First Some Announcements:
- Your Investment Partners with Paul and Garrett is officially launched. If you have a minute come join us for an in depth conversation about all things financial. We have covered what to do when the market is down and out unique planning process The CLIMB® Process. To listen: Click Here
- Recent Blog Posts include: Retirement Strategy: Planning Your Retirement Lifestyle, FHA vs Conventional Home Loans, Protecting Your Parents: Identifying and Preventing Elder Financial abuse in 2022, Thinking About Paying Off Your Child’s Student Loans? 5 Things to Consider, and more. To read visit: Click Here
- Recent YouTube Videos include: Dollar Cost Averaging, Five Ways to Find Financial Independence This Year, and Ideas to Prevent Cyber Crime, and more! To watch: Click Here.
- We will be having our annual review time in August through October of this year. We will be reaching out to schedule a time with you. If you would like to meet before that time, please call or reply to this email and let’s schedule a time. When you do come in for a review, please remember to bring last years taxes as well as any financial statements that may be helpful.
What to do during a downturn in the market
With the launch of our new podcast, we wanted to highlight a recent episode where we talked about what to do when the market is in a correction. We covered a range of ideas, but we wanted to highlight just three things you can do during the volatility.
- Go Bargain Hunting
- Add to Current Positions
- Do Nothing
Bargain Hunting can be a lot of fun during an otherwise stressful time. When markets trend down there is often sectors, areas, or companies that get sold regardless of good underlying fundamentals. We often talk about the “forced seller” where there is an individual or a company that needs to get out of their position regardless of cost, often due to taking on more debt or risk then necessary. When the baby gets thrown out with the bathwater, so to speak, there can be companies that trade at prices well under their market value.
Another idea we covered was simply to add additional long-term money to current positions. There is a reason we own what we own, because we think they will be great long-term companies, meaning, they will have the ability to grow overtime a little faster than inflation. Anytime we can buy quality at a discount, that’s a good thing in the long run.
A last idea is simply do nothing. As long as your goals or situation hasn’t changed then going about and living your life can be great. The work we do in the months and years previous is what prepares ourselves, our plans, and our portfolio in times of stress. Market selloffs are always a surprise but never surprising, we know every few years the market pulls back.
To listen to the full episode click here because we cover more ideas to help weather times of market stress. If you found this letter or podcast useful, please share with your family and friends. And if you are nervous, give us a call, let’s have a chat.
-Until next time,
Paul & Garrett
Garrett G. Smith
Ascend Investment Partners
Paul M. Norman, CFP®
Senior Financial Advisor
Ascend Investment Partners
214 South Main Street
Logan, UT 84321
175 Historic 25th Street
Ogden, UT 84401
Ascend Investment Partners is not a legal or tax advisor. You should consult with your attorney, accountant and/or estate planner before taking any action.
Ascend Investment Partners did not assist in the preparation of this report, and its accuracy and completeness are not guaranteed. The opinions expressed in this report are those of the author(s) and are not necessarily those of Ascend Investment Partners or its affiliates. The material has been prepared or is distributed solely for information purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy.
The commentary on this website reflects the personal opinions, viewpoints and analyses of the Ascend Investment Partners employees providing such comments, and should not be regarded as a description of advisory services provided by Kesler, Norman & Wride, LLC dba Ascend Investment Partners or performance returns of any Ascend Investment Partners Investments client. The views reflected in the commentary are subject to change at any time without notice. Nothing on this website constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Ascend Investment Partners manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.