IN THE KNOW
Monthly Newsletter
October 2022
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This month's newsletter discusses how to transition into your desired retirement lifestyle, the meaning and impact of being a fiduciary, and a look at the investment trends of this decade so far. We also welcome our new Advisor Associate, Liss Chapman, to the ML&R Wealth Management team! As always we have plenty of featured events you and your family can attend this month and this holiday season. Keep scrolling to learn more!
We are a firm that understands that managing your assets is about more than money. It is about empowering your future. At ML&R Wealth Management, we focus on you.
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Transitioning into a retirement lifestyle can seem like a daunting and seismic shift for many. It’s not a decision that should be made lightly, and as a financial planner, I feel that it is truly an honor and privilege to help guide many clients to and through this next chapter of life. I’ve also had the recent opportunity to guide someone very special to me- my own mom! She is retiring this December after 30 years with her employer.
Whether it’s for my clients here in Austin or for my own mother, I’ve been able to assemble some helpful tips and resources for someone thinking about what their retirement lifestyle will look like. Hopefully these are helpful for you or perhaps your own loved ones charting their own course in retirement.
Have a Conversation First
If you are approaching retirement, it’s important to have a frank conversation about what you want out of your retirement with your spouse, partner, and close family members. There’s no right answer to a thriving retirement lifestyle, but it’s crucial to make sure you’re on the same page with your significant other so that you can enjoy your retirement to the fullest.
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In our last post, we reviewed what a fiduciary is, fiduciary duties and the impacts of being a fiduciary. With this post, we will review best practices for individuals and businesses acting in a fiduciary capacity with respect to their company sponsored retirement plan.
Recommended best practices for those working on or sponsoring retirement plans:
- Establish a committee to make decisions about the plan. It is recommended that the committee have an odd number of members and be diverse. Consider members from your human resources department, finance department, owners of the business or board of directors’ members, and perhaps legal if you have in house counsel. The committee should be responsible for both administrative oversight and investment oversight. Larger firms may consider having two committees – one for each.
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ML&R Investment Corner ~ A Tale of Two Drawdowns
Investors have experienced a dramatic start to the decade with two stock market drawdowns of more than 20%. Here, we use two charts to illustrate how in the worst of markets, investors who maintain discipline can quickly capture the best of markets.
We all remember the decade’s first drawdown in 2020. While this was an uncomfortable time for many investors, those who maintained discipline were rewarded. During the drawdown, I doubt that few of us felt the S&P 500 would mount a stunning recovery and end the year in positive territory, as shown below.
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Employee Spotlight ~ Let's Talk to the Team |
In this year's Employee Spotlight we will be asking fun questions to the entire team and sharing their answers in this section! |
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Introducing New Advisor Associate Liss Chapman |
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Liss Chapman
Advisor Associate
Birthday: May 21st
Where is your hometown: Seattle, Washington
Do you have pets? If so, what kind(s)/name(s)? I have a 5-year-old English Mastiff named Capone who is currently 200 pounds.
What's your favorite food? I love Italian food and sushi!
What's your favorite TV show? How I met your mother and Yellowstone!
What's your favorite indoor/outdoor activity? I love hiking and fishing. I am also a huge advocate of working out and body competitions.
What's your hobbies? Going to the gym, hiking, playing piano, and karaoke.
What's the most adventurous thing you've done? Hiked into Big Bend and camped with a 45+ pound pack in 2 days.
What's your favorite sports team? Seattle Seahawks, and University of Arizona Basketball.
If you meet anyone, living or deceased, who would you meet and why? Marilyn Monroe because she was an icon or Anne Frank to understand how she got through WWII. The Diary of Anne Frank is my favorite book!
What is your favorite part of working at ML&R? Being part of a team that wants the best for their clients and coworkers, alike.
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It’s almost Election Day in the US once again. For those who need a brief civics refresher, every two years the full US House of Representatives and one-third of the Senate are up for reelection. While the outcomes of the elections are uncertain, one thing we can count on is that plenty of opinions and prognostications will be floated in the days to come. In financial circles, this will almost assuredly include any potential for perceived impact on markets. But should long-term investors focus on midterm elections?
By David Booth, Executive Chairman and Founder
It can be challenging to start a conversation about investing. That’s why I encourage having a conversation before the investing conversation—what I like to think of as a “preamble.” Connecting life principles to investment principles is a powerful way to ground abstract principles in reality, and to connect over universal experiences and feelings. It can also help make sense of investment concepts often dismissed as overly complex for those who aren’t familiar with them.
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ML&R Wealth Management is Celebrating 25 Years!
1997 ~ 2022
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Subscribe to our 401(k) Plan Services Quarterly Newsletter |
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Are you responsible for administering your company's 401(k) plan?
Would you like more insight and resources regarding the retirement plan services industry?
If so, please subscribe to our 401(k) Plan Services Quarterly Newsletter. You can check out the last few issues below.
See our latest Retirement Plan Services articles:
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What's Happening in Austin Next Month |
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About ML&R Wealth Management: |
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At ML&R Wealth Management, we take investing personally. Your ML&R Wealth Management advisor will work to develop a lasting relationship with you, keeping in touch to understand your changing goals and to provide an asset management strategy to help achieve them. Whenever you need sound financial advice, you have a direct line to a trusted advisor.
For over 25 years, we have served individuals, families, businesses, and nonprofits with wealth management services, custom retirement and 401(k) plans, and portfolio management.
We believe in accountability and transparency and operate as a fee-only advisor with fees calculated solely on assets under management.
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