Chart Talk: May 29th 2024


As investors, we tend to benchmark our portfolios against certain indices – whether it be the S&P 500, Dow Jones Industrial Average, NASDAQ Composite, Total Stock Market Index, or some other index, the list goes on and on. It would be easy to write an entire article, pontificating on which index is the right one to benchmark your portfolio against. However, in the end, that would most likely get us nowhere as the answer is subjective. Everyone has different goals and objectives for their portfolio as well as a specific level of tolerance to risk, unique to them. Furthermore, what makes matters even more complex is the replacement of Defined Benefit Pension Plans with Defined Contribution Plans such as the Profit Sharing or 401(k).

Although the chart above is a few years old, it illustrates the fact that in 1980 approximately eighty percent of the American workforce had a Defined Benefit Pension Plan as compared to just 40% in 2015. The result has been a shifting of risk from the employer to the employee. Although unfortunately most investors use performance solely as a measure for their portfolios, they would be wise to become familiar with its construction as that will provide insight into its longevity. Will it do what it’s intended to do? Will it last for the remainder of my life? The majority of our clients NEED their retirement accounts to sustain them throughout their “golden years” as, other than Social Security, most do not have a guaranteed source of income as the generations prior once did.

This presentation is not an offer or solicitation to buy or sell securities. The information contained in this presentation has been compiled from third party sources and is believed to be reliable, but its accuracy is not guaranteed and should not be relied upon in any way, whatsoever. Fagan portfolio characteristics and holdings are subject to change at any time and are based on a representative portfolio. Holdings and portfolio characteristics of individual client portfolios may differ, sometimes significantly, from those shown. This information does not constitute, and should not be construed as, investment advice or recommendations with respect to the securities listed.

Additional information including management fees and expenses is provided on our Form ADV Part 2. The actual return and value of an account fluctuate and, at any time, the account may be worth more or less than the amount invested. Bond Investments are affected by interest rate changes and the credit-worthiness of the issues held in the portfolio. A rise in interest rates will cause a decrease in the value of fixed income positions. Past performance results are not indicative of future results.”

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