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With the solstice behind us, we have entered a period of warm, sunny days. Gardens and fields are beginning to flourish and efforts from spring planting are showing up around us. In gardening, it can be nice to behold the beauty as each new flower or plant blooms. We might think, “Things are coming up nicely!” Well, who knows where the summer may take us, with the ups and downs of climate, bugs, etc. But at least we have the pleasure of knowing we started early, and our gardens have a better chance of becoming abundant at the end of the growing season. Similarly, there are useful benefits that come from starting early in our financial lives. The process of financial planning helps us decide what we would like to accomplish, and how much time we will need in order to be able to reach our goals. One might think, “I am young, I have plenty of time,” and guess what, you do! Among the benefits of financial planning while you are young is that you have time on your side. As with gardening, little things you do now may grow. Some plants will need to be moved, others pruned. When tended over the years, the (financial) gardens likely will mature into beautiful displays. Someday, I may look back and think, wow, that actually wasn’t hard at all. I think you’ll find that starting early can be a great addition to your routine. Happy Summer! Is it time yet for a plan? --- Ana Koch Economic Update Two main themes seem to capture 2019’s mid-year outlook: hope and fear. After a strong start to the year, financial markets are now being driven by hope for bi-lateral trade deals with key trading partners (like China, Europe and Japan), and also fear that the global economy may slow in the absence of such deals. US stocks continued to rebound in the second quarter of 2019, currently up 10% over prior year. But the outlook for trade worsened since last report. Whereas in early April, a US – China trade deal was “approximately 90% finished,” the month of May had the 10% tariff growing to 25% with even more Chinese goods being added to the tariff list. This change in trade stance led to a global equity market sell-off. International stock markets as reflected in the MSCI All-Country World Index (a proxy for both developed and emerging market stocks) fell more than 6% in May, although the index, together with most global asset classes, remains up year-to-date. The yield on the benchmark 10-year Treasury Note continued to drop in the second quarter as an increasing chorus of voices calling on Federal Reserve policymakers to cut the rate again in 2019 continues to signal a moderation in US growth and a sharper slowdown overseas. Slowing growth and earnings continue to highlight the importance of stock selection. What all this continues to mean for the investor: keep your financial focus on the future. Markets have swings which can be nerve-wracking, so it is important to have a plan and stick to it, understand your investment time horizon, stay balanced in your investments, stay flexible (assure you have adequate liquidity) and continue to invest within your tolerance for risk. Sound familiar?