The 3 Things to Secure Your Retirement Dreams in 2018!

[av_one_full first min_height=\’\’ vertical_alignment=\’\’ space=\’\’ custom_margin=\’\’ margin=\’0px\’ padding=\’0px\’ border=\’\’ border_color=\’\’ radius=\’0px\’ background_color=\’\’ src=\’\’ background_position=\’top left\’ background_repeat=\’no-repeat\’ animation=\’\’ mobile_display=\’\’]

[av_heading tag=\’h3\’ padding=\’10\’ heading=\’The 3 Things to Secure your Retirement Dreams in 2018!\’ color=\’\’ style=\’\’ custom_font=\’\’ size=\’\’ subheading_active=\’\’ subheading_size=\’15\’ custom_class=\’\’ admin_preview_bg=\’\’ av-desktop-hide=\’\’ av-medium-hide=\’\’ av-small-hide=\’\’ av-mini-hide=\’\’ av-medium-font-size-title=\’\’ av-small-font-size-title=\’\’ av-mini-font-size-title=\’\’ av-medium-font-size=\’\’ av-small-font-size=\’\’ av-mini-font-size=\’\’][/av_heading]

[av_image src=\’https://gainerfinancial.com/wp-content/uploads/2017/12/2018-retirment-plan.jpg\’ attachment=\’904\’ attachment_size=\’full\’ align=\’left\’ styling=\’\’ hover=\’\’ link=\’\’ target=\’\’ caption=\’\’ font_size=\’\’ appearance=\’\’ overlay_opacity=\’0.4\’ overlay_color=\’#000000\’ overlay_text_color=\’#ffffff\’ animation=\’no-animation\’ admin_preview_bg=\’\’][/av_image]

[av_hr class=\’invisible\’ height=\’30\’ shadow=\’no-shadow\’ position=\’center\’ custom_border=\’av-border-thin\’ custom_width=\’50px\’ custom_border_color=\’\’ custom_margin_top=\’30px\’ custom_margin_bottom=\’30px\’ icon_select=\’yes\’ custom_icon_color=\’\’ icon=\’ue808\’ font=\’entypo-fontello\’]

[av_textblock size=\’\’ font_color=\’\’ color=\’\’ av-medium-font-size=\’\’ av-small-font-size=\’\’ av-mini-font-size=\’\’ admin_preview_bg=\’\’]
As the new year begins, looking back, how was 2017? Did you accomplish everything you set out to do? Do you look at it as a good year or bad year? Each year, at this time, I like to take a few minutes to look back, review some of the highlights (and lowlights) and then take a look forward.

I’d like to offer some insights into what you can look forward to in 2018 that might help you achieve your personal vision for a happy, secure future!

Looking Back to Look Forward

As we look back, there was a lot going on this past year. Some of the things that happened created opportunities, while others created challenges. Overall, there were many things that will have an effect on our lives both directly and indirectly, sometimes for years to come.

Here are a few of the highlights:

A New President and Congress

Donald Trump has certainly been a unique president. Like him or dislike him, he has challenged the status quo. Many of the ideas he has forwarded have gone nowhere, while others will change the landscape for years to come. Probably the most widespread effect will be from the recently passed Tax Bill. We will be sorting out the labyrinth of this bill over the coming weeks and updating you on the positive and negative provisions that may change your strategies in many areas. Since many folks I have been speaking with lately are very worried about this topic, I strongly recommend that you meet with your advisers early in the new year so you can make the appropriate plans to avoid falling into areas of the tax landscape that might cost you dearly. Tax planning this year will be more important than it has been in decades.

The Equifax Hack

Equifax had their computers hacked and millions of peoples personal data was stolen. Many will end up having their identities stolen as a result, causing stress, financial costs, and frustration as you try to clear up your credit reports and benefits. Equifax wasn’t the only one, so it reinforces how important it is to operate carefully, protecting your personal information to the best of your ability. A friend of mine recently googled Honey Baked Ham in order to buy their holiday ham. They clicked on the first link that looked correct. The website said it was having trouble and directed them to call a toll free number when she called the number, they took her info and then ran up charges on her card for stuff she didn’t want. Luckily, she figured it out and contacted the credit card company in time to stop the charges from going through. It turns out the web address (URL), was slightly off from what it should have been, so she had been directed to a spoof site, based on the placement of the entry in her search results. Remember to look at addresses for websites and emails to make sure they are coming from the source they claim they are.

There Were Many Major Natural Disasters

From hurricanes to earthquakes, to wildfires, 2017 has been one of the worst years on record for property losses and deaths due to nature. While we all know that these kinds of things happen, until one is directly impacted by one, there is a tendency to procrastinate in making plans to survive such events. These experiences point out the need to have plans in place to manage all kinds of risks, as I wrote about last fall. Your life can change in minutes, those who are prepared will not only survive but in many cases, thrive as a result of being ready with a plan. We can help you review, identify and plan for these contingencies. In many cases, there isn’t a cost to those preparations, just a commitment of time and energy.

The Stock Market Hit New Highs

The past year has been unusual for the stock market in several ways. First, if December finishes with a positive rate of return, this will be the only time the stock market went an entire calendar year without a down month! This is an unprecedented lack of volatility. The stock market hit many new highs in the past year. While the past 8 plus years have seen extraordinary gains in the stock market, the longer we go without a correction, the greater the correction generally becomes when it hits. Think of it like a pressure cooker. If you drill down and look at individual stocks, and not just the indexes, you will see that the growth in the indexes is due to a shrinking number of stocks that are going gangbusters (think Google, Apple, etc.).

The New Department of Labor Fiduciary Rules

Starting this year, any financial adviser that helps you with a retirement account (401k, IRA, Roth, SEP, 403b, etc.) must act as a fiduciary. This means that they must act in your best interest, before theirs. They also have to disclose much more about expenses, fees, costs and commissions on the investments you purchase to fund those accounts. I think this is a positive development for consumers as it sends things in a positive direction. However, there are a number of issues regarding the rules that have yet to be completed and clarified, so stay tuned.

As we look forward to the coming year, I think there are many opportunities and challenges we each will face as the year unfolds.

Increased Complexity

Instead of “reforming” taxes by simplifying how we are taxed, the tax bill actually created a lot of new complex changes that will open up planning opportunities (like the new corporate taxation rules for “pass-through” organizations), or challenges that could cost you big time (like the new limits on certain deductions for taxes, expenses and other previously deductible items).

Increased Volatility

As many of the changes take effect, there will be winners and losers. When volatility picks up, usually opportunities and risks increase. Given the way the markets work these days, changes could come swiftly and powerfully. This could do real damage to those who haven’t planned for it. I encourage you to take the time early in the new year, to meet with me or your other advisers to prepare for the inevitable changes to market and other investment dynamics this year.

Interest Rate Increases by the Fed

This year the Federal Reserve has increased interest rates three times. Those increases haven’t made much difference yet, but we could see the effects taking hold next year, especially if they keep increasing. This will likely create winners and losers, especially with bond mutual funds, certain stock market sectors, and real estate. Again, I encourage you to take time and plan to respond to the changes. That way you can not only avoid significant losses but possibly identify opportunities for growth as well!

Schedule Your 2018 Planning Session Now

As any year winds down, it is a good time to take stock and set plans for the coming year. Given everything that has gone on in 2017, it is more important than ever to evaluate your situation! Some old strategies will be obsolete and other new strategies may appear. Take the time to be grateful for all that has gone on in the past year and take advantage of your reflection to make 2018 a great year for you. We stand ready to help you achieve your own happy retirement future!
[/av_textblock]

[/av_one_full]