Copy

Wehner’s Wisdom
Summer 2015

View this email in your browser

This quarter’s successful client, Jim Bunin

My time with Jim goes back to 1981, one of the first years my dad, an accountant, wasn’t around to help with getting my refund for the year. It was the year I graduated from college. I met Jim through an adviser at an old line wire house, AG Edwards. Jim has made more smart choices around money than just about anybody I know! He has done all of the following things that create success - here’s a rundown - He got a great education - developed some great professional skills doing work he loved as an accountant at a young age and continued with professional development. He achieved the advanced designation of CPA many years ago and embraced the work ethic, choosing the path of the self-employed. Married right, found the partner of his dreams around 25 years ago. They communicate and make financial decisions together and have similar mindsets. They also share a passion for travel, and have been able to do tons of it! Their retirement plans include a lot more of it as well. The value of great partnerships and the leverage of two vs one can’t be overstated! Jim and his wife, Marcia, spend less than they make (people with money always do this - it’s a given) Jim has chosen to maximize his tax opportunities in retirement plans from day one, and never misses a tax year of contributions! They spend money wisely, and look for good quality on sale. The biggest example was their house - it was a foreclosure bought many years ago. When investing money, they look for opportunities. Jim and Marcia also bought three condominiums in Florida from 2012 - 2014.  Protect their assets - Jim has always had a strong belief in protecting what he’s worked for and got solid top quality life insurance way before we met and has kept it to this day. We can now all send major congratulations to Jim, as he is retiring – in fact 2015 was his last tax season! Thanks Jim for all the years of hard work, dedication, and being such a great example.

Are you worried about the market???

It’s a given that the stock market will go up and it will go down, and actually, that movement up and down is the reason for the potential for making more money in the stock market than in the bank. As an investor, you are being compensated for taking risk - the willingness to allow the value of your account to fluctuate. I’ve read some interesting statistics lately that got me really thinking about the worry that comes with market decline. Historically, more than half the time since they have been keeping track, the market has fallen by 10% or more during the course of each year. Bear markets, defined as a drop of 20 or more occur less frequently, but still occur more often than we realize. So, where are we in the cycle??? It’s anyone’s guess. The question then becomes what do we do not if but when the market takes it’s normal decline? The answer is to prepare ahead, not after. The first key to being prepared is to own a broadly diversified portfolio that contains bonds, and investments that usually move opposite to the stock market, called alternatives. The second key to being prepared is to have an idea of how much of a decline you can tolerate in your total portfolio. This can be based on a number of things - your personal feelings or emotion, the time before you will be withdrawing. It’s always important to keep money you’ll need to be using in the next year or so in the bank or a money market with ready access. I’d love to discuss your personal situation!
 
Thanks to the hard workers for this years event.
Thanks to everyone who made the annual Wehner and Associates Party a total success! Kevin Hall did a beautiful job with the Rat Pack theme this year. Frank was in full form. Lisa Berscheid and family created a matching Italian Cuisine that was mouth watering, Marianne Cooper did an orange cake that didn’t stay on the platter for more than a short time. Of course Matthew made his famous slushy drinks, and even the weather held out. We had 60 people this year, and look forward to more next year. We’ll try to spread it out so it’s not as close to graduations! For those that came, it was a thrill for me to see you. Those that couldn’t come, we missed you and hope you can come next year!

Events & Notes
Don’t forget that the quarterly statements are available to you by email if you like. If you’d like to have less paper, please let me know and I’ll make sure to sign you up for e-delivery.

Consumer tip:  Designing an emergency back up plan

One of the biggest causes of financial problems is not having the cash on hand to pay for unexpected expenses. Medical bills are one of the biggest, along with unemployment, and a whole host of other things. Cars, pets, appliances, and just about everything you can think of eventually wears out and needs to be replaced. It may work to go by the old rule you’ve heard 100 times 3 - 6 months of cash as a back up. While that may work for many, in my opinion, it doesn’t go far enough. Breaking down the potential bills, such as the deductible on your health insurance, gives you a really clear picture as to the worst case scenario so you can truly plan ahead. If you’re ever interested in putting this together, I can help! Come see me.
 

The Photo's

The photo's in this newsletter were taken by
 Matthew Berscheid & John Zimmer

  
"The Baths in Virgin Gorda"
Photo taken by
John Zimmer
LinkedIn
LinkedIn
Website
Website
Share
Tweet
Forward
Copyright © 2015 Wehner and Associates, All rights reserved.