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Jason Martin will be leading a Financial Peace University class located at:

Discovery Church
4400 S. Orange Avenue
Orlando, FL  32806

Register here for this location - http://www.daveramsey.com/fpu/locations/org/3739/class/228294/atid/l_ln

Orientation is on Tuesday, February 12th, 7:00-8:30 pm

The course runs every Tuesday for 9 weeks beginning February 19th, 7-8:30pm.  

The direct contact for FPU at Discovery Church is Linda Cyr 407-855-3141 X 137

fpu@discoverychurch.org

Childcare is available.

To find out more about Financial Peace University or to find a course near you go to:  http://www.daveramsey.com/fpu/home/

The post Financial Peace University Course @ Discovery Church appeared first on Allgen Financial Services - Financial Advisors.

2012 was a year that was full of uncertainty from elections, policy, geo-political conflicts, major fiscal problems in Europe, fiscal cliffs in the U.S. and for some people even the thought that the end of the world was coming.  But despite all the uncertainty the markets posted a solid year.  Though the S&P 500 was down for the 4^th quarter all the other major indices were up and for the full year all but the Aggregate bond index posted strong returns.  Our aggressive portfolios slightly underperformed as we maintained a defensive posture in the wake of 2012’s many uncertainties while our conservative and fixed income portfolios outperformed their respective benchmarks.

Although we have overcome much of the uncertainty from the issues that surrounded 2012 there are still some big unknowns in our future that we will need to monitor.  The Fiscal Cliff was partially solved and signed into law on January 2^nd of this year, but it postponed the major budget cuts for two months and the effects of the raised taxes and cuts in spending will need to be monitored.  A low debt service (low percentage of debt payments compared to disposable income) and a strong real estate market in the U.S. have created strength but it hinges on the Fed continuing its easy money policy. We will provide an update on the international and emerging markets.  Finally, the last issue we will take a look at is the stock market’s obstacles from a technical perspective.

Fiscal Cliff – Part 1

The partial passage of the Fiscal Cliff deal, we’ll call this Fiscal Cliff Part 1, was enough to avert falling off the cliff. Part 1 of the Fiscal Cliff focused on the tax law changes but “kicked the can down the road” for the cuts to spending (aka sequester cuts) which will be accompanied by another raising of the U.S. debt ceiling, most likely around the end of February or March.  The passage of Part 1 provided some temporary relief and helped remove some of the uncertainty of excessively higher taxes which in turn caused a sharp rise in the stock market to open the year. Although the administration pitched this deal as only affecting the top 2% of income earners, they did raise the payroll tax 2% which affects all of the working population regardless of income. Click on the links below or go to our website under market commentary to see more about the tax law changes:

http://www.allgenfinancial.com/financialnews/market-commentary/tax-law-changes-for-2013-fiscal-cliff-part-1/

http://www.schwab.com/public/schwab/resource_center/expert_insight/personal_finance/tax/taxes_whats_new_now.html

Fiscal Cliff – Part 2 (Sequestration) Pending Debt Ceiling and Budget Cuts Debate

As of January 2013, Congress was unable to reach agreement on spending cuts, and the sequestration was delayed until March 2013 as part of the American Taxpayer Relief Act of 2012. At the same time the U.S Government has hit its debt ceiling and can’t borrow any more to fund its deficit spending until the debt ceiling is raised. As it stands now, the deficit reduction sequester (budget cuts) is designed to enforce savings of $1.2 trillion through 2021. For 2013 and each year after that, it roughly means a $55 billion cut in defense and a $55 billion cut in non-defense spending.  Democrats are fighting to limit cuts to non-defense spending, while Republicans would prefer to limit the cuts to defense spending while reducing the entitlements of Social Security, Medicare and Medicaid.  Republicans will likely use the debt ceiling as leverage to negotiate a deal to cut spending on entitlements while democrats will most like try to avoid spending cuts (except for defense cuts) and pressure Republicans to avoid default.  If no agreement is reached in March, the sequestration cuts outlined in the fiscal cliff deal are scheduled to go into effect. In the near term, the biggest risk for the economic and market outlook would be a protracted battle on the debt ceiling and/or spending cuts that mirrors what happened in late-summer 2011, particularly if accompanied by a another debt-rating downgrade.

