By Jeremy A. Wechsler, Esq.
Investment Advisor Representative
[email protected]
Last week, my dad and I journeyed to the 50th state, Hawaii. I was last there when I was 10 years old, and don’t remember much because I was sick most of the time. Before the fun began, we had some business meetings. Can’t stop business even in paradise! After, we had a couple of interesting excursions. First, we rode bikes down the slopes of the Haleakalā mountain in Maui. You start thousands of feet up the mountain and ride all the way down through changing climates and scenery (it was beautiful, of course). That sounded great, until we were riding up… and up… and then I was regretting signing up. But my dad and I made it down safely!
After, we jumped on a plane to Honolulu and had the opportunity to visit Pearl Harbor, which was an emotional but prideful experience. Standing there and thinking about the events of December 7, 1941 gives you a real sense of history and perspective. Visiting the U.S.S. Arizona memorial was a powerful reminder of the sacrifices made by previous generations.
Of course, even when you’re in Hawaii, the markets and world don’t stop moving.
So far this year we’ve seen a lot of volatility in the markets. All of the major U.S. indexes across the board are in the red for the year. Investors are dealing with a steady stream of uncertainty—wars and geopolitical tensions, questions about the pace and impact of A.I., interest rate policy, and the overall direction of the global economy.
When headlines pile up like this, it’s easy to feel anxious about your investments. Some folks look to what large institutions are doing or saying, for guidance on how to handle their own portfolio. But earlier this week, Jason Zweig from the Wall Street Journal wrote, “Yes, some individual investors do foolish things. They chase hot returns, believe in financial nonsense and panic during downturns…In other words, they’re just like institutional investors!”
It’s important to keep things in perspective. Although the market is down so far this year, it isn’t down by much. Let’s take a trip down memory lane: On April 8, 2025, amid the height of tariff announcements, the S&P 500 closed at 4,982. A month later, the market closed at around 5,600. At the end of yesterday, the S&P stood at 6,672. Historically, some of the worst days in the market are often followed by some of the best. Missing those recovery days can have a significant long-term impact on a portfolio.
Our job as retirement and income planners is to ensure that you have enough safe money, so that regardless of the market swings, you can SWAN (sleep well at night). The FRS investment team continues to monitor all developments closely and make adjustments when necessary. As always, if you have questions or concerns about your portfolio, don’t hesitate to reach out.
In the meantime, with warmer weather in the air, enjoy the taste of spring. When things get crazy, sometimes a breath of fresh air can give us some perspective. Enjoy the weekend!