It’s almost 2021 and we are all glad to leave 2020 behind!
Vaccines are being distributed and we will all be, hopefully, safe by Spring. Flowers will bloom, restaurants will be open and the world will begin to be accessible to everyone again.
Market Update
Many predict that 2021 will be another successful financial year on Wall Street, especially with the leisure and travel markets improving as the economy reopens.
What to look forward to
The Equity Markets, led by the Technology and Science Sectors, have rebounded very nicely since the lows of March and April.
What to keep an eye on
Of course, we expect plenty of volatility throughout the year, and the Bond and Energy Sectors will continue to be challenging.
The pandemic economy is still far from “normal,” and certain industries have a long uphill battle before returning to pre-COVID economic health. Restaurants, box offices, travel companies, hotels, energy and small business bankruptcies will hit all-time highs in 2021.
Holiday stress, a worsening pandemic, and financial strain
COVID-19 has disrupted nearly every aspect of life, especially the nation’s mental wellness.
As of mid-July, 53% of U.S. adults reported that their mental health has been negatively impacted due to worry and stress over the coronavirus, up from the 32% reported in March. The number has likely increased since.
During this unprecedented time of uncertainty and fear, financial and mental strain are being felt across the spectrum.
The vaccine will do as much to have an emotional cure as it will a physical one.
Moving Forward
We continue to position portfolios to take advantage of current and future economic conditions and diligently research every day, and this reflects in the success of our portfolios. The days of just-close-your-eyes and buy-and-hold strategies are long behind us.
On a more personal note, 2021 is an opportunity to reinvent ourselves. New Year’s Resolutions are a wonderful time-honored tradition, and especially after a year like 2020, we all hope for a better future.
new year’s resolutions for 2021
- Accept what you cannot change.
- Be a better listener.
- Consider things from every angle.
- Disconnect from technology at least once a day.
- Family and friends are your treasures.
- Give more time, energy and resources to charity.
- Love yourself and treat yourself from time to time.
- Open your mind to new ideas.
- Prioritize your time.
- Realize that procrastination is the greatest enemy of success.
- Remember that you are a unique individual and your uniqueness is both your strength and your challenge.
On behalf of your Team at Prosperity Financial Group, we wish you a terrific New Year 2021. Let all your dreams come true!
All my best,
Elliot
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