There’s been a lot of turbulence in the last few weeks in the markets. Many news headlines are contributing to this turbulence—the U.S. debt ceiling, supply chain shortages, global elections, the Chinese Evergrande crisis and COVID itself. With all of this, while September turned out to be the worst month for global equities since March 2020, this past quarter saw global equities down just over a percent from their June 30th close. Our investment policy considers market fluctuations, so we are prepared as the markets adjust and react to these events.
Meanwhile, I’m carefully watching what is happening in Washington with respect to the budget and spending. There’s a lot of press coverage and speculation on the proposed changes (and changes to the changes) and generally I prefer to wait to act on these proposals until they are passed unless there is an overwhelming reason to do so in advance. Expect to hear from me if the change in situation is set to impact the tax plan we have for you.
It’s Cyber-Security Month
As the space between our online and offline lives continues to blur, we hear more and more about the need to stay safe and secure online. With a continually fresh set of ‘game-changing’ data breaches and cyber-“concerns”, it won’t be long before we begin to rate cyber protection as financially important as your life or umbrella liability policies. Data show that precious few people take their online security seriously, and in honor of October being National Cyber-Security Awareness Month I’d like to make sure you’re not in that crowd so indulge me while I pass along a few recommendations.
Protect Your Device: Always make sure your devices are up to date on patches and updates. Take the three minutes to install and reboot now – it is a lot easier than trying to get your data back after a ransomware attack.
Password Manager: Using a different password on each website. There are several services that can help you create secure passwords and store them for you inexpensively and with excellent cyber-security protection. Some also allow you to appoint an individual to be granted access in the event you are incapacitated. Let me know if you want a recommendation.
Multi-Factor Authentication: The recent T-Mobile hack has exposed the danger of using confirmation codes sent via text message. Best practice is to use an authenticator app on your phone on sites where it is offered, which will randomly generate codes for you. These apps, such as Microsoft Authenticator and Google Authenticator, are free and easy to install. Likewise, because of these dangers, I make it a point to avoid texting with you, favoring more secure methods of communication.
Live Long and Prosper,
Dan Tobias, CFP®
Please note: The above is a copy of the 2021 Q3 Passport Wealth Management client newsletter attached to quarterly statements from October 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.