(Source: Charles Schwab “Taking Care of Business, DC-Style, to Avert the Fiscal Cliff”)

(Source: http://www.cnbc.com/id/100378424 “Sequestration – CNBC Explains”)

Underlying Strength of the U.S. (Low Debt Service and Housing)

The U.S. economy has potential for further growth mostly driven by two primary factors: the public’s low debt service and increased household creation which has strengthened the housing market.  One of the successes of the Federal Reserve’s easy money policy is that it has brought down interest rates thereby lowering payments on debt (home loans, car loans, credit cards, etc.).  At the same time the public has been deleveraging since 2009 – leaving the public with less debt and lower payments, and in turn more disposable income available to spend or invest.  The other primary factor for increased economic strength is a strong housing market.   After nearly five years of declines in home prices and a slowdown on home construction, the housing market turned around in 2012 and looks poised for continued improvement.  When the markets crashed in 2008 many Americans lost their home and moved in with family or friends; this decreased the demand (potential buyers) and increased the supply of homes.  These same people who were hurting financially are starting to find jobs and look for houses again at much lower prices. This significant rebound in demand is creating the need for new homes.  Each home that is built in the U.S. on average creates three new jobs.  Currently housing inventory is near record lows (see chart below).  This suggests homebuilding needs to accelerate to meet demand which will help create new jobs, thereby continuing the cycle of economic improvement.

International and Emerging Markets

After large negative returns in 2011 and the first half of 2012 the international and emerging markets are starting to turn around for the better.  Over the last few years Europe has gone through some extreme austerity measures and they have fought to get their fiscal house in order.  During that time there have been recessions, scares of sovereign defaults, rioting and some 11^th hour deals to avoid disaster.  Although Europe has a long way to go in terms of taking care of their fiscal health, we feel that the bulk of the negative news has already been factored into the price and there is potential for their markets to rebound.

Emerging markets have faced a different set of problems.  Most of these countries have maintained strong fiscal fundamentals.  However, their economies have been cooling off as have their housing markets, plus they have had more inflationary pressures than the developed world.  Their stock markets started to decline in late 2010 and most of them stayed in bear markets until mid 2012.  Most of the BRIC countries (Brazil, Russia, India and China) declined over 30% during that time from their high to low.  After declining and consolidating for over 2 years it appears these markets have a better foundation for growth going forward.

Bonds

2012 was an average year for bonds as a whole.  Some areas like Muni, Corporate, High Yield, International and Emerging Market bonds did well while US Government bonds lagged. The fundamentals for bonds remain strong.  Supply is low and demand is strong.  The problem for bonds going forward is that they have already gone up so much that the upside is limited.  Interest rates look to remain low through this year and possibly next with inflation being tame and the Fed continuing to buy US Government bonds, for now.  Going forward the risk is that inflation and rates will start to rise which could cause bond prices to decline, but we don’t see that occurring in the near term.  Opportunities still abound in the bond market but you have to search harder and be more open minded to alternative types of debt instruments like international, emerging market and other less common issues.  In an effort to navigate the risk of potentially higher rates in the future we may need to shorten the duration of our current holdings and possibly add some floating rate bonds that tend to go up with rising interest rates.

Technical Update

The S&P 500 is getting close to testing a major resistance of 1550 (the red and yellow horizontal line in the chart below) which are the previous highs of 2000 and 2007.  A break-out above the 1550 ceiling could leave the door open for a new secular bull trend.  This would bring an end to the 13 year secular bear market that we have been in since 2000.  On the other hand a failed break above that line could lead to the end of the current cyclical bull market that we have been in since 2009.  We will continue to keep a very close eye on this level and give you updates as they occur.  

Where Do We Go From Here?

