Jamestowne Investments Spring 2020 Newsletter

a life well planned is a life well lived

The Captain’s Log Spring 2020

This quarter’s newsletter has been exceptionally difficult to prepare and publish. For the past sixty or so days, we have all suffered through an ever-evolving and head-spinning economic, market, and healthcare crisis.

During these difficult months, as soon as it looked as though the investment business may have found some rational stability, the entire situation morphed and once again we found ourselves spiraling into yet another unthinkable abyss. How can we possibly find clarity amid such swiftly changing and grossly unpredictable market and economic carnage? This is new territory for us all, and any prognostications from me trying to explain this topic will in-time certainly prove to only naively summarize the dynamic conditions which have now become our practicing daily norm.

To the best of our collective capacities, we all somewhat understand how we ended up in this combined

healthcare and investment market meltdown conundrum. To take a lesson from the situation, at this point in time, I believe it is both valuable and productive to work towards shedding light on possible forward scenarios, market predictions, and identifying the rays of hope that will ultimately lead us out of this dark tunnel and back towards a more normal social and economic condition.

At the extreme top of my list of reasons to be hopeful rests the certainty that we collectively are The American People. When confronted with a crisis, we as a citizenry have the remarkable ability to prepare, innovate, set differences aside, and feverishly dig our way towards a solution. Our ability to confront a crisis head-on and to plough forward towards a fix is unmatched anywhere on this planet, and this unique cultural peculiarity, when needed most, always finds (continued on page 3)

JAMESTOWNE INVESTMENTS NEWS What’s Inside: A Guide to Investing in Exchange-Traded Products Pearl's Pet Tips The Secure Act Long established retirement rules change How to Build a Charcuterie Board Breathe Life Into Your Investment Strategy

Newsletter Disclosures Securities and advisory services offered through Prospera Financial Services, Inc. Member FINRA, SIPC. 5429 LBJ Freeway, Suite 750, Dallas, TX 75240 This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

Our firm does not provide legal or tax advice. You should consult with legal and tax advisors before making any investment decisions that would have legal/tax consequences.

Investments in securities and insurance products are: NOT FDIC-INSURED/NOT BANK-GUARANTEED/ MAY LOSE VALUE

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A MESSAGE FROM CLAYTON Your Trusted Advisor itself embedded in the genetic makeup of fellow Americans. When our collective-group tenacity is coupled with a capitalist economic system which unrestrictedly supports innovation, our country has a remarkable capacity to engineer our way out of some unthinkably dark places. Test kit production is rapidly ramping up, coast to coast quarantines seem to be keeping the virus contagion isolated, and recent reports of possible vaccines are beginning to show signs of clinical promise. You and I could not live in a more promising time period to quickly tackle, contain, and eliminate such a vial intruder.

My second ray of hope comes from the momentous financial backstop provided by the highly competent and proactive Federal Reserve response team. At the peak of our panic, the Federal Reserve stepped up and immediately provided some much-needed liquidity specifically targeted towards keeping the gears of our economy grinding forward. In a matter of days, our Federal Reserve cut the Fed Funds rate to zero, engaged in an aggressive purchasing of treasuries and mortgage securities, cut the discount rate to 25 basis CLAYTON JAMES points, and loosened restrictions on local, regional, and national FINANCIAL ADVISOR banks giving them the ability to provide the much needed financial support to the many small and local businesses suffering the most through this economic paralysis. But that’s not all! The Fed’s forward statement made it clear that they were preparing to keep rates near zero until the economy has clearly weathered the Coronavirus threat and is back on track to meet the Fed’s long-range targets for both the employment market and inflation.

