Many investors were glad to see the end of 2022. But what’s ahead this year? And what moves can you make in response to last year’s results? To begin with, here’s what happened: 2022 was the worst year for the financial markets since 2008, with the Dow Jones Industrial Average dropping nearly 9%, the S&P 500 losing more than 19% and the technology-heavy Nasdaq falling 33%. Several factors contributed to these results, including the moves by the Federal Reserve to aggressively hike interest rates to combat inflation, the Russia-Ukraine war, recession fears and increased concern over COVID-19 cases in China.
However, 2023 may be different. Many experts believe that inflation may moderate considerably, especially during the second half of the year. If that happens, the Fed may well pause its interest rate hikes and perhaps even consider cutting rates — a move that is often positive for the financial markets. Also, if a recession emerges, but it’s relatively short and mild, as expected, the rebounding economy may be favorable for the investment outlook.
Regardless of what transpires this year, though, you can help move toward your financial goals by following some basic steps that make sense in all investment environments. Here are a few to consider:
• Focus on the long term. It can be
disconcerting to look at investment statements containing negative results, as was the case for many people throughout 2022. But it’s important to view a single year’s outcome in the larger context — and historically, the stock market has had many more positive years than negative ones, though, of course, past performance is not a guarantee of what will happen in the future. In any case, it’s generally not a good idea to overreact to short-term downturns and make moves that could work against your long-term strategy.
• Keep adequate cash in your portfolio. The
value of your investments may have gone down in 2022 — but you didn’t really sustain any actual losses unless you sold those investments for less than what you paid for them. To avoid having to sell investments to supplement your income or to
pay for unforeseen costs, such as a major home or car repair, try to build the “cash” portion of your portfolio, so it covers a few months’ worth of living expenses.
When you’re retired, and it becomes even more imperative to avoid selling investments when their price is down, you may need an even bigger pool of available cash.
• Look for opportunities. Although 2022 was certainly a down year for the financial markets, some developments have presented new opportunities for investors. For one thing, the contribution limits have increased for IRAs, 401(k)s, and Health Savings Accounts (HSAs), all of which are pegged to inflation. Also, with interest rates considerably higher than they were a year ago, fixed-income investments may offer more income and provide added stability in portfolios during times of economic weakness.
When you’ve been investing for a long time, you will experience down years in the market, such as the one in 2022. These years are an inevitable part of the investment process. But since you can’t control what happens in the financial markets, you need to concentrate on what you can control — and that may be a lot more than you think.
Chad Choate III, AAMS Edward Jones
828 3rd Ave W. Bradenton, FL 34205
Keeping Independent Senior Living Costs AffordableBy: Country Meadows | Independent LivingAs people plan for the future, one common goal among older adults is to maintain independence in the comfort of their own homes for as long as possible. However, life is unpredictable, and there may come a time when seniors find themselves in need of a little extra support with everyday tasks or simply crave companionship. Independent living is designed for seniors who are generally healthy and active, but prefer a community setting that offers convenience, social engagement with others and amenities such as meals or recreational activity programs. Independent senior living costs can vary widely based on several factors such as location, amenities, additional services provided and type of housing.Housing typeThe type of housing a senior chooses can significantly impact independent senior living costs. When seeking information on various types of housing, seniors will find options that may include apartments, cottages, condominiums or single-family homes. Larger or more luxurious accommodations typically come at a cost with higher fees.LocationParticular geographic areas can influence overall expenses. Independent senior living in urban or high-demand locations will have higher costs than those in rural areas, as is the case in private homes or rental properties. For example, independent senior living in New York City will come at a much higher rate than living in rural Pennsylvania.AmenitiesIndependent senior living costs often include a range of amenities and services such as fitness centers, activities programs, housekeeping, laundry and transportation services. The more extensive and upscale the amenities, the higher the cost may be. Consider which amenities are important to you and your loved one when choosing senior living accommodations.Meal plansSome independent living communities offer meal plans as part of their services. The cost of these plans can vary based on the number of meals provided each day as well as dining options available, such as special meals where premium menu items such as filet mignon or lobster are offered.Utilities and maintenanceIndependent senior living costs may include utilities and maintenance services in their fees, as is the case at Country Meadows Retirement Communities. Others may have separate charges for these services, which is why its essential to clarify items included in the monthly fee.Healthcare servicesWhile independent living is designed for seniors who are relatively healthy, some communities offer healthcare services or have arrangements with healthcare providers and vendors such as nursing agencies and medical specialists. Additional healthcare services may come with extra costs.Community fees and depositsThere are several different types of senior living communities, and with those come a wide variety of costs. A Continuing Care Retirement Community, also known as a CCRC, may