Major changes are on the horizon and these are exciting times as a money manager and student of the market.  As a country we are finally starting to address our major fiscal problems and although the process is painstakingly slow and frustrating, it is encouraging that we are at least making some small steps in the right direction.  Furthermore, public opinion is starting to favor a fiscally responsible government.  Don’t get me wrong, I’m not excited about the fact that we have trillion dollar deficits, over $16 trillion in debt and a Fed that continues to print trillions of dollars.  It will be interesting to see over the next two months how the Fiscal Cliff Part 2 will be resolved and how serious our government really is at trying to tackle our fiscal problems.  Fortunately, markets look at factors other than just policy decisions and it appears the market believes there are reasons to be bullish in the near term.  A strong housing market rebound accompanied by a reduction in people’s debt expenditure has increased economic momentum and consumer confidence.  At the same time international markets and emerging markets are starting to turn around off of multiple quarters of consolidation which could provide a better foundation to build from and produce greater returns going forward. Though we do not currently detect signs of inflationary pressures or rising interest rates we will continue to monitor these aspects in order to successfully navigate through the bond market.  Technically the market faces a major hurdle trying to get above its long-term resistance.  Our plan over the next two months will be to maintain our defensive posture as we go into the Fiscal Cliff Part 2 negotiations. If these negotiations are similar to 2011’s debt ceiling and budget debate it could increase volatility and potentially cause the market to correct which could allow us to buy into the markets at lower levels and transition out of our defensive posture.  We will continue to stick to our Investment Philosophy of managing risk first in order to avoid major losses and striving to outperform our competition over an entire market cycle net of fees.

Written by:
Jason Martin, CFP®, CMT
Chief Investment Officer
Allgen Financial Services, Inc.
martin@allgenfinancial.com

Important Disclosures:

Blogs, Collateral & Web Site Content:

The information provided here is of a general nature and is not intended to answer any individual’s financial questions. Do not rely on information presented herein to address your individual financial concerns. Your receipt of information from this material does not create a client relationship and the financial privileges inherent therein. If you have a financial question, you should consult an experienced financial advisor. Moreover, the hiring of a financial advisor is an important decision that should not be based solely upon blogs, articles, or advertisements. Before you hire a financial advisor, you should request information about the financial advisor’s qualifications and experiences.  Past performance is no guarantee of future results.

The post 1st Quarter Market Commentary 2013 appeared first on Allgen Financial Services - Financial Advisors.

- The 39.6% income-tax bracket was reinstituted for taxable income greater than $400,000 for single filers and $450,000 for married couples filing jointly. To the extent long-term capital gain or qualified dividend income exceeds the 39.6% threshold, it will be taxed at 20%. The 15% and zero rates for the lower brackets remain intact.

- Though not part of the fiscal-cliff negotiations, keep in mind that because of the new federal health care law, in 2013 single taxpayers with adjusted gross income (AGI) greater than $200,000 and married taxpayers filing jointly with AGI greater than $250,000 will pay a 3.8% Medicare surtax on net investment income over that threshold. They’ll also pay an additional 0.9% Medicare tax on top of the existing 1.45% for earned income over that threshold. Employers will withhold the extra 0.9% for wages greater than $200,000. If you’re married and file jointly, you can claim a credit for any excess withholding on your tax return, if applicable.

-  The old “stealth tax” phase-out of itemized deductions, known as the Pease phase-out (named for the Ohio Congressman who introduced it in the 1990s), and the personal exemption phase-out, known by the acronym PEP, both return for 2013 and beyond. However, the phase-outs start at a higher level than under previous law: for single filers with AGI greater than $250,000 and married filing jointly with AGI greater than $300,000. For every dollar over the threshold, itemized deductions such as mortgage-interest expense, charitable contributions and state and local taxes (but not some other deductions, such as investment interest expense, medical expenses and casualty losses) will be reduced by 3% up to a maximum of 80%. Otherwise, Congress left the deductions for such things as charitable contributions and mortgage-interest expense untouched—at least for now.

- Congress also made the higher Alternative Minimum Tax exemption permanent, retroactive for the 2012 tax year and indexed for inflation thereafter. This was a big deal, because without the exemption, roughly 30 million additional taxpayers would have otherwise faced the AMT.

- A number of other provisions were made permanent, such as the $2,000 annual Coverdell Education Savings Account contribution limit, or at least extended for another year or more, such as the $100,000 IRA direct charitable contribution exemption for those 70½ or older.