The third ray of hope comes from what now feels like a distant memory – the undeniable strength of the American economy prior to the Coronavirus outbreak. Prior to this colossal disruption, we were all enjoying the great benefits of one of the strongest and most resilient economies in recorded history. Just a few short weeks ago, unemployment was at historical lows, wages were increasing across all social categories, and opportunity across our country abounded. Did the Virus derail this magnificent economy? Even if the Coronavirus did not completely wreck the expansion, we are now forced to responsibly recalculate our quarterly GDP expectations for the coming twelve to twenty-four-month periods. The first quarter of 2020, now in the books, is sure to prove to be an economically disappointing time period. With the expectations for the quarantines and social isolation mandates to push deep into the second quarter, we logically expect our first half of 2020 economy to contract by as much as 10%. Furthermore, it is a forgone conclusion that we will suffer a significant rise in unemployment during this period to perhaps as much as 30% of our labor force. But then what? The pent-up economic demand, global reacceleration, and undeniable easy monetary policy should intersect together just in time to relaunch our economy and propel us towards a record-breaking conclusion of 2020. Coupled with the rapidly approaching presidential election cycle, it is believed that the combined impact of all of these forces could provide enough economic tailwind to push our expanding GDP cycle through the end of 2021.

The stock market always operates in forward space. In other words, the market is moving today on data looking twelve to eighteen months into the future. Although today the Coronavirus Recession may seem like justification to hide and panic, it is imperative to remember the market may have already moved beyond this crisis. Those who sell now will only regret that they failed to understand Warren Buffett’s timeless sage advice, “Be fearful when others are greedy and greedy when others are fearful”.

Stay Safe and Healthy and I look forward to visiting with you on the other side of this Panic.

Clayton W. James, CFM, AAMS Managing Director / 3

A Guide to Investing in Exchange-Traded Products What you should know before you buy

What Are Exchange-Traded Products?

Exchange-traded products (ETPs) at their core are securities which derive their value from a basket of securities such as stocks, bonds, commodities, or indices, and are traded similar to individual stocks on an exchange. When you purchase an ETP, you are purchasing shares of the overall portfolio, not the actual shares of the underlying investments or index components. ETPs can track a wide variety of sector-specific, country-specific, and broad-market indices. ETPs may provide diversification to your overall portfolio because one share or one unit may represent multiple underlying stocks, bonds and/or other asset classes.

Each ETP seeks to track the market performance of the underlying index that makes up its basket of securities. Although ETPs seek to mirror the performance of a particular index, the relationship between performance of the index or sector and the ETP is not exact because of the fees and trading costs associated with the ETP, as well as the difficulties in exactly mimicking an index.

ETPs Tracking Alternatively Weighted Indices Indexing has continued to expand beyond traditional market capitalization-weighted methods to alternatively weighted strategies, (e.g., using equally weighted, fundamentally weighted, volatility weighted indices). These indices provide exposure to specific investment risk factors or strategies. They generally begin with securities from a broad-based index and apply a set of rules to determine a portfolio of securities believed to provide the greatest potential for capital appreciation, total return, or other investment objective. Products tracking such indices may or may not provide superior risk-adjusted performance relative to products tracking more traditional capitalization weighted indices.

ETPs that track alternatively weighted indices may or may not provide superior risk-adjusted returns when compared to traditional market cap weighted indices. Products tracking these indices may be unfamiliar, moreover, ETPs tracking these indices may be thinly traded and have wide bid ask spreads making these funds more costly to trade, in addition to their generally higher internal expenses. It is uncertain how these products will behave in different market environments. Please see the ETP’s prospectus for details, as well as other characteristics and potential risks.

Features and Characteristics Some key features and characteristics associated with ETPs include:

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Tax efficiency—Traditional ETPs are generally not actively managed and, as a result, typically generate fewer capital gains due to the low turnover of the securities within their portfolio. Taxes must be paid on all distributions made by the underlying securities and any capital gains associated with transactions made by the fund. However, because ETPs offer in-kind redemptions to qualified entities, they can avoid realizing capital gains for the fund although shareholders must still pay any taxes on realized gains. Non-traditional ETPs may not be tax efficient due to the increased amount of portfolio turnover due to periodic rebalancing as well as the use of leverage. If you have questions about the possible tax consequences associated with these funds, you should consult your tax advisor before making any investment decision.

