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23. Friday Footnotes
Bookends Financial Planning emphasizes the importance of estate planning, noting that it’s a critical topic in client meetings. They highlight that having legal documents expressing one’s wishes is crucial to avoid difficult decisions during a crisis or grief. In partnership with Trust & Will.com, they offer a 10% discount code for creating estate planning documents. Clients can choose a package, follow prompts, and have documents printed and mailed. Mobile notary services are available through T&W, or Indianapolis-area clients can schedule a signing appointment at the Bookends office. The email also provides contact information for the Bookends Financial Planning Team and disclaimers regarding investment advisory services
22. Friday Footnotes
Last week, the market experienced a brief pullback, with the S&P 500 declining 3.4%. Despite this volatility, fear indicators remained subdued, suggesting no significant systemic risk. After a robust rally, the market could benefit from a period of consolidation. Weakness is seen as an opportunity for selective accumulation. Cyclical and growth sectors, such as Technology, Industrials, Consumer Discretionary, and Communication Services, have led the market higher. This broad participation supports sustained strength. The long-term outlook for equities remains positive, supported by technicals and macro trends.
21. Friday Footnotes
Bookends Financial Planning announced their office closure on Monday, May 26th, for Memorial Day. The firm celebrated Jack Boston’s achievements in May, including his graduation from IU and passing the Series 65 exam, making him an official Financial Planner. The document also lists the Bookends Financial Planning Team with their respective roles and contact information. It includes disclaimers about investment advice, third-party websites and email communications.
20. Friday Footnotes
Bookends Financial Planning highlights the importance of a mid-year checkup focusing on asset titling, beneficiaries, and Trust funding. Key asset titling methods include Joint with Rights of Survivorship (JTWROS) for automatic transfer to co-owners, and Tenants in Common (TIC) where shares pass to heirs. Verifying beneficiaries for IRAs, Roth IRAs, employer retirement savings, and annuities is crucial. Consider adding Transfer on Death (TOD) for brokerage accounts and property deeds (in some states like Indiana) and Payment on Death (POD) for bank accounts, both avoiding probate. Funding a Trust after documentation involves updating titling on accounts and property, and beneficiaries on life insurance and qualified accounts as per attorney instructions.
19. Friday Footnotes
Bookends Financial Planning celebrated Jack Boston’s graduation from the Kelley School of Business at Indiana University with a Finance and Corporate Innovations degree. He will continue his career as a financial planner for Bookends and plans to take the Series 65 exam. The newsletter also included a Happy Mother’s Day message. Sarah Boston attended a workshop in Scottsdale, AZ, to begin an eight-month program for her Integrated Wealth Advisor designation, and also hiked Pinnacle Peak.
18. Friday Footnotes
Bookends Financial Planning rebalanced client portfolios, which may result in trade confirmations. This rebalancing was necessary after two consecutive years of positive equity market returns caused portfolios to shift out of their target allocations. No adjustments were made to the overall allocations; instead, holdings were changed to improve quality, decrease risk, and capitalize on buying opportunities. For fixed income, credit quality and yield were improved, and diversification was added to reduce volatility. The rebalance aims to position portfolios for future market conditions, be it further testing of lows, sideways movement, or a return to growth, with patience remaining key. The newsletter also provides an outlook on U.S. markets, the economy, and the Federal Reserve, predicting a rate cut in the second half of 2025 due to inflation and a slowing economy.
17. Friday Footnotes
Bookends Financial Planning’s “Friday Footnotes 17” discusses the welcome sunshine in Indiana as a respite from winter, encouraging clients to get outdoors, turn off the news, and enjoy activities like walking or watching sports. The author emphasizes that this is beneficial for the parasympathetic nervous system, promoting healing and “Vitamin D.” It concludes by wishing readers a beautiful weekend. The newsletter also mentions that tax season has ended and now is the time to plan for 2025, inviting clients to send their tax returns for analysis. It notes market fluctuations influenced by thin liquidity and positioning.
15. Friday Footnotes
Amid ongoing equity and fixed income market volatility, Bookends Financial Planning maintains a stance of patience. The firm expresses gratitude for clients’ check-ins, which provide perspective and joy. The author encourages readers to practice gratitude daily for mental well-being, suggesting it helps slow down and appreciate blessings. The newsletter also prompts clients to reflect on their emotions regarding finances and market uncertainty, aiming for clarity through introspection rather than just focusing on numbers.
16. Friday Footnotes
Bookends Financial Planning announced their office and the market would be closed for Good Friday. They also reminded clients that spring property taxes are due in May, providing links to look up and pay taxes online for several Indiana counties including Marion, Johnson, Hendricks, Hamilton, Shelby, Morgan, Hancock, and Boone. A key reminder is that no separate fall mailing will be sent for property taxes, so clients should set a calendar reminder. The newsletter briefly mentions Raymond James Investment Management’s Weekly Market Guide and Michael Gibbs’ commentary on market reactions to reciprocal tariffs.
14. Friday Footnotes
This “Friday Footnotes” compares the current economic crisis to the 2020 health crisis, highlighting recurring periods of peak uncertainty. The author reminds readers that “doing nothing” is often the best action during market volatility, emphasizing discipline and diversification over knee-jerk reactions. Bookends Financial Planning’s approach is “Actively Patient,” focusing on keeping financial plans and portfolios aligned with client goals, and being available for discussions. It also touches on changes in US Treasury debt refinancing.
