Issue link: http://www.insightdigital.biz/i/439904
24 | I NSIGH T • J a n u a r y 2 0 15 w w w . i n s i g h t o n b u s i n e s s . c o m I N S I G H T O N W E A L T H MANAGEMENT B y N i k k i K a l l i o I t's been awhile since the Great Recession pulled the rug out from under the economy, and now it seems to be weaving itself back together: e stock market had a booming year, real estate is bouncing back and unemployment is on its way down. With more confidence out there, what are financial planners advising their clients for 2015? It's really business as usual. Kurt Heling of Alberts & Heling CPAs LLC says he views 2015 with "cautious optimism" for a couple of reasons. "One is 2008-09 is still fairly fresh in people's minds because it hit them really hard," Heling says. "Secondly, in this recovery, the market's been going up. e low point of the market was March of '09, and it's been working its way up since then, so we've had a five-and-half year run. Now people are starting to look at the market and say, 'OK, when's the next crash going to happen and how do we plan for it?'" Heling says if there is another downturn, people shouldn't panic. And at the same time, they should not chase returns. If you've met someone at a holiday party who says he made 40 percent last year and you wonder why you didn't, "It's kind of like that person at the blackjack table or at the slot machine. What are they willing to stick in to win that?" he says. "If somebody made 40 percent in 2014, odds are they're not going to make 40 percent again in 2015. In fact, history says a lot of times those are the first ones to fall back, and fall back hard if there is a downturn." Jim Zuleger, vice president at Baird in Appleton, says every financial plan must be developed individually based on a person's needs and goals. "What is the heart of the matter, Cautious optimism 2015 brings possible growth, but financial leaders don't advise taking big chances How people plan for a crash or market correction, if it happens, really depends on where they are in their careers. "A person in their 40s — they're going to be able to weather that a lot more easily than a person who's 60 or 65 and is on the verge of retirement," Heling says. "We need to have long-term growth within the portfolio, but we also need to be able to sleep at night as well. Finding that balance between fear and greed is the biggest challenge that we try to help people overcome." – J i m Z u l e g e r, v i ce p re s i d e nt o f i nve s t m e nt s at B a i rd, Ap p l e to n