Expense ratios—Management fees and operating expenses are charged by the fund management company to cover the costs associated with management, marketing, and fund administration costs. Fees may vary depending upon the fund manager’s trading activity. ETPs follow a unitary or non-unitary fee structure and expenses may fluctuate over time. Purchases and sales of ETPs are subject to brokerage commissions.

All fees and expenses are described in detail in the prospectus.

Transparency—The securities in the underlying ETP portfolio are made public every day. Since these securities generally trade within an index or sector that the ETP follows, you may be able to determine the positions within the portfolio at any time. You may find this beneficial because the transparency could allow you to have more control over your overall investment portfolio allocation and weightings.

Portfolio diversification (access to wide range of sectors)—ETP portfolios can be diversified across many different securities, offering a set of portfolios for almost every asset allocation need. This diversification can help reduce an investor’s risk by potentially offsetting losses from some securities with gains in others.

Bear in mind, diversification cannot guarantee a profit or protect against loss in a declining market.

Buying and selling flexibility—ETPs are priced and can be purchased and sold throughout the trading day. Furthermore, you can buy or sell ETP shares on a stock exchange much like the purchase or sale of any other listed stock.

Risks Until recently, traditional ETPs have generally not been actively managed. This means that securities in the portfolio will not be purchased or sold in an attempt to take advantage of changing market conditions. A traditional ETP may continue to hold securities even though their market value and dividend yields may have changed. An ETP generally carries the same investment risk as the portfolio of securities that comprises the index tracked within the ETP. Securities in a portfolio may depreciate, and the ETP may not achieve its intended objective. In addition, each ETP is subject to specific risks that vary depending on each ETP’s investment objectives and portfolio composition. (continued on next page)

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Tax Treatment With the exception of ETNs, most ETP shareholders are subject to income taxes on the interest, dividends, and/or capital gains distributed to them from the portfolio. However, in retirement accounts such as individual retirement accounts (IRAs), taxes are deferred until distributions are taken from the account.

Also, when an investor sells the ETP position, he or she will generally realize a taxable gain or loss that should be reported on their income tax returns. To gain certain exposures, a fund may utilize an offshore subsidiary that is wholly-owned by the fund. A change in tax law or regulation could adversely affect the way the fund is taxed, operated, and managed. Nonresident aliens may be subject to special tax withholding and reporting requirements as a result of an ETP sale. Certain ETPs may be subject to the alternative minimum tax (AMT). Shareholders should review the prospectus for further details.

Neither our firm nor your financial professional can offer tax, legal, or accounting advice. As a result of complextax-reporting requirements, investors should consult with their tax professional or attorney before investing in ETPs.

Costs of Investing in ETPs Transaction Fee—You may be assessed a transaction fee for purchases and sales ETPs through our firm.

ETPs offered by our firm may be purchased in an advisory account without a transaction fee. Your financial professional does not receive compensation from the transaction fee.

Spread Costs—ETP transactions are subject to spread costs. The bid/ask spread is the difference between theprice an ETP is offered for purchase (the ask/offer price) and the price an ETP can be sold (the bid price).

In periods of low liquidity (for the underlying securities or the ETP shares themselves), bid/ask spreads may widen considerably which in turn magnifies the cost of the security transaction. As spreads widen, the difference between the ETP Market Price and the ETP’s Net Asset Value may be magnified. Trading ETPs with large spreads can affect potential returns since they affect the price at which an ETP is purchased or sold.

Premium/Discount Risk—The market price of an ETP may trade at a higher price (premium) or lower price (discount) to its NAV. The size of the premium or discount can vary significantly based upon multiple factors, including, but not limited to: 1) demand for the underlying assets; and 2) liquidity of the ETP shares.

Investor Characteristics Suitability—ETPs are not suitable for all investors. Selecting an ETP for your investment objectives involves a number of factors: fund strategies, fund performance history, risks, and investment time horizon.

