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NEW YEAR - NEW PERSPECTIVE
This new year is ushering in a pivotal moment in world history. So much change is already underway. Ultimately, our ability to have better balance, better education, better health, and more fun in 2021 rests in our ability to be more intentional in the moment. I am hopeful that the years to follow will enable us to be more productive, freer, and happier, so we can enjoy our lives, families, and friends more than ever before.

The year 2020 was truly unprecedented in so many ways. Every individual in every country has been affected by this pandemic. Everything globally has changed from both a professional and social perspective. The general consensus is that many of these changes will be integrated into our lives in some way. In fact, many have stated that COVID-19 actually just accelerated the trajectory we were already on anyway. It has caused a massive personal reset in how we think about our lives, what’s important to us, what our priorities are, and how we can live a more fulfilling life.

So as we journey into this new year together, we do so with a sense of new purpose and awareness. 

• HAPPENING AT AFP •
  • No More ClientsOnly email address As we mentioned in our last newsletter, we decided to retire our ClientsOnly@afp-advisors.com email box as of the end of last year. We gave this a good college try but it did not work as well as we had hoped. We ask that you contact us directly at our business email addresses in the new year.

  • Webinars from AFP      We are still looking at the idea of hosting monthly webinars. There are a few other items that are taking priority at the moment. We have appreciated your feedback on some topics you would like us to address. Please continue to let us know what topics or name you would like us to call this new venture.

  • The new normal equals status quo at the office and we continue to social distance from each other within our individual offices. Should a change to working conditions be necessary, we will let you know.

  • We continue to host Virtual Meetings using Zoom for your safety. Due to the size of our office conference room, proper social distancing is a challenge. We will return to face to face meetings when it is safe.

  • For those that must visit our office, please check in with us prior to visiting. Once you are in the parking lot, please give us call so we know you are here. There may be periodic road closures due to construction projects currently underway in the immediate vicinity of the office.
FYI

  • 2021 Required Minimum Distributions (RMDs) - For those required to take an RMD, the letters and forms will be going out this week. You may recall that the RMD's for last year (2020) were suspended due to the pandemic. We are not aware of any changes in the current tax law to suspend RMD's for 2021. However, if you do not need to take your RMD, you may want to delay taking this for a month or so to determine if this is an option being proposed with the new Biden Administration. We will leave this to your discretion. If we hear of any proposed changes, we will let you know. In the meantime, if you want or need to take your distribution, please let us know. We are happy to facilitate this for you.

  • Schwab's acquisition of TD Ameritrade slowly crawls forward. TD Ameritrade continues to operate independently for the time being although changes are eminent. The process is expected to take 18-36 months to complete. We will notify you of changes that impact us as information becomes available.

  • Orion Portal Update - Orion will be launching a new version of the Client Portal early in 2021. Please stay tuned for more details as the launch approaches. If you cannot access your Orion Portal, contact Tracey to request a password reset. The Orion Portal requires a password reset every 4 months (120 days) and becomes Inactive after 8 months (240 days).
• ON A PERSONAL NOTE •
+ Teri's World
January has been anything but boring on so many levels. One of my Christmas presents was the announcement that my daughter and son-in-law are pregnant and another one is on its way! So very excited for the new addition later this year. My son has been looking for a house to purchase for the last several months and one popped up that checked all the boxes the first week of January. His offer was accepted and he is closing is this week. Given this is his first house purchase and there are a lot of questions to find answers to, I have been a bit more involved in the process. I am very excited for him. He will be joining his sisters who also live in the Clintonville area, but he is as north as you can get without being in the city of Worthington. I did get away for a hike with some girlfriends on a Saturday and we made a great day of it. My old house has continued to have sewer related issues and water issues. This week both mysteries were solved after months of playing detective. Next step are the repairs. It just seems to never end. This past Saturday we celebrated my middle grandson’s 3rd birthday at a park. The hot chocolate with marshmallows were a hit!
+ What about Bob
We closed out 2020 with quite a bang!! Our grandson Lowell came into the world on December 31st. He was so anxious to join our crazy family that he came 11 weeks early and weighed 3lbs 7oz and was 16 inches long. Mom, Ashley (Our oldest) and Lowell are both doing very well. Ashley is home now but Lowell will be in the NICU for quite some time yet. He is slowly but steadily putting on weight and as long as he continues to hit his growth goals he may come home before his original March birthday. We just can’t wait to meet him!!

