Josh Klinger is a Wealth Advisor at TVAMP. He believes that wealth isn’t a privilege. Individuals and families must make consistent, conscientious financial decisions and exercise patience. He is actively involved in the community and enjoys working out.
The thing you want to happen is probably not going to happen the way you want or think it should happen.
Read that sentence again.
So often we have this preconceived notion of how things are going to happen or are “supposed to happen.”
I hate to tell you this, but most likely those things aren’t going to happen in the manner you envisioned. That doesn’t mean they won’t happen. Rather, they will probably happen, just not how you imagined them to happen.
If you read my last blog, I optimistically hoped for an 8-win Tennessee football season.
That isn’t going to happen. However, what might happen is the team figures out how to better deal with adversity. Maybe, before they learn how to win, they’ll have to learn how to lose. Adversity causes some to break and others to break records. Let’s hope they are the latter.
For me, 2019 has been the ultimate practice in patience both professionally and personally.
It’s been challenging to say the least. Inherent in that search for patience is this notion that this or that should happen or already have happened, when in reality I am just fooling myself.
I urge everyone reading this to not only be patient with whatever goals you may have but to understand that sometimes the goal you want to obtain is down a different path that you never saw coming.
It’s still there, you might just have to look a little harder. Be flexible and stay positive. Don’t lose hope because your idea of what was supposed to happen didn’t. Keep doing the things that are within your control to pursue your goals. I believe, no matter the outcome, you will find a reward.
Quick Market Update
Read my very first sentence again.
If you turn on any major news provider, there will be endless opinions about politics, the upcoming election, trade wars, etc. Everyone has an opinion on what should happen. Here’s the reality, no one knows what will happen in the future, however, I will give you my thoughts on a few issues:
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I believe a trade agreement will be reached between the U.S. and China. On what exact date that happens, I haven’t the slightest clue. I think we will see S&P 500 go to all-time highs after a trade deal is reached.
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For the first time in seven months retail sales dropped in September. This coupled with the ongoing slowdown in manufacturing are concerning signals for the U.S. economy. Does that mean a recession is imminent? Probably not, however; it does raise concern.
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I don’t know who is going to win the Presidential election, nor how the market is going to respond to a Republican or Democrat in office. I do know the largest economy in the world will wake up the day after the election next November and continue. I also know people will return to work on November 4, 2020 and life will go on.
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Early 4th quarter earnings have been strong. This is a good sign for equities. The 4th quarter is typically a strong quarter for the stock market. With the Thanksgiving and Christmas holidays forthcoming, I’d expect consumer spending to increase. This in turn, should drive markets higher.
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On January 22, 2018 the S&P 500 closed at 2872. On October 2, 2019 it closed at 2887. That’s less than 1% difference over more than 20 months. Consolidation in the market is oftentimes a positive catalyst for the future. Be patient.
There are other countless items that could be discussed; however, the gist is we don’t know what’s going to happen and most likely what we think is going to happen, won’t.
What I do know, is myself and the team at TVAMP will do everything in our power to educate and serve our clients to the utmost of our ability.
Thanks for reading.
Josh
You can contact Josh by phone (865) 226-9982 or email [email protected]