July Commentary 2019: Importance of PlanningSubmitted by MidWestOne Investment Services on July 24th, 2019
I won’t bore you too long today. We survived last week’s heat wave and this feels a lot like golf weather now!
As the market has rebounded to all-time highs from the challenges of the fourth quarter 2018, the number one question I get from clients is how long can it last? The obvious and unfortunate answer is no one can know. But LPL Research put out a very timely piece that is a short and easy read, detailing why all-time highs might not be only scary news. And as a slight balance, I will offer Bob Doll’s latest weekly commentary. He doesn’t forecast doom and gloom, but certainly is cautious.
This is simply another reminder of the importance of planning. Our phones and emails get busier when the markets go down, but these market highs are actually a better time to review your plan. Are you comfortable with the current risk level? Have the markets helped raise your chances of success so you can take less risk and still achieve your goals? Set it and forget it can work early in your accumulation phase, but as you approach any transition point, understanding where you are on the map is essential to reaching your checkpoints and destinations.
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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.