YOUR FINANCIAL FUTURE
YOUR FINANCIAL FUTUREYour Guide to Life PlanningAugust 2015In This IssueUpcoming EventsUpcoming Events in the Twin CitiesPositive QuotesLuther J. Hagen CFP, MarkReichowInfinity Wealth AlliancePresident & Wealth Advisor14811 Energy WayApple Valley, MN 55124952-431-2224Fax: Positive quotes for the week of August 3Weekly Market Commentary Week of August 3, 2015We expect another quarterly earnings gain in the second quarter despite the drags from oiland the U.S. dollar.
2Your Guide to Life PlanningUpcoming EventsUpcoming Sport EventsAugust8/7/15 - St. Paul Saints8/8/15 - MN United8/8/15 - St. Paul Saints8/9/15 - St. Paul Saints8/9/15 - MN Lynx8/9/15 - MN Vikings (preseason)8/10/15 - St. Paul Saints8/11/15 - MN Lynx8/11/15 - MN Twins8/12/15 - MN Twins8/13/15 - MN Twins8/14/15 - MN Twins8/15/15 - MN Twins8/15/15 - MN Vikings (preseason)8/15/15 - U of M - Women's Soccer8/16/15 - MN Twins8/17/15 - WWE Monday Night RAW8/18/15 - St. Paul Saints8/19/15 - MN Lynx8/19/15 - St. Paul Saints8/20/15 - St. Paul Saints8/21/15 - St. Paul Saints8/21/15 - U of M - Women's Soccer8/22/15 - St. Paul Saints8/22/15 - MN Vikings (preseason)8/23/15 - St. Paul Saints8/23/15 - U of M - Women's Soccer8/28/15 - MN Twins8/29/15 - MN Twins8/30/15 - MN Twins8/30/15 - MN LynxSeptember9/1/15 - MN Twins9/2/15 - MN Twins9/3/15 - MN Twins9/3/15 - U of M - Football9/4/15 - MN Lynx9/4/15 - U of M - Women's CC9/5/15 - St. Paul Saints9/6/15 - MN Lynx9/6/15 - St. Paul Saints9/7/15 - St. Paul Saints9/8/15 - MN Lynx9/9/15 - St. Paul Saints9/10/15 - St. Paul Saints911/15 - U of M - Women's Soccer, Women's Volleyball & Women's CC9/12/15 - U of M - Women's Volleyball9/13/15 - U of M - Women's Soccer & Men's Golf9/14/15 - MN Twins
3Your Guide to Life Planning9/14/15 - U of M - Men's & Women's Golf9/15/15 - MN Twins9/15/15 - U of M - Women's Golf9/16/15 - MN Twins9/17/15 - MN Twins9/18/15 - MN Twins9/18/15 - St. Paul Saints9/19/15 - MN Twins9/19/15 - St. Paul Saints9/19/15 - U of M - Football9/20/15 - MN Twins9/20/15 - St. Paul Saints9/20/15 - MN Vikings9/21/15 - St. Paul Saints9/22/15 - MN Twins9/22/15 - St. Paul Saints9/23/15 - MN Twins9/23/15 - St. Paul Saints9/24/15 - MN Twins9/25/15 - U of M - Women's Soccer & Women's Tennis9/26/15 - U of M - Football (homecoming), Women's CC & Women's Tennis9/27/15 - MN Vikings9/27/15 - U of M - Women's Soccer & Women's Tennis9/30/15 - U of M - Women's VolleyballUpcoming Performance and Art EventsAugust8/1/15-8/9/15 - Barefoot in the Park - Lakeville Area Arts Center8/1/15 - 10/24/15 - Mary Poppins - Chanhassen Dinner Theatres8/4/15 - 8/16/15 - Pirates of Penzance - Ordway Music Theatre8/7/15 - Diane Krall - Orpheum Theatre8/14/15 - 9/13/15 - Hairspray - Artistry - Bloomington Center for the Arts8/14/15 - 8/15/15 - EltonSongs: 1970-1976 - Chanhassen Dinner Theatres8/14/15 - 8/15/15 - Sleeping Beauty: Prairie Fire Children's Theatre - Lakeville Area Arts Center8/7/15 - WWE Monday Night RAW - Target Center8/22/15 - Foo Fighters - Xcel Center8/27/15 - Def Leppard with Styx & Tesla - Minnesota State Fair Grandstand8/27 - 29/15 - Rumors & Dreams: The Music of Fleetwood Mac - Chanhassen Dinner Theatres8/28/15 - Keith Urban with Kelsea Ballerini - Minnesota State Fair Grandstand8/29/15 - Carrie Underwood with Native Run - Minnesota State Fair Grandstand8/30/15 - Alan Jackson with Brandy Clark - Minnesota State Fair Grandstand8/31/15 - Happy Together Tour 2015 - Minnesota State Fair GrandstandSeptember9/1/15 - Meghan Trainor with Olivia Somerlyn & Who Is Fancy - Minnesota State Fair Grandstand9/2/15 - Patti Labelle with the Commodores - Minnesota State Fair Grandstand9/3/15 - Lynyrd Skynyrd with Collective Soul - Minnesota State Fair Grandstand9/4/15 - A Prairie Home Companion with Garrison Keillor - Minnesota State Fair Grandstand9/4/15 - Justin Hayward - Ames Center (Burnsville Performing Arts Center)9/5/15 - The Avett Brothers with Preservation Hall Jazz Band - Minnesota State Fair Grandstand9/6/15 - Minnesota State Fair Amateur Talent Contest Finals - Minnesota State Fair Grandstand9/7/15 - Merle Haggard & Kris Kristofferson with Sturgill Simpson - Minnesota State FairGrandstand9/8/15 - 9/13/15 - Rodgers & Hammerstein's Cinderella - Orpheum Theatre, State Theatre, Pantages
