Dear Investor:
Bill(s)
On December 20th, 2019 the Secure Act was singed into law. On December 27th , 2022 the Secure Act 2.0, a bill long in the works and a mere 4200 pages long was signed into law. The most important item in the financial world (there were a multitude of areas addressed) as the second upping of RMD’s to age 73. Look for more information soon from us.
Rates
In December the FOMC (Federal Open Market Committee) led by Jerome Powell raised rates to over 4% after starting the year at zero. As mentioned in our Q1 2023 Newsletter article (Maybe a Tiger can change Stripes0, on a percentage basis this would be a possible once in a lifetime speedy move. This may also be a return to a normal interest rate policy (hopefully) with no intention of going to the zero boundary again. See Next point.
Bills
Not getting too wordie, but US citizens “bills” or the increase in them in the form of food, travel, energy, housing just to name a few are what is creating the opportunity of the afore mentioned speed of rates or rate increases. The CPI (Consumer Price Index) measurements continue to hold at much loftier levels than anyone thought possible (somewhat due to lagging indicators) and are allowing rates to rise and likely stay higher for longer. This is a good thing for our safe assets aka Fixed Income/Bonds thankfully as most of the headwinds are likely behind us, again see Q1 2023 Newsletter lead article and associate graphs.
Sunshine
Last year at this time we were reviewing items such as “Anatomy of a Slowdown” and “The R” Word – Recession.
Today, from our unique “Personal Reflections” portion of our Q1 2023 Newsletter :
“Future is better
Just as we pointed out over a year ago what a slowdown looks like and that it might occur, we are now ready to point out later on this year it’s very likely the clouds of higher interest rates and two feet on the economic brakes by Powell are likely to clear.”
This is also the time we attach our Private Policy Statement for the year, along with our opportunity to offer our latest ADV filings and Client Relationship Summary (Form CRS); Requests for review will be accepted via phone, mail or email, and mailed immediately upon request.
Happy Turn of the Calendar, and Best Wishes for the Start of a New Year!
Sincerely,
John A. Kvale CFA, CFP
Enclosure (2022 Report)
J.K. Financial, Inc.
PRIVACY POLICY NOTICE
Our Promise to You
As a client of J.K. Financial, Inc., you share both personal and financial information with us. Your privacy is important to us, and we are dedicated to safeguarding your personal and financial information.
Information Provided by Clients
In the normal course of doing business, we typically obtain the following non-public personal information about our clients:
- Personal information regarding our clients’ identity such as name, address and social security number;
- Information regarding securities transactions effected by us; and
- Client financial information such as net-worth, assets, income, bank account information and account balances.
How We Manage and Protect Your Personal Information
We do not sell information about current or former clients to third parties, nor is it our practice to disclose such information to third parties unless requested to do so by a client or client representative or, if necessary, in order to process a transaction, service an account or as permitted by law
In order to protect your personal information, we maintain physical, electronic and procedural safeguards to protect your personal information. Our Privacy Policy restricts the use of client information and requires that it be held in strict confidence.
Client Notifications
We are required by law to annually provide a notice describing our privacy policy. In addition, we will inform you promptly if there are changes to our policy.
Please do not hesitate to contact us with questions about this notice.
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May 2023 Audio Video Review – Buffet/Munger Words of Wisdom, Debt Ceiling, – Financial Planning and Capital Market Review – By John Kvale CFA, CFP
Hello and Welcome to our May 2023 Financial Planning and Capital Market Update!
If you are too busy to read, feel free to listen as we describe our post and thoughts in friendly podcast audio format as well as Video!
Newbies –
We like to articulate our thoughts and review on a Monthly basis our Financial Planning Tips, Capital Markets thoughts and current events!
Hope you enjoy!
May 2023 Video –
YouTube
Financial Planning Tip(s)
Berkshire Hathaway – Buffett Munger Words to Live By
In this post Charlie Munger and Warren Buffet are discussed in great details… along with a secret to speeding the time to listen (1.75x speed)…..
Main thoughts to live by from Charlie and Warren:
Early on, write your desired obituary – and then behave accordingly.
irrational and get lousy results.
thing for a long time is a huge advantage.
Particularly added this as just last week, saw a review of the meeting that completely missed several of these points in my opinion.
Capital Market Comments –
Debt Ceiling Fizzle- All done until after next elections
With several comments from the field, we spoke multiple times, here and here about the Debt Ceiling, the history and the most likely outcome…
Much of our confidence on the matter comes from our contacts that we have developed over the years that try to give us a 100% straight scoop as much as possible…. They could always be wrong, but being numbers folks, we go with the odds…
They were right, once again!
Have a Great Day, Talk to You at the End of June !
John A. Kvale CFA, CFP
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Posted in Audio, Economy, Education, General Financial Planning, Interest Rates, Investing/Financial Planning, Market Comments, Monthly Review, Podcast, Video
Tagged Charlie Munger, Debt Ceiling, John Kvale, Monthly Review, Warren Buffet