You should review any ETP’s disclosure document, as well as the fund prospectus, to fully evaluate your options. You should also talk with your financial professional so that, together, you can make the choices suitable for you. Non-traditional ETPs and futures-linked ETPs are suitable only for sophisticated and speculative investors as well as institutional clients who fully understand the complexities of these products and the significant risks that exist in purchasing or trading in them. Non-traditional ETPs and futureslinked ETPs are for individuals who have a high tolerance for risk as well as the ability and willingness to absorb potentially significant losses. An increase in market volatility relative to the level of expected return in the underlying index, commodity, or other related products may negatively impact your expected return.

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Talk with Clayton to Learn More Determining whether ETPs are an appropriate investment strategy for you requires an in-depth evaluation of your individual financial situation and the objectives you want to achieve. Talking with us about how ETPs may help you work toward your investment goals is key.

Diversification—Our firm believes that investors should diversify their investment portfolios. It is recommended that investors observe an asset allocation strategy and not overweigh their overall portfolio in any one class or sector of securities, including the underlying portfolio within an ETP. Although asset allocation can be an effective investment strategy, it cannot eliminate the risk of fluctuating market prices and uncertain returns.

Additional Information can be found on the following websites: Financial Industry Regulatory Authority (FINRA) - finra.org U.S. Securities and Exchange Commission - sec.gov Securities Industry and Financial Markets Association (SIFMA) - sifmaorg

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Each year the ASPCA Animal Poison Control Center examines its data and releases the Top 10 categories of toxins pets come in contact with each year. The data was gleaned from about 213,773 cases of potential animal poisonings examined by the APCC in 2019.

Pearl's Pet Tips

Top 10 Animal Toxins of 2020 Here are the top 10 toxins, beginning with the category which caused the most calls to APCC toxicologists.

1) OTC MEDICATIONS: 19.6% Over-the-counter medications were the most common group of toxicants pets ingested this year, with 41,865 cases reaching the APCC. This is a diverse group of medications including items such as vitamins, OTC pain medications (acetaminophen, ibuprofen and naproxen), herbal supplements, antihistamines and cold and flu medications.

2) HUMAN PRESCRIPTIONS: 17.5% Medications prescribed for people dropped to number two this year with 36,916 of total cases. ADHD medications, antidepressants and heart medications make up a significant amount of these cases. Pet owners should be reminded often to keep all medications out of reach of pets.

3) FOOD: 11.4% Food is number 3 at 24,469 cases. Xylitol, grapes and raisins, and onions and garlic make up most of these cases. Xylitol is a naturally occurring alcohol found in most plant material, including many fruits and vegetables. It is extracted from birch wood to make medicine. Xylitol is widely used as a sugar substitute and in "sugar-free" chewing gums, mints, and other candies.

4) CHOCOLATE: 10.1% Chocolate moved up another spot from last year with 21,635 of APCC cases—working out to almost 60 cases a day! The popularity of chocolate gifts for occasions like Christmas, Valentine’s Day and Easter adds to the danger.

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5) VETERINARY PRODUCTS: 9.3% Flavored medications and misread labels are a big reason pets run into trouble with veterinary products. Make sure you review how to give medication—and all pet owners should be reminded that child-proof does not mean petproof when it comes to containers.

6) HOUSEHOLD ITEMS: 7.3% Household items—which includes items such as paint, glue, and cleaning products—remained at the same position year over year. While not necessarily a tasty group, the proximity of pets and supplies is a common reason for exposure.

7) RODENTICIDES: 6.3% Rodenticide exposure increased last year to 13,391 of APCC’s caseload. Unfortunately, pets along with rodents, find baits very tasty.

While anticoagulants and bromethalin baits are still available, cholecalciferol baits made a comeback this year.

