1 | Week In Review
Market watches saw some dramatic volatility throughout the week across most indices. What factors are causing the volatility, and what does it mean? Annex Wealth Management’s Mark Beck and Todd Voit discuss.
2 | Poll Recap
How Much Money Does A Household Need To Work With A Financial Advisor?
A recent survey called the Consumer Financial Behavior Study found that a household with $1.2 million in assets reported higher levels of happiness when working with a financial advisor compared to those who didn’t have an advisor.
In our latest poll, we asked readers: How much money does a household need to work with a financial advisor?
The majority of respondents answered, $0 – $249,999.
That’s another example of the sophistication of the typical Axiom reader. While the general population might see a need as your assets cross the $1 Million mark, there’s an excellent chance your need will be present long before then. In fact, an advisor might help you get to the mythic million-dollar goal.
In many cases, the complexity of your plan increases as your wealth does – but that shouldn’t preclude consulting an adviser to understand where you are and how you should approach your current situation.
If you’re interested in understanding how Annex can help, visit with us for a Wealthmetric today.
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3 | Client Exclusive
Amidst an Olympics like no other, we can still be proud of our athletes.
The 2022 Winter Olympics start this week.
The 2022 Olympics will take place in Beijing, China and will become the first city to ever host both the Summer and Winter Olympics – the 2008 Summer Olympics were also held in Beijing. From February 4 thru 20, there will be a total of 109 events in 15 disciplines across seven sports: biathlon, bobsleigh, curling, ice hockey, luge, skating, and skiing.[1]
The first event to kick off the Olympic schedule will be mixed doubles curling on February 4. Surprisingly, curling competition is scheduled to take place every day of the Games, which is one day longer than even the Ice Hockey tournament.[2] Who knew?! Now we do!
Due to current regulations in the host country, spectator access will be extremely limited, so just as in the Summer Olympics that were postponed until 2021, we can expect to see very few crowds in the stands to watch these incredible competitions as well as the opening and closing ceremonies, which always prove to be a show unto themselves.
The Olympic flame for the Beijing Games has already been lit and is waiting for February 4 to make its entrance onto the Olympic grounds. The flame was successfully lit in a ceremony in Olympia, Greece back on October 18, 2021.
The Olympic flame is something that, no matter where or when the Games take place, is always at the forefront of the ceremonies and long-standing tradition that surrounds the Games. According to Greek mythology, the originators of Olympic competition, the god Prometheus stole fire from Zeus, who then gave the gift of fire to humanity to spur on the growth of civilization. The tradition of lighting the flame for each Games only came to be a crucial tradition of the games in 1928, but has continued, with the addition of a torch relay, to this day. The torch relay also is symbolic of the Olympics as a journey from the past to present, being carried from Greece to the current location of the Games every two years.[3]
Along the route of the torch relay, backup flames are carried as well, in case the official torch is extinguished for any reason – you just never know what you might run into on the long journey!
The backup flames are also lit by the fire in Greece, so that the flame that makes it to the Games is always the official flame from Greece, even if the main torch had to be relit at any time. The Olympic Flame itself does not burn continuously in Greece like some believe – it’s relit a few months before each new Games. The care and thorough planning to ensure the tradition of the flame is upheld creates a uniting symbol for all who participate, and watch, as the world comes together for athletic competition.[4]
The flame remains lit during the course of the Games before being ceremoniously extinguished to signify the end of competition. In 1976, the flame at the Summer Olympics in Montreal was accidentally extinguished by a rainstorm – the only time the flame has ever unintentionally stopped burning. Organizers quickly relit the flame with a cigarette lighter only to then extinguish it and relit it with a backup flame from the official fire in Greece.[5] Whoops! We’re sure they learned a crucial lesson that year.
According to the official Olympic site, there are 2,877 athletes entered in this year’s games, representing 91 different countries.[6] Athletes have had to make sacrifices to compete this year, but their hard work and dedication to their sport and their countries will shine through as they are able to compete in events they love.
With the time difference, live coverage will mostly be viewable in the overnight hours for the U.S. though you can also view live streaming coverage and highlights on the Olympic website. In a world that is divided, the Olympics help to bring us all together, even just for this short time, to remind us that in the midst of everything, traditions carried on from our past can still tie us today.
Go Team U.S.A.!
Have an idea you’d like us to write about, or a story to share? Send us an email at clientinterest@annexwealth.com.
[1] https://www.cnn.com/2021/05/26/world/2022-beijing-winter-olympics-fast-facts/index.html
[2] https://olympics.com/en/beijing-2022/schedule/
[3] https://inews.co.uk/sport/olympics/olympic-flame-what-meaning-history-origins-games-symbol-ever-goes-out-explained-1114590
[4] https://inews.co.uk/sport/olympics/olympic-flame-what-meaning-history-origins-games-symbol-ever-goes-out-explained-1114590
[5] https://inews.co.uk/sport/olympics/olympic-flame-what-meaning-history-origins-games-symbol-ever-goes-out-explained-1114590
[6] https://olympics.com/beijing-2022/olympic-games/en/results/all-sports/athletes.htm
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4 | Did You Know?
Where Are My Tax Documents?
Your custodian will gather all the required data from all fund companies and create your 1099 statements. A 1099 statement is generated if you have one of the following: sales proceeds in a non-qualified account, or a distribution from a qualified account (IRA).
These statements are generated throughout January and February, and the custodian (TD Ameritrade, Schwab or Fidelity) mails the statements to our clients at that time. You can also view your 1099 statements once they are available if you have online access at TD Ameritrade, Schwab or Fidelity. Most clients report receiving their 1099 statements in late February.
If you have any questions please contact your Wealth Manager or Client Service Manager.
Thank you! Annex Wealth Management
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5 | Ask Annex
Ask Us A Question!
6 | Financial Fact
Today, there are more than 6700 types of cryptocurrencies publicly traded.
coindoo.com/seven-interesting-facts-about-cryptocurrency
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7 | Annex Radio
Top Stories: GDP, Olympic Ad Silence, & $6.5M Superbowl Ads
Top Stories: The Ford Maverick & GM’s EV Investment
The Psychology of Spending In Retirement
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Events & Webinars
Annex Wealth Management has always been committed to
client growth and education. Planning and saving can be demanding. We’ve found that when our clients master key concepts, it often enhances working together to reach their goals. Because these are not sales presentations, our clients benefit from a truly informative experience.
WEBINAR | Annex University: Medicare Basics
Thursday, February 10, 2022
3:00 PM – 4:00 PM CST | 4:00 PM – 5:00 PM EST
Medicare enrollment is a milestone for each of our clients.
We understand the complexity and anxiety that can go with making a selection, and Annex Wealth Management is here to help.
We will help you:
- Understand your healthcare needs as you reach Medicare age
- Approach Medicare enrollment with confidence
- Navigate Medicare’s complicated rules and deadlines
R E G I S T E R →
WEBINAR | Annex University: Estate Planning Basics
Wednesday, February 16, 2022
4:00 PM – 5:00 PM CST | 5:00 PM – 6:00 PM EST
Because we know how complex Estate Planning can be, we are inviting you to a workshop on some general Estate Planning concepts.
We will discuss:
- The various documents that are key elements of every estate plan
- Reasons you should do estate planning
- Lifetime planning and asset distribution planning at death
- Should I avoid probate and if so, how
- How do beneficiary designations and asset titling impact an estate plan
- Who should I name as fiduciaries
- How to communicate with family about your estate plan.
R E G I S T E R →
Annex’s Women & Wealth Retreat: Sedona, AZ
Monday, April 25th to Friday, April 29th, 2022
R E G I S T E R →
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