2023 Kick-off | AWM Insights #139

Welcome to 2023! The New Year is always a natural time for reflection. We looked back on the year that was in our last episode.  In this week’s episode we take a look forward and set some foundational expectations for the year ahead, whatever it may bring. 

The big topics in the financial media at the moment are 2023 predictions. And they are just that, predictions! No one has a crystal ball and no one seems to be able to predict the future with any certainty. So while it is certainly a fun exercise and a great topic over a beer or glass of wine or other beverage of choice, history shows you should definitely stop there and rely on a systematic, long-term approach to managing and building multi-generational wealth. Just remember markets tend to fool most people most of the time and we’ll talk through ways to avoid this

As we enter 2023, it’s important to remember that we view money as a tool to accomplish your priorities. We want to intentionally allocate your money in a way that supports what is most important to you. As such, we structure portfolios and your net worth in a way that increases the likelihood of success and minimizes the impact of chance on your outcomes. 

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Episode Highlights

0:00 Intro1:05 How do we think about predictions?1:19 What we are thinking about going into 20232:32 Markets are positive on an annual basis about 75% of the time2:52 2022 validated some of our thinking3:25 Flashback to Dec 2019, who would’ve predicted where we are today?4:42 It’s natural to think we can outguess markets but reflection helps remind us what actually works5:11 You don’t have to play the prediction game to succeed6:59 The importance of Bonds in a portfolio7:50 Markets fool most people most of the time9:35 Focus on meeting your priorities in the highest probable way10:18 Humans are wired for short-term gratification11:53 Wrap up