariff wars between the United States and China, the world's two biggest economies have caused a significant selloff, pushing markets down 20% or more from there September 24, 2018 all-time highs.
It is important to look at the volatile, emotional response from the markets in the context of what is going on economically. To help us do that, we have attached the December 21, 2018 investment commentary from Cetera Investment Management and our good friend Gene Goldman's team of analysts and market strategists. Please take time to read through the one-page synopsis. It paints a much more cautiously optimistic view of the future than what you were hearing from fear-based headlines in the 24-hour cable and internet news outlets.
Please also remember that for our clients that are still in the accumulation phase of life, trying to build the assets they need in order to retire successfully, that low prices represent an opportunity to buy while things are on sale. This is a counter intuitive thought process. However, if you want to build wealth and get results that most people do not, you have to do things differently than the general population. Remember, if the masses were right, the masses would be wealthy, and most are not.
It is also important to remember that with four Fed rate hikes this year, we are finally starting to see decent yields in CDs and short term/ultra-short-term bond yields. This gives people who are sitting on excess cash an opportunity to earn reasonable interest rates while not taking on too much risk in the process.
Please do not hesitate to call or reach out to your advisor if you have further questions. Remember that over an investing lifetime, or even over a 20 to 30-year retirement life expectancy, markets will go through ups and downs. We are here to help you understand and navigate these stormy periods, and to try to help you reach your financial, investment and retirement goals. We look forward to talking with you soon.
The views stated in this letter are not necessarily the opinion of Cetera Advisors LLC and should not be construed directly or indirectly as an offer to buy or sell any securities mentioned herein. Due to volatility within the markets mentioned, opinions are subject to change with notice. Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed. Past performance does not guarantee future results.
Investors cannot invest directly in indexes. The performance of any index is not indicative of the performance of any investment and does not take into account the effects of inflation and the fees and expenses associated with investing. No system or financial planning strategy can guarantee future results.

Jesse W. Hurst, CFP®, AIF®
Your Team at Impel Wealth Management

2006 4th St.
Cuyahoga Falls, Oh. 44221
Phone: (330)800-0182
Fax: (234)312-0460

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Impel Wealth Management 
2006 4th Street, Cuyahoga Falls, OH 44221    
P: 330.800.0182    TF: 844.422.5550    F: 234.312.0460