- There are the usual inflation-adjusted increases for such things as IRA and 401(k) contributions: for 2013, you can contribute up to $5,500 to your IRA, plus a $1,000 catch-up contribution if you’re 50 or older (even if you turn 50 on the last day of the year), and $17,500 to your 401(k), plus a $5,500 catch-up contribution.

- For gift and estate taxes, the $5 million exemption has been made permanent (adjusted for inflation), with a top rate of 40%. The former exemption was $5.12 million with a top rate of 35%, but without Congressional action it would have reverted to $1 million with a top rate of 55%. Finally, the annual gift exclusion has increased to $14,000 from $13,000.

Estate Taxes

- We have a bit more longer-term clarity on estate taxes, and how you can plan gifts and your estate to take advantage of the latest tax breaks. Congress made permanent the $5 million exemption, adjusted for inflation in future years, which should translate to a $5.25 million exemption for 2013 ($10.5 million for spouses). “Permanent,” of course, only means there’s no more sunset provision built into current law—Congress can always change its mind down the road.

(Source: Charles Schwab “US Economic Strength, Federal Reserve Policy and 2013 Tax Changes”)

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On paper things looked great for the markets as we wrapped up the 3rd quarter.  The S&P 500 was up 6.35%, foreign markets as measured by the MSCI EAFE rebounded and were up 6.92% and emerging markets were up 6.97%.  Even the bond market had a decent return as the Barclays US Aggregate Bond Market was up 1.58%.  Although we and our clients enjoy when the markets go up, there are times when you need to be on guard and now is one of those times.   We believe the underlying fundamentals that would normally drive a sustained bull market (like low unemployment, rising incomes and tame inflation) aren’t present, and the main reasons for the recent rise in the markets are from the steroidal pumping of money by the Federal Reserve and other central banks across the world.  Just like drinking a Frappuccino with a double shot of espresso and whipped cream can provide a short-term stimulating affect on the body, inevitably the sugar and caffeine high turns into a lingering drag and will slow you down.  Similarly, history shows that printing money can provide a short term economic high but the ultimate ramifications are long term hangover.

Stimulus – QE3
One of the objectives of the Federal Reserve’s (FED) Quantitative Easing (QE) is to push up asset prices by lowering yields and making it cheaper to borrow. The FED has created $2 trillion in its QE and “Twist” operations. While not notably successful in other objectives such as creating jobs and improving growth, stock prices have responded to the inflationary aspects of the program. That may be why the market has moved so well since March of 2009, the S&P 500 rising from the 750 area to 1475. And when each of the programs ended (for example in March 2010 and again in June 2011) stock prices peaked and pulled back lower. Quantitative easing version 3.0 (QE3) is due to push into markets.  The FED will generate about $1/2 trillion per year to be used to buy long bonds, while another $1/2 trillion will be generated with the continuation of Operation Twist, buying long bonds while selling short ones. The latest program is projected to result is $85 billion per month demand for long bonds about half comes from money creation.  This new program differs because it doesn’t have an end date, but rather will continue into the indefinite future until the FED in its almighty omnipotence deems it time to stop.  This money creation, in our view, has caused a level of false hope in the FED’s ability to control the markets.  Historically all countries that have tried this have failed.  The biggest similarity is Japan who has been attempting to spur on its economy through quantitative easing on and off for more than 20 years.  Consequently, Japan has been in a bear market for over 22 years since 1990, with both real estate prices and stock prices lower now than they were in 1990.

Corporate Profits – Top Line Growth vs. Bottom Line Growth
The bulls in the market will point out that corporate profits are at an all-time high and, generally speaking, they are right.  But, it should be noted that this isn’t because of the increased demand for companies products or services rather it’s because incomes have stayed nearly the same level for a decade and in some cases even gone down.  Labor costs, relatively speaking, have gone down while revenue (top-line) growth has been stagnant.  In a sustained bull market consumer spending is constantly increasing and creating increased demand for company products and services.  In the current bull market from 2009 until present consumers and companies are deleveraging and cutting spending.  Corporate profits have come from cutting labor and expenses rather than from increased demand which can have a negative effect.  It causes unemployment to increase and consumers to hoard, which has been the case over the last 4 years.

