Good afternoon,
A sad update to begin this week. Regular readers will recall that my sister has been battling ovarian cancer for nearly 3 years. Many of you have sent well wishes, thoughts, prayers and the like and often ask how she is doing. The answer is here, in her own words.
Dear Family and Friends,
This will be my last update.
https://jackieacho.com/im-done/
Love, Jackie
Jack, I’ve always joked that I’m glad I’m the older sibling, so I didn’t have to live up to any comparisons with you. The best jokes are born from truth. You’re smarter and tougher than anyone I know. You will be sorely missed, but your energy and your spirit will live on. To my brother-in-law John, my niece Sophie and my nephew Grant, don’t be surprised when Uncle Mike checks on you regularly.
As much as I’d prefer to stop the message here this week, the world keeps turning. But I’ll keep it brief.
“Panic led to lockdowns. Lockdowns led to fiscal stimulus. Stimulus led to inflation. Inflation led to monetary tightening. Tightening leads to recession. The panic wasn’t free and now the bill is coming due.” – Naval Ravikant. Exactly. TANSTAAFL – there ain’t no such thing as a free lunch.
Hurricane Ian ravaged across much of the south and southeast last week. Let that serve as a reminder to review your various P&C (property and casualty) insurance coverages. Full disclosure, P&C is not in my realm of competence so find yourself a professional to help. Might be a good time to review your other insurance coverages as well. Some of which I can help with.
As I write this early in the week, the markets are on track for the best 2 back-to-back days in over 2 years. Another example of why you can’t time the market. So don’t bother trying.
As we close in on the end of the year, start thinking about end of year stuff. Get your RMDs done. Rebalance your portfolios if necessary. Add to your strategy if you can. Harvest some losses for tax purposes. Call me for help.
This week’s crypto commentary, if I were to write one, which I’m not really supposed to do as cryptocurrencies are not a current offering by my firm, would be something along these lines.
I finished the book, “The Truth About Crypto,” and yes, crypto, or more broadly digital assets, are a thing. They are not going away. The blockchain technology underlying them is an even bigger deal. I will continue my digital due diligence.
This week’s chuckle is paused. Check back next week.
LF28 – “Only the good die young.” – Billy Joel.
Have a great week and stay healthy.
This material is for informational and educational purposes only. Opinions and forward-looking statements expressed are subject to change without notice. It includes links to third party sites not affiliated with Lincoln Financial Advisors. Lincoln Financial Advisors is not responsible for the content and does not guarantee the accuracy of any information or material contained therein. Lincoln Financial Advisors Corp. does not participate in the crypto marketplace or promote cryptocurrency as an investment strategy. The opinions expressed are those of Michael Acho and not necessarily those of Lincoln Financial Advisors Corp. CRN-4980307-100422
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Michael J. Acho, MBA, CFP®
Private Wealth Advisor
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