4Your Guide to Life PlanningTheatre & New Century Theatre9/11 - 13/15 - Country Roads: Dennis Curley Sings the Music of John Denver - Chanhassen DinnerTheatres9/11 - 12/15 - Osmo Vänskä & the Minnesota Orchestra with Audra McDonald - Orchestra Hall9/11 - 13/15 - Taylor Swift - Xcel Energy Center9/12/15 - The Andrews Sisters: Music and Memories - Chanhassen Dinner Theatres9/15/15 - Ed Sheeran - Xcel Energy Center9/18/15 - 10/4/15 - All My Sons - Artistry - Bloomington Center for the Arts9/18/15 - New Century Sessions: Farewell Milwaukee, Fathom Lane & Actual Wolf - New CenturyTheatre9/19/15 - 2015-16 Season Sampler Concert - Orchestra Hall9/19/15 - Bobby Caldwell - Pantages Theatre9/19/15 - John Prine - Orpheum Theatre9/21/15 - The Ivey Awards - State Theatre9/22/15 - Emmylou Harris & Rodney Crowell: The Traveling Kind Tour - State Theatre9/23 - 26/15 - Takin' It to The Limit: A Tribute to the Eagles - Chanhassen Dinner Theatres9/24/15 - Ballet Folklórico de México de Amalia Hernández - Pantages Theatre9/24/15 - 11/15/15 - The Realish Housewives of Edina: A Parody - New Century Theatre9/25/15 - 10/17/15 - The Rocky Horror Show - Ames Center (Burnsville Performing Arts Center)9/26/15 - Envision Fall 2015 - Orchestra Hall9/26/15 - Monroe Crossing - Artistry - Bloomington Center for the Arts9/26/15 - Shania Twain with Gavin DeGraw - Target Center9/28/15 - Ryder Cup Year to Go presents An Evening with the Captains - Orpheum Theatre9/29/15 - Mark Knopfler - Orpheum TheatreTo Order Tickets:Ames Center (Burnsville Performing Arts Center) - www.ames-center.comArtistry - Bloomington Center for the Arts -www.btaacmn.orgGopher Sports - www.gophersports.comLakeville Area Arts Center - www.ci.lakevill.mn.usMinnesota Orchestra -www.minnesotaorchestra.orgMinnesota State Fair Grandstand - d.htmlMinnesota Swarm - www.mnswarm.comMinnesota Wild - www.wild.nhl.comMinnesota MN Vikings - www.MN Vikings.comOrdway - www.ordway.orgOrpheum Theatre, State Theatre, Pantages Theatre & New Century Theatre www.hennepintheatretrust.orgRosemount Area Arts Council - www.rosemountarts.comSt. Paul Saints - www.saintsbaseball.comTarget Center - www.targetcenterTimberwolves - www.nba.comTwins Baseball - www.twinsbaseball.comXcel Center - www.xcelenergycenter.comTracking #: 1-408131
5Your Guide to Life PlanningPositive QuotesThe key to winning is to be brilliant at the basics. - Vince LombardiGod gives every bird its food, but He doesn't throw it into its nest. - J.G. HollandDon't tell me the sky's the limit when there are footprints on the moon. - Paul BrandtYou can't have a million-dollar dream with a minimum wage work ethic. - Stephen HoganHappiness is a state of mind. It's just according to the way you look at things. - Walt DisneyTracking #: 1-399907
6Your Guide to Life PlanningWeekly Market Commentary Week of August 3, 2015KEY TAKEAWAYSWe expect another quarterly earnings gain in the second quarter despite the drags from oil and the U.S.dollar.Improved global growth, lower energy costs, and effective cost controls have supported overall results.Although forward estimates have edged lower, we continue to expect earnings growth to accelerateduring the second half of the year.EARNINGS UPDATE: CORPORATE RESILIENCEOnce again, earnings season highlights corporate America's resilience. Investors were braced for an earningsdecline in the second quarter of 2015 but will almost certainly end up with another quarterly earnings gaindespite the significant drags from the oil downturn and strong U.S. dollar, largely thanks to effective costcontrols that have propped up profit margins. With more than two-thirds of S&P 500 companies havingreported second quarter 2015 results, we provide an earnings update.SOLID PERFORMANCE (EX-ENERGY)With 70% of S&P 500 companies having reported as of July 31, 2015, the S&P 500 is on track to produceanother year-over-year earnings gain. The average upside surprise of 5% thus far positions the S&P 500 todeliver a 2% increase when all results are in (same as the first quarter result), a good number compared withrecent trends. The earnings "beat rate" of 72% is five points above the first quarter of 2015 and six points abovethe three-year average. Revenue results have been more mixed, with the revenue beat rate at 50%, six pointsabove last quarter but five points below the three-year average.Second quarter's earnings performance is particularly impressive when removing the energy sector's expectednearly 60% year-over-year decline. Excluding energy, S&P 500 earnings growth is tracking to 8-9% [Figure 1],an excellent growth rate, especially considering that the strong U.S. dollar is also dragging down S&P 500earnings, though not by quite as much (estimated 3-4%). Company results (outside of the energy sector) havebeen supported