8) INSECTICIDES: 6.2% Insecticide exposure cases decreased for the second year in a row to 13,260. Insecticides includes items such as ant baits, bug sprays and yard products. Ant baits use attractants like peanut butter which unfortunately attract pets as well as ants.

9) PLANTS: 5.5% Plants remained in ninth place with 11,857 of total cases. Indoor and outdoor plants as well as prepared bouquets can present major problems.

10) GARDEN PRODUCTS: 2.3% Garden products also stayed in the same spot this year as last. Fertilizer, bone meal and compost are all garden products many dogs find irresistible. APCC also gets a fair number of calls about herbicides. While not as tasty, herbicides are often used in areas frequented by pets.

The Secure Act

Long-established retirement account rules change.

Giving Children and Grandchildren the Opportunity of a Lifetime The Setting Every Community Up for Retirement Enhancement (SECURE) Act is now law. With it, comes some of the biggest changes to retirement savings law in recent years. While the new rules don’t appear to amount to a massive upheaval, the SECURE Act will require a change in strategy for many Americans. For others, it may reveal new opportunities.

Limits on Stretch IRAs. The legislation “modifies” the required minimum distribution rules in regard to defined contribution plans and Individual Retirement Account (IRA) balances upon the death of the account owner. Under the new rules, distributions to non-spouse beneficiaries are generally required to be distributed by the end of the 10th calendar year following the year of the account owner’s death.1 It’s important to highlight that the new rule does not require the non-spouse beneficiary to take withdrawals during the 10-year period. But all the money must be withdrawn by the end of the 10th calendar year following the inheritance.

A surviving spouse of the IRA owner, disabled or chronically ill individuals, individuals who are not more than 10 years younger than the IRA owner, and child of the IRA owner who has not reached the age of majority may have other minimum distribution requirements.

Let’s say that a person has a hypothetical $1 million IRA. Under the new law, your non-spouse beneficiary may want to consider taking at least $100,000 a year for 10 years regardless of their age. For example, say you are leaving your IRA to a 50-year-old child. They must take all the money from the IRA by the time they reach age 61. Prior to the rule change, a 50-year-old child could “stretch” the money over their expected lifetime, or roughly 30 more years.

IRA Contributions and Distributions. Another major change is the removal of the age limit for traditional IRA contributions. Before the SECURE Act, you were required to stop making contributions at age 70½. Now, you can continue to make contributions as long as you meet the earned-income requirement.2

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Also, as part of the Act, you are mandated to begin taking required minimum distributions (RMDs) from a traditional IRA at age 72, an increase from the prior 70½. Allowing money to remain in a tax-deferred account for an additional 18 months (before needing to take an RMD) may alter some previous projections of your retirement income.2 The SECURE Act’s rule change for RMDs only affects Americans turning 70½ in 2020. For these taxpayers, RMDs will become mandatory at age 72. If you meet this criterion, your first RMD won’t be necessary until April 1 of the year after you reach 72.2 Multiple Employer Retirement Plans for Small Business. In terms of wide-ranging potential, the SECURE Act may offer its biggest change in the realm of multi-employer retirement plans. Previously, multiple employer plans were only open to employers within the same field or sharing some other “common characteristics.” Now, small businesses have the opportunity to buy into larger plans alongside other small businesses, without the prior limitations. This opens small businesses to a much wider field of options.1 Another big change for small business employer plans comes for part-time employees. Before the SECURE Act, these retirement plans were not offered to employees who worked fewer than 1,000 hours in a year.

Now, the door is open for employees who have either worked 1,000 hours in the space of one full year or to those who have worked at least 500 hours per year for three consecutive years.2 While the SECURE Act represents some of the most significant changes we have seen to the laws governing financial saving for retirement, it’s important to remember that these changes have been anticipated for a while now. If you have questions or concerns, contact our office at (757) 941-5150.

Citations.