Update on Secular Bear
The chart below gives an update on the secular (long-term) bear market that we are in currently.  The price of the S&P 500 is still below the 2000 and 2007 all-time highs.  As you can see there is a channel formed by the two parallel horizontal lines.  The top of the channel is 1550 and the bottom of the channel is around 750. The current price of the S&P 500 is within 7% of its all-time high and top end of the channel.  This upper end of the channel known as resistance is a very difficult area to surpass.  Think of it as a ceiling that is difficult to break through.  I believe that the market will not make it above this level on this current try and will bounce off of that upper part of the channel and eventually head lower.  I’m not implying that the market crashes and goes back down to the lower end of the channel near the 750 area.  I do believe though that a significant correction is a high probability.  No one truly knows the future, but a successful investor puts the odds in his favor and with such limited upside potential compared to the large downside potential in the market, prudence would dictate that we stay defensively postured.

Fiscal Cliff
Federal Reserve Chairman, Ben Bernanke, recently coined the phrase “Fiscal Cliff” in one of his talks about the economy.  The Fiscal Cliff simply put, is the conundrum that the U.S. Government faces going into 2013 when the “Bush Tax Cuts” are set to expire, significant spending cuts are set to take place from the Budget Control Act of 2011 and the Affordable Care Act (“ObamaCare”) taxes are going to take effect.  Taxes are set to go up significantly for nearly everyone (not just the rich) and government spending will be sharply cut.  If the current laws slated for 2013 go into effect, the impact on the economy could be dramatic. While the combination of higher taxes and spending cuts would reduce the deficit by an estimated $560 billion, the CBO estimates that the policies set to go into effect would cut gross domestic product (GDP) by four percentage points in 2013, sending the economy into a recession. At the same time, it predicts unemployment would rise by almost a full percentage point, with a loss of about two million jobs.  This could cause a downward spiral effect to take place that could feed upon itself because when people lose their jobs they spend less and companies will not have as much demand for their products which will then cause them to lay more people off and so the downward spiral continues.
Source: (http://bonds.about.com/od/Issues-in-the-News/a/What-Is-The-Fiscal-Cliff.htm)

Elections
According to Rasmussen Reports (most experts agree that Rasmussen is the most accurate polling agency) on October 9th Romney and Obama are tied at 48% on a national poll.  The Electoral College Scoreboard shows that Obama is ahead 237 to Romney’s 181 for likely and safe states electoral count but there are 120 electoral points in a Toss-up of which Romney is showing a slight lead.  So as you can see the presidential election is literally anyone’s call.  The Senate Balance of Power looks to be nearly a tie with Democrats having a slight edge possibly ending up with 50-52 seats and Republicans ending up with 50-48 seats.  There is still a month to go and anything can happen before the election. One thing is certain about this election; as of right now, there is uncertainty about who is going to win and typically the stock market doesn’t like uncertainty.

Moving Forward
We live in unprecedented times where trillions of dollars have been created out of thin air and pumped into our economy in the attempt to get it growing again.  Although the U.S. stock market has had a decent run over the last few years, we believe this is a false hope.  Unemployment is still extremely high, the percentage of people that are working compared to the population is at a 30 year low and our GDP growth is just 1.3%.  We face some serious challenges ahead as we go into 2013, navigating and avoiding the “Fiscal Cliff” will be the biggest.  Although this outlook may seem gloomy, we do believe the American people are resilient and always seem to come together and find a way at the most difficult of times.  We believe once we make our way through these uncertainties over the next 3-6 months potentially a foundation will be built and we can have a secular period of sustained growth going forward.

Allgen’s current focus in the 4th Quarter and going forward into 2013 will be on preserving portfolio values by managing all of the above mentioned risks, holding higher levels of cash than normal, safe haven assets (positions that tend to go up if the market drops) and non-cyclical assets when appropriate in order to avoid major losses.  We are always searching for opportunities despite the challenges ahead, but there are times like now, where it is more important to focus on defense rather than taking high risks for low potential returns. As such, proper positioning and timing of when we switch from defense to offense should prove to be of great value for our client’s portfolios into the extended future.