by improved global growth, lower energy costs, and effective cost controls.The upside to earnings estimates is coming primarily from these sectors:Healthcare. The healthcare sector has produced the biggest upside to prior estimates among allsectors thus far (tracking to 10.9% versus prior estimate of 4.1%) driven by pharmaceuticals, biotech,and medical technology. The sector, which remains one of our favorites, continues to benefit fromstrong drug development trends and the increasing number of insured patients under the AffordableCare Act.Financials. Solid loan growth (particularly business loans), a steeper yield curve (which helps netinterest margins, a key source of bank profits), low default rates, healthy merger and equity tradingactivity, and more progress resolving legacy regulatory costs all helped drive solid earnings growth
7Your Guide to Life Planning(20%) and upside to expectations for financials.Consumer discretionary. Lower prices at the pump relative to a year ago, a housing market thatgained steam during the second quarter, and rapid growth in the internet retail sector helped drivesolid upside in consumer discretionary earnings during the second quarter.Energy. Sharply lower oil prices have driven energy sector earnings down significantly. However, oilprices rose from the first quarter of 2015 to the second quarter, helping the sector thus far producesolid revenue upside, which has led to better than expected earnings. The refining business continuesto be a relative bright spot.LIMITED OVERSEAS DISRUPTIONAs we wrote in our earnings season preview on July 13, 2015, we did not expect Greece-related weakness inEurope or severe stock market volatility in China to have a meaningful impact on earnings. That has largelybeen the case, although several industrial companies with larger exposure to China have cited some demandweakness there, contributing to the lack of earnings upside produced by industrials. Industrials have also beenhurt by commodity sensitivity and global reach, leading to a disproportionate impact from the strong dollar.A few companies have cited weakness in Europe but they have been few and far between. One retailer citedcurrency volatility as an issue, while a cruise line mentioned macroeconomic challenges in Europe. Most largecap companies have cited healthy activity in Europe that was generally in-line with or better than previousexpectations. The limited reduction in forward 12-month estimates for the S&P 500 (-0.6% versus thelong-term average of -2%) since earnings season began and the favorable trend in global economic dataprovide evidence that the environment overseas has not deteriorated meaningfully since the end of the firstquarter.MARGINS ARE THE STORYWith earnings on pace for a modest gain and revenue tracking toward an approximate 3% year-over-yeardecline, the story this quarter is again strong profit margins. As shown in Figure 2, excluding the energy sector,corporate profit margins are at more than 10-year highs and have ticked higher in recent quarters despiterepeated calls from many market pundits for margin contraction. There are many drivers of improvedprofitability (excluding the energy sector), including low commodity prices, low borrowing costs, low wageinflation, and corporate efficiency partly through broader deployment of technology. Share buybacks continueto provide a boost as well.Click here for Figure 2, "Corporate Profitability on the Upswing."RESILIENT GUIDANCEWe thought that earnings estimates had a reasonable chance to increase during this earnings season based onprior estimate reductions and the improving global macroeconomic environment. With 70% of companieshaving reported, we are very close, with only a 0.6% reduction to the forward 12-month estimates. Thisreduction in estimates is smaller than those observed in recent quarters (2-3%) and reflects corporateresilience in the face of significant headwinds. We continue to expect earnings to accelerate during the secondhalf of the year, driven by potentially better U.S. and overseas economic growth, solid profit margins, benefitsfrom lower energy costs, and smaller drags from the U.S. dollar and energy.CONCLUSIONCorporate America has again shown its resilience during the second quarter earnings season. Investors werebraced for an earnings decline but will almost certainly end up with another gain, despite significant dragsfrom the energy downturn and strong dollar. Looking ahead, although forward estimates have edged lower, wecontinue