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Articles by Alan & Akemi

The Prediction Business

This is the time of year when pundits come out of the woodwork to announce their financial predictions for the year. They claim to know the future accurately, and purport to have a track record to prove it. It's an attractive and easy proposition for many investors to follow this advice, especially when there is confusion and uncertainty in the market. Everyone wants to

protect against unexpected risks, and accomplish their family's most important goals.

The unfortunate truth about the crystal ball is that it doesn't exist. If it did, there would always be some investors who are ahead of the market, buy just ahead of rallies, and sell just before downturns. They would be billionaires, and have great stories to tell at cocktail parties.

 

FACT-CHECKING

The reality is that many of the pundits work at think tanks, or sell their advice by subscription to investors. If their prognostications actually worked, they probably wouldn't have to pull a salary at a think tank, or depend on payments from their subscribers.

As an example, David Stockman is an American politician and former businessman who served as a Republican U.S. Representative from the state of Michigan and as the Director of the Office of Management and Budget under President Ronald Reagan. He is relentlessly bearish.  Following the 2016 tax law, he predicted a downturn as steep as 70%. However, the S&P 500 rallied 13% in that year. He also forecast crashes in 2012, 2013, 2014, 2015, 2017, and 2018. He is predicting another downturn now for 2019.¹

 

GREED AND FEAR

Investors should be cautious because many gurus play on greed or fear. A good example is the frenzy over bitcoin investments last year. Bitcoins are a "cryptocurrency" created by Satoshi Nakamoto back in 2009. It is a digital currency that is completely unregulated and completely decentralized. New units of bitcoins are generated by the computational solution of mathematical problems, and operate independently of a central bank.

In January 2018, each bitcoin was valued at $14,207². Pantera Capital predicted that bitcoin would be selling for $20,000 by the end of the year. Kay Van-Peterson, Global Macro-Strategist at Saxo Bank, projected that bitcoins would be worth $100,000 by the end of 2018.³  Some grandmas were emptying their savings accounts to buy bitcoins. Now the bitcoin is worth $3,500, despite predictions of limitless wealth.

 

THE SHUTDOWN

The current government shutdown is making everyone nervous. Soothsayers are working overtime guessing when and how it will end, and how it will affect the market. The ZeroHedge website reminds us that there have been 20 government shutdowns since October 1, 1976.⁴

The following data show the average impact of a government shutdown on the Standard & Poors 500 index:

* 47% of the time, the market didn't go down at all

* In the 2 weeks during and after the shutdown, on average the market went down 0.13%

* Then, in the month after the shutdown, the average gain in the market was a positive 0.25%

 

CONCLUSION

No one likes increased volatility or a government shutdown, but this is not a time to search for magic solutions or submit to panic. One way to improve your portfolio is not to put all your eggs in one basket, for example relying solely on U.S. large company stocks. A globally-diversified portfolio spreads your investment into asset classes that include U.S. large, medium and small companies, global large, medium and small companies, short-maturity bonds, emerging markets, real estate and gold. It's unlikely that all of these asset classes will go down at the same time, and the diversification will help to reduce volatility during uncertain times.

 

¹ www. cnbc.com

² cointelegraph.com/bitcoin-price-index

³ ritholtz.com/2018/12/fun-with-forecasting-2018-edition/

⁴ www.zerohedge.com/sites/default/files/inline-images/19%20govt%20shutdowns.png?itok=UIGSm3fB

 

This commentary on this website reflects the personal opinions, viewpoints and analyses of the Kondo Wealth Advisors, Inc.  employees providing such comments, and should not be regarded as a description of advisory services provided by Kondo Wealth Advisors, Inc.  or performance returns of any Kondo Wealth Advisors, Inc.  Investments client. The views reflected in the commentary are subject to change at any time without notice. Nothing on this website constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Kondo Wealth Advisors, Inc. manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.

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2018 Investment Market Recap

In 2018, the nearly 10-year bull market finally came to an end. For the first time since 2008, we experienced a bear market, or a 20% decline off the S&P 500’s all-time market high on September 20, 2018.

