‘Tis the season for my kids to ask for candy and hot chocolate every single day, and it seems like our vague threats about Santa are starting to wear everyone out.

However, this also means we’re wrapping up another year and there’s been many big headlines in 2023, many of them specifically around investing both domestically and internationally. Do any of these sound familiar?

· The Fed increasing interest rates seemingly all the time to battle high inflation

· Three of the biggest bank failures in U.S. history

· Another debt ceiling crisis that came down to the wire

· AI and the ‘magnificent 7’ stocks that kept the U.S. large cap market positive all year

· Fitch downgraded U.S. credit

· Israeli war on terror after Hamas terrorist attack

Needless to say, it was a pretty volatile year. And we all endured a lot. To my clients, y’all did an awesome job this year reaching out when you were concerned and talking through worst and best case scenarios. I’m happy to report that in 2023 our portfolios and your financial plans have weathered the storms exactly as they were built to do. As always, I’m here to worry for you.

With that being said, 2024 is going to be a WILD ride. There will be a lot we can’t predict, but the one thing we do know for sure is that it’s an election year. The media will smell blood in the water and use 2024 as a year to make a ton of money off selling you the next doom and gloom event. Be ready for it. Don’t give in. I’m not predicting who’s going to be president. I’m not predicting who the nominee is going to be. I’m not a political analyst for a reason. But in this business I do know that the mainstream media wants your attention and the easiest way is to forecast doom. That doom will likely be in the form of financial doom and will be at the forefront of all the new outlets. It’s going to test your resolve just like it has in the past.

In the coming year, I plan to write a blog about elections with Republicans and Democrats in office. It’s always interesting to study this because we all have our biases on what we think should happen depending on who’s in office. All I can say now is, behave. If you’re a client of mine, you’re probably tired of hearing me talk about this, but continue to behave and save 20% of your income. If you can do this, you should be good to go.

You’re not going to hear panic from me, but I also don’t live in a bubble. I do see what is going on in the world and it’s my job to worry for you. Always reach out if I can help with anything or if you have questions or concerns going into 2024 and wrapping up this year.

Like I said, we’ll talk way more about elections next year, I can predict that.

Michael

Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 5280 CARROLL CANYON ROAD, SUITE 300, SAN DIEGO CA, 92121, 619-6846400. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. WESTPAC WEALTH PARTNERS LLC is not an affiliate or subsidiary of PAS or Guardian. Insurance products offered through WestPac Wealth Partners and Insurance Services, LLC, a DBA of WestPac Wealth Partners, LLC. CA Insurance License Number – 0L49687. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. | 2023-166056 Exp. 12/25