By Published On: July 8, 2019

Of Markets and Mountains

Thirteen years ago, less than a year into our marriage, Jillian and I attempted to hike the entire Presidential Traverse in New Hampshire.  The critical part on that hike is the summit of Mount Washington, known to host the world’s worst weather.  We started off on a beautiful day, hiked up the ‘long way’ to make the summit on day two.  When we woke up at our campsite on that second day, and hiked above tree-line, it wasn’t long before turned back due to the gale force winds and 20 feet of visibility.  Because we were prepared, we weathered the storm and made it back down the mountain safely- disappointed- but no worse for the wear.

Looking at the markets this past quarter, amid renewed threats of trade wars and an array of geopolitical challenges, I find it’s ironic that just next week Jillian and I will again be attempting to complete The Presidential Traverse.  This time all 21.7 miles and 8,800 feet in elevation…in a single day.

When it comes to financial planning, we cannot always predict where and when the bad weather will arise, but we can plan and prepare for it, understanding what our options are and different paths we may take.  We know there will be more good days than bad and although we don’t leave intentionally leave our future to chance, we understand that chance can happen.  This July we know the mountain range is still there, as is the chance for risky weather, but once again our planning and preparation will be there too.

In the life of Passport Wealth Management

Two big items to report.  The first is the firm’s move to a new office on the shores of Lake Norman in Cornelius, NC.  This gives us a great view of the lake, but also space to grow. On that note, I’m pleased to announce the addition of Katie Beamer as a Client Service Associate to Passport Wealth Management.  Katie, welcome aboard!

And Some Reading

Many people find themselves looking a good summer’s read so I was interested to read the Washington Post’s list of “The Best Books to Read at Every Age, from 1 to 100”.[1]  As I went through the list I found myself at first amused, then bemused and finally offended.  Apparently all 30 somethings have few interests other than parenting and mid-life crises and 50 somethings are similarly concerned with their mortality.  There were some interesting picks for sure, worth a perusal if nothing else.

Live Long and Prosper,

Daniel Tobias, CFP®

Please note: The above is a copy of the 2019 Q2 Passport Wealth Management client newsletter attached to quarterly statements from July 2019. The newsletter is published to the website for informational purposes only and is not financial or investment advice. You should consult a CERTIFIED FINANCIAL PLANNER™ Professional for financial advice. Past performance may not be indicative of future results. Indexes are not available for direct investment. Investing involves risks, including the potential for loss of principal. There is no guarantee that markets will act as they have in the past or that any investment plan or strategy will be successful.


About the Author: Dan Tobias

Daniel Tobias of Passport Wealth Management Fee-Only Financial Planner in Cornelius, NC
Daniel Tobias is a CERTIFIED FINANCIAL PLANNER Professional and a Fee-Only Advisor. He owns Passport Wealth Management, a financial advising firm based in Cornelius, NC that works with clients across the globe. He helps individuals plan for retirement, manage investment portfolios, mitigate taxes, and secure their financial futures. With more than 10 years in the industry, Daniel has spoken nationally on financial planning practice management and has served on the National Association Personal Financial Advisors (NAPFA) South Regional Board. He resides with his family near Lake Norman in North Carolina where he enjoys mountain biking, hiking and travel.

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