A Word from the CEO

What a HOT summer it’s been! We hope you’re coping with the heat, finding time to relax and remembering to stay hydrated.

It’s also been a HOT time for the stock market as we’ve seen new highs in the market indices. For example, the S&P 500, a gauge of large-company stocks, gained more than 24% for the 12-month period ending June 30, 2024. Mid-cap, small-cap and international stocks also have performed well. While July has experienced some fluctuation, the Dow and NASDAQ indices also have exceeded the highs they achieved in early 2022 prior to the COVID pandemic when we saw declines in the equity markets. Accordingly, as we mentioned in the February issue of the Financial Pulse, you may want to consider rebalancing your JRB portfolio to lock in the gains that have accrued in your account.

Our article on rebalancing your account presents several reasons why rebalancing and updating your asset allocation makes sense. Just because an asset did well in one year does not mean that it will continue to post gains. Rebalancing allows you to "sell high" and lock in the profits that have accrued in your account. And, rebalancing allows you to make sure your portfolio reflects your comfort with risk and need for growth.

For many congregations, the start of summer often coincides with the beginning of a new fiscal year on July 1. If you received a raise, you might want to consider increasing your contribution to your JRB account. Remember, increased contributions will lower your income taxes now, the earnings will grow tax-deferred and your withdrawals may be subject to a lower tax rate when withdrawn in retirement. A win-win-win situation.

If you have questions about rebalancing, increasing your retirement contribution or your overall financial goals, please contact us via email or call us at 888-JRB-FREE (572-3733).

L'Shalom,