Have You Seen The Movie The Perfect Storm? Show 39


Did you see the movie The Perfect Storm? I remember watching it in the movie theater. A crew on a ship are stuck far out in the ocean when two major storms come together to form a “perfect storm.” The look of horror on George Clooney’s and Mark Wahlberg’s faces told it all.
At one point in the movie huge waves are collapsing on the vessel from both sides. Seeing it on a big screen makes a scene like this come to life. It was like I was right there as the two storms collided. Did you realize that two areas of investor sentiment are colliding now? You may need to be aware of what’s going with savers.
I’ve had my share of close calls in the ocean and rivers. When I was about nineteen, I bought a kayak. My friend Jarrett and I decided to travel to the panhandle of Florida to kayak in the ocean and camp. We had some friends there and thought it would be an enjoyable adventure. Well, our plans were spoiled by incessant rain and wind. We must have been gluttons for punishment. Our camp site was like sleeping on a waterbed. Water flowed under our tent all night. It got so bad we had to end up getting a hotel.  But we were determined to take my new kayak out in the ocean (in the rain and dense fog). The swells were so large that I’d ride one up and disappear from Jarrett’s view, and then he’d ride a swell up. Talk about dangerous! My mom would have fainted if she’d known what I was getting into on that trip! Last year, when the coronavirus created pervasive uncertainty, the stock market got volatile. So volatile that trading was halted a few times.
It’s not uncommon for some people to get nervous and sell their investments during market corrections and go to cash.
I heard people comment that they were nervous about what President Trump would do, and they did not know how COVID-19 would impact markets. I understand their reticence. Now that Joe Biden is president, some people who were confident President Trump would guide us out of the Covid downturn are nervous that Biden’s policies will stifle economic growth and hurt industry. In my ten years in this business, I’ve never seen circumstances similar to the way they are now. There seems to be uncertainty around every aspect of life. Devastating storms and blistering cold have consumed much of the country recently. You may be asking yourself, “what’s next?”
I’m fortunate that I get to help people by lessening the impact of uncertainty around their finances. Being able to help people bring a level of certainty to their lives through financial planning is gratifying. I meet with people weekly who are distressed about their finances and whether they will be okay. Our ability to help clients create a greater sense of peace through positioning their assets in predicable financial vehicles can be reassuring to our clients.
The ten years before you’re retired and the ten years after you retire are critical. If you sustain major losses in your portfolio during these periods it may have lasting effects. Having a plan in place that helps to mitigate against major losses is key. I don’t claim to be able to tell the future, but if I were a betting person I’d wager that the stock market will continue to see volatility. While the swings up may be nice, the swings down can be rough. If you’d like to create a more predicable financial future for yourself, I’d love to speak with you. You can reply to this email or call our office at 864.641.7955.
Until next week,
David C. Treece,
Financial Advisor
Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program.

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