Perspectives from the Gamble Jones team

10 Admired Women in Wealth Management 2022!

We are so proud of our President, Alison Gamble! Alison has been featured by Aspioneer as one of 10 Admired Women in Wealth Management for 2022! Please click here to read the full article.

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Newsletter – Quarter 4, 2022

What a difference a year makes!  For much of the last decade, accommodative monetary policy fueled appreciation in almost every asset class.  Holders of stocks, bonds, and real estate saw their portfolios increase in value as central banks around the world, including our own Federal Reserve (“Fed”), kept interest rates low and engaged in Quantitative Easing (QE) to stimulate their economies.  While the goal of this policy was to boost the real economy, the byproduct of easy monetary policy was higher asset prices.  Central banks were emboldened to continue this policy through the Covid pandemic given the fear of deflation and persistently low inflation seen over the past decade.  In hindsight, this proved to be a costly error.  The combination of easy monetary policy, unprecedented fiscal stimulus, supply chains unable to support demand from a reopening economy, and geopolitical events that drove commodity prices higher proved to be the perfect storm that stoked inflation to levels not seen in decades. In response, the Fed and other central banks were forced to end the era of easy monetary policy by raising interest rates at an aggressive pace in an attempt to restore price stability.  

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Year-end Planning Opportunities

The holiday season is here and 2023 is approaching quickly. Now is the time to get a jump start on your year-end planning. Please review the following planning strategies and contact us with any questions.

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Newsletter – Quarter 3, 2022

The stock market’s third quarter performance reminds us of the opening lines of A Tale of Two Cities.  The first several weeks were “the best of times,” as stocks started the quarter on an up-note and appreciated meaningfully.  The catalyst was the Fed’s late-June meeting, after which investors seemed to think the toughest and most aggressive part of the Fed’s fight against inflation was over.  This optimistic sentiment gave way to “the worst of times” as investors turned pessimistic midway through the quarter.  Inflation readings continued to be elevated and Fed Governors seemed to back away from achieving an economic soft-landing. 

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Intra-family Gifting

When creating a gifting strategy for family, outright gifts may not be ideal if the recipients are minors or if you wish to limit or delay the beneficiary’s access to the gifted assets.  UTMA accounts, 529 Plans, and special trusts are just a few of the gifting vehicles available that allow donors to utilize the annual gift exclusion amount ($16,000/per donor in 2022).

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Annual Insurance Review

Insurance is a pillar of successful financial planning, so it is important to periodically review your various insurance policies and to modify them as your situation evolves. Below is an outline for reviewing your home, auto, and life insurance.  Please review the article Planning for Long-term Care for general information on long-term care insurance.  

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Newsletter – Quarter 2, 2022

Investors will likely look back at the 2010s as an ideal period for owning assets.  Valuations were low for many asset classes as we exited the Great Recession of 2008-2009, the economy was recovering – albeit  at a low growth rate, and inflation levels were low and very consistent.  To add to this ideal environment, the Federal Reserve (“Fed”) provided a tailwind to asset prices by keeping interest rates at or near zero while implementing quantitative easing (“QE”), a practice in which the Fed purchases treasuries and mortgage-backed securities.  Every time the Fed attempted to normalize monetary policy by raising rates and reducing QE, markets reacted negatively.  Fearing a deflationary spiral from the decline of asset prices in a highly indebted economy, these adverse market reactions were met swiftly with the Fed reverting back to easy monetary policy.  

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