After such a huge event to close out the year, January has been pretty quiet and calm.
+ Tracey's Time
It is status quo at the Guthrie Home. It's a new year but the new normal continues relentlessly. We are patiently awaiting our turn for vaccine eligibility and this alone provides a bit of light at the end of the long tunnel. We have come this far and we can go the remainder if we just stay the course for a bit longer!

Cayleigh is attending school on a hybrid schedule with 2 days in class and 3 days online. She is looking forward to the upcoming spring sports season and plans to try out for the girls lacrosse team.
• POINTS OF REFERENCE •
Current Economic and Investment Information
YEAR ONE IN THE WHITE HOUSE - This year (2021) is the 1st year of Joe Biden’s 1st 4-year presidential term. The S&P 500 has been positive on a total return basis during just 13 of the last 23 “presidential 1st-years,” i.e., 1st-years dating back to 1929, but has been up 8 of the last 9 “1st years.” The average performance for the S&P 500 during the last 23 “presidential 1st-years” has been a gain of +7.7% (total return) (source: BTN Research).

THE INDEX TO FOLLOW - The S&P 500 stock index, worth $33.4 trillion as of 12/31/20, represents 81% of the $41.2 trillion market capitalization of all US stocks (source: S&P).

REALLY LOW - Inflation, as measured by the “Consumer Price Index” (CPI), was up +1.4% for 2020. For the decade of the 2010s (1/01/2010 through 12/31/2019), inflation was up just +1.8% per year, the lowest decade of inflation in the USA since the 1930s. By comparison, the decade of the 1970s (1/01/1970 through 12/31/1979) suffered +7.4% annual inflation (source: Department of Labor).

THEY OWN IT NOW - Banks foreclosed on 50,238 homes nationwide in 2020, down 65% from 143,955 foreclosures in 2019 and down 78% from 230,305 foreclosures in 2018. The worst single year of foreclosures in US history – 1,050,500 foreclosures in calendar year 2010 (source: ATTOM Data Solutions).

WHAT TYPES OF TAXES? - 35% of the total tax revenue taken in by state and local governments are property taxes, a total that is more than the combined tax revenue collected in the form of state income taxes (20%) and corporate income taxes (3%) (source: Tax Foundation).

LOAN OR A GRANT - The 3rd iteration of the “Paycheck Protection Program” (PPP) began last Monday 1/11/21. The first 2 PPP programs loaned out $522 billion while PPP # 3 will lend out as much as $284 billion to first-time business borrowers and to some small businesses as repeat-borrowers (source: Paycheck Protection Program).

PRINT AND PURCHASE - The Fed’s balance sheet reached $6.8 trillion as of 1/13/21, up from $3.9 trillion as of 3/11/20, the result of additional purchases of Treasuries (up +$2.2 trillion in 10 months) and mortgage-backed securities (up +$668 billion in 10 months) (source: Federal Reserve).

FOUR YEARS, EIGHT TRILLION - On 1/20/17, the day Donald Trump was inaugurated as POTUS 45, the national debt was $19.9 trillion. As of 1/14/21, the national debt was $27.7 trillion (source: Treasury Department).

ESTATE TAXES - The maximum amount that a deceased individual may pass onto his/her heirs federally estate-tax free (with proper planning) rises to $11.7 million in 2021, up from $11.58 million in 2020. The limit was $675,000 in 2001 or 20 years ago. Please consult a tax expert for details (source: Internal Revenue Service).
• TIMELY TOPICS •
This is a great article for moving into 2021 even though it addresses some 2020 year-end items. It gets the financial thinking juices moving either way.

As the year winds down, take this time to think about your future.
Your Year-End Retirement Checklist:
Prepare for a Great 2021 and Beyond

By Kathleen Coxwell
Money Talks News
NewRetirement.com
Feeling frazzled by holiday fanfare? Do you also have nagging worries about your retirement plans?

One of the best ways to control stress of any kind is to make a list and check it twice. And we have done that for you.

Here is a handy yearly retirement checklist — 24 things you should do before each year’s end to set yourself up for a secure and happy future.
1. Take a Minute to Identify the Financial Good and Bad of 2020

It is a best practice for most endeavors to identify the strengths and weaknesses of performance. Your financial life is no different. So, what did you do well financially this year? Where are the areas you could improve?

This has been a year like no other, so there is probably a lot to assess.
2. Establish Financial Goals for the Next Year and Ever After

So. What do you plan to earn, spend and save next year? What other financial goals do you have?

