May 2014 Newsletter If you can identify with a May 1st deadline, you are likely dealing with a rising college student. For those who are not aware, May 1st is the date by which decisions must be made to accept the “college of their choice.” As we approach Memorial Day weekend, most families are deep in the throes of final exams, final concerts, graduations and the associated parties to celebrate the accomplishments of their graduates. This is indeed a time for celebration. However, if you look a bit deeper, it is also likely a time of angst as parents worry they haven’t accomplished everything necessary before their child leaves for college. There are the obvious things, like packing and paying the tuition when it comes due. There are also some essentials you may not have thought about, which need to be discussed before your child leaves the nest. Not only will it help make your life easier in the long-term, but it can go a long way toward clearly setting expectations and laying a good foundation for your young adult’s Read on! →
Grieving Clients, Sensitive Advisors – an article in ThinkAdvisor highlights how Cheryl’s Stephen Ministry Training has prepared her to work with people in crisis. Cheryl Sherrard, director of financial planning for Clearview Wealth Management in Charlotte, N.C., trained with the faith-based Stephen Ministry to teach her how to help people in crisis. Today, Sherrard listens much more attentively to clients in grief and she pays special attention to non-verbal cues. In the past, she would fill silence with her own talking. She no longer does that. “You get those who are very stoic and just want to work through the details and don’t want to show emotion. You get those who are a wreck and can’t function,” says Sherrard. “For me, it’s about being comfortable no matter what the reaction is and to know when not to push.” Click here to read the article.
What to Do in Case of Financial Emergency Sooner or later, you’re bound to get hit with an unexpected and eye-popping cost. Maybe a hospital stay will slam you with thousands of dollars in out-of-pocket charges, expensive car repairs will take you for a ride or Uncle Sam will send you a hefty tax bill. Ideally, you’ve stashed at least six months’ worth of living expenses in a savings account to help in situations like these (or in case a job loss stunts your income for a while). But especially for young people who haven’t had much time to save, sometimes the cash isn’t there. If you have yet to build up an emergency fund, consider these options to help cover any big, unexpected costs. Click to read the article.
The Wall Street Journal reported this week the small-cap Russell 2000 closed below its 200-day moving average on Tuesday for the first time since November 2012, snapping a streak of 363 trading days above the closely watched technical indicator. That marked the index’s third longest streak dating back to its inception in 1978. While history is not always an accurate predictor of the future, it can sometimes serve as a reference point, particularly when it comes to market cycles. This technical indicator (the 200-day moving average) is often used as a benchmark to gauge a market’s long-term trend. When a stock or index trades above the 200-day, it is in an uptrend. But when it falls below, it is in a downtrend that could lead to more declines. The Russell 2000 dropped 1.6% Tuesday to 1108. It is down 7.1% from the record high hit in March and down almost 5% year-to-date. As the Wall Street Journal reports, “about half of the Russell’s components are down 20% or more from their respective 52-high weeks. Some 80% of them are down Read on! →