Written by:
Jason Martin, CFP®, CMT
Chief Investment Officer
Allgen Financial Services, Inc.
martin@allgenfinancial.com

Important Disclosures:
Blogs, Collateral & Web Site Content:
The information provided here is of a general nature and is not intended to answer any individual’s financial questions. Do not rely on information presented herein to address your individual financial concerns. Your receipt of information from this material does not create a client relationship and the financial privileges inherent therein. If you have a financial question, you should consult an experienced financial advisor. Moreover, the hiring of a financial advisor is an important decision that should not be based solely upon blogs, articles, or advertisements. Before you hire a financial advisor, you should request information about the financial advisor’s qualifications and experiences.  Past performance is no guarantee of future results.

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Examples provided are for illustrative (or “informational”) purposes only and not intended to be reflective of results you can expect to achieve.  Allgen Financial Services, Inc. (Allgen) is an investment advisor registered with the State of Florida, New York, New Jersey, Texas, Alabama and Ohio. Allgen does not provide personal financial advice via this material. The purpose of this material is limited to the dissemination of general information regarding the services offered by Allgen. It is not intended to be a solicitation or offer to sell investment advisory services to residents of any state in which Allgen is not currently authorized to do so. The Disclosure Brochure, Form ADV Part II, which details the business practices, services offered, and related fees of Allgen’s, is available upon request.

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Jason Martin will be leading a Financial Peace University class located at:

Discovery Church
4400 S. Orange Avenue
Orlando, FL  32806
Register here for this location – http://www.daveramsey.com/fpu/locations/org/3739/class/210484/atid/m_ln

Orientation is on Tuesday, September 11th, 7:00-8:30 pm

The course runs every Tuesday for 9 weeks beginning September 18th, 7-8:30pm.

The direct contact for FPU at Discovery Church is Linda Cyr 407-855-3141 X 137
fpu@discoverychurch.org

Mary Rose will be leading a Financial Peace University class located at:

Mosaic Church
608 West Oakland Avenue
Oakland, FL  34760
Register here for this location – http://www.daveramsey.com/fpu/locations/org/32999/class/214177/atid/m_ln

Orientation is on Sunday, August 26th, 6:00-7:30 pm

The course runs every Sunday for 9 weeks beginning September 9th, 6-7:30pm

The direct contact for FPU at Mosaic Church is Mary Rose – 407-210-3888 or rose@allgenfinancial.com

Childcare is available at both locations.

To find out more about Financial Peace University or to find a course near you go to:  http://www.daveramsey.com/fpu/home/

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The Markets

The first half of 2012 is on the books.  Our beginning of the year defensive posture came into play as equity markets pulled back substantially during the 2nd quarter falling 7.13% (as measured by the Morningstar aggressive equity portfolio).  International markets fared worse as both the EAFE and emerging markets fell 10% and 12% respectively for the quarter.  Fortunately bonds fared better as the Lehman Aggregate Bond Index was up 2.2%.

Rest of the Year Outlook

The rest of the year looks to be volatile as well due to various converging factors.  Below are some of the major issues that we face during the second half of the year:

1) The Debt Ceiling

The debt ceiling will be reached sometime between September and December
The infamous debt ceiling debate will resurge as this country reaches the limits established last year.  The debate this year boils down to 1) which expenses should be cut while increasing the deficit and 2) should we raise taxes.  The challenge to this situation is that nothing fundamental will change during an election year, delaying the inevitable crossroad of having to determine when enough leverage is enough and the tough decisions associated with this determination.  The most likely scenario is that this discussion is delayed until after the election.
Personal and Government debt have each grown faster than the U.S. population over the past 40 years.

2) The National Elections

Recent polls show a virtual coin flip as to who is more likely to win the elections.  In other words, it’s about an even race right now.  This creates policy uncertainty moving forward, in conjunction with the fact that 33 seats will be up for grabs during this year’s Senate election, of which 23 are democratic seats.  Policy uncertainty, in turn, creates financial planning challenges for the business community not knowing how to allocate resources based on impending additional costs due to tax and other policy mandates.