Do you have debt? Should you work on paying that down? Can you do a better job with investments or insurance? Have an idea for a side gig to bring in some extra money?

What about the amount of time you spend tracking and managing your finances? Can you set a goal of working on your finances an hour every week or month?

Keep reading to get more ideas for setting financial goals for 2021.
3. Optimize Your Finances for Lower Lifetime Taxes

Now is the time to make some moves to save yourself money on 2020 taxes.

Check out Year-End Tax Advice for Retirees. Effective tax planning could be the most important year-end thing you do.
4. If Eligible, Consider Opening an HSA

A health savings account (HSA) is an account that gives you triple tax benefits — tax-deductible contributions, tax-deferred growth and tax-free withdrawals when you use the money to pay for qualified medical expenses. If you are eligible (you have to have a high-deductible health insurance plan), it can be an excellent place to stash your money.
5. Evaluate Your Current Insurance Coverage

Insurance is a significant expense. And it is important to get it right.

Early Retirement Health Insurance: If you are retiring before age 65, make sure you can find affordable medical coverage to bridge you to Medicare eligibility.

Medicare: If you already have Medicare, be sure to assess your coverage. Actively shop for the best Medicare supplemental policy each and every year. Your health will change, and the policies change. It is worthwhile to rethink your coverage annually.

Long-Term Care: You may also want to look at ways to fund long-term care costs. Long-term care is not covered by Medicare or Medicare supplemental insurance.

Your Home and Other Assets: Review all of the policies covering your home and car and any other assets.

Life Insurance: Your need for life insurance in retirement depends on a number of factors.

Dental and Vision: Make sure you know how you’ll cover these expenses.

Lifetime Annuity: Annuities are often considered investments, but they are actually insurance products. A lifetime annuity covers your income if you live longer than you expect.
6. Don’t Guess: Figure Out Exactly What You Need for Retirement (or the Rest of Your Retirement)

Whether you are already retired, or nearing retirement, you need to know exactly how much money you will need to live comfortably for the rest of your life. According to a Merrill Edge Report, 19% of mass affluent Americans — U.S. households with investable assets ranging from $50,000 to $250,000 — have no idea how much they will need. And the guess-timates are wide-ranging:

  • 9% think they will need more than $2 million
  • 14% believe they will need $1 million to $2 million
  • 24% say $500,000 to $1 million
  • 23% say $100,000 to $500,000
  • 9% say $0 to $100,000
  • And 19% say they just don’t know

So, how do you figure it out? You have options. You can find a high-quality financial adviser or use a respected online calculator — just beware of simple tools.

Planning does not need to be scary or complicated. The NewRetirement Planner makes it easy. Take two minutes to enter some initial information, then see where you stand today. Next, start adding more details and changing some of your information. Discover meaningful ways you can improve your retirement finances.

This tool was named a new approach to retirement planning by Forbes Magazine and the best retirement calculator by the American Association of Individual Investors (AAII) and many others.
7. Think You Already Know What You Need? Check Again. Things Change

Creating a retirement plan is not something you do once and then never revisit. Experts recommend that updating all aspects of your plan be part of your yearly retirement checklist — doing this quarterly is even better. Lots of things change and evolve. Your plan needs to stay current with these developments. For example:

  • Investments might not have performed as you projected. You should update savings balances.
  • Your home’s value may have increased.
  • Perhaps you have gone back to work. It is great to add this income stream.
  • The inflation rate changed.
  • Perhaps your children moved back home.
  • And much more.

Just make sure your retirement plan reflects your current situation and your best guesses about what will happen in the future.
8. Over 72? Be Sure to Take Your Required Minimum Deductions

A report from Fidelity Investments says 61% of their account holders who are older than 72 (70 ½ if you turned 70 ½ before Jan. 1, 2020) have not yet taken their required minimum deductions (RMDs).

Yikes! Now is the time!

Don’t overlook this important yearly retirement checklist task! (Unless you are forgoing this requirement this year due to a coronavirus need.)

In most years, if you are older than 72, you are required to withdraw from your retirement accounts before the end of the year or else you will owe hefty penalties. (However, in order to provide relief during the pandemic to people who do not want to sell investments at a loss, you are not required to take your RMDs in 2020.)

Are you worried about the taxes you will pay, here are 6 strategies to help you minimize the costs of these RMD withdrawals — especially if you don’t need to use the money now.
9. Still Working? Max Out Your Retirement Savings

If you haven’t reached the contribution limits on retirement savings plans like 401(k)s and IRAs, then you may want to figure out a way to stash more money into these accounts. Have a year-end bonus? Cash gifts? A little extra money lying around?

