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YOUR FINANCIAL ADVOCATE 24 MAY
IS ‘SELL IN MAY’ STILL RELEVANT IN TODAY’S FAST-PACED MARKET?
There’s an old adage, a seasonal trade strategy in the world of investing that says, ”Sell in May and stay away.” For years, this saying, also known as “the Halloween indicator,” has been a philosophy that many people in the industry followed regarding market timing. Essentially, it advises investors to sell on May 1 and buy back in after Halloween. But why was this the general advice? The rationale behind the philosophy was that if you took your winnings in May and parked and waited until the fall season rolled around, you’d be able to avoid a lot of potentially devastating market turbulence. Believe it or not, there are studies that show that, historically, this was decent market advice. As I’m mentioning it today, the same may not be true. As I write this, the market is highly overvalued in the estimation of many leading professionals. One would be prudent to think about the same strategy being true today. To me, reflecting on this old adage underscores how fundamentally different the market is in 2024 than it was many years ago. One of the unwritten reasons why people believed that “Sell in May and stay away” was a rule to follow was that back in the day, during the long days of summer, most of the stock brokers weren’t working as actively. Instead, they were off vacationing in the Hamptons, Europe, or other lavish destinations. There weren’t as many potential buyers or sellers, so the market was under some static pressure.
Today, in our era of international electronic trading, where milliseconds matter and everything is possible, very few people take time off from the market. We can trade from our second home in the Hamptons, Yellowstone National Park, or Italy instead of being trapped behind a desk with a phone and computer on Wall Street. Everything is virtually at our fingertips. Not to mention, this year we have the 2024 election swiftly approaching. This upcoming electoral cycle will prove to be vastly different from the ones that have characterized most of our market history. So it’ll be interesting to see it play out. I’m not predicting that we will have that type of summer, but there are many indications that we could have a very volatile season with the upcoming election
craziness and high valuation present in the market. While selling and staying away may lead you to miss out on some potential opportunities, there’s also peace of mind in having a protective floor under where you are today, at least for some of your assets, through either investment or insurance strategies to protect against what is happening out there. So, it may be time to think about selling in May and staying away as we wait to see what happens in the market in the near future. There are ways to capture some of the continued upside while removing unnecessary risk. Remember — protect yourself first!
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LAURA BRAGG, LEAD LITIGATION PARALEGAL STAFF SPOTLIGHT:
What do you do here at DuPont and Blumenstiel? I started working here as the lead litigation paralegal in December of 2022. My job is to complete intake paperwork for our clientele, supervise remote workers, and order all medical records that are needed for our cases. My typical workday consists of monitoring Attorney Blumenstiel’s email, as well as my own, and all our docketing emails. I also consistently check all our calendars and case dockets to ensure that deadlines are properly met. What did you do before coming to work for us? I’ve worked at a few other large law firms in the Columbus area, and that experience has prepared me well for this position. I’ve handled personal injury, probate, estate, domestic litigation, and many other types of cases. One thing that most people don’t know about me is that I actually studied ancient history and anthropology before deciding to become a paralegal. I love archeology, and even have a tattoo in hieroglyphics. What is your favorite part of your job? My favorite part of my job is working on the vaccine act cases. It makes me feel good to be able to help an individual or their families be compensated for their injuries.
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Top Financial Moves to Make This Year Maximize Your Tax Refund
Receiving a tax refund can feel like a huge, unexpected bonus. While it’s tempting to splurge on a lavish vacation or a new gadget, it’s important to use the extra cash wisely to safeguard your financial well-being. Here are some smart strategies to consider if you find yourself with a tax refund this year. PAY OFF HIGH-INTEREST DEBT One of the most impactful uses for your tax refund is to reduce or eliminate high-interest debt, such as credit card balances, payday loans, or high-interest personal loans. The average credit card interest rate hovers around 27%. By paying off these debts, you essentially earn a return on your money equal to the interest rate you would otherwise be paying. For example, paying off $1,000 of credit card debt at 27% saves you $270 in annual interest. BUILD OR BOLSTER AN EMERGENCY FUND It’s often recommended that you have an emergency fund sufficient to cover 3–6 months of living expenses. This fund can be a financial lifesaver in cases of unexpected job loss, medical emergencies, or urgent home repairs. Placing your tax refund in a high-yield savings account helps provide a cushion that can keep you afloat during tough times without having to rely on credit.
