Brief financial message for end-of- the year reviews

Thanks for visiting Gian Michael Simmons Productions. I am a retired 19-year Wall Street Wealth Advisor. I just wanted to share some brief comments regarding your finances, as they are important to me. Each calendar year presents four business quarters, which are divided into 3 months for each business quarter. We are now in the fourth and final quarter for this year's business cycle. Because the fourth quarter presents itself during the final phases of the year, which also includes many holidays, celebrations, and festivals, now is the best time to review your finances and how you are making the most for your present plan for your future. I encourage all to have a professional discussion with your financial professionals AND to review your financial plan for effectiveness. This is not a invest and "forget it" markets. You must be actively engaging in the management of your finances and develop, as well as maintain, adequate knowledge regarding the investments where your funds are participating in. Effective communication is key to success.


In a Biblical sense, I will draw you to Ecclesiastics 1:1, to everything is a time and a season. Know when to invest. Where to invest. How to invest. Why you're investing. These are basic fundamental discretions to the will of your judgements. Judge wisely! I'm not saying that the Bible condones investing. I'm only saying how to engage wisely.


Also, I would encourage all to review your beneficiary designations on all your accounts. Ensure that this is in writing and confirmed receipt by the managing firm. Do not assume that just because you mailed it in, that it was received and/or filed. Also, check to ensure the accuracy of proper spelling and contact information. Update, in writing, if necessary.


Review your emergency fund and savings. Are you maintaining enough funds in your emergency fund? I recommend that you have at a minimum of six to nine months of liquid and non-invested cash for your emergency fund. This fund means exactly what is says and it only to be used for emergencies only. This should also not be invested in risky asset classes. It needs to be safe and available when you need it.


Those equity and bond investors, I encourage you to maintain diversification amongst industries and sectors. Some industries are more COVID defensive than others. Also, just because a company is COVID defensive doesn't guarantee that you will profit in the investment. All investments are governed by the rules of pricing and timing. You must know how to utilize these tools in an effective manner to maximize your profit potential and minimize your risk exposures. I prefer a return with a risk well taken and least risk as possible. Also, know how to value an investment. Know the difference between a valuation and a price. Technicians and chartist may identify signs, while fundamentalist may witness things personally Never consider that you are an expert as we are in a new market. Caution how you engage and prepare yourself for this new age. Discipline is always best and it's ideal and favorable to confirm all things in prayer with God.


Lastly, what profits a man to gain the world and lose his soul? Also, think about what the Bible says how difficult it would be for a rich man to enter into heaven. Happy hunting and Happy Holidays from Gian Michael Simmons Productions. Be sure to become a member, create a profile, and engage.


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