“The Grinch thought of something he hadn't before.
Maybe Christmas, he thought doesn't come from a store.
Maybe Christmas, perhaps means a little bit more!"
- How the Grinch Stole Christmas (1966)
Happy Holidays Everyone,
The end of one year and the start of another inspire us to reflect, remember, and begin planning anew. This is a busy time of year for your Mercer Advisors team as we wrap up projects and have year-end client meetings. All while we wrap presents and plan family celebrations.
Although 2021 has been another challenging year marked by historical events and continued disruption to our work and home lives, it has also been a year of success and continued learning for all of us. Just one year ago McGee Wealth Management became a part of Mercer Advisors. It was a bumpy start as we were wrestling with COVID-19 restrictions and working remotely with our local and national teams. We are grateful that we were welcomed so warmly by our Mercer Advisors leadership and fellow advisors. A special thank you to all of you who have worked with us as we were going through our transition. In 2022 we will have completed all the software modifications and will continue to learn even more. We are excited to grow as a very important Mercer Advisors office in our region.
“True Love” - The 12 Days of Christmas
- courtesy of J.P. Morgan Asset Management
“This year’s holiday season has seen consumers return to in-person stores after a bah-humbug 2020. However, businesses have struggled to keep shelves stocked and online shoppers have been met with long delivery times and items on backorder—a nightmare before Christmas. Not only has it been hard to get presents, but also the cost of those items has increased. Consumer inflation rose by 8.1% over two years ago in November and another timely inflation gauge, PNC’s Christmas Price Index, is also up 5.7% relative to pre-pandemic levels. PNC applies its own analysis to track the prices of the gifts for “True Love” from The 12 Days of Christmas song and this year’s reading highlights several themes in the economy. Live music performance has finally returned but the cost of it has increased, with the price of 11 pipers piping up 7.1% vs. 2019. Workers have seen the largest wage hikes in decades, but the wage gap prevails. Ten lords-a-leaping are making more this year while ladies dancing saw no wage increase. High costs for food and labor have sent prices for birds higher, with large spikes in the prices of six geese-a-laying and two turtle doves. The good news for True Love is that the price for gold rings has only increased by a moderate 9%. Further, while turtle dove inflation is near record levels, demand should cool in 2022 as central banks shift more hawkish. All told, treating your true love may be more expensive but Americans at least have more money in their pockets and plenty to celebrate this holiday season.”
Here it is, the true cost of the 12 Days of Christmas 2019-2021
A Tribute to Winnie
Last week our dear friend and client, Winnie, passed from this life to another. She was one of the delights of my life having selected me as her financial planner in Spokane, Washington in 1986 after analyzing my handwriting saying that I would be an open and caring person to work with. Winnie and I had a real connection. Over our time together I attended holidays at her home, funerals and weddings and of course major birthday parties. She was 98 and had lived life full out. She traveled the world lecturing on handwriting analysis on cruise ships. She’d discovered she could get free travel for two doing this. She’d been an English teacher at Eastern Washington University and loved writing her Limerick newsletters every year. The world was a better place because of her and she is missed.
– Fynnigan and Riley Hunt (grandchildren) sending holiday cheer. As we wind up 2021, we know that the year ahead will have its own surprises and challenges for all of us. For whatever is ahead in 2022, may you find the best in life and like our friend, Winnie, find laughter and fun along the way.
Judith McGee, L.H.D., CFP®, ChFC®
Executive Vice President and Senior Lead Advisor
In consideration of the Christmas-New Year holidays next week, several important economic reports are available this week. The final report on third-quarter gross domestic product is available this week. The economy advanced at an annualized rate of 2.1%, according to the second estimate. November data on sales of new and existing homes is also out this week. October proved to be a good month for the housing sector, although residential sales may curtail a bit in November. The personal income and outlays report is also out, albeit a week earlier than normal. According to the previous report, prices at the consumer level have risen 5.0% for the 12 months ended in October.
Source: Broadridge Investor Communication Solutions, Inc.
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