Dear Friends,

We hope this edition of our newsletter finds you well and filled with some fresh hope as we turn our attention to the New Year. The continued challenges in our world are well documented. However, we celebrate all we have learned and overcome during this season. We continue to remind each other that there are always reasons to be thankful. At the top of our list is the privilege of partnering with you on your financial journey!

This newsletter includes a detailed market review of 2021, which ended up being another year of strong returns across most asset categories. The start of 2022 has shown some reversals of the upward trends we’ve experienced during the past three years. We certainly have potential headwinds to overcome going forward (Covid, rising interest rates, inflation, labor shortages, supply chain issues, etc.). We would not be surprised by a more significant stock market correction, along with downward volatility, if for no other reason than recent returns have been lofty and unsustainable.

Against this challenging backdrop, however, we are optimistic about the future. Our long-term investment horizon and portfolio rebalancing allow us to take advantage of market adjustments and invest in areas that we believe will prosper over the coming years.

We hope and pray for many beautiful moments for you and your families in 2022,
The IFS Team