1 - waysandmeans.house.gov/sites/democrats.waysandmeans.house.gov/files/documents/SECURE%20Act%20section%20by%20section.pdf [12/25/19] 2 - marketwatch.com/story/with-president-trumps-signature-the-secure-act-is-passed-here-are-the-most-important-things-to-know-2019-12-21 [12/25/19]

Thank You

For Your Referrals Currently we service about 250 households at Jamestowne Investments. We are appreciative of your referrals. Our family helping your family and your friends is the greatest compliment you can give us. Thank you for your trust in us.

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How to Build a The Platter

First, choose a board, tray, or platter to be your foundation. Wood and marble are popular charcuterie board material choices because they are sturdy and beautiful. The shape is simply a matter of preference, though you should take the elements of your board into account when making your selections. For example, a rectangular board may better accommodate long, leafy vegetable stems or cheese wedges than a squareshape one. We designed this rectangular 20x12-inch board to feed about 10 people. Bear in mind: The larger the board, the more money you'll spend to fill it up. If you want to keep your budget in check, fill large boards out with more produce or opt for a smaller one.

The Dishes

Dishes create structure on the board. Use little bowls and cups to anchor the arrangement and help contain loose items like dips, nuts, and olives. Raid your kitchen cabinets for salt cellars, small candy dishes, and ramekins. What you have on hand is perfect—they don't need to match!

The Cheeses

If your budget and location allow it, go to a local cheese shop for unique, high-quality cheeses. As a rule of thumb, include three to five cheeses in these basic categories: a hard cheese, a soft cheese, and a blue cheese.

Contrasting flavors and textures diversify the board and give guests a broader range of options to sample. If you aren't sure what to buy, ask the store for pairing recommendations.

The Meats Include a few varieties of thinly sliced cured meats. Lay them flat or arrange them in loose rolls so they're easy for guests to pick up and nibble on. You can also include harder meats that guests can cut themselves, like smoked sausages and salamis, and a spreadable meat like pâté (chicken or duck liver). Some popular charcuterie meats include guanciale, pancetta, hard salami, prosciutto, and mortadella.

The Crackers

Crackers, breadsticks, breads. You'll want to include a few starchy sidekicks, especially if your board includes soft, spreadable cheeses and jams. There's no hard-and-fast rule here, though we recommend offering two

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Charcuterie Board types of crackers or breads with different flavor profiles. If someone on your guest list has gluten sensitivity, consider subbing in a nut-based cracker option.

The Produce

Fruits and veggies add color and freshness to a charcuterie or meat and cheese board. They're also a tasty contrast to rich, salty meats and cheeses. When planning which items to include, consider foods that can be eaten whole or cut into slices. Buy in-season produce for the best flavors.

Building a Charcuterie Board: Where Do I Start?

Though there are many easy charcuterie board ideas out there, the process is somewhat formulaic. Start by adding structure with little dishes, then place your ingredients on the board starting with the largest elements like the cheeses and meats, followed by smaller items like crackers and fresh produce. ENJOY!

You Can Count On Us We are prepared to work with you and your attorney to develop and implement your estate plan, which may include a revocable living trust.

Breathe Life Into Your Investment Strategy THE ENVSION PROCESS®

Personalize Your Investment Plan “Investment planning” too often boils down to cookie-cutter investment mixes and generalized guesswork regarding your financial needs. It’s better than nothing, but it’s impersonal and vague.

That’s why the Envision process helps you plan your investments around benchmarks and life events that hold real meaning for you. The process can connect you to your investment strategy in a refreshing, revealing, and personal way. Even better, it can help you answer that most critical of financial questions, “How am I doing?”

The Envision process offers you and your financial professional the tools and technology you need to discuss your life expectations, decide on an appropriate investment strategy, track your progress, and update your approach whenever necessary.

