2021 Q2 Client Newsletter

The Things We Take With Us

Throughout human history immense change and innovation follow periods of turmoil and strife.  For example, the Second World War triggered incredible economic expansion, and the bubonic plague itself begot the Renaissance and Age of Enlightenment.  Unquestionably we are living through a period of turmoil ourselves, so my question is as we look ahead – how will each of us change, innovate, and grow?  In the last few months, as restrictions have decreased and the vaccine has given people hope, I’ve noticed renewed eagerness from clients, colleagues, and friends to make big life decisions that have otherwise been put off. Welcoming children (and grandchildren), moving, RV’ing, changing careers, starting businesses, launching a major home renovation, a new dedication to philanthropy… in short, we’re already experiencing this period of change.  What have you started or stopped doing over the last 15 months that you hope to make part of your life as we emerge from the pandemic? I’m here to talk if you want to discuss big life changes or new routines.

But What About Inflation

All that ‘immense change and innovation’ points to inflationary pressures as well.  We see it all over, from the grocery store to the lumber yard.  This is OK and to be expected.  We can cut the data a variety of different ways and see that it is reasonable to expect continued economic exuberance for the next year or so before coming back to ‘normal’ levels.  Yes, inflation is up but not radically so.  It is up in ways that match this unique period and there is every reason to believe it will gradually drift to levels more akin to recent years.  Even if it does remain elevated when compared to the last 20 years or so, it still wouldn’t be considered ‘high’ by historical comparison.

Changes at my529

Those clients holding 529 Educational Savings Plans with my529 received notification several weeks ago regarding a handful of changes to the manner in which 529s within the my529 program are managed.  I have reviewed these changes in depth and communicated with my529 about several specific aspects of the change and believe these to be very positive steps forward overall.  Although no action is required, I will be reviewing all 529 plans following the transition to confirm that no action is warranted and will make small adjustments if it is appropriate to do so.  If you have any questions regarding the change please don’t hesitate to reach out.

Live Long and Prosper,

Dan Tobias, CFP®

Please note: The above is a copy of the 2021 Q2 Passport Wealth Management client newsletter attached to quarterly statements from July 2021. 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.