This month’s newsletter offers some perspective on the markets, the election, long-term care planning, and most importantly Thanksgiving: A time we come together as Americans, Family, and Voters. We wish all of you the very best this November 2020.

November 2020 Monthly Market Update

In October, global stock markets started out strong, gaining 5% through October 12, but then fell 7% over the remainder of the month. Larger-cap U.S. stocks fell 2.7% in the full month (Vanguard 500 Index), while developed international stocks dropped 3.5% (Vanguard FTSE Developed Markets ETF). Emerging-market (EM) stocks were positive in October with a gain of 1.3% (Vanguard FTSE Emerging Markets ETF). Markets were particularly jittery during the last week of October. The S&P 500 fell 5.6% in the final week. The main culprits for the heightened volatility likely included (1) surging COVID-19 cases in the United States and Europe, (2) uncertainty around the election, and (3) Congress’s inability to pass additional fiscal support for the economy in the short term.

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This Is Life

As I write to you this month,  I reflect on how fortunate we are to live in this country. As many of you know, I am very proud of being an immigrant who became a citizen. I was born and raised overseas in Singapore and lived there until I turned 15 years of age. One of my closest friends came back to the US to go to boarding school in 1974, and our conversation during that Christmas winter break led to me apply to boarding schools on the west coast. By September of 1975, I was proudly going to a small school in Ojai, California. At the time the decision to move did not seem eventful or impactful, but here we are 45 years later, I became a citizen in 1987 and feel privileged to be an American. As frustrating as this election has been in terms of its negativity, it has pointed out to all of us how fortunate we are to live in a country that continues, evolves, and survives the process. Record numbers of people voted this year, which is a miracle in itself. Our forefathers began something in 1776 with an idea and a commitment to individual freedom, and it is healthy and thriving today.

Thanksgiving is a few weeks away, and a time when we reflect on our blessings and not our shortcomings. We gather with family and friends and celebrate those brave pioneers who began our journey at Plymouth Rock in 1620. It is a time to reflect and gain perspective on who we are as people, and a time to recognize the beauty of voting, and collectively coming together and agreeing on who our leader(s) will be for the future. We are the envy of the world in how we debate, discuss, and let our process work. The election is not over…. it will be a few weeks before we have an “official” outcome. Some state votes will be contested in the courts, but rest assured a process will be followed, and we will inaugurate our elected leader(s) in January.

Perspective and appreciation are gifts as human beings we can choose to use or ignore. I have faith we will all appreciate how fortunate we are to live here. Peace of mind and faith in an electoral process that has worked for hundreds of years.

As we celebrate and come together this month, GFP wishes you and yours the very best! Thank you for placing faith in our firm and our team of professionals. We continue to be your biggest fans and advocates.

Many thanks to each and every one of our clients, friends, and family.

Long-Term Care Awareness Month

November is Long-Term Care Awareness Month. We thought this would be a great opportunity to discuss this important topic. What is long-term care planning? When is the ideal time to plan? Where do you start? A good long-term care plan helps you address the financial and non-financial elements of needing care. If you have ever dealt with someone who needed care, you know it can impact someone financially but it also can have an emotional and stressful impact on the entire family.

The ideal time to start planning is usually in your 50s. Yes, you heard that right! The same way you shouldn't wait until your 60s to plan your retirement, you shouldn't wait until your 70s or 80s to start your long-term care planning. By starting the planning process early, you give yourself the benefit of time and with that time comes more options on how you address a long-term care need.

Where do you start? We think it starts with a simple conversation. We have a list of questions for you to review with your spouse and/or loved ones. These questions will help kickstart the planning process and will help you gain insight into what is important. Please contact us if you would like the list of questions.

We are here to help and offer objective advice. If you would like to discuss any of these topics or any questions relating to financial planning and/or our view of the markets, please click below and pick a time on our calendar. Click here to view our calendar.