Putting money into a retirement saving plan can have multiple benefits: You can:

  • Defer paying taxes on the amount contributed.
  • Build your retirement savings and compound those savings with future investment earnings.
  • Boost the value of your savings if your employer makes 401(k) matching contributions.

The 2020 contribution limits are:

  • $19,500 for 401ks, 403bs, 457s as well as Thrift Savings Plans. And, if you are 50 or older, the catch-up contribution is an additional $6,500. So, you can save a total of $26,000!
  • $6,000 for IRAs. And, the catch-up contribution for people 50 or older is $1,000. So, you can save up to $7,000 with tax advantages.

And, remember that you can max out both kinds of savings vehicles — and throw in a Roth account too!
10. Did You Spend Less This Year? Stick it in Savings!

Did you perhaps spend less money due to the pandemic? Less coffee from Starbucks? Fewer meals eaten out? No vacation? Did you buy less gas because the commute to the dining table was a lot shorter than to the office?

Stash those funds into retirement savings! Decreases in your spending could be a silver lining in the pandemic if you are able to put the savings to good use.
11. Boost Your Monthly Savings Rate

Another important thing to do if you are still working is to try to boost your savings rate. You may have received a bump in income this year.

You should definitely consider using that bump to increase how much you save each month.

And, according to a survey by Aon Hewitt, 91% of all employees have compensation packages that may include a year-end bonus. Get that money into retirement savings.
12. If You Haven’t Already, It Is Time to Automate Your Savings

Speaking of monthly savings, if you haven’t automated the retirement savings process, you should do that now! Saving for retirement takes willpower.

However, if you automate your savings, you’ll only need one burst of willpower to start the automatic withdrawals, then you won’t have to think about it. Commit — right now — to automating saving for retirement or for boosting the amount you are already saving.

Don’t think about it, and don’t consider how you might use that extra money for any non-retirement activities.
13. Create or Assess Your Investment Plan

Investment plan? Yes! You need an investment plan, and, if you already have one, you need to assess if it is still adequate to serve your current and future needs. An investment plan defines your strategy for how to invest your money and what to do when certain financial events occur.

Arguably the most important part of your plan is defining your asset allocation strategy — how much of your money is held in different kinds of investments: stocks, funds, bonds, CDs, real estate and more.
14. Rebalance Your Investments

Earlier this year the stock market lost significant value but is now back up — way up. Are you still in your optimal asset allocation positions? If not, it may be time to rebalance to restore your target percentages.

By rebalancing your investments, you can effectively minimize risk. Rebalancing essentially involves buying and selling portions of an investment portfolio to bring the weight of each asset class back to its target state.
15. Review Your Social Security Statement

You don’t have to be in your 60s to check in on your Social Security. In fact, if you have had a job, it is a good idea to check your benefits annually to make sure that your earnings and Social Security contributions are being recorded accurately.

It is easy to set up an online My Social Security account with the Social Security Administration.
16. Assess If You Need a Financial Adviser

As you review your retirement finances, you may find that you could benefit from the help of a financial adviser. Here are five reasons why you might want to seek help from an adviser:

  1. Get confidence and peace of mind about your retirement finances.
  2. Reduce tax liabilities and maximize wealth.
  3. Construct and maintain the optimal asset allocation strategy, including a well-defined action plan for using assets for retirement income.
  4. Help with making rational decisions — not emotional ones.
  5. Keeping your finances up to date and making sure you don’t miss opportunities due to indecision or procrastination.
17. Do You Have an Emergency Fund?

According to Bankrate, only 39% of people can cover a $1,000 setback using their savings. Where does the money come from when the unexpected happens? More than likely, it comes from the retirement fund. And that’s a risky game to play.

Most financial experts recommend saving no less than three to six months’ worth of living expenses available in an easy to access checking account, with six to nine months being a safer amount to work toward.

The rest of your money should be working for you and earning interest.
18. Consider a Roth Conversion

Roth conversions and figuring out the best time to use them can be complicated. With traditional retirement savings accounts, you pay taxes when you withdraw money from the account. Roth accounts on the other hand are taxed when you invest the money.

Converting traditional funds into a Roth account can be a smart move in years when you are reporting a low income or have a lot of deductions.
19. Review Expenses

As the year nears a close, now is as good a time as ever to look over your expenses from the past 12 months in order to get an idea of how much you’ve spent. This will help you plan for the future. You may also want to make sure that your retirement plans take into consideration the different phases of spending you will likely experience throughout retirement.

