A special Market Hug from Mike Arnow’s retirement office:
Dear Clients and Friends,
Is the Market Hug Back? Maybe once in a while, when there is something special to convey.
It’s fun to open your investment statements again. The S&P 500® and Dow Jones Industrial Average® closed out 2023 near record highs. A resilient economy and easing inflation concerns contributed to this good news. Interest rates increased so fixed income investments are looking good again.
But the reason for this Market Hug is on a more serious note. It’s about your personal safety and well-being, that is, the things we should do at the beginning of every year.
The most important suggestion is to check on your carbon monoxide detectors. Most all of them have a test feature so you can see if a new battery is needed, or replacement of the unit is called for. They don’t last forever, apparently only 5 to 7 years.
The importance of checking your carbon monoxide detector was the catalyst for this special Market Hug. Our own Angie Pingel recently lost a favored uncle and cousin who had succumbed to this preventable tragedy.
The brutally cold weather and blizzard like storms we have been experiencing can block furnace flue pipes causing carbon monoxide buildup.
While you’re at it, we suggest testing your smoke detectors. Also, do you have working fire extinguishers and do you know where they are?
Here’s a quick exercise for you: If you had to abandon your home in a hurry, what would you grab to take with you? In tornado and fire-prone areas, consider having a “Go Bag.”
Another recommendation, less urgent but also important: Using your cell phone, take a photo of the contents of your wallet, so if your wallet is lost or stolen, you’ll know everything needing follow-up.
That’s it for now. Please take care!
…and the rest of your team at Broadview Financial Management.
The views expressed represent an assessment at a specific point in time, are opinions only and should not be relied upon as investment advice regarding investments, strategies, sectors or markets in general.
The above commentary has been obtained from sources we believe are reliable, but we cannot guarantee their accuracy or completeness. Past performance is no guarantee of future results. This is not a complete analysis of every material fact. All expressions of opinion are subject to change without notice.
The information contained in this document does not constitute the rendering of legal, accounting, or other professional advice or opinions on specific facts or matters. Talk to your financial advisor before acting on information in this document.
Mike Arnow is the retired founder of Broadview Financial Management, LLC and has drafted this article as a featured guest author.