Year-end 2009

On December 31st, we will have completed the first decade of this century and millennium. Think about what we have all experienced in the last 10 years: Y2K without systems collapses; the end of one of the greatest bull markets, two of the four worst markets in history; terrorist attacks on our soil; war in Iraq and Afghanistan; oil prices going through the roof; the acceleration of global warming; the most volatile stock market ever recorded; a deep recession bordering on a depression; the emergence of China as a global economic force; the election of a black President 146 years after the “Emancipation Proclamation;” hedge funds as “alternative investments” and the scandals that followed; the increasing presence of the internet; social media such as Facebook and Twitter; creation of the iPhone; and the list goes on, with an ever accelerating rate of change.

During this decade many people experienced periods of fear at higher than normal levels. Personal safety and the safety of friends and loved ones here and abroad became a real issue in everyday life. The potential collapse of our financial system and the losses in the value of investment accounts caused legitimate fear and concern about our financial futures. The people who have lost their jobs have even more concern than those who have not. Surviving today trumps concern for one’s financial future.

What is the point for those that are “still standing” (physically and financially)? First, is a deep sense of gratitude, for those who sacrificed all, and for all we have: relationships; reasonable means, and possibility. Second, is the importance of perspective. Most people’s plans have not been destroyed, but rather have been delayed, simply needing more time to become “whole.” Those who do not lose “perspective” and patience we will be fine. Adjustments? Yes. Delay? Yes. Destruction? No.

With appreciation for the immense power of the human spirit, WealthStep has made contributions on behalf of our clients to organizations that improve the human condition:
• Heifer International
• Doctors without Borders
• The Blum Center for Developing Economies
• The Foundation for Financial Planning
• Council for Economic Education (K-12)
• Environment California
• SF Chronicle’s Season of Sharing
• Children’s Support League
• Young Entrepreneurs at Haas
• Junior Achievement of Northern California
• Lighthouse Community Charter School
• Escuela Popular Accelerated Family Learning School
• Golden Gate Blues Society
• SF AIDS Foundation

We wish you a very Happy Holiday Season!