require a large entrance fee for admission as well as a monthly charge to guarantee service availability at every level of care. Other senior living facilities may require a community fee in addition to monthly charges. This fee may cover administrative costs, reserve funds or contribute to community improvements.Social and recreational activitiesAccess to social and recreational activities may be included in the monthly fee at some senior living communities, such as Country Meadows Vibe program. Some independent senior living costs might include higher fees for organized events, outings, entertainment, classes and fitness services.Transportation servicesTransportation services for medical appointments, shopping trips and social outings may be included in independent senior living pricing at some communities. At other locations, transportation services may be billed separately depending on a variety of factors such as distance and time of day.Security and safety featuresIndependent senior living costs typically include secured building entrances and 24-hour emergency response systems in private apartments. Additional security features which might incur higher fees are 24/7 medical alert systems and security personnel, which can significantly impact cost.Its crucial for seniors and their families to thoroughly review the costs of each community. Additionally, considering the long-term financial implications, including any potential increases in fees, is important when evaluating the affordability of senior independent living.Stop by one of Country Meadows Retirement Communities nine campuses in Pennsylvania or one in Frederick, Md., to pay us a visit. For information about any of our locations or services, or to ask a Question, please reach out to our expert advisors. Were here to help! Country Meadows
New Years resolutions are hard to keep without a plan. If one of your goals is healthy aging, ArchWell Health is here to help. Take these monthly steps to a healthier, happier you in 2024.JanuaryStart the year right with your first regular wellness visit of 2024 at ArchWell Health. Your ArchWell Health doctor will review your medical history and prescriptions and help you make a wellness plan for the year. At ArchWell Health you can see your primary care provider as often as you need to! Our care team will make sure to get follow-up appointments on your calendar, too.What to do:Schedule your regular wellness visits.FebruaryThis month we mark American Heart Month (and Valentines Day, of course). A great way to protect your heart is to control your blood pressure. Nearly half of American adults have high blood pressure and many are unaware that they do.What to do:Get your blood pressure checked.MarchMarch is Colorectal Cancer Awareness Month. Colorectal cancer is the second deadliest cancer in the U.S., but its largely preventable. Medicare covers screening colonoscopies at no cost to you. You can also talk with your doctor about alternative screenings, including stool-based tests that look at your DNA and blood to determine if you may have irregular colon or rectal growth.What to do:Schedule a colorectal cancer screening.AprilApril is National Minority Health Month. Members of racial and ethnic minorities face bigger disease burdens for a variety of reasons, including access to care. If you're a member of one of these groups, have conversations this month about your unique health challenges due to family history or other risk factors. If not, learn about the unique health challenges your neighbors may face at the U.S. Department of Health and Human Services Office of Minority Healths website.What to do:Talk with your doctor about challenges that may affect your health.MayMay is Better Hearing and Speech Month, and a good time to think about how important hearing is. Hearing loss contributes to depression, isolation, falls and even car wrecks. And it affects 1 in 3 older adults.What to do:Schedule a hearing test.JuneJune is Mens Health Month, so listen up, men. Prostate cancer is the second most common cancer in men (after skin cancer). The good news: it grows slowly, so treatment may not be needed. But early detection is key.What to do:Ask your doctor if you should have a prostate cancer screening.Women, youre not off the hook. Schedule your mammogram now, as calendar openings for this preventive screening fill up quickly. (See October for more information.)JulyJust in time for outdoor fun, its UV Safety Month. More people get skin cancer than any other form of cancer. You can lower your risk by practicing sun safety.What to do:Stop by ArchWell Health to see your doctor for a skin check.AugustAugust is National Immunization Awareness Month, a great time to ensure youre up to date on your shots. That includes newer vaccines that protect against COVID-19, shingles and RSV (respiratory syncytial virus). RSV alone is responsible for the death of nearly 10,000 older adults each year.What to do:Review your list of vaccinations and talk with your doctor about those youve missed.SeptemberSchool is back, and so is the flu. The flu can make anybody sick but can be deadly for older adults. Up to 85% of flu-related deaths occur among people 65 and older. The best way to prevent it is to get vaccinated.What to do:Schedule a flu shot before the end of next month.OctoberOctober is Breast Cancer Awareness Month. Nows the time for a mammogram. This simple test can spot breast cancer up to three years before you feel a lump. Since breast cancer affects more women than any non-skin-related cancer, regular screenings are critical.What to do:Get a mammogram.NovemberNovember is National Diabetes Month, a reminder to control your blood sugar. Diabetes affects 38 million American adults, but many of them dont realize they have it. Its the eighth leading cause of death in the U.S. and the leading cause of kidney failure.What to do:Get your blood sugar tested.DecemberThe holiday season can be a time of joy, but it can also be a time of sadness, especially if youre socially isolated. Find ways this month to stay active and engaged with other people. Your ArchWell Health center even has weekly activities for older adults in the community.What to do:Ask your ArchWell Health doctor about mental health resources that could help you.