13. Friday Footnotes
Bookends Financial Planning reiterates its positive long-term macro outlook despite short-term economic headwinds and policy uncertainty. They emphasize that “time in the market” is more crucial than “timing the market,” as historically, the best and worst S&P 500 days often occur together. They advise staying invested during volatility, focusing on quality assets and diversification, noting that economic expansions end from imbalances, not just uncertainty. Current caution is seen as a sign of health.
12. Friday Footnotes
This past week, Bookends Financial Planning’s Sarah Boston was traveling to see clients, resulting in a short newsletter. The newsletter reminded clients of the April 15th funding deadlines for 2024 contributions to Traditional IRAs, Roth IRAs, and HSAs. Contribution limits were listed, including age-based catch-up contributions for those 50 and older for IRAs, and 55 and older for HSAs. ACH transfers needed to be requested by April 14th for an April 15th deposit, and checks were accepted in the office until 3:45 pm on April 15th.
11. Friday Footnotes
With one month until tax filing, Bookends Financial Planning reminds clients to gather all Raymond James or Schwab documents, accessible online or via secure transfer through their office. The newsletter addresses four key investor questions amid market volatility. It notes that current market declines are due to elevated stock valuations with high profit expectations, and growing recession fears despite low unemployment. The firm advises understanding market conditions and reviewing financial plans.
10. Friday Footnotes
This “Friday Footnotes” strongly argues against market timing, despite tempting historical patterns. It explains that avoiding short-lived bear markets is impossible and costly. The document reveals that 78% of the stock market’s best days occur during bear markets or the initial two months of bull markets. Missing even 10 of the best days over 30 years can halve returns, while missing 30 days can reduce them by 83%. The firm implicitly advocates a long-term investment strategy over reactive trading, especially given hourly news changes.
9. Friday Footnotes
This “Friday Footnotes” strongly recommends thoroughly reviewing your tax return before submission. Key checks include W-2 withholding, inclusion of all tax documents (especially manually adding IRA/Roth IRA contributions post-12/31/24), and understanding deductions/credits, noting some TCJA changes are expiring. It emphasizes the importance of a “second set of eyes” and understanding marginal/effective tax rates. Essential income lines (6a, 6b, 9, 11, 12, 15) are highlighted, along with the impact of the increased standard deduction and its sunset.
8. Friday Footnotes
This “Friday Footnotes” warns of heightened hacking and fraud risks during tax season. It advises updating passwords for all financial and shopping accounts, enabling dual-factor authentication, and considering biometric logins. For compromised information, freezing credit with Experian, TransUnion, and Equifax (free option) is recommended, with temporary unfreezing for credit applications. The newsletter also introduces “Tanner’s 72-Hour Rule,” suggesting a 72-hour wait before reacting to Washington news, as most immediate concerns prove fleeting.
7. Friday Footnotes
This “Friday Footnotes” analyzes President Trump’s new tariffs, set for April 2nd, and their impact on inflation and consumer costs. While January’s CPI was high, details suggest it’s less alarming. Despite seasonal weakness, broad consumer spending remains robust amid inflation, creating an anomalous cycle. The firm sees this interplay as crucial for recovery or downturn, maintaining a long-term perspective. They monitor daily but see no immediate need for portfolio changes. Trump’s reciprocal tariff plan, aiming to equalize rates with trading partners, is also explained.
6. Friday Footnotes
This issue reflects on the current environment, noting that “The more things change, the more they stay the same” and emphasizing the importance of being “Actively Patient”. You will read about the US Treasury’s actions, including refinancing debt at higher rates. It presents a report indicating that Tariff Rates are worse than originally expected, including charts visualizing these rates.
5. Friday Footnotes
This “Friday Footnotes (on Monday!)” discusses the market upheaval caused by new Trump Administration tariffs on Canada, China, and Mexico, announced over the weekend. The tariffs, unexpected by many who saw them as negotiation tools, led to lower global stocks, higher dollar and oil prices. Economists warn of inflation and stunted growth from a potential trade war. President Trump acknowledged consumer pain, deeming it “worth the price.” Investors sought safety in Treasurys, dropping yields. Economists anticipate recession for neighboring countries and a drag on U.S. growth.
4. Friday Footnotes
This summary details President Trump’s initial executive orders from January 20, 2025, and their economic implications. Actions include withdrawing from the Paris Climate Agreement and declaring an “energy emergency,” benefiting traditional energy while hurting clean energy. Immigration actions may cause labor shortages. Federal workforce reforms aim for efficiency but could disrupt. A broad deregulatory agenda seeks to cut business costs. While tariffs weren’t immediately imposed, his intent suggests future market shifts.
3. Friday Footnotes
In this issue, you will find information related to the ongoing tax season, including tips on how to access forms and contact the office for assistance. A significant portion addresses Four Questions concerning recent market volatility, discussing its causes, potential recovery scenarios, and factors that could lead to further market declines. It also mentions an […]
2. Friday Footnotes
This issue contains a discussion about the concept that Timing the Market is Impossible. It explains that a significant portion of market moves happen on just a few good or bad days. You will read about market reactions to news events, questions regarding Social Security, and the importance of regularly reviewing your financial plan.
1. Friday Footnotes
In this issue, you will read about Planning for 2024 Taxes, including the upcoming April 15th deadline for filing or requesting an extension. It provides important tax dates and presents a table detailing the 2025 Marginal Tax Brackets for different filing statuses. You will also find information about the tax exclusion for gifts, noting that the first $19,000 of gifts in 2024 are excluded.
