Chinese New Year for 2022, the Year of the Tiger, will fall on Tuesday, February 1st and culminate with the Lantern Festival on February 15th. The celebrations will last up to 16 days the first 7 days are public holidays beginning on January 31st. The ground may be trembling as a full 20% of the world’s population will be celebrating using more fireworks than any other day of the year. People celebrate with good food, red envelopes particularly for children, and blessings for everyone.
I learned from a friend that in Vietnam the people go back home to the country for a week. It is a tradition to buy new clothes before the New Year to wear during the festival. They also like to clean the whole house to prepare and welcome the New Year.
We are fortunate that in Portland there is Lunar New Year Lantern viewing at the Lan Su Gardens (Chinese Gardens). Tickets are available for several evenings of viewing. The garden glows with hanging red lanterns illuminating sweeping roof lines and the Lake Zither reflects the lights of dragon and phoenix lantern sculptures. To learn more: https://lansugarden.org
Jennifer Currin Gutridge celebrated a special birthday this week. She has had an outstanding career as a CERTIFIED FINANCIAL PLANNER ™ professional
starting with the McGee team almost thirty years ago when she was still in college. Jenn began her life as the youngest of five with four older brothers in a ranching family in Heppner, Oregon. From cattle ranching to rodeo and high school sports, Jennifer’s childhood was filled with family, community, and friends. The Currin family was inducted in the Pendleton Roundup Hall of Fame. Jennifer and her mother, Judy were both Round-Up Queens. Jennifer and her husband Shane have two children; daughter, Cydney who attends Cal Poly and their son, Kallen who is a varsity athlete for Wilsonville High School basketball and football teams. We wish Jennifer a very healthy, happy, and prosperous year ahead.
Market corrections are never fun, they are roller coaster rides and while they are frustrating and worrisome, they are part of investing over time and they’re a fact of life. We can’t predict them and can’t market time them successfully. Remember these things:
2022 is the year of the tiger. This year, Tigers will encounter their birth sign year and they are expected to face many challenges according to the Chinese Horoscope. They also suggest wearing red underwear and socks to help tigers ward off misfortune though I’m not so sure about this one.
We are grateful for you during good times and challenging ones. Corrections are normal and in fact, can be healthy as money managers review their opportunities and may find favorite holdings on sale. Be sure to let us know any time you need information or guidance.
Judith McGee, L.H.D., CFP®, ChFC®
Executive Vice President and Senior Lead Advisor
There's plenty of economic news to watch for this week. The first estimate of the fourth-quarter 2021 gross domestic product is out. The economy advanced at an annualized rate of 2.3% in the third quarter, well off the 6.7% growth rate in the second quarter. The December figures on personal income and spending are available this week. Personal income rose 0.4% in November, consumer spending advanced 0.6%, while prices for consumer goods and services climbed 0.6% for the month and 5.7% since November 2020. Aside from these important economic reports, all eyes will be focused on the Federal Reserve, which meets this week. It is expected that the Fed will continue to address rising inflation by further reducing stimulus and projecting interest-rate increases beginning this March.
Source: Broadridge Investor Communication Solutions, Inc.
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