 

It was a strange investment year. This is the first time since 1948 that the S&P 500 index rose in the first three quarters and then finished the year in the red. During the first three quarters of 2018, large US companies earned profits of about 25% over the prior year, due mostly to President Trump’s corporate income tax cut (from 35% to 21%). However, the year ended poorly across the board. Christmas Eve marked the worst decline in the history of the Dow Jones Industrial Average. The S&P 500 index registered the worst December performance since 1931. In very narrow investment pools, the declines were even steeper. Cryptocurrency Bitcoins, which are an entirely-made-up currency, and not backed by any government or pool of assets, dropped in value from a high of $20,000 per "coin" down to $3,800.

 

Many have commented that last year was extremely volatile. The stock market swung from positive to negative territory by hundreds of points in a matter of hours. Much of the recent volatility is due to automated trading which is triggered by algorithms, or preset parameters, which dictate when a computer is to buy or sell equity positions. One automated trade can cause a sector of the market to cross a threshold, which prompts another automated trade that can set off a domino effect. The speed and magnitude of the machine-driven trading is often amplified, as much of the algorithmic trading is programmed to sell more as prices drop. According to JP Morgan Chase, 85% of today’s trading volume is driven by computers or auto-trading. In other words, volatility is here to stay. Automated trading became commonplace in the market around 2013. 2018’s bear market was the first time the algorithms were tested in a declining market. 

 

A further breakdown of the investment market shows that just about every asset sector dropped in 2018. The S&P 500 index of large company stocks lost 13.97% during the year’s fourth quarter and finished down 6.24% in 2018. The Russell Midcap index finished the 2018 calendar year down 9.06%, and the Wilshire U.S. Small-Cap index was hit hardest, losing 19.67% in the fourth quarter, ending the year with a negative 10.84% return. The darlings of the US market, tech stocks, had a hard year, especially FAANG stocks: Facebook, Apple, Amazon, Netflix and Alphabet's Google. The technology-heavy Nasdaq Composite Index dropped 17.54% in the final three months of the year, to finish down 3.88% for the year.

 

The international investment scene was even poorer. The broad-based EAFE index (Europe, Australasia and Far East) of companies in developed foreign economies lost 12.86% in the fourth quarter, and ended the year down 16.14% in US dollars.  EAFE EM or Emerging Market stocks of less developed countries, lost 7.85% in US dollars in the fourth quarter, and lost 16.64% for the year.

 

Real estate equities were down also. The Wilshire US REIT index posted a 6.93% loss during the fourth quarter, finishing the year down 4.84%. 

 

In 2018, interest rates rose 0.25% every quarter, bringing the 10-year Treasury bonds returns to 2.68%. In a rising interest rate environment, bonds tend to lose value, and they did so last year. Many prudent investors integrate a portion of both bonds and stocks inside their investment portfolio as bonds and stocks tend to perform conversely, giving you downside protection. However, 2018 created the unusual situation of concurrent losses in bond and stock investments in the same year. 

 

In summary, all 15 investment asset classes, except for cash, posted losses for the 2018 year. Circumstantially, the current 20% market declines pales in comparison with the 86% drop in the 1930s, or the 57% drop from 2007 to early 2009. However, it is still never pleasant to see your net worth shrink over a year.

 

Many investment professionals had been expecting a bear market much sooner than this. On average, the market cycles every 3.5 years, meaning the market reaches a peak, contracts down to a trough, and then expands upward to a new market peak every 3 to 4 years. Due to the Great Recession in 2008, it took 4 years for the market to make up losses. From 2012 through 2017, the US economy had an expanded growth period, which often follows a large market decline like the Great Recession. Thus, 2018 was perhaps, the beginning of a “normal” market cycle.

 

The good news is the stock market loves predictability and “normal”.  There have been 32 normal market cycles since 1900. The bad news is there is no indication that we are at the end of the current down cycle. With the government shutdown, numerous trade wars, a quickly growing federal budget deficit, political uncertainty and headlines of historical market declines, investors are understandably nervous about the near-term future. Longer-term, a recession may be the biggest concern. Most economists are reluctant to predict an economic downturn when corporate profits and economic figures have been so strong. Yet, there have been indications of softening and overall negative consumer sentiment in the market.

 

No one can predict whether the markets will recover in 2019 or experience a steeper decline. What we do know is that all bear markets in history have been temporary. Investors who rebalance their portfolios on a regular basis--that is, realigning the weightings inside your portfolio to a preset target to provide long-term portfolio stability--tend to do better than investors who don't rebalance, and especially better than the investors who lose their nerve and sell in a panic during the downturn.

