Last month, I wrote about the large swings in the market – we’ve seen lots of lows, and lots of highs, but for all that movement, the market remained flat. Not much has changed today. The market hasn’t gained much. The good news is that we’re not down, but unfortunately, a flat market means we’re not making anything either.
But let’s look forward to the summer months. Traditionally, investors sell in May and go away, so the market is lightly traded during the summer months with activity picking back up in September. But I’m not always one to follow the trends. Last year, for example, we didn’t sit on the sidelines and our portfolios performed quite well in the period of May through August 2013. We’ll remain active in the market again this summer.
On the tax and accounting side of the business, this year we saw more fraudulent returns filed by scammer and criminals than ever before. All someone needs to file a fraudulent return is your name and social security number. If they file before you and receive their refund (which the IRS turns around within two weeks – not enough time to catch it if it’s fraud), your return will be kicked back with the message that you’ve already filed. We’re hopeful that the IRS will put safeguards in place to stop this abuse.
Finally, just a reminder that our annual golf tournament to benefit Just Because We Care will be held on June 9th at Bogey Hills Country Club. This is our major fundraiser of the year which helps us provide food for the growing number of children in our school in Honduras. We invite you to join us for the tournament as it’s always a great time. If you don’t golf, you can still join in on the fun! Dinner and oral and silent auction will begin around 5:00, with tickets at $40 each. We’re also in need of sponsorships and auction items, and appreciate your help and support. Please contact Peggyann for more information.
Enjoy the wonderful May weather. Until next time, stay healthy, wealthy and wise, and certainly, stay tuned.
Wamhoff Financial Planning & Accounting