A Video Update from D&Y’s CEO and President

During these uncertain times, we understand anxiety may be running high. We are here to let you know that, as our client, we have your back. We are with you to help navigate through these turbulent times. Our CEO and co-founder, Dale Yahnke, and President and Chief Investment Officer, Will Beamer, recently sat down and shared their thoughts on the pandemic, how we are responding as a firm, and the importance of maintaining long-term investment discipline in times of extreme market unrest.     Dale: Hi, my name is Dale Yahnke. I'm the co-founder and CEO of Dowling & Yahnke. I'm joined...
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Maintaining Investment Discipline When Markets are Volatile and Scary

“I became a disciplined investor over 40 years. The virus broke me in 40 days. I’ve survived — and even prospered through — four stock market crashes. But nothing prepared me for this.” So went the title and opening lines of The New York Times writer James Stewart’s March 27th article, in which he describes his personal struggles with sticking to a disciplined investment plan and dealing with unprecedented stock market volatility. As Mr. Stewart states, the first quarter of 2020 shook even the most seasoned investors’ willpower and tested America’s resilience in the face of adversity. In the...
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The SECURE Act of 2019: Significant Changes That May Impact Your Retirement Planning

Happy New Year — and welcome to the new decade! We hope that you had a joyous holiday season surrounded by friends and family. Stocks continued marching upward in the fourth quarter, capping off a stellar decade for equity investors. The S&P 500 Index of large U.S. stocks notched its second-best annual performance since 1997 with a 31.5% total return. Small U.S. stocks followed closely behind with the Russell 2000 Index up 25.5% for the year. Overall, the gains came without much volatility, even amidst ongoing global trade disputes and continued political uncertainty heading into the 2020...
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Mitigating Risk: How Bonds Play a Crucial Role in Your Portfolio

Global equities had mixed performance in the third quarter with large U.S. stocks inching higher and small U.S. stocks falling 2.4%. Foreign stocks struggled in the face of trade negotiations and ongoing tariff disputes. Real estate was a strong performing asset class, rising nearly 6% as interest rates declined, reducing financing costs. As has been the case for much of the year, political headlines remained prominent in the U.S. news cycle as the 2020 presidential election looms on the horizon and an impeachment inquiry got underway. Asset class returns for the quarter and year-to-date were...
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The Efficient-Market Hypothesis & DFA: The Building Blocks for Our Investment Philosophy Since 1991

The United States economy has now been growing for over a decade, making this the longest economic expansion on record. At least for now, the stock market is not being held back by imposed and threatened tariffs, political uncertainty surrounding next year’s presidential election, or fears of a coming recession. Perhaps the market’s resilience stems from more optimistic investors detecting counteracting, less well-publicized, positive forces at work such as relatively strong corporate earnings, muted inflation, low unemployment, and still historically low interest rates. In fact, the 10-year...
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A Year After Tax Reform: Using Roth Conversions Strategically

Following a turbulent end to 2018, financial markets are off to a fast start in 2019.  The U.S. stock market has recouped its December losses with both large and small company stocks making sizeable gains. Foreign stocks rose over 10% in the first quarter but are still clawing their way back from a lackluster 2018.  Quietly, bonds had a stellar quarter (considering the low interest rate environment of the last decade), notching their highest quarterly return since early 2016.   It is a difficult task to identify and quantify the specific causes of any market move, but there are a few...
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Stock Market Volatility Is Back: How Should Long-Term Investors React?

Happy New Year! To say that 2018 was a challenging year for investors would be an understatement. Without question, it was the most volatile year since the 2008-2009 financial crisis. During the fourth quarter, global stock markets collectively struggled, giving back gains made earlier in the year. U.S. stocks experienced one of the most volatile Decembers on record, with the S&P 500 Index moving more than 1% (up or down) ten times during the month. Diversification across equity asset classes yielded little relief with developed foreign, emerging markets, and real estate securities all...
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U.S. Stock Market Continues to Impress, But Diversification Remains Paramount

As the third quarter of 2018 comes to an end, we are reminded that the world is ever-changing, markets are increasingly global, and patient investing remains critical to long-term success.  The key headlines for the third quarter included continued dominance of U.S. stocks, increased strength of the U.S. dollar, rising interest rates, questions about the relationships with our foreign allies and foes, and a plentiful supply of political news.  Although the rise of the U.S. stock market seems impressive (the S&P 500 Index notched its best quarter in nearly five years), it is important to...
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Charitable Giving: How to Optimize Your Contributions in 2018

After a rocky first three months of the year, U.S. stocks rebounded in the second quarter with both large and small company indices posting material gains. Foreign shares did not fare as well, possibly due to the U.S. adopting a more aggressive stance on trade policy, including new tariffs on major trading partners (e.g., China, Europe, Mexico, and Canada). Continued strength in the domestic economy allowed the Federal Reserve to raise short-term interest rates in June for the second time this year. The 10-Year Treasury bond yield, a benchmark for longer-term interest rates, has risen...
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Long Term Portfolio Planning: How Much Can You Safely Withdraw?

After a strong 2017, financial markets took investors on a turbulent ride during the first quarter of 2018. Following its first correction since 2016, the S&P 500 index of large U.S. stocks quickly recouped losses and finished the quarter only slightly negative on a total return basis (‐0.8%). Most major market indices were a bit lower, with the real estate securities index experiencing the largest decline (‐5.8%). The increased volatility was attributed to several economic and geopolitical developments, including the President’s proposed tariffs on China and other U.S. trading partners...
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