Carey Wealth Management

This information went out our clients at 11:00am today. The Coronavirus continues to cause major disruptions in our daily lives and in our economy. We have been working hard on getting real facts and making decisions based on the facts. We have received input from various sources including people that live in China and front-line doctors. All have different viewpoints and different information....Continue reading

The markets and economy have been a wild ride for the past 12 months. With all the negative talk about the trade war, recession and politics, the investments are producing a very strong year. The facts are the job market is still one of the best in the last 50 years and most consumers are in a positive financial position. One thing that is very clear, you can’t worry about things that happen on the short term. Long term planning, long term strategies give the best resul...ts. We have some investments and strategies that we put in place approximately 10 years ago and those investments and strategies are paying off day. (Long term) On the short term, we must always think about risk management. Short term, a million things can happen that cause short term pain. We are always preparing for the unexpected unknowns. Managing risks for unknowns is very complex. Overall long-term planning and strategies with short term risk management puts our clients in the best possible position whatever happens next. Bring it on! Remember, we plan, we manage, we care about your future

We like to share this story again during this time of year. THE MAYONNAISE JAR AND 2 CUPS OF COFFEE When things in your life seem almost too much to handle & 24 hours in a day is not enough, remember the mayonnaise jar & 2 cups of coffee. ... A professor stood before his philosophy class and had some items in front of him. When the class began, wordlessly, he picked up a very large and empty mayonnaise jar and proceeded to fill it with golf balls. He then asked the students if the jar was full. They agreed that it was. The professor then picked up a box of pebbles and poured them into the jar. He shook the jar lightly. The pebbles rolled into the open areas between the golf balls. He then asked the students again if the jar was full. They agreed it was. The professor next picked up a box of sand and poured it into the jar. Of course, the sand filled up everything else. He asked once more if the jar was full. The students responded with a unanimous "yes." The professor then produced two cups of coffee from under the table and poured the entire contents into the jar, effectively filling the empty space between the sand. The students laughed. "Now," said the professor, as the laughter subsided, "I want you to recognize that this jar represents your life. The golf balls are the important things - God, family, children, health, friends, and favorite passions - things that if everything else was lost and only they remained, your life would still be full. The pebbles are the other things that matter like your job, house, and car. The sand is everything else - the small stuff. If you put the sand into the jar first," he continued, "there is no room for the pebbles or the golf balls. The same goes for life. If you spend all your time and energy on the small stuff, you will never have room for the things that are important to you." So . . . Pay attention to the things that are critical to your happiness. Play With your children or grandchildren. Take time to get medical checkups. Take your partner out to dinner. Play another 18. There will always be time to clean the house and fix the disposal. "Take care of the golf balls first - the things that really matter. Set your priorities. The rest is just sand." One of the students raised her hand and inquired as to what the coffee represented. The professor smiled. "I'm glad you asked. It just goes to show you that no matter how full your life may seem, there's always room for a couple of cups of coffee with a friend."

Spring is in the air so don’t let the markets and daily news drive you crazy! After a 14 month period of below normal volatility, the past 2 months have had higher than normal volatility. Depending on the day, the markets can be surging ahead by 2 or 3 percent or dropping by 2 or 3 percent. It makes planning for large withdrawals even more important. The last two months remind us of the importance of risk management, focusing on the long term and not letting the daily head...lines change our long term plan and long term goals. April 17th is coming. Your tax return is due Tuesday, April 17, 2018 unless you are filing an extension. I personally have filed an extension many times and there is nothing wrong or negative with filling an extension. On the subject of taxes, going back almost 29 years ago when I started working for a CPA firm, I have always heard people talk about their taxes in the context of they were happy if they received a refund and they were unhappy if had to write a check when they filed their taxes. I understand how people feel however getting a refund or writing a check is not a good measurement of your tax picture. Refunds or writing a check is all about withholding and total tax due. It doesn’t really help you understand for every dollar of income are your taxes going up, staying the same or going down. One of the best measurements of your tax picture is the effective tax rate. It is helpful to understand your effective tax rate for each year and to be able to compare to prior years. To calculate your effective tax rate, divide total tax (line 63 on the 1040 form) by taxable income (line 43 on the 1040 form). Please let us know if you need any help calculating your effective tax rate. Enjoy spring and remember, We plan, We manage, We care about your future.

In February we finally has some volatility in the equity markets and it was long overdue. We are very proud of our clients last month! We didn’t receive any panic calls, (the sky is falling, the sky is falling) Remember going forward the equity markets will always be very volatile on the short term. The only way to have your money work hard for you is to focus on the long term, keep diversified and never, ever sell an asset when the market has devalued it on the short term.... A few things to think about: 1) Every day there are people that are betting against the equity (stock) market and bond market. They are trying to make money from a decrease. 2) Every day there are people and groups that have taken out loans to buy equities (stocks) and bonds. If the market moves down a lot on the short term these people or groups are forced to sell their investments. We never want to sell when they are forced to sell. 3) Every day there are computer programs that are designed to buy and sell investments based on price movements. At times when the equity and bond markets have a larger price movement these computer programs can kick in and sell investments. We don’t have any automatic program trading! 4) Every day the news media is more likely to report news from a negative perspective than a positive perspective. In regards to the equity and bond markets we continue to see the negative perspective being reported. The type of reporting can cause people and groups to overreact and sell great investments. We don’t want let the media’s negativity or lack of knowledge affect our success. Remember drama sells for the media. 5) Everyday We plan, We manage, We Care About Your Future. See more