By all measures, the U.S. economy is still strong, albeit slowing. Therefore, cashing out

while the market is down due to a normal market cycle is not a sound long-term investment strategy. Most stock market gains and losses are concentrated into just a few trading days. Statistics show that a market-timer sitting in cash, waiting for the “right time” to buy back into the market will have a 45% lower return if they miss just the best 5 trading days during a 20-year investment window, compared to an investor who adheres to a disciplined investment approach. In other words, a sounder and safer investment strategy would be to hang on tight when the roller coaster reaches a peak and takes us down a steep slope for a bit. If you feel your portfolio needs review, reach out to your financial advisor for a second opinion. A sound financial plan and a long-term view of goals and objectives can be the best offset for short-term market turbulence. 

This commentary on this website reflects the personal opinions, viewpoints and analyses of the Kondo Wealth Advisors, Inc.  employees providing such comments, and should not be regarded as a description of advisory services provided by Kondo Wealth Advisors, Inc.  or performance returns of any Kondo Wealth Advisors, Inc.  Investments client. The views reflected in the commentary are subject to change at any time without notice. Nothing on this website constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Kondo Wealth Advisors, Inc. manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.

 

Sources:

  • http://www.wilshire.com/Indexes/calculator/
  • http://www.ftse.com/products/indices/russell-us 
  • http://www.standardandpoors.com/indices/sp-500/en/us/?indexId=spusa-500-usduf--p-us-l--
  • http://quotes.morningstar.com/indexquote/quote.html?t=COMP
  • http://www.nasdaq.com/markets/indices/nasdaq-total-returns.aspx
  • https://www.msci.com/end-of-day-data-search
  • http://www.bloomberg.com/markets/rates-bonds/government-bonds/us/
  • http://www.bloomberg.com/markets/rates-bonds/corporate-bonds/
  • https://www.wsj.com/articles/behind-the-market-swoon-the-herdlike-behavior-of-computerized-trading-11545785641
  • https://www.ifa.com/12steps/step4/missing_the_best_and_worst_days/
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A Wild Ride

Although the market in the last few months has felt like a ride on the Wild Mouse, it is important to remember that the ride comes to an end. You may be safer by ignoring the churning in your stomach and sitting tight, rather than to trying to jump off.

What is the biggest danger to your long-term investment results?  If you answered “market downturns” or “downside volatility,” you are not only missing a bigger danger, you may be missing the way investment markets work.

If we look back at the history of the stock market, there have been many market setbacks since 1896. Yet, the overall trajectory of the market has been a fairly steady rise. As long as you did not panic and sell everything at the bottom of the market, the recovery time from the Great Recession of 2008 and 2009 was just six years.¹

 

Wild ride chart

(View full chart at www.marketwatch.com/story/the-dows-tumultuous-120-year-history-in-one-chart-2017-03-23)

The longest recovery times in modern history—25 years during the Great Depression, and 16 years during the stagflation period of the 1970s—are also the only times when someone with a time horizon of more than 10 years would have seen a loss after hanging in for the full decade.

Fortunately, time is on your side. Even if you are close to retirement, statistics show that the average American is going to spend 25 to 30 years in retirement², plenty of time to recover from the average downturn or recession. Staying out of the market could expose you to a much greater risk -- because of much longer life expectancies than our parents' generation, many people will need the long-term growth of the market in order not to run out of money in retirement.

What is a bigger danger than a downturn or recession? Investment experts talk about a human failing called “policy abandonment.” This is a fancy way of saying that the investor bailed out on the markets, generally at the wrong time. Suffering a significant decline in the Great Recession was temporarily painful, but what about the people who abandoned their portfolio allocations and retreated to cash at or near the bottom, because they just got too nervous about what the market would do the next day or the day after? They locked in those losses, moved to the sidelines and found themselves with permanent—rather than temporary—portfolio losses.

The lesson of the chart, as its author Chris Kacher points out, is that the stock market is long-term driven by the intelligence, creativity, innovation and hard work that people working in various companies put into their jobs every day. The value of companies tends to rise, but fear sometimes makes people sell their stock at lower prices which, up to now, have always recovered to reflect that growing value.

The current market volatility is nothing compared with the Great Recession, the Great Depression—or, probably, the next significant bear market, whenever it comes. That next downturn will present us with the illusion of danger (a temporary market decline). Do not trade the illusion of danger with an embrace of real danger— “policy abandonment” -- that makes temporary losses permanent.

