Perspectives for 2024 | Wisdom, Wealth, and Wellness

Jonathan Satovsky
CFP®, ChFC®, CIMA®, CPWA®, CDFA®, DACFP

Good morning, good afternoon, good evening. Depending on the part of the world you’re in, this is Jonathan Satovsky of Satovsky Asset Management. Chilly edition of “Seeking Wealth, Wisdom and Wellness.” And today’s reflection about taking the long view [includes] reframing perspectives and storytelling.

What am I talking about? When people learn that I’m in finance and I help people with their relationship with money, with behavioral coaching, financial planning, wealth management, and investing, the first question that I get generally with a fair amount of nervous energy is, “What do you think is going to happen to the economy and the markets next year?” To which I retort, “Why does it matter? What’s the importance to you? What’s the relevance to you specifically? Are you living on the edge where what happens in the next quarter or year is going to be life or death for you? Is it make or break or can we reframe that picture to take a longer view?”

In this case, the guy had a certain business and I said, “Well, at the end of the day, if you extract enough profits out of the business to set aside and invest in other profitable businesses that you can benefit by the dividends and profits of other people’s labor, then work is optional. So then whatever happens in the economy, you can insulate yourself from – if you take the long view.”

And to just frame that perspective kind of simply – it’s just hard to conceptualize how simple it can be. For example, we’re now approaching 2024. Go back to 1994. Do you know what the S&P 500 is crossing? 4,500 now. Do you know what the S&P 500 was in 1994, the year I started in the advisory business? Which would have been 30 years ago. 450. So a 10x increase, not including dividends.

Think about that on your path while taking the long view.

Have a great day and a great year ahead.

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Video Recorded December 22, 2023
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Disclosures

This blog post is not intended to be, nor should it be construed or used as, an offer to sell, or a solicitation or offer to buy any securities or interests in any strategy offered by Satovsky Asset Management, LLC (“SAM”). SAM is a registered investment advisor with the Securities and Exchange Commission – for more information see www.adviserinfo.sec.gov. Please remember that different types of investments involve varying degrees of risk, and that past performance is not indicative of future results. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the strategies recommended or undertaken by SAM) will be profitable. Market index information shown herein is included to show relative market performance for the periods indicated and not as standards of comparison. The market volatility, liquidity and other characteristics of SAM’s portfolio composition are materially different from the securities listed on public market indices. Market index information was compiled from sources that SAM believes to be reliable. No representation of guarantee is made hereby with respect of the accuracy or completeness or such data. Opinions are as of date of video and are subject to change. A copy of SAM’s current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request. SAM undertakes no duty to update information presented herein.

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