A healthy life is an active one, and activities for older adults are best shared with friends.Were all made for social connection. But as we get older, it gets harder to keep friendships going. And this often leads to loneliness and isolation.Sadness and depression are typical side effects of being lonely. But did you know being lonely may also increase your risk for heart disease and stroke? According to the Centers for Diseases Control and Prevention (CDC), theres a 29% increased risk of heart disease and a 32% increased risk of stroke for those who are lonely or isolated.Staying busy is one way to keep these risks down. But getting out of the house to do physical activities isnt always possible or even enjoyable. Especially if youre doing them alone!What if you could stay engaged, active and live your best healthy life through strong relationships? Good news: You can! Stay connected to these 8 kinds of people to boost your mental, physical and emotional health.1. Healthcare ProvidersStaying up to date on regular wellness visits, bi-annual dental cleanings and specialty-care checkups is a big part of healthy aging. And having a healthcare provider who you trust like a friend makes those visits more enjoyable (and less like a chore!).ArchWell Health primary care providers spend more time with you to, a. learn about your lifestyle, b. listen to your health concerns and c. answer any questions you have. Plus, ArchWell Health offices have full care teams of nurses, social workers, medical assistants and other people to support you as you age. It takes a village, and ArchWell Health is here for it. Learn more about ArchWell Health today: Get Started!2. Family That Brings You JoyWhether by blood or by choice, family is forever. But let's face it: older adults need stress-free interactions. Spend time with the family members and friends you genuinely like. These people make you laugh, remember the good times and fill you with joy.Communicate regularly by phone, email or snail mail if you can't meet face-to-face. And cut down on contact with any family who add extra emotional, physical or financial worries to your plate.3. Active AgematesWe all have those friends with a "forever young" spirit. They're the first to know about activities for older adults and theyre always up for a new adventure, near or far. Keep these people on speed dial.Whether it's a book club or a Beyonc concert, chances are they know how to get in and have a great time! If you don't have one of these friends, stop by ArchWell Health to participate in their weekly classes. These events are open to the public and include arts and crafts, chair yoga and educational seminars.4. Big ThinkersAging is no reason to leave decades of experience and expertise on a shelf. Older adults need intellectually stimulating friends and activities to thrive. Connect with big thinkers by attending book clubs at your local library or competing in chess matches in the park.Some people take up new skills or join online courses. Check out ArchWell Healths educational seminar offerings. Whatever you choose, keep your brain fresh by being a lifelong student.5. Movers and ShakersStaying physically active is one of the best ways to stay healthy as you age. Easier said than done when youre housebound or have chronic pain! To stay motivated to exercise, take nature walks and do other activities that get the blood pumping. Grab a friend to go alone as a fitness buddy or accountability partner.The movers and shakers in your life might be the same age or younger than you. Age doesnt matter, as long as they're committed to good nutrition and healthy habits. You might even learn some new health hacks to add to your daily routine.6. KidsOne of the hardest things about aging is feeling like the world is changing too fast. Spending time with the kids in your life brings things into focus. Whether they're tiny babies, teeny tots or even testy teens, kids keep you young.An added bonus: they benefit from your wisdom, and you can learn from their perspectives and lean on their skills, especially when it comes to using FaceTime or figuring out TikTok.7. People Who Speak Your LanguageWhether you moved to the US as a young adult or came here more recently, the CDC noted that among other vulnerable groups theres a higher risk for social isolation among immigrants. Theres a few different reasons for this. For one thing, older adults may find it harder to travel to their birth country to visit family who may still live there, or to be surrounded by their culture of origin.If youre looking for that extra sense of belonging, check out nearby community, cultural and senior care centers that focus on people who share your ethnic or linguistic background. If you dont get to hear your first language much where you live, try listening to in-language audiobooks and podcasts.8. Fellow EnthusiastsWhether its knitting, listening to jazz or playing mahjong, make it a point to hang out with people who share your passions. They wont get annoyed when you call to pick their brain, and their joy for your shared hobby will keep you connected to a vibrant community.Remember, the things you enjoy dont have to be things youre good at. So, dont hide your love for karaoke, painting or baking just because you could use a bit more practice. In fact, that just means you should hang out more often with these fantastic friends.It's never too late...If you think getting out of the house is a young persons game, think again. From bowling alleys to movie theaters, senior discounts and 55+ designated days abound. Take advantage of these specials as opportunities to make new friendships or rekindle old ones with people who share your hobbies.Want to stay close to home? Invite relatives for a walk around the block, or have your neighbors come over for coffee on your porch. Just enjoying a bit of sunlight and stimulating conversation is good for the soul.And it never hurts to laugh at yourself every once in a while. Try new thingseven if its just to say you tried it. Be open to discover hidden talents and interests.Don't know where to start? Reach out to ArchWell Health today to learn more about all the resources waiting for you there.
Experience and Background I am a financial advisor in Bradenton, FL, and began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals. As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that. Whether you're planning for retirement, saving for college for children or grandchildren or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service. But we're not alone. Thousands of people and advanced technology support from our office can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals. I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program. I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.