This commentary on this website reflects the personal opinions, viewpoints and analyses of the Kondo Wealth Advisors, Inc.  employees providing such comments, and should not be regarded as a description of advisory services provided by Kondo Wealth Advisors, Inc.  or performance returns of any Kondo Wealth Advisors, Inc.  Investments client. The views reflected in the commentary are subject to change at any time without notice. Nothing on this website constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Kondo Wealth Advisors, Inc. manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.

¹ www.marketwatch.com/story/the-dows-tumultuous-120-year-history-in-one-chart-2017-03-23

² www.forbes.com/sites/simonmoore/2018/04/24/how-long-will-your-retirement-last/#6f07e2fd7472

 

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Year-End Planning

It’s hard to believe that we’re nearing the end of 2018. The year-end presents a unique opportunity to review your overall personal financial situation.  With factors like tax reform, life changes or just working towards your goals, now is an especially important time to evaluate things. The following are some ideas you might want to consider before the year ends. 

Income Tax Planning – Ensure you are implementing tax reduction strategies like maximizing your retirement plan contributions, tax gain/loss harvesting in portfolios and making adjustments for the new Tax Cuts and Jobs Act.   

  • Each dollar contributed to your retirement plan (i.e.: IRA, 401K 403B) is a dollar reduction in your taxable income for the year.  This can be a powerful tax savings tool immediately, and provides tax deferred growth for years to come.
  • Many investors experienced volatility in their portfolios this year, which may present opportunities for tax-loss harvesting, or selling investments at a loss, which can be offset against an equivalent amount of capital gains or up to $3,000 of ordinary income.
  • If you have low income this year (below $38,600 for single taxpayers or $77,200 for joint filers), you may want to consider taking advantage of the 0% tax bracket for long-term capital gains by harvesting some capital gains before year-end.
  • It may be prudent to check with your CPA before the year is over to see if there are adjustments you should make given the new tax law such as taking advantage of new benefits or adjusting for tax deductions no longer allowed.   

Charitable Giving – There are many ways to be tax efficient when making charitable gifts. For example, donating appreciated stock could make sense in order to avoid paying capital gains taxes. Further, you may want to consider “bunching” charitable deductions, or grouping several years of future donations together at one time by contributing to a donor advised fund, set up by you. The bunching strategy may allow you to qualify for tax itemization in a year you might not otherwise meet the higher threshold under the new tax law.  Utilizing bunching, you’ll receive an immediate tax deduction for the year you make the contribution to the donor advised fund.  However, you can donate from the donor advised fund anytime, allowing you to keep your annual gifting consistent, if that is important to your church or temple, for example.  

Estate Planning – Be sure that your estate planning documents are up to date – not just your will, but also your power of attorney, health care documents, and any trust agreements – and that the beneficiary designations are in line with your desires. If you have recently been through a significant life event such as marriage, divorce or the death of a spouse, this is especially important right now. It may be useful to take an overall review of your estate and review how each asset would be passed on and how the current tax law would impact you. 

Investment Strategy– Recently, we’ve seen increased market volatility and it may feel uncomfortable.  Market declines are a natural part of investing, and understanding the importance of maintaining discipline during these times is imperative. Regular portfolio rebalancing will allow you to maintain the appropriate amount of risk in your portfolio. If you are retired and living off your portfolio, you also want to maintain an appropriate cash reserve to cover living expenses for a certain period of time so that you do not have to sell equities in a down market and lock in losses.

Retirement Planning – Whether you expect a typical full retirement or something different, determining an appropriate balance between spending and saving, both now and in the future, is important. There are many options available for saving for retirement and it is important to understand which option is best for you.  You may want to employ a strategy of contributing to your employer sponsored work plan, a Roth IRA and an after-tax savings vehicle in different percentages depending on the goals for each savings bucket.  

Cash Flow Planning– Review your 2018 spending and plan ahead for next year. Understanding your cash flow needs is an important aspect of determining if you have sufficient assets to meet your goals.  If you are retired, it is particularly important to maintain a tax efficient withdrawal strategy to cover your spending needs. If you have not yet reached age 70.5, it is prudent to ensure you are making tax-efficient withdrawal decisions.  If you are over age 70.5 make sure you are taking your required minimum distributions (RMDs) because the IRS penalties are significant if you don’t. Remember, you can donate your RMD via a Qualified Charitable Distribution (QCD) if you want to avoid having the RMD increase your taxable income which could affect other things like Medicare premiums or social security tax rates to name a few.