INVEST IN YOUR FUTURE Consider using your refund to invest in a retirement account like an IRA or increase your contribution to a 401(k) if your employer offers one. Not only does this help build your nest egg, but it can also reduce your taxable income for the year if contributions are made on a pre-tax basis. Over time, the compound interest from these investments can grow significantly, making this a particularly powerful use of your refund. SAVE FOR A SPECIFIC GOAL If you have a specific financial goal, such as saving for a down payment on a house, a child’s education, or a dream vacation, putting your tax refund toward these savings can help reach your goal faster. Dedicated savings accounts for specific goals can keep you motivated and make large expenses more manageable. No matter what you choose to do with your tax refund, be sure it aligns with your overall financial goals and current needs. Thoughtful planning can transform this annual windfall into a tool for achieving financial stability and long-term goals!
SUDOKU
OLIVE OIL CAKE WITH HONEY-YOGURT CREAM AND STRAWBERRIES
Inspired by FoodAndWine.com
INGREDIENTS
1 1/2 cups almond flour 1/2 cup all-purpose flour
3 1/2 tbsp lime juice 1 tsp vanilla extract
• • • • • • • •
• • •
1 tsp baking powder 1/2 tsp baking soda
2 qts fresh strawberries, quartered 1 cup plain whole-milk Greek yogurt
1/2 cup granulated sugar
•
4 large eggs
1/2 cup extra-virgin olive oil
1/4 cup heavy cream
• •
1 tsp lime zest
1/4 cup honey
DIRECTIONS
1. Preheat oven to 350 F. Lightly grease 8-inch springform pan. Line with parchment paper and lightly grease. 2. In medium bowl, whisk together flours, baking powder, and baking soda. 3. In a stand mixer, whisk sugar and eggs on medium-high, about 3 minutes. Add oil, lime zest, lime juice, and vanilla. On low, gradually add flour mixture until just incorporated. 4. Pour batter into pan. Bake until golden brown and toothpick comes out with crumbs, 40–45 minutes. Cool for 10 minutes. Invert cake out of pan onto wire rack and let cool completely. 5. Whisk yogurt, cream, and honey. Top each cake slice with spoonfuls of yogurt mixture and strawberries.
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YOUR FINANCIAL ADVOCATE A publication of Advocate Wealth Solutions, blending original and curated content, and is intended to educate the general public about investing, finance, estate planning, personal injury, and small-business issues. It is not intended to be legal or financial advice. Every situation is different. The information in this newsletter may be freely copied and distributed as long as the newsletter is copied in its entirety.
INSIDE
Decoding Market Trends: Should You Really Sell in May? PAGE 1 Spotlight: Laura Bragg Our Podcast Client Appreciation PAGE 2 Transform Your Tax Refund Into a Powerful Financial Tool Olive Oil Cake With Honey-Yogurt Cream and Strawberries PAGE 3 Explore the Historic Fortifications of the Highlands PAGE 4
Defending the Highlands
SCOTLAND’S MUST-SEE CASTLES
From the heights of Castle Hill to the idyllic waters of Loch Duich, the historic castles of Scotland stun tourists and history enthusiasts alike. Today, these castles are well-maintained and ready to receive visitors from around the world. If you want to explore the beauty of the highlands from the rocky ramparts of Scotland’s greatest castles, these are three landmarks you need to visit. EDINBURGH CASTLE Located amidst Edinburgh’s Old Town — a World Heritage Site — the daunting and long-standing Edinburgh Castle on Castle Hill is a bulwark that has defended the Scottish capital for nearly a millennium. The military still uses parts of the formidable ramparts, but the rest serves as a can’t-miss tourist destination. The castle also houses the Crown Jewels of Scotland, known as the Honours, and famed cannons, like Mons
Meg, one of the grandest pieces of medieval artillery ever constructed and given to King James II in 1457 A.D.
ancient Picts lived in the area long before a monastery was consecrated on the grounds in 1276 A.D. In 1392, Sir William Keith seized the holy site’s strategic location by building its first stone fortification, The Keep. An even more unorthodox move came in 1593, when George Keith, the 5th Earl Marischal, built The Lion’s Den at Dunnottar Castle to house his pet lion. EILEAN DONAN CASTLE There is a reason Eilean Donan Castle is one of the most photographed castles in the world! Situated on a tiny island at the mouth of Loch Duich, this formidable fortress began as a monastery in 634 A.D. before being converted to a fortress in the 12th century to protect the area from Viking raids. Now administered by the Conchra Charitable Trust, this castle houses rare artifacts, such as a sword rumored to be from the famed battle of Culloden in 1745.
DUNNOTTAR CASTLE Dunnottar Castle is located on the northeastern coast of Scotland and is surrounded on three sides by the waters of the North Sea. There is evidence that
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