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3 Things 11-23

11/23/2020 This is the first installment of the Three Things newsletter from Mann Advisory Services LLC, a Registered Investment Adviser, independent insurance agent, and tax preparer. Although MAS is a financial services company, not everything published herein will be about numbers or investing. But no matter the topic, we hope for three things: 1) That you find the time you spend engaged worthwhile. 2) That you’ll reach out to us for help in any of our areas of expertise if something we discuss creates an urging in you to do so. 3) That you’ll share this with somebody new each time you read it. THING ONE TIME TO BEGIN (If you haven’t already) Now that it’s all over but the counting (the election that is), it’s time for us all to turn our focus inward. History and our own experiences both tell us that politicians, no matter the party, aren’t as interested in, or capable of, improving our lives as they would have us believe. The reality is that no matter who we voted for, we as individuals bear the responsibility for improving our circumstances. Life is short and it's hard at times, so those circumstances can seem daunting. And the cause of at least some of this apprehension is unfortunately confirmed by the people who compile and analyze data on the state of America’s retirement planning as they tell us life is actually longer than many of us are planning. Thankfully, they also tell us it can be much simpler than we make it, as it relates to financial well-being. Are you adequately prepared to retire? Do you have the proper insurance coverage on your life, property and, business? If the answer to either of those is no or I don’t know, we should talk. It’s time to stop procrastinating. THING TWO YES, THE RICH GET RICHER, BUT SO CAN THE NON-RICH From The Wall Street Journal, August 2020: “Stock ownership is increasingly concentrated among a sliver of the population. The top 10% of Americans, by wealth, owned 87% of all stock outstanding in the first quarter, according to data from the Federal Reserve. That share has grown over the past decade, from 82.4% in 2009. The stock market has surged over that period, with the S&P 500 more than quadrupling from its low during the financial crisis in March 2009.” To magnify the final point in the paragraph above, if you had invested $10,000 in the S&P 500 in March of 2009, it would be worth over $50,000 today, without including dividends! That means anybody who was invested in the S&P 500 (including via a 401k, or an IRA, or some other type of investment account), not just the "rich", got richer. But when the statement, 'the rich get richer' is made by someone, it is typically meant as either an introduction to, or a reminder of, the notion that it is unfair that there are "rich people" and that the initial unfairness leads to more unfairness. That’s divisive talk. Common sense rather than fairness dictates that if you aren’t investing, there won’t be any investment returns (additional riches) to be had by you. For fairness’ sake though, anybody who’s sincerely interested in accumulating wealth can do so, either on their own or with professional help. There’s nothing you can do about what you've missed out on in the last eleven years but you don't have to keep missing out. Thing Three Just A Thought “Wealth is the purchases you don’t make and happiness is the objects you don’t desire.” - Unknown MANN ADVISORY SERVICES, LLC. IS A REGISTERED INVESTMENT ADVISOR (RIA). INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND IS NOT INTENDED AS AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SECURITIES. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISOR AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY DISCUSSED HERE


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