The Advisor, September 2022

What’s New at GPW

Fall not only brings much-needed relief from the heat, but also the start of school, football and Life Insurance Awareness Month. Many people only see life insurance as a means of providing for loved ones after their passing. There are so many other ways to leverage life insurance, though. Join us as we highlight how life insurance can fit into a comprehensive financial plan and help you achieve your financial goals.

GoalVest Portfolio Update

The S&P 500 is down 17% year to date and equities pulled back 4% last week after rallying off June lows. However, consumer sentiment remains relatively strong, employment rates are promising, and the Q2 earnings season finished better than expected. We do still see two main challenges facing equity markets, though: (1) inflation remains high at 8.5%, and (2) the Fed has a lot of work to do to bring that rate down closer to their target of 2%.
Economic growth remains uncertain after two consecutive quarters of negative GDP growth. We foresee at least some degree of slowdown due to the effects of inflation on real wages and higher interest rates on spending. Additionally, the Fed will likely raise interest rates by 50-75 basis points in September, with the final decision to be influenced by the August inflation print (released September 13th).
While the investing environment remains uncertain, we continue to maintain a balanced portfolio with a defensive tilt. We are focused on investments with steady cash flows and have portfolio hedges in place to weather volatility. To conclude, have confidence that we are monitoring the environment closely and, after almost every significant pullback, recoveries are much stronger.
Sevasti Balafas, CFA, CPWA®
CEO & Founder
GoalVest Advisory

Life Insurance Awareness Month

Happy Life Insurance Awareness Month! This month, we are discussing something we, as human beings, rarely want to address: our death. The key to remember is that life insurance is not always just for you, but also for those who are most important to you. It is for your family, kids, spouse, business partners, charities, or even your alma mater.
No one wants their loved ones to be burdened by a lack of liquidity, struggling to pay for their home, college, retirement, or estate taxes after their passing. Additionally, maybe your goal is to leverage your gifts to the next generation or to your community. Life insurance is one tool that can alleviate these concerns and help you leave a legacy.
On the other hand, life insurance can offer several living benefits. If designed properly, life insurance can be used as a tax-efficient, wealth-creation investment tool that provides asset protection and income benefits for the insured during their lifetime.
If you already have life insurance coverage in place, remember to periodically review it. All too often, people’s lives change while their life insurance coverage remains the same. Thus, it is crucial to review your policy at least annually to ensure that it is still addressing your current goals.
Developing the proper insurance and risk management strategy for your unique needs and goals is a key piece of your financial plan. Let us show you how life insurance can fit into your plan and help you through the easier-than-ever process of implementing it. Give our office a call to schedule a meeting to discuss your financial plan and insurance needs.