Hello friends!

It’s officially Fall and we’re loving the break in hot weather — let’s hope it lasts.

This week we’re taking a break from estate planning to look at September from a market perspective. Then we’ll share some news about the Pfizer COVID vaccine with regards to vaccinating children and booster shots for some adults.

September is, for some reason, usually known as being a poor-performing month of the year — investors sometimes call this the September Effect. And in the last couple of weeks of the month, we did see some volatility.

Part of this is because one of the largest real estate developers in China, Evergrande, was on the brink of default, which puts a lot of fear into the marketplace worldwide. Investors also become concerned about the deadline to raise the debt ceiling.

But then, stocks rebounded a bit because of news that China may bail out Evergrande, and the federal reserve offered some soothing words after its meeting this Wednesday about not being too aggressive with raising interest rates. So the markets snapped back. This sort of market behavior isn’t unusual for September, and we might see more volatility through the end of the year, and remember: this is why we keep your portfolios diversified.

Also in the news lately are Pfizer COVID vaccines. Two big pieces of news are out about these vaccines. First, Pfizer announced that a trial showed its vaccine is safe and generated a robust antibody response in children aged 5-11. The next step is submission to the FDA for emergency use authorization, which could happen in a matter of weeks. Read the Pfizer announcement in full here.

Meanwhile, the CDC is now recommending a booster shot of the Pfizer vaccine for those 65 and over, adults with underlying medical conditions, and adults in high-risk working and institutional settings. According to the CDC, people in these categories should seek out a booster shot no sooner than six months after their second Pfizer dose. The FDA has not yet considered Moderna’s application for boosters, and Johnson & Johnson has not yet submitted one.

While we’re talking about vaccines, please remember that now is a great time to get your annual flu shot. Get updated information about this important vaccine here.

We hope everyone is staying healthy, wealthy, and wise in these times! We’ll be back with you next week.

How We Help

 At Obsidian, we work with a considerable number of current and retired government workers. We recently helped a soon-to-retire government employee in four main areas. First, we performed an analysis of his pension plan and how that would fit into his family’s future cash flow plan, taking into consideration social security as well as spousal options. Second, we gave advice on how to allocate his Thrift Savings Plan now in preparation for retirement. Third, we gave guidance about how the total family portfolio would be structured in retirement so that this family’s needs could be met with the opportunity to be charitable and leave a legacy to their children. Finally, we were able to consult with our client to provide suggestions about the best benefits to keep from the government plan in conjunction with Medicare so that health coverage would never be a worry.

Advisory Services offered through Obsidian Personal Planning Solutions, LLC. Securities are offered through Triad Advisors, member FINRA/SIPC. Obsidian Personal Planning Solutions, LLC, and Obsidian Personal Planning Solutions, Inc, are not affiliated with Triad Advisors.