Health Insurance, New 401(k) Service, & October Market Commentary

Health Insurance, New 401(k) Service, & October Market Commentary

Disclaimer:  These are the views of Summit Financial Consulting and should not be construed as investment advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. 


Health Insurance, New 401(k) Service, & October Market Commentary

It is everyone’s favorite time of year as it relates to healthcare: Open Enrollment! Whether you are working, self-employed, or on a Medicare Supplemental plan, this is the time of year when very important decisions need to be made.

As a reminder, we now have a full-service health insurance department. Anthony Landino works full time in our office and can assist with any health insurance questions you may have. If you are age 65 or older, we have been shocked by how many prescription drugs are no longer covered for 2018, and how many plans are changing benefits. Relax, let us simplify all health insurance for you. Give us a call today at (586) 226-2100 to discuss it at no cost.

Also, if you or anyone you know has a 401(k) plan, they most likely do not receive alerts from independent research on how to manage it. We now offer a service that provides detailed recommendations for 401(k)’s and other retirement plans, as well as alerts when changes need to be made to potentially avoid losses. The cost for this service is negotiable, and we do offer discounts for couples. It starts out at only $25 per month.

Lastly, we’re happy to say that our TD Ameritrade portfolios were up for both September and October because of our updated research process. Most of our portfolios have increased every single month since December of 2016, ever since we updated our research process. Our most important indicators are currently green, which means there is a higher probability than normal that the stock market may be healthy. November and December are normally positive months for the stock market because the holiday gift purchasing season typically increases corporate profits, but there have certainly been exceptions to watch out for. Overall, the economy seems to be heading in the right direction, despite all of the global unrest and political turmoil. Real GDP was up 3.0% in the third quarter and 3.1% in the second quarter, which is very nice to see (Source: https://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm ).

We’ll continue to review your TD Ameritrade managed portfolio holdings daily and make adjustments if we believe it is prudent. If you are a client and disagree with any of the moves inside your portfolio, if you would like to update us on your risk tolerance preferences, or if you have had a dramatic change to your income or financial situation, please contact us to discuss it.

Please feel free to forward this commentary to a friend, family member, or co-worker. If they would like to be added to our free commentary, please send us an e-mail at info@summitfc.net at your earliest convenience.


Interesting Points

E-commerce has created more jobs than it has displaced, adding 178,000 positions over the past two years compared with the 123,000 that have disappeared in brick-and-mortar stores. – WSJ.com, October 15, 2017

The S&P 500’s inflation-adjusted return, since the market top on March 24, 2000 to September of 2017, has only been 0.9% – MarketWatch, September 22, 2017

“The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffet

Crime has become so rare in Japan, with only one fatal shooting in 2015, that police often have nothing to do. – The Economist, May 18, 2017

Some 71% of Americans express regrets about their ability to manage money. The #1 regret- not planning early enough (48%), followed by spending too much on non-essentials (39%). – Marketwatch.com, October 18, 2017

A private room in a nursing home now costs more than $8,000 a month, or $97,455 a year. That’s an increase of 5.5% from just one year ago and a nearly 50% increase since 2004. – Forbes.com, September 26, 2017

Three-quarters of the world’s food today is derived from only 12 crops and just five animal species. – The Guardian, September 26, 2017

The number of people collecting unemployment benefits fell to the lowest level since 1973. – MarketWatch, October 12, 2017

Walmart told investors that by shortening the paper receipts given to customers, they saved the company $7 million – CNBC.com, October 10, 2017

 

Summit Financial Consulting LLC

43409 Schoenherr Road, Sterling Heights, MI 48313
Phone: 586-226-2100 Fax: 586-226-3584 E-mail: info@summitfc.net
Securities offered through Gradient Securities, LLC (Arden Hills, MN (866)991-1539) Member FINRA/SIPC
Summit Financial Consulting LLC is independent and is not an affiliate of Gradient Securities, LLC. Investment advisory
services offered through Summit Financial Consulting LLC, a Registered Investment Advisor in the State of Michigan.

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September 2017 – Data Breach & Market Commentary

September 2017 – Data Breach & Market Commentary

Disclaimer:  These are the views of Summit Financial Consulting and should not be construed as investment advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. 


Data Breach and Market Commentary

Last month we performed well in our TD Ameritrade portfolios, but first, let’s address the topic that is on top of everyone’s mind:  The Equifax data breach.  Over 143 million American consumers had their personal information stolen.  The information that was taken was unfortunately very comprehensive, such as names, social security numbers, birth dates, addresses, and in some instances, driver’s license numbers.  To find out if your information was exposed, visit www.equifaxsecurity2017.com and click on the “Potential Impact” tab.

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Attention Clients with Employer Retirement Plans

Attention Clients with Employer Retirement Plans

Disclaimer:  These are the views of Summit Financial Consulting and should not be construed as investment advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. 


Attention Clients with Employer Retirement Plans – 401(k)’s, 403(b)’s, etc..

Summit Financial Consulting is pleased to announce that starting this September we will be launching a new investment management service for clients with 401(k)’s, 403(b)’s and other employer retirement plans.

For years we have assisted clients in selecting their 401(k) investment options, however, we have not had a disciplined system in place to help assure investment allocations remain in line and up-to-date throughout the year and longer-term. We have also upgraded our research process and that has the potential to improve the recommendations. This is extremely important because we have found that keeping retirement plan investment options up-to-date can potentially increase returns in the long term.

By hiring additional staff and investing in new research and technology we are now able to dedicate the time and resources necessary to ensure our clients retirement plans remain invested appropriately and according to their risk tolerance on an ongoing basis. The nuts and bolts of the new service are as follows:

1. Summit will gather information about the available investment options within your qualified retirement plan.

2. After cross referencing independent research, a list of recommendations will be provided with the name and percentage for each holding, at least quarterly.

3. If we believe it is warranted, you may be contacted on any given day with an update.

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July 2017 – Market Commentary

July 2017 – Market Commentary

Disclaimer:  These are the views of Summit Financial Consulting and should not be construed as investment advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. 


Solid first Half of the Year, but is there a Tech Bubble?

Overall, the first half of the year was very solid for our portfolios, especially in the 2nd quarter. Up until last week, the Nasdaq was nearly doubling the performance year to date of the Dow Jones Industrial Average and the S&P 500 (Source: Ycharts.com). However, the Nasdaq lost about 2% last week while the other indexes held their own a bit better. Some investors are worried that the sky-high valuations of large technology firms are a tech bubble that is getting ready to burst at any moment.

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Contact Us

Phone: 586-226-2100
Fax: 586-226-3584
info@summitfc.net

Location

We are located at:
43409 Schoenherr Road
Sterling Heights, MI 48313
For more info, CLICK HERE

Summit Financial

Check the background of your financial professional on FINRA’s BrokerCheck

Securities services offered through Gradient Securities, LLC (Arden Hills, MN 866-991-1539).   Member FINRA/SIPC.  Investment advisory services are offered through Summit Financial Consulting, LLC, a MI registered investment advisor.  Gradient Securities, LLC and its representatives do not render tax, legal, or accounting advice.  Insurance products and services are offered through Summit Financial Consulting, LLC.  Summit Financial Consulting, LLC is not affiliated with Gradient Securities, LLC.

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