It is widely accepted that there are three stages of retirement — each with fairly predictable spending needs and levels.

Phase 1 – Early Retirement: The first stage of retirement is characterized as a time of adventure and experiences. With more free time and relative health, there are a lot of opportunities for spending money. Some experts recommend that retirees budget for spending 20% more in this phase.

Phase 2 – Middle Retirement: While you may still be enjoying adventures in middle retirement, many people find that they simply spend more time with friends and family and stay a little closer to home. In this phase, your retirement spending may be at its lowest levels.

Phase 3 – Later Retirement: No matter how healthy you are and how well you age, there is no denying that health care expenses ramp as you get older. In fact, health care costs grow so much that this last phase of retirement is usually the most expensive phase of life. Out-of-pocket medical spending and long-term care costs absolutely skyrocket.
20. Review Where You Live and Your Housing Situation

Where you live plays a huge part in your satisfaction with retirement. And your home is also probably your biggest expense and most significant asset. Now is a good time to assess whether you are satisfied with where you live and whether or not it is a good fit for your finances and desired lifestyle.

The NewRetirement retirement planner lets you model downsizing, refinancing or getting a reverse mortgage to help you see the impact of a housing change on your overall retirement finances.
21. Have a Mortgage? Assess and Consider Refinancing

With interest rates at record lows, you may benefit from refinancing.

However, whether you decide to refinance or not, assess where you stand with your home and make plans for your home. You may want to set a goal of paying off your mortgage, tapping home equity for retirement or relocating to a place better suited to your interests.
22. Review Estate Plans

An estate plan can ensure that your loved ones are cared for. A good estate planner or financial adviser will also help you maximize your wealth.

Make sure wills and trusts are updated. In the wake of recent celebrity deaths, we have learned how common it is for people to have neglected estate planning. Prince, Aretha Franklin and Michael Jackson all died without a will. And thousands die every year with an estate plan that was not recently updated.

Also check beneficiary designations. Ensure that all beneficiary designations on life insurance policies, annuities and retirement accounts like IRAs and 401(k)s are up to date. Beneficiary designations govern how these assets pass to heirs, and they supersede any other directives like a will.
23. Medical Check-Ups and Health Goals

Getting medical appointments can be difficult at the end of the year — especially this year — but it is important to make sure you are having regular check-ups.

You should also use this time to set goals for your physical (and mental) health.
24. Last, but NOT Least: Assess and Set Goals for Your Time

When it comes to retirement planning, everyone’s goal is pretty much the same: Create a plan so that you may live happily and comfortably in your non-working days. However, to have success with this goal, you need to make it much more specific, set priorities and visualize exactly the future you want.

You can set retirement goals for the near term — this year — or for the rest of your life.

But, the most important goals you have are related to your lifestyle. What are your beliefs? What do you most care about? What do you want to be remembered for? How do you want to spend your time in retirement and with whom?
Bankruptcy Anomaly
https://www.moneygeek.com/coronavirus/states-most-coronavirus-bankruptcies/ 
You’re probably thinking that the 2020 pandemic environment created a massive flood of commercial bankruptcy filings, perhaps unprecedented since the Great Depression. There have been a number of high-profile filings from well-known companies like Hertz, Neiman Marcus and JCPenney.

But the surprising truth is that bankruptcy filings, overall, are actually down from recent averages in the U.S. economy. The chart included here tracks the total number of commercial bankruptcy filings (blue line) since January 2006. You can see the Great Recession peak toward the middle left side of the graph, which is somewhat jagged since this is monthly data. To the right, you can see that the bankruptcy numbers have been trending downward ever since, and seem unaffected by the pandemic.

Will that last? The graph also shows the number of unemployed Americans for each month over the same time period, and you immediately see how closely these fluctuating unemployment numbers track the fluctuations in the bankruptcy rate—that is, until recently. Notice that the unemployment numbers went up during the Great Recession, right along with the number of bankruptcies, and then declined along with bankruptcies until 2020. As the pandemic hit, suddenly there was a sharp divergence; unemployment spiked up to near-record highs, while bankruptcies continued along the same downward trend.

What does that mean? It’s never easy to predict the future, but unless there has been a dramatic uncoupling of unemployment and bankruptcy filings, we might experience a jump in businesses throwing in the towel in the first quarter of 2021.

