2025 Q2 Client Newsletter

As we mark Independence Day, we honor the idea of freedom itself. For many of us, that includes the personal freedom to live intentionally, pursue dreams, and make choices that align with our values. At Passport Wealth Management, our purpose is to help you create financial independence—not just as a long-term goal, but as a way of life. Financial independence isn’t defined by a single dollar amount; it’s about having the confidence and flexibility to live life on your terms.

That mission has always been personal to me. Years ago, my wife and I set out on our 21-month journey around the world—a dream that became possible through thoughtful planning and disciplined saving. Upon returning from that trip, Jillian and I sat and outlined what we wanted the next phase of our lives to look like. That ‘picture’ included passing time abroad each summer with our future children. Nearly 15 years later, I’m writing to you from Spain, where my family and I are spending time on our annual “study abroad” adventure. It’s a tradition that reflects our values and reinforces what I believe so deeply: financial planning isn’t just about the future—it’s about making space for the experiences that matter, now.

I share this not to suggest that everyone’s dreams should look the same as mine, but to encourage you to define and pursue your dreams—whether that’s travel, time with family, launching a passion project, or something else entirely. That’s the heart of why we are here- to support you in living a life you love.

Thank you, as always, for your trust and partnership. Here’s to a meaningful Independence Day and a season filled with purpose, possibility, and peace of mind.

Market Snapshot: Summer 2025

While headlines continue to reflect a world in flux, markets—both in the U.S. and abroad—have shown resilience. This year has been a powerful reminder of the value of global diversification. While U.S. equities remain a core component of many portfolios, and have remained relatively stagnant this year, international markets have offered compelling opportunities, particularly in regions with more attractive valuations and different economic cycles. In 2025, that’s meant benefiting from strength in select European and emerging markets, even as domestic headlines remain unpredictable.

By spreading investments across the globe, we reduce reliance on any single economy or policy environment, and thereby reduce our risk. As always, our focus at PWM remains on long-term fundamentals and building portfolios that are resilient, diversified, and aligned with your future—not the latest news cycle.

Click here to access your quarterly statement.

Live Long and Prosper,

Dan Tobias, CFP®

Please note: The above is a copy of the 2025 Q1 Passport Wealth Management client newsletter attached to quarterly statements from July 2025. 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.