3) Health Care Reform controversy

The Supreme Court upholding Obamacare last week does not bring an end to the healthcare issue but continues the conversation.  Interestingly enough polls show that most Americans are actually against the reform and the law will most likely get repealed if a Republican wins the Presidential election.  All this to say that an issue that has already caused so much controversy will continue to generate dispute and therefore uncertainty.

4) Expiring Bush Tax Reform

With the expiration of the Bush Tax reform come increased taxes for the whole population.  This comes in mainly two forms: 1) marginal tax rates are increased and 2) capital gains and dividend taxes increase.  Whereas the current marginal tax rates range from 10% – 35%….after the expiration, rates will range from 15% – 39.6%.  There will also be an increase in capital gains and dividend rates which actually begin at 0% and cap at 15% currently.  This will change to ranging from 10% to 20%

These, along with uncertainty in the European markets and a slowing of the emerging market economic growth, are a few of the issues that will effect and create volatility in the markets over the next six months.

Yet, regardless of market conditions, Allgen continues forward implementing its philosophy of 1) Strong, fundamental planning (i.e. no debt, sound risk management, tax minimization and cash flow maximization) that should prevail regardless of market conditions and 2) Active money management (targeting loss prevention first) as we look to capitalize upon the market’s downswings.  Such volatile markets require even more careful attention to individual portfolio needs and monitoring being that legislative changes can and will impact the ultimate financial outcome of individuals.

As such, please feel free to contact us if you or any one you know should have any questions or feel that it is time to reevaluate where you are with respect to your financial goals.

* Please join our community on Facebook under Allgen Financial Services, Inc. to get periodic market updates, financial planning education and to communicate with us and other Allgen family members.

DISCLOSURE:
Allgen Financial Services, Inc. (Allgen) is an investment advisor registered with the State of Florida. The above information in no way represents specific advice regarding investments.  In no way is past performance indicative of future performance. Please feel free to contact us with specific questions relating to your financial plan or portfolio. The Disclosure Brochure, Form ADV Part II, which details the business practices, services offered, and related fees of Allgen’s, is available upon request. The information contained herein, including links to third party web sites, has been obtained from sources believed to be reliable, but we do not guarantee its accuracy or completeness.

The post Market Commentary 3rd Quarter 2012 appeared first on Allgen Financial Services - Financial Advisors.

Allgen Financial Services, Inc. is hosting Common Cents Week at Discovery Church this month. Common Cents is an event designed to provide middle school and high school students an opportunity to develop critical lifelong financial skills based on biblical principles. If you live in Central Florida and would like to have your son or daughter mentored by a financial professional on how to properly handle money, this is a great event for them to attend.

Format: Fun & Educational
Dates: July 30th – August 3rd
Time: 9am-12pm
Location: Discovery Church on Orange Ave. (www.discoverychurch.org)
Cost: $50

For more information, please contact Mary Rose at rose@allgenfinancial.com

* Please register for this event by clicking on the Paypal “Pay Now” button below.

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In addition, residents have an opportunity to obtain indispensable job skills at OURM’s recent innovative computer lab which provides Microsoft Office Specialist Certification and IT Certification, opening up endless opportunities for the homeless men and women seeking to enter the competitive workforce.

When: Monday, July 9, 2012

Time: 6:30 pm to 8:00 pm

Where: Orlando Union Rescue Mission’s Family Life Center, 1521 W. Washington St., Orlando, FL  32805

Notes: Interview opportunities available with Jason Martin, Allgen Financial Services

About Orlando Rescue Mission

Founded in 1948, the Orlando Union Rescue Mission is a 501 (c)(3), non-profit Christian organization providing food, shelter, clothing, and rehabilitative programs to destitute and homeless men, women, and children.

###

If you would like more information, please contact Yadira Elrod at (407) 472-0633 or yadira.elrod@ourm.org

The post Orlando Rescue Mission Partners with Allgen Financial to Tackle Homelessness appeared first on Allgen Financial Services - Financial Advisors.