Helping people intentionally design their wealth in a way that shapes their most inspired life.
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Don Hershberger CFP®, AIF®, CRC®
Founder & President, PWM
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Recently the equity market has begun a period of correction, meaning it closed 10% below its previously recorded high closing.
As you know, corrections are a common occurrence. For many decades the average annual drawdown has been about 14% in the S&P 500. This current decline may end up equaling that average, it could be more, or it could be less.
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- UPCOMING DATES
- CONCERT - SAVE THE DATE
- CLIENT SPOTLIGHT
- RAYMOND JAMES CONFERENCE
- CAREGIVING PODCAST
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But to long-term, goal-focused investors like us, it should not matter.
Your portfolio was and remains the result of your financial plan, which we created based on your most cherished financial goals. That progression again is Goals – Plan – Portfolio. Current Events are not included in that progression, and for good reason.
In my experience, most successful long-term investors are continuously acting on a plan while the failed investors I’ve encountered were continually reacting to current events.
Keep in mind, those of you still in the accumulation phase of investing can accumulate shares at marked-down prices. And for those of you drawing on your investments in retirement, remember that the plan we created includes reserves equal to 2 years of living expenses. I’m not suggesting that we’re going to need to draw on these reserves; I’m inviting you to be comforted by the fact that we included them in our plan.
You would not be human, I don’t think, if you didn’t experience some degree of concern at the direction of current events from time to time. But I encourage you to stay the course, and as always, we are here if you need us.
Click Here to watch the video
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June 3 - Paramount Office closing at 1:00 pm
June 15 - 2nd quarter estimated tax payment is due for those required to pay quarterly taxes
June 20 - The exchange is closed in honor of Junteenth. Our office will be open.
June 30 - Deadline to submit the FAFSA form for college enrollment
July 4 - The exchange and our office will be closed in honor of Independence Day.
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Kick off your Labor Day weekend with a free concert exclusively for our clients and guests! "Joe The Show", all the way from Key West, will be performing on the Granary Patio at Ella Sharp Museum.
Light snacks and soda will be served. A cash bar will also be available.
More information coming soon. Save the Date and plan to come!
This is a great opportunity to bring family or friends that you want to introduce to our practice, or just come and enjoy the concert!
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Client Spotlight - John Drake |
“God speaks in the silence of the heart
and we listen”
Mother Theresa
This is the story of how one man listened to his heart, and because he did, it changed the lives of hundreds of children.
While employed at CMS Energy, John’s work frequently took him to The Philippines. He was struck by the dichotomy between the “five star” hotels where he stayed and the extreme poverty of the locals living in “squatter villages” with no running water or electricity. John tells of the “trash mountain” at the dump where children would
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burrow through the trash scrounging for anything valuable. He admitted that he tried to ignore all the children begging for money, knowing that if he gave them money they would just have to turn it over to their handlers. Instead, John frequently took kids to McDonalds and got them a meal and ice cream.
In 2002, CMS Energy sold their International plants and gave 16 computers to the local school system. The Mayor, knowing that John had an interest in helping the kids, invited John to go with her to deliver the computers. Along the way, she asked John if he would be willing to renovate and run a local orphanage. She took him to a converted pig slaughterhouse where 26 orphans lived. John describes the facility as, “disgusting”, noting that there was an open sewer right near the kitchen entrance. He also told of a water trough where they washed their clothes, brushed their teeth, washed the dishes, and then used the water for cooking; everything out of the same trough.
John spent a couple of hours at the orphanage, and as he puts it, “actually made eye contact with the children”. It made such an impact on him that he remembers their names to this day: “Ailene, Marjie, Marme, and Mark J.”. But…he didn’t want to build an orphanage, so he politely declined and went home, planning to never return to The Philippines again.
Over the next year however, John found himself unable to sleep, waking up crying because he remembered the plight of those children. “God speaks in the silence of the heart and we listen,” he quoted. Finally, John put together a business plan and returned to The Philippines with the intent of proving that it just couldn’t be done, but at least he could say he had tried. While there, however, all of the obstacles were overcome. John returned home and told his wife, “Judy, we are building an orphanage”.
The Lingap Center – “an oasis of hope and security” - had it’s grand opening in March of 2006. It provides a home for up to 100 children and includes a dining room, clinic, and playground. The children are provided school uniforms and are able to attend school every day. Thirty-two have gone on to graduate from college and 6 are currently enrolled in college programs.
In 2018 they built a new building with a library and computer lab that can also house an additional 32 children. Over 600 have called The Lingap Center home, many of whom are true orphans, and others that have been removed from their home due to abuse or exploitation.
The first few years, John worked at CMS Energy by day, and The Lingap Center by night. He retired in 2006 so that he could devote his time to running the orphanage. Today, there is a staff of 26, but John still runs the day to day operations, returning to The Philippines frequently.
If you would like more information, or would like to make a donation, click here to visit the Lingap Center’s website. The Lingap Center is a 501C3 and 100% of all donations go directly to the children. John suggested considering the Lingap Center if your looking for a charity to make a qualified charitable distribution.
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ELEVATE 2022 - It was great to be "in-person" for the Raymond James national conference after a couple of years of being virtual. It is always valuable to have conversations and share ideas with other professionals in the financial industry.
Raymond James shared trends they are seeing in the industry with cyber security threats. They also announced new technology and planning tools that are coming out soon and will be a great benefit for our clients.
We are grateful for the opportunity to spend a few days being able to focus on personal and professional growth!
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Pictured: Gretchen Maska, Candace Hackborn, and
Don Hershberger
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The Generosity and Sacrifice of Non-professional Caregivers Podcast |
Supporting an aging parent or less-independent loved one can be a mutually meaningful experience. Providing that care also comes with emotional, physical, and financial costs to consider. Amanda Stahl, director of longevity planning at Raymond James, discusses the growing population of caregivers and the resources available to help them.
You can find "For What It's Worth" on your favorite podcast app, or listen online at raymondjames.com/fwiw.
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The Paramount Wealth Management Team
Don Hershberger CFP®, AIF®, CRC®, Founder and President, PWM, was named on the 2022 Forbes Best-in-State Wealth Advisor list. |
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Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Paramount Wealth Management is not a registered broker/dealer and is independent of Raymond James Financial Services.
The Forbes ranking of Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years of experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Out of approximately 34,925 nominations, more than 6,550 advisors received the award. This ranking is not indicative of an advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please visit https://www.forbes.com/best-in-state-wealth-advisors for more info.
The information contained in this video does not purport to be a complete description of the securities, markets, or developments referred to in this material. Any opinions are those of the author and are not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. All opinions are as of this date and are subject to change without notice. All opinions are as of this date and are subject to change without notice. Holding stocks for the long-term does not ensure a profitable outcome. Investing involves risk and investors may incur a profit or a loss, regardless of strategy selected. Past performance may not be indicative of future results. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Prior to making an investment decision, please consult with your financial advisor about your individual situation.
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