to expect earnings to accelerate during the second half of the year.Earnings figures may vary depending on the source (Thomson, FactSet, Bloomberg, etc.). Data providershave different methodologies for calculating S&P 500 earnings, and different interpretations of whatconstitutes operating earnings as compared with reported (GAAP) earnings.IMPORTANT DISCLOSURESThe opinions voiced in this material are for general information only and are not intended to provide specificadvice or recommendations for any individual. To determine which investment(s) may be appropriate foryou, consult your financial advisor prior to investing. All performance referenced is historical and is noguarantee of future results.The economic forecasts set forth in the presentation may not develop as predicted and there can be noguarantee that strategies promoted will be successful.Investing in stock includes numerous specific risks including: the fluctuation of dividend, loss of principal,and potential liquidity of the investment in a falling market.
8Your Guide to Life PlanningInvesting in foreign and emerging markets securities involves special additional risks. These risks include,but are not limited to, currency risk, geopolitical risk, and risk associated with varying accountingstandards. Investing in emerging markets may accentuate these risks.INDEX DESCRIPTIONSThe Standard & Poor’s 500 Index is a capitalization-weighted index of 500 stocks designed to measureperformance of the broad domestic economy through changes in the aggregate market value of 500 stocksrepresenting all major industries.DEFINITIONSGlobal Industry Classification Standard (GICS) is a standardized classification system for equities developedjointly by Morgan Stanley Capital International (MSCI) and Standard & Poor’s. The GICS methodology isused by the MSCI indexes, which include domestic and international stocks, as well as by a large portion ofthe professional investment management community. The GICS hierarchy begins with 10 sectors and isfollowed by 24 industry groups, 67 industries and 147 sub-industries. Each stock that is classified will have acoding at all four of these levels. The 10 GIC Sectors are as follows: energy, materials, industrials, consumerdiscretionary, consumer staples, healthcare, financials, information technology, telecommunication services,and utilities.This research material has been prepared by LPL Financial.To the extent you are receiving investment advice from a separately registered independent investmentadvisor, please note that LPL Financial is not an affiliate of and makes no representation with respect tosuch entity.Not FDIC or NCUA/NCUSIF Insured No Bank or Credit Union Guarantee May Lose Value NotGuaranteed by Any Government Agency Not a Bank/Credit Union DepositTracking #1-406521 (Exp. 08/16)
The opinions voiced in this material are for general information only and are not intended to provide specificadvice or recommendations for any individual. To determine which investment(s) may be appropriate foryou, consult your financial advisor prior to investing. All performance referenced is historical and is noguarantee of future results. All indices are unmanaged and cannot be invested into directly.LPL Financial, Member FINRA/SIPCThis newsletter was created using Newsletter OnDemand, powered by Wealth Management Systems Inc.
9/1/15 - Meghan Trainor with Olivia Somerlyn & Who Is Fancy - Minnesota State Fair Grandstand 9/2/15 - Patti Labelle with the Commodores - Minnesota State Fair Grandstand 9/3/15 - Lynyrd Skynyrd with Collective Soul - Minnesota State Fair Grandstand 9/4/15 - A Prairie Home Companion with Garrison Keillor - Minnesota State Fair Grandstand
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SAVINGS FITNESS: A GUIDE TO YOUR MONEY AND YOUR FINANCIAL FUTURE. 3. YOUR SAVINGS FITNESS DREAM. Getting Fit Managing Your Financial Life It starts with a dream, the dream of a secure retirement. Yet like many people you may wonder how you can achieve that dream when so many other financial issues have priority.
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These six steps will help you map your financial future: 1. Discovery - Identify and prioritize your financial goals 2. Data Gathering - Collect facts and figures based on your current situation 3. Analyze - Input data and run calculations and identify shortfalls 4. Recommend - Propose a financial strategy designed to satisfy your goals 5.
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