It All Starts With You The Envision process’ interactive approach can help you identify: •Where you are now financially •Where you want to go •How you plan to get there Your Envision plan will take the following into account: • Life goals • Education goals • Assets • Liabilities

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• Cash-flow requirements • Retirement needs • Levels of acceptable investment risk • Asset allocation objectives This allows your financial professional to help you strategically allocate your portfolio based on your needs and situation.* Envision Priority Cards can help you clarify your financial goals and prioritize your objectives. * Asset allocation cannot eliminate the risk of fluctuating prices and uncertain returns.1

Your Personal Benchmark: “The Dot” The centerpiece of your Envision plan is a personalized benchmark called “the dot.” Instead of tracking your portfolio’s performance against a major standardized index, such as the S&P 500®, your financial professional uses the dot to monitor your progress toward achieving your life and financial goals.

While tracking an index lets you gauge market trends and relative performance, what’s more important is how well your investments are helping you work toward achieving your life goals. Your financial professional can update you on your dot’s progress as frequently as you want and you can check in on it online.

The Envision process also offers you the flexibility to adjust your priorities, if necessary, based on fluctuating market conditions or life-changing events.

Tracking Progress and Minimizing Risk Envision technology uses a powerful statistical modeling technique to help confirm you are in the “Target Zone” to achieve your life goals, without unduly sacrificing your current lifestyle or being exposed to unnecessary risk.

When your personal benchmark moves out of the Target Zone or your goals change, your financial professional can help you put your plan back on target. When it involves modifying savings rates, reallocating assets, or any other financial adjustment, you’ll have an opportunity to discuss your new approach with your financial professional. (continued on next page)

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Putting the Pieces Together Below is a checklist of items to help with the Envision process. When building your plan, Jamestowne Investments completes a thorough assessment of the below items, tracking changes throughout the investment relationship.

☑ Personal information (such as primary and secondary addresses, date of birth, income) ☑ Retirement goals (what is ideal, what is acceptable) ☑ Social Security Benefits (these may or may not be calculated into your plan) ☑ Other goals (weddings, education, travel) ☑ Other income (beyond employment) ☑ Account summary and future savings (financial accounts in place) ☑ Insurance policies (including those beyond life insurance, such as long-term care) ☑ Other assets (such as business assets, rental properties, or automobiles) ☑ Other liabilities (such as mortgages or loans)

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The Envision tool uses Monte Carlo simulations, which are based on historical and hypothetical information; there is no guarantee that investments will perform in accordance with the simulated trials.

The Envision process lets you and your financial professional look at your profile on a regular basis and make sure that you are staying on track. Keeping your dot within the Target Zone helps ensure you’re working toward your goals without making undue sacrifices or taking unnecessary risk.

Will You Have Enough?

The Envision process gives you and your financial professional the flexibility to adjust your plan to account for any of life’s changes, such as: •Increasing medical costs •Getting married or divorced •Helping a child or grandchild afford higher education •Caring for an elderly parent •Starting a second career •Inheriting money or other assets •Paying for an unexpected expense When things change, simply contact your financial professional to ensure that your Envision profile keeps pace with your life.

Find the Best Way Forward Contact us today to schedule a confidential meeting to discuss your life goals and put the Envision process to work for you.

We’ll be with you every step of the way.

IMPORTANT: The projections or other information generated by our Envision process regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results.

Results may vary with each use and over time.

ENVISION METHODOLOGY: Based on accepted statistical methods, the Envision tool uses a simulation model to test your ideal, acceptable, and recommended investment plans. The simulation model uses assumptions about inflation, financial market returns, and the relationships among these variables. These assumptions were derived from analysis of historical data. Using Monte Carlo simulation the Envision tool simulates 1,000 different potential outcomes over a lifetime of investing varying historical risk, return, and correlation amongst the assets. Some of these scenarios will assume strong financial market returns, similar to the best periods of history for investors. Others will be similar to the worst periods in investing history. Most scenarios will fall somewhere in between.

Elements of the Envision presentations and simulation results are under license from Wealthcare Capital Management, LLC. © 2003-2019 Wealthcare Capital Management, LLC. All rights reserved. Wealthcare Capital Management, LLC is a separate entity and is not directly affiliated with First Clearing.

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