Happy Labor Day

News & Commentary

Sep 04, 2020

According to the Department of Labor website, Labor Day is a creation of the Labor movement and is dedicated to the social and economic achievements of American workers. It constitutes a yearly national tribute to the contributions that workers have made to the strength, prosperity and well-being of our country.

I definitely have a love/hate relationship with Labor Day. I love summer and everything associated with it. The sun is shining, people are happier, and there are a lot of outdoor activities to enjoy. The hate comes from the holiday signifying the end of the summer. The love stems from a lot of things. I enjoy the seasons and fall is a great time of year. The air is a little cooler, but not too cool, leaves are changing and sports are in full swing with baseball playoffs and the start of football. This year, we get a bonus with the NBA and NHL playoffs being part of it.

The thing I like about Labor Day most is that it has that sense of returning back to business. Things seem to slow down in the summer. Once Labor Day comes and goes, the pace starts to pick back up. The kids are back in school (at least in a normal year), not as many people are on vacation and everyone is more focused. I like that feeling a lot.

The fall is usually a great time in our business. I don’t necessarily mean that in regards to the markets as some of the worst crashes in history have come in the fall. However, I mean that our clients are more accessible and we end up taking care of things that we may have been putting off for a couple of months. Furthermore, it is usually a great time for new business.

As clients are more attentive to their portfolios, questions arise about how the year will end and what next year will bring. This year has been one where the attention to the portfolios and what will happen next never really slowed down. Aside from the fact that we have a giant hurdle to economic growth with the virus, we also have an election this year in case you haven’t heard. Many have been tempted to sell on the headlines surrounding the election and the virus. The more prudent approach has been and will continue to be to review the risk in your portfolio and make sure you are comfortable with it.

Instead of worrying about the things you can’t control, take in the time with friends and family, soak up the last couple of weeks of sunshine and embrace the new feelings that fall brings.  If you are worried about any of the issues mentioned above, we’re here to talk. In the meantime, we hope you enjoy your Labor Day weekend.


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