If you have recently moved or opened a PO Box, be sure to send us your new information.
If you are Power of Attorney (POA) for a loved one, please double check that we have those helpful documents on file. Keep in mind, if your parents have sold their home or moved to an assisted living home, please let us know.
If you no longer use your home telephone number or would prefer for us to contact you on a cell phone, let us know.
Perhaps you would like to add your email address to your profile as an additional contact resource. We do utilize email for our monthly newsletters and any office events or updates.
If you have a change to your bank account that is linked to your LPL Financial accounts, it is crucial to have the correct account linked for any distributions or requested money transfers. If you have any questions, please call the office at (518) 584-2555.
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Markets rarely give us clear skies but the right preparation, context, and support can help us navigate what lies ahead. So far, this year hasn’t seen a full-blown crisis like 2008- 2009 or 2020, but the ride has been very bumpy. How businesses, households, and central banks steer through the rough air will set the tone for markets over the second half of 2022.
The sources of turbulence are clear. A global economy that was already vulnerable to inflation from supply chain disruptions, tight labor markets, excess stimulus, and loose monetary policy came under more pressure when Russian aggression in Ukraine added sharply rising commodity prices to the mix. The effects have included renewed pressure on interest rates, which hurt bond investors and contributed to tightening financial conditions, and a much more aggressive stance by the Federal Reserve (Fed) and other global central banks.
Understandably, rising prices, slowing economic growth, and a challenging first half for both stocks and bonds have many investors on edge, and fatigue from more than two years of COVID-19 measures doesn’t make it any easier. But the markets are always forward looking, so it’s important to remain focused on what lies ahead. There will most certainly be challenges, but there are also some tailwinds from a strong job market, still resilient businesses, and the likelihood that inflation will soon start to slow. Markets historically can even get a little lift from lower uncertainty around elections as midterms approach.
Turbulence cannot be completely avoided, but it also need not deter us from making progress toward our financial goals. LPL Research’s Midyear Outlook 2022: Navigating Turbulence is designed to help you assess conditions over the second half of the year, alert you to the challenges that may still lie ahead, and help you find the smoothest path for making continued progress toward your destination. When times are turbulent, the surest path toward progress remains sound financial advice from dedicated professionals who have logged many hours in similar conditions.
Sincerely,
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It is back to school season, which means it is 529 season. What exactly is a 529? Named after Section 529 of the IRS tax code, it is a college savings plan! Eligible to be used for public or private community colleges, four-year universities, graduate schools and vocational-technical schools, in the United States and overseas. Just about anyone can open a 529 account- parents, grandparents, other relatives or friends. As an account owner, you assign the beneficiary and help determine how the funds that have been saved, can be used towards a loved one’s future schooling. The money can be used for more than just tuition; it can also be used for books, supplies, computer software and room and board. To learn more about the benefits of a 529, click here!
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Did You Know?
August 14th is "National Financial Awareness Day"
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Financial Awareness Day is a day where you can dedicate time to review where you are now and where you are going financially. Every August 14th you can focus on saving, investing and building up your accounts to better your financial future. Are you truly aware of your account balances, contributions to your accounts or spending habits? Take this August 14th to become more in tune of your finances!
Fun ways to observe National Financial Awareness Day:
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Invest- very rarely do you get a chance to spend your money on something that gives back. Consider using National Financial Awareness Day as a day to start your investing journey, it sure does pay off.
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Take a trip to the U.S Mint- what better way to celebrate money than by finding out how it's made! There are four U.S mint locations- Philadelphia, Denver, San Francisco & West Point.
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Get smart about your money- create a budget. The numbers may shock you, but knowledge is power.
(Source:Nationaltoday.com)
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Summertime in Saratoga Springs |
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Check out all the summer fun happening at Congress Park this month. Every Tuesday is the Congress Park Vendor & Craft Festival during the day, then on Tuesday evenings you can listen to the Annual Summer Concert Series at the park! Take a look at all the summer fun happening around Saratoga Springs at the Saratoga Race Course, SPAC, Saratoga Lake and more! |
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Robert Schermerhorn, CFP®
Jamie Usas, CFP®
Operations Manager
Amanda Friedman
Wealth Consultant
Andrew Chapman, CFP®
Operations Research Associate
Lauren Bliss
Office Coordinator
Saratoga Financial Services
18 Division Street, Suite 305
Saratoga Springs, NY 12866
Phone: (518) 584-2555
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Securities & advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC
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