Risk Management – It is always a good idea to periodically review your insurance coverages in various areas. Recent catastrophic events like hurricanes and wildfires serve as a powerful reminder to make sure your property insurance coverage is right for your needs. If you are in a Federal disaster area, there are additional steps necessary to recover what you can and explore the tax treatment of casualty losses. Other areas of risk management that may need to be revisited include life and disability insurance.

Education Funding – Funding education costs for children or grandchildren is important to many people.  While the increase in college costs have slowed some lately, this is still a major expense for most families. It is important to know the many different ways you can save for education to determine the optimal strategy. Often, funding a 529 plan comes with tax benefits, so making contributions before the end of the year is key.  With the added flexibility of utilizing 529 savings funds early for k-12 years (set at a $10,000 limit), 529 accounts become even more advantageous.

Elder Planning – There are many financial planning elements to consider as you age, and it is important to consider these things before it’s too late. Having a plan as to who will handle your financial affairs should you suffer cognitive decline is critical.  Making sure your spouse and/or family understands your plans will help reduce future family conflicts and ensure your wishes are considered.

The decisions you make each year with your personal finances will have a lasting impact. Be sure to reach out to your CPA and Financial Planner early to put plans to action and get timely feedback.  We wish you a safe and happy holiday season. 

This commentary on this website reflects the personal opinions, viewpoints and analyses of the Kondo Wealth Advisors, Inc.  employees providing such comments, and should not be regarded as a description of advisory services provided by Kondo Wealth Advisors, Inc.  or performance returns of any Kondo Wealth Advisors, Inc.  Investments client. The views reflected in the commentary are subject to change at any time without notice. Nothing on this website constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Kondo Wealth Advisors, Inc. manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.

 

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2019 Inflation and Social Security Adjustments

Annually, the US government adjusts various investment and benefit thresholds based on the inflation rate.  Inflation, or the rising of prices that we pay for goods and services, can directly affect the standard of living for retirees on a set income. Given inflation has been relatively low during the last 10 years, most of the annual adjustments to benefit thresholds have been small.  However, below are some of the changes to come in 2019.

Tax-Deferred Savings Thresholds

The contribution limit, or maximum amount that can be contributed, to 401k, 403b, most 457 plans, and the federal government’s Thrift Savings Plan (TSP) will rise from $18,500 to $19,000 in 2019[i].  Employees age 50 and older will continue to be able to contribute an additional $6,000 as a ‘catch-up’ provision.  However, the catch-up contribution limit did not increase between 2018 and 2019.

The IRS also raised the contribution limit for IRA accounts for the first time in six years!  Starting in 2019, the contribution limit will increase from $5,500 to $6,000.  The catch-up contribution for IRAs of $1,000 was also unchanged between 2018 and 2019.

Traditional IRA contributions are tax-free (you get a deduction on your tax return) if you aren’t eligible to contribute to an employer-sponsored retirement plan.  If you are contributing to an employer-sponsored plan, the deduction for making a contribution is phased out starting at $64,000 in income as a single tax filer or $103,000 if married filing jointly.  It may be beneficial to check with your CPA whether an IRA or Roth IRA is better suited to you given your income and investment goals.

Roth IRA contributions are also now capped at $6,000, but your ability to contribute phases out completely at $137,000 of income for single tax filers or $203,000 for married filing jointly tax filers.

Social Security Adjustments

Annually, in mid-October the Social Security Administration determines what Cost of Living Adjustment (COLA) will be made to benefits in the coming year.  This is immensely important for millions of Americans who depend upon social security benefits to help provide them with retirement income.  Some good news to share is that social security beneficiaries will receive their biggest cost of living adjustment in seven years!  In 2019, the COLA will increase benefits by 2.8% over last year. For the average social security recipient, that amounts to an increase of approximately $39 a month or $468 a year.[ii]  In 2019, a retired worker reaching full retirement age would receive a maximum of $2,861 a month—an increase of $73 a month, or $876 a year.[iii]

The age that the Social Security Administration defines as “full retirement age” will also increase by two months, to 66 years and six months for people who will turn 62 in 2019.  The full retirement age will increase in 2-month increments over the next two years until it reaches age 67 for everyone born in 1960 or later.[iv] 

Given social security benefits and their annual inflation factors are modest, it is important for those still in their working years to take advantage of the higher savings thresholds available.  It can be difficult to save given the high cost of living and rising cost of goods and services.  My father, Alan Kondo, CFP® often quoted the saying, “pay yourself first.” In other words, route a set amount of each paycheck directly to your retirement savings account before you receive your paycheck.  In such a way, you are paying yourself before you start paying your monthly living expenses and discretionary purchases. 

