All eyes right now are on the Russia, Ukraine conflict.
What do 2 countries on the other side of the world have to do with us, your clients, and their retirements? … A lot more than I realized.
I’m not a current affairs expert so I’ll cite a few articles if you’d like to dig deeper for your education and clients.
- Why is Russia invading Ukraine?
- Ukraine and Russia: What you need to know right now
- Russia’s attached shown in Maps
The response the US (and the world) chooses to take will have an impact on our economy one way or another. The best summary on how it will affect our markets from WSJ:
“Cutting off the banking system isn’t only about prohibiting cross-border financial transactions: It can essentially sever the entire economy. At an estimated $1.7 trillion last year, Russia’s gross domestic product makes it the 12th-largest economy in the world. Even if the global economy weren’t hobbled by a two-plus-year pandemic, rising inflation, supply-chain disruptions and escalating East-West political tensions, the potential loss of 2% of global GDP and hobbling of one of the world’s top oil exporters could inflict severe damage to the rest of world.”
Praying for Ukraine.
Before I jump into the quick hits, we are seeing a LARGE ramp up in marketing from all of you and I couldn’t be more excited to see the impact you all will do in the next few months with the plans you will create for these retirees!
AE and your Main Team are here when you need us!
Here are your Quick Hits:
The Business of Advice Podcast value keeps coming!
- Last week I highlighted “The Best of” series, but there have been two more interviews that are must listens to this week!
Map Explainer: Key Facts about Ukraine
Great article on being a critic vs being in the arena – Robert Glazer
- With many of you scaling your businesses this article is timely lesson to learn from Peloton and it’s fast growth and mistakes.
- “Anyone who has built a company can empathize with Foley’s story. Creating and building a business requires creating a resilient vision, overcoming doubters and persevering through long, hard times. Entrepreneurship is usually only glamorous in the rearview mirror.”
- “Clearly Foley and Peloton made many mistakes along the way. But so does anyone who is taking risks and doing something for the first time, especially in the public eye. And while it’s fine to criticize, it’s also crucial to remember that it is always easier to criticize than to create.
- If you often find yourself in the critic’s chair, maybe it’s time to enter the arena?”
How do investors Fail?
- Solid article to share with clients and prospects
- “Concentration to get rich, but diversification to stay rich.”
Why Participants Should Consider a Roth Conversion During Downturns
- “The most recent S&P 500 market decline has been steep and quick with the U.S. stock market briefly dropping 10% in early 2022 from its most recent heights. Such magnitude of value decline is painful. However, investors could pause and think whether they want to take advantage of the market dent to make a full or partial Roth conversion.”
Quote of the week
“There is only one way to avoid criticism: do nothing, say nothing, and be nothing.”
– Elbert Hubbard
