Last month was a choppy one as stocks sold off sharply at the beginning of the month amidst increasing concerns of a weaker labor market, slowing economic growth, and the potential unwinding of the yen carry trade.  This pullback didn’t last long as we got some better economic data, and an update from the Fed, as the S&P 500 rallied to close the month about 2% higher. (YCharts)

We felt that the pullback was likely indicative of normal market volatility, and not the sign of an imminent recession.  During times such as these it’s important to avoid making decisions based on emotion.  One of the ways we seek to make volatility manageable is by making sure your asset allocation is in line with your goals, time horizon, and risk tolerance. 

The rally toward the end of the month was capped off by Fed Chair Powell’s speech at the Fed’s Jackson Hole symposium.  Below, we’ve highlighted three observations from that meeting:

We started the second half of the year with a little market volatility as investors digested a number of significant headlines in July.  The S&P 500 rallied strongly in the first half of the month before pulling back, but still closed about 1% higher for the month, and is now up almost 16% for the year. (YCharts)

We believe that the volatility we’re seeing in markets is a normal, and healthy, characteristic of a bull market and aren’t making any major changes to portfolios at this time given our base case that the economy avoids a meaningful recession, corporate earnings remain resilient, and stocks move moderately higher.  Of course, our active approach means that as economic data evolves, we’ll be ready to make adjustments to our portfolio positioning.

This month we’re going to highlight three data points that reinforce our outlook that an imminent recession is unlikely.

Each year, the Trustees of the Social Security and Medicare trust funds provide detailed reports to Congress that track the programs' current financial condition and projected financial outlook.

Many near-retirees view their upcoming retirement as a time to kick back, relax, and make memories with loved ones. But for some, retirement may offer the opportunity to work for yourself instead of working for someone else.

It is not just a routine task, but a strategic necessity to align with your goals.

As we reach the halfway mark of the year, it's a prime opportunity to assess your financial planning goals and review your investment portfolio. This mid-year check-in is essential for ensuring that you stay on track to meet your financial objectives.

Many dream of working toward early retirement, but getting there generally doesn’t happen by accident. Retiring early requires financial independence that can last for decades, but that is much easier said than done. To get there requires taking steps and staying focused. Consider these seven ideas to help you prepare for an early retirement:

1. Start Early

Another positive month of returns for stocks in June brought the first half of the year to a close with the S&P 500 up roughly 3.5% for the month and a very strong 14.5% year to date. (YCharts)

Throughout the year we’ve had portfolios positioned for growth and continue to believe that we’ll likely see stocks move higher over the next 9-12 months.  Of course, if our outlook changes, we’ll be ready to make adjustments.

Given that we’re at the half way point of the year we’re going to review the key areas we highlighted in our annual outlook, and what we’re watching from each of these for the back half of the year.

Individuals and their families often seek to make positive societal and world change through philanthropic efforts. Philanthropy is one way families clarify their values and use their wealth to work together across generations to build their family's legacy for the greater good.

The "Sandwich Generation" is composed of adults who are ‘sandwiched’ between competing financial responsibilities. Many Sandwich Gen members support their aging parents while also providing for their children (or even grandchildren) and planning for retirement.

Nearly one in four Americans over the age of 65 has a disability.¹ And when it comes to planning for retirement, taking your disability into account is vital. Disabilities may impact many things, from your healthcare options to your retirement income and estate planning needs. Here are a few key points folks with disabilities might want to consider when planning for retirement.