Weekly Market Review
Michael Acho
Guardian of the Wealth of the Most Productive People on Earth | Creating, Protecting and Distributing Wealth for Clients
Good afternoon,
?Did you know that September is life insurance awareness month? Yes, its thing and now you know. https://www.limra.com/en/newsroom/liam/
Let’s get started on an exciting life insurance discussion. Or let’s not.?I won’t take up your valuable time droning on about how important life insurance can be. But it is. You don’t need to know the details because that’s why you have me. If you’d like an insurance needs analysis, schedule a few minutes with me (use my calendar link below) and let’s determine if you have what you need. If you already have coverage, let’s review the policy and make sure it’s still viable and appropriate. It’s tough enough emotionally to lose a loved one but losing them economically can be devastating as well.
?Good news, bad news.
The bad news is that U.S. life expectancy has dropped for the past two years. Which is unusual. Life expectancy has been increasing for decades.
The good news is that if we’re not living as long, we won’t need as much money. I’m a half full kind of guy. #mathwins.
?There are teams of actuaries who compile and analyze this data. An actuary is like a CPA, but without the personality.?Do you know the difference between an actuary and a Mafia actuary? An actuary can tell you how many people are going to die and when. A Mafia actuary can also tell you who.
?Speaking of bad news, well-respected long-time investor and money manager Jeremy Grantham says we’re in a “super bubble.”
And he’s not referring to this one from Kurt Bevacqua’s 1976 Topps baseball card.
?Mr. Grantham is referring to 1929, 1972 and 2000, which he deems super bubbles, and they were bad. It took many years to recover from each. He’s saying that he sees the same signs now. He thinks that stocks, bonds, and real estate are all substantially overvalued and that their prices can fall further. He suggests the upturn we’ve seen since June of this year is only a bear market rally and it too will falter. Next will come an economic downturn.?Don’t know if he’s right or wrong, but he makes a case that doesn’t sound good.
?This notice was on the back of envelope from the social security administration. Neither the SSA nor the IRS will call your cell phone and request money or personal information. If you get a call like that, hang up. Ditto for the call about your car warranty expiring soon. Watch out for scams.
?Let’s be a little more positive and look at some habits that millionaires have in common. Perhaps some things we could adopt.
It ain’t rocket surgery, save, invest, live below your means. And there you go.
?On the heels of that article, I followed up by personally asking 7 billionaires “What is the secret to your success?” And they all said the same thing, “how did you get into my mansion?”
?This week’s crypto commentary, if I were to write one, which I’m not really supposed to do as cryptocurrencies are not a current offering by my firm, would be something along these lines.
?I’m about halfway through this book.?It is probably more than the average person needs or wants to know about crypto, but I’m interested, and I’ll comment when I’m finished. Once again, I’m doing the work, so you don’t have to.
?Please welcome my niece Sophie to the WMR subscriber family. She asked last week to be added and so it is done. Soph will be doing a semester in Spain starting in a few weeks, which is cool. She’s going to be there for 3 months, I told her I’d like to come visit. “Uncle Mike, you’ve never visited me at my college in Ohio, but you want to come to Spain?” Soph, I’ve been to Ohio, it’s overrated. Spain on the other hand…
?If you know anyone else who’d like to be added to the WMR distribution, please send me their email address. No obligation and they can opt out at any time.
?Quick movie review, I watched Sylvester Stallone’s new movie Samaritan the other day. Don’t bother, it’s not very good. I just saved you 2 hours, you’re welcome. Speaking of Stallone, my college daughter has a film studies class this semester. I suggested that she mention to her professor that I think something about Sly should be on the agenda. The guy did invent Rocky and Rambo after all, two of the most famous characters in movie history.?My guess is that he won’t be mentioned, that’s a missed opportunity.
?This week’s chuckle is comedian Jeff Foxworthy with 5 minutes on his facts of life, https://www.youtube.com/watch?v=hRP4IhEkhBQ
?LF28 – “We don’t meet people by accident. They are meant to cross our path for a reason.”
?Have a great week and stay healthy.
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This material is for informational and educational purposes only. Opinions and forward-looking statements expressed are subject to change without notice. It includes links to third party sites not affiliated with Lincoln Financial Advisors. Lincoln Financial Advisors is not responsible for the content and does not guarantee the accuracy of any information or material contained therein. Lincoln Financial Advisors Corp. does not participate in the crypto marketplace or promote cryptocurrency as an investment strategy. The opinions expressed are those of Michael Acho and not necessarily those of Lincoln Financial Advisors Corp. CRN-4938545-090722
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Want to get on my calendar? Click here, https://calendly.com/michael-acho
Michael J. Acho, MBA, CFP?
Private Wealth Advisor
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Lincoln Financial Advisors/Sagemark Consulting
1000 Town Center, 26th Floor
Southfield, MI?48075
248-948-5100 direct
248-948-5101 fax
248-933-4339 cell
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