Meanwhile, the pandemic seems to have hit some state economies harder than others. Texas and New York have experienced bankruptcy rates, since March of 2020, of 16.65 businesses per ten thousand, and 12.48 respectively, by far the highest rates, outpacing #3 Nevada (8.84 bankruptcies per 10,000 businesses), #4 Virginia (7.56) and #5 Delaware (7.01). At the other end of the spectrum, Rhode Island was experienced zero bankruptcies since March, while businesses domiciled in Connecticut (0.34), Iowa (0.36), New Hampshire (0.52) and Oregon (0.67) seem to have been strangely unaffected by the Coronavirus impact on the U.S. economy.
The Truth About Lies
Your susceptibility to scams may be linked to your beliefs about honesty

By Doug Shadel
AARP - The Magazine


Is there a little bit of a scammer in you? The answer is probably yes. Studies suggest that the majority of us lie a few times a day, although often they are pretty innocuous. Until the pandemic arrived, one of the most common lies in America reportedly was "I'm on my way," often said while still seated in the office or in front of the TV. And many of us are about to engage in a widespread set of seasonal lies: the New Year's resolution.

I joke, but lying is not a trivial subject. All scams fundamentally rely on getting the victim to believe in a lie. Which suggests that the very best way to prevent scams is for all of us to become better lie detectors.

So what prevents that?

To answer this, I turned to Jeffrey Hancock , a professor of communi­cation at Stanford University and a noted expert on how and why we lie. I had read that he and his colleagues at the Stanford Social Media Lab had conducted a study on something called the deception consensus effect. They looked at lying in the context of mobile dating and found that the more subjects self-reported lying in text conversations with their partner, the more they believed that their partner was also lying. So if I lie to you, I assume you are lying to me.
Reading his research sparked memories of an interview I did years ago with a 72-year-old retired professor in California who had lost more than $900,000 to investment scams over five years. We discussed his experiences for several hours, and I was thoroughly impressed by his intellect, sense of humor and knowledge of world events. He seemed sharper than a tack.

Toward the end of our interview, I asked him what he thought had made him vulnerable to swindlers. He told me he had spent his entire professional life working with honest folks who routinely told the truth, like he did. He just assumed everyone was like him and his colleagues, and so he couldn't imagine there were people who would look you straight in the eye and lie.

I told Hancock about my professor and asked him if he thought the inverse of the deception consensus effect might also be true: that those who lie less assume their partners and others around them also lie less, making them vulnerable to cons.

''Yes, I think that is exactly what happens," Hancock said. "People who lie less also assume others do not lie often. So your poor professor fits this idea really well."
This is an important point: If you are like most people, you assume that those around you are roughly as truthful or deceitful as you are, and you act in accordance with that belief. And when people deviate from that, it can come as a surprise.

Is this simple naivete, or is there a more important psychological mechanism at play? Hancock hardly thinks that trust is a character flaw. "In fact, it's the difference between well-functioning societies and ones that are stuck with corruption. The U.S. does well in part because of the laws and regulations we have, which help us trust one another. This reduces the cost of social interactions."

It's arguably the perfect time for such an observation. With the proliferation of fraud and lying around us today, I find myself telling people to be wary all the time. Hancock thinks there is a middle ground. "We want people to be able to trust. What you could say is, when something is high stakes - when we're talking about a big financial move or important decision - that's when they need to become more analytical or by the numbers."
In other words, be aware that there are many different levels of falsehoods operating around you. As you encounter people or organizations outside your circle of trust, don't assume they will act with the same ethics and honesty as you do. Be skeptical, look at the culture they come from, and grant trust to strang­ers stingily and carefully. And if they want you to hand over your money for any purpose, apply the "Shade! rule," formulated after 40 years of chasing dishonest scam artists: "Guilty until proven innocent."
• QUOTE •

“The past is prophetic in that it asserts loudly that wars are poor chisels for carving out peaceful tomorrows”

- Marin Luther King Jr.
Alexander Financial Planning
1621 W. First Avenue
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This material is distributed by Alexander Financial Planning, Inc., (AFPI) and is for information purposes only. Although information has been obtained from sources to be reliable, we do not guarantee its accuracy. It is provided with the understanding that no fiduciary relationship exists because of this report. Opinions expressed in this report are not necessarily the opinions of AFPI and are subject to change without notice. AFPI assumes no liability for the interpretation or use of this report. Financial planning, investment conclusions and strategies suggested in this report may not be suitable for all investors and consultation with a qualified advisor is recommended prior to executing any investment strategy. All rights reserved.