The decisions you make each year with your personal finances will have a lasting impact. Be sure to reach out to your CPA and Financial Planner for help implementing your savings plans or as a financial sounding board. 

This commentary on this website reflects the personal opinions, viewpoints and analyses of the Kondo Wealth Advisors, Inc.  employees providing such comments, and should not be regarded as a description of advisory services provided by Kondo Wealth Advisors, Inc.  or performance returns of any Kondo Wealth Advisors, Inc.  Investments client. The views reflected in the commentary are subject to change at any time without notice. Nothing on this website constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Kondo Wealth Advisors, Inc. manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.


[i] https://www.irs.gov/newsroom/401k-contribution-limit-increases-to-19000-for-2019-ira-limit-increases-to-6000

[ii] https://www.aarp.org/retirement/social-security/info-2018/new-cola-benefit-2019.html

[iii] https://money.usnews.com/money/retirement/articles/social-security-changes-coming-next-year

[iv] https://money.usnews.com/money/retirement/articles/social-security-changes-coming-next-year

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EDUCATIONAL WORKSHOPS

2019 SCHEDULE 

YOUR 2019 INVESTMENT STRATEGY

Saturday, March 16, 2019

9:00 a.m. - 11:00 a.m.

South Pasadena Public Library Community Room**

1115 El Centro St.

South Pasadena, CA  91030

**This activity is not sponsored by the City of South Pasadena or the South Pasadena Public Library

 

YOUR 2019 INVESTMENT STRATEGY

Saturday, March 23, 2019

9:00 a.m. - 11:00 a.m.

Ken Nakaoka Center*

1670 W. 162nd St.,

Gardena, CA  90247

*not sponsored by the City of Gardena

 

HELP YOUR CHILDREN WITH FINANCES

Saturday, May 4, 2019

9:00 a.m. - 11:00 a.m.

Ken Nakaoka Center*

1670 W. 162nd St.,

Gardena, CA  90247

*Not sponsored by the City of Gardena

 

HELP YOUR CHILDREN WITH FINANCES

Saturday, May 11, 2019

9:00 a.m. - 11:00 a.m.

South Pasadena Public Library Community Room**

1115 El Centro St.,

South Pasadena, CA  91030

**This activity is not sponsored by the City of South Pasadena or the South Pasadena Public Library

 

YOUR RETIREMENT CHECKLIST AND LTC/LI HYBRIDS

Saturday, July 13, 2019

9:00 a.m. - 11:00 a.m.

Kondo Wealth Advisors Pasadena Office (tentative)

300 N. Lake Ave. Suite 920

Pasadena, CA  91101

 

YOUR RETIREMENT CHECKLIST AND LTC/LI HYBRIDS

Saturday, July 20, 2019

9:00 a.m. - 11:00 a.m.

Ken Nakaoka Center*

1670 W. 162nd St.,

Gardena, CA  90247

*not sponsored by the City of Gardena

 

INVESTING AFTER AGE 70.5 AND RMDs

Saturday, September 7, 2019

9:00 a.m. - 11:00 a.m.

South Pasadena Public Library Community Room**

1115 El Centro St.

South Pasadena, CA  91030

**This activity is not sponsored by the City of South Pasadena or the South Pasadena Public Library

 

INVESTING AFTER AGE 70.5 AND RMDs

Saturday, September 14, 2019

9:00 a.m. - 11:00 a.m.

Ken Nakaoka Center*

1670 W. 162nd St.,

Gardena, CA  90247

*not sponsored by the City of Gardena

 

 

Contact Us

300 North Lake Avenue, Suite 920
Pasadena, California 91101
Phone: (626) 449-7783
Fax: (626) 449-7785
Email: info@kondowealthadvisors.com

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