1 Year Ago:

we learned a pandemic was spreading across the world. In the midst of the massive changes, both in the markets and culturally, Annex Wealth Management’s President & CEO had some thoughtful advice that proved effective.

‘Stick with your plan’: Annex Wealth Management’s Dave Spano advises to stay the course in COVID-19 related market volatility

Calm amidst challenging times is often a key component of successful people, families, businesses and nations.

Annex Wealth Management President and CEO Dave Spano suggests mainly the same kind of approach with your investments through the current struggles of the stock and other investment market.

“Since 1900, the stock market has had 32 bear markets. Every time, it has come back..no matter what the financial crisis, there will be another side. We are going to get through this, and the stock market will be 33-0 at some point,” said Spano on WTMJ’s Steve Scaffidi Show.

“If you are investing for the long term, if you have a financial plan and you continue to invest, you will be rewarded down the road.”

He says that some type of investments may be different than others in terms of possible tweaking to do with your investment portfolio, but a focus should be upon keeping balance within your long term plan.

“In 401k plans, it’s a little more difficult to move around as if an IRA or individual account, but for sure, rebalancing,” said Spano.

“You shouldn’t get outside your risk tolerance. If you have a plan, stick with your plan.”

He also suggested possibly re-financing homes as an option, too.

“How can you not with these low rates?” he asked.

“Rates are so low. With the debt in this country…the debt was $22 trillion, and it’s going to go up substantially with all the stimulus bills…interest rates are likely to stay low for a long time.”

But his final point was one on a much larger-scale: Keeping health as first priority.

“Let’s get through the public health issue. The market will react to it.”

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Meet The Axiom®’s Guest Editor: Ken Symes

Hi, my name is Ken Symes and I’m Annex’s Mequon office Branch Director.

I live in Port Washington with my fantastic wife Cathy and our two awesome kids Ainslie and William. For fun we keep busy with sports like the upcoming softball and baseball season for the kids. This winter the kids learned to ski which was a blast to watch. When we aren’t busy with those things we spend as much time as possible at our cabin in Michigan’s beautiful Keweenaw peninsula.

I love working at Annex because I have the privilege of working with clients, at all stages of life, to help develop a plan customized to their goals.

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Stimulus Liquidity Drives Markets Higher – Are We Entering An Inflationary Period?

While some observers are uncertain why markets are rallying, others see the vast amount of liquidity from stimulus driving markets higher. Some analysts are revising future estimates higher – which may be beckoning an inflationary period we haven’t seen in 40 years. Annex Wealth Management’s Dave Spano and Derek Felske discuss.

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Did You Play More Golf Than Last Year? 

When states started reopening last summer, golf courses, golf equipment, and overall interest in the sport grew. Recent polls show a spike in playing golf during the pandemic, and there have been over 50 million incremental rounds of golf played since June 2020, according to the National Golf Foundation. Equipment sales are also the best in years, with a surge of sales happening throughout July and August of 2020. 

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Even as an employee every week I look forward to receiving Annex’s Axiom. What I like best is it isn’t just a recap of what the markets did the previous week, anyone can look that up online. Instead the articles are informative, and the polls make the Axiom interactive which I enjoy. Hope you enjoy this week’s Axiom!

– Guest Editor: Ken Symes | Branch Director, Mequon Office

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Create A Simple Guide To Help You Be A Better Executor Or Trustee

Few people have extensive experience settling the final affairs for a loved one. If you’re ever asked to take on the role of trustee or executor, it’s often involving the loss of a parent or spouse, which can be especially traumatic. Post-trauma is often a bad time to be wondering exactly what needs to happen or how to get things in order.

This week’s Money Do is for those who have been appointed a trustee or executor: Create a ‘save for later’ simple guide to help you better navigate those trying times.

1. Know What’s First

It’s important to remember to rely on others for guidance and help during the process, rather than trying to go it alone. Start by notifying friends and family to coordinate funeral arrangements.

2. Understand Timing

Dealing with the financial matters immediately after a loved one passes is not as critical as many people think, as very little can be done until a death certificate is issued.

3. Gather Documents & Information

Once things have calmed after the funeral and you receive death certificates, start by gathering all the estate planning documents that exist and locating or creating an inventory of the individual’s assets and liabilities that includes joint owners and beneficiary information.

4. Contact Key Financial Institutions

You can also start contacting the various financial institutions, but they may not provide you with much information initially. Don’t be frustrated by this as there may be additional legal formalities required to allow them to release information to you.

5. Don’t Be Afraid To Seek Legal Help When Necessary

As you review asset and account information, you may find that you may be required to execute transactions or give direction to various financial institutions. If so, you may want to engage an attorney to help with proper documentation for the trust or initiate a probate proceeding.

This is often the step people skip to keep expenses down; however, engaging an attorney will likely accelerate the process and make things go much more smoothly. Too often we see people try to go it alone that creates much more of a mess that an attorney or accountant will need to undo or retrace all the prior steps to bring things across the finish line.

6. Keep Accurate Records

There will be various tax returns required during the process, so keeping accurate records is important. Prior to making distributions to beneficiaries, it’s important to determine the extent of any liabilities, taxes, and additional administration expenses that must be paid first.

7. Collect Yourself; Then Communicate

While all these items are important from a process standpoint, the most critical element is to have frequent communication with all beneficiaries throughout the process to keep them informed as to status and timing along the way.

8. Practice Patience

The process of settling an individual’s final affairs will take anywhere from 6-18 months to complete depending on wealth, complexity and family dynamics. Remember to be patient and not to rush into any decisions that you may regret later.

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This week’s Ask Annex comes from Tom, who asks:

“What are the possible negative effects of rising Treasury Yields on stocks? What is the March triple witching?”

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We asked Annex Wealth Management’s Todd Voit, PhD, and Dave Spano, CFP® for their insight: 

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Does You Advisor Prepare You For Changes To Your Permanent Residence Or Domicile? 

There are a myriad of financial and nonfinancial considerations in picking a domicile. If you are considering a change of domicile or have concerns about planning where your primary residence might be, our team is ready to help you.

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KNOW THE DIFFERENCE MINUTE:

Will Americans Add ANOTHER Streaming Service?

KNOW THE DIFFERENCE MINUTE:

Big Movies, Small Screens

WHAT’S THAT?

What’s ERISA?

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Annex Wealth Management provides free workshops, open to the public, on key wealth management topics.

Each week, we provide links to register for upcoming events.

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Annex Wealth Management
12700 W. Bluemound Rd.
Suite 200
Elm Grove, WI 53122

Call: (262) 786-6363
Fax: (262) 792-8930

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