This Has Been a Test: Developing a Financial Plan You Can Stick With

Think back to December 2019. The economy was humming. Unemployment, interest rates, and infation were at historically low levels. But then what happened?

• A global pandemic hit. By the end of March, the S&P 500 had dropped nearly 20% in value.

• Later in the year, scientists announced that they’d developed a vaccine, and markets roared back. FAANG stocks soared … before giving up a lot of gains.

• Meme stocks shot way up … and fell back down.

• Bitcoin and other cryptocurrencies reached record highs … and then crashed.

• Inflation spiked to the highest levels most of us have ever experienced.

• And Russia invaded Ukraine, sparking a humanitarian crisis and geopolitical uncertainty.

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  Robert J. Pyle, CFP®, CFA, AEP® founded Diversified Asset Management, Inc., in 1996 to provide personalized, comprehensive wealth management services to successful individuals, families, single women, and business owners. His specialty is addressing the complex financial needs of self-employed professionals, corporate executives, and small-business owners. Our disclosure can be found here. The views, opinion, information, and content provided here are solely those of the respective authors, and may not represent the views or opinions of Diversified Asset Management, Inc. Diversified Asset Management, Inc. cannot guarantee the accuracy or currency of any such third party information or content, and does not undertake to verify or update such information or content. Any such information or other content should not be construed as investment, legal, accounting, or tax advice.