January 2020
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Outlook 2020:
Bringing Markets Into Focus
2019 has come to a close and as we reflect on the past year, we remember the importance of staying focused on maintaining a long-term perspective. The past 12 months certainly tested us with bouts of market volatility but ended up being a very rewarding year.

As we begin a new year and a new decade, there will be some key trends and market signals that will be important to watch for. LPL Financial's research team has released its Outlook 2020: Bringing Markets Into Focus, which consists of financial market forecasts, economic insights and investment guidance for the year ahead.

We encourage you to read through the interactive version of LPL's 2020 Outlook by clicking here.
What You Should Know About Borrowing from Your 401(k)
If you're ever in a pinch and need money to cover an unexpected expense, you may look at borrowing from your 401(k) as on option - if getting financing elsewhere isn't possible.

While raiding your retirement plan for cash is not recommended, there usually is a way to do so if it's necessary, either by taking an early withdrawal or a 401(k) loan. A 401(k) loan is when you borrow money you've saved up in your retirement account with the intent to pay yourself back - but even though you're lending money to yourself, it's still a loan that's charging interest that you're on the hook for. 

When cash is tight, borrowing from your 401(k) plan may seem like a good idea, but before you do so, be sure to weigh all of your options and make sure you understand all of the terms. 

Click here to see what you should know about borrowing from your 401(k).
Did You Know?
- Each year about 11 million workers turn to their retirement plan for money, stating various reasons ranging from paying down debt to taking a vacation.

- 29% of Americans who participate in a retirement plan say they've taken out a loan from their plan, and 44% of those regret their decision to do so.

- 47% of those who have taken a loan from their retirement plan borrowed more than 20% of their savings, with 9% borrowing more than 50%.

Source: CNBC.com, 2018
Saratoga Winterfest 2020
Every year Saratoga Springs celebrates the spirit of winter with weeks full of events! Saratoga Winterfest 2020 will begin on Saturday, February 1st with its annual Chowderfest. The festival also includes a wine and beer tasting, the Frozen Springs Classic pond hockey tournament and much more!

Take a look at the Saratoga Winterfest event schedule and start planning your winter entertainment!
Robert Schermerhorn, CFP® 
Jamie Usas, CFP®,
Operations Manager
Amanda Friedman,
Wealth Consultant
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18 Division Street, Suite 305
Saratoga Springs, NY 12866
Phone: 518-584-2555

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Planning Tip
Don't forget! Although 2019 has come to an end, you still have until mid-April 2020 to make an IRA contribution for the 2019 tax year.

2019 contribution limits are $6,000 for those younger than 50, or $7,000 for those 50 or older.

Please call our office at (518) 584-2555 if you have questions or would like to make a contribution!
Securities & advisory services offered through LPL Financial, a registered investment advisor, member FINRA / SIPC

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.