AW Update – Dec 16 – Market Selloff, Tesla Stock, Inherited IRA Rules
Ankerstar Wealth Stock Market Update

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THIS PRESENTATION WAS PRODUCED BY STEVEN ANKERSTAR, MANAGING MEMBER OF ANKERSTAR WEALTH LLC. THIS UPDATE DOES NOT CONSTITUTE AN OFFER TO SELL, OR A SOLICITATION OF AN OFFER TO BUY, AN INTEREST IN ANY JURISDICTION IN WHICH IT IS UNLAWFUL TO MAKE SUCH AN OFFER OR SOLICITATION. NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY OTHER FEDERAL, STATE, OR FOREIGN AGENCY HAS APPROVED AN INVESTMENT IN THE COMPANY. FURTHERMORE, THE FOREGOING AUTHORITIES HAVE NOT CONFIRMED THE ACCURACY OR DETERMINED THE ADEQUACY OF THIS OVERVIEW. IT IS THE RESPONSIBILITY OF ANY PERSON OR ENTITY WISHING TO PURCHASE AN INTEREST TO SATISFY HIMSELF, HERSELF, OR ITSELF AS TO THE FULL OBSERVANCE OF THE LAWS OF ANY RELEVANT TERRITORY IN CONNECTION WITH ANY SUCH PURCHASE, INCLUDING OBTAINING ANY REQUIRED GOVERNMENTAL OR OTHER CONSENTS OR OBSERVING ANY OTHER APPLICABLE FORMALITIES.

THE INFORMATION SET FORTH IN THIS UPDATE DOES NOT PURPORT TO BE COMPLETE AND NO OBLIGATION TO UPDATE OR OTHERWISE REVISE SUCH INFORMATION IS BEING ASSUMED. A PROSPECTIVE INVESTOR MUST RELY SOLELY ON THE TERMS OF, AND DISCLOSURE OF INFORMATION IN THE COMPANY’S GOVERNING DOCUMENTS.

IN CONSIDERING THE PRIOR PERFORMANCE INFORMATION OF THE INDIVIDUAL INVESTMENTS CONTAINED HEREIN, PROSPECTIVE INVESTORS SHOULD BEAR IN MIND THAT PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS, AND THERE CAN BE NO ASSURANCE THAT THE INVESTMENTS WILL ACHIEVE COMPARABLE RESULTS. INVESTMENTS CAN AND DO LOSE MONEY.

CERTAIN STATEMENTS IN THIS OVERVIEW CONSTITUTE FORWARD-LOOKING STATEMENTS. SUCH FORWARD-LOOKING STATEMENTS, INCLUDING THE INTENDED ACTIONS AND PERFORMANCE OBJECTIVES OF ANKERSTAR WEALTH, INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES, AND OTHER IMPORTANT FACTORS THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE, OR ACHIEVEMENTS OF ANKERSTAR WEALTH TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE, OR OTHER ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS.

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The market experienced a sharp selloff on December 15, 2021. This comes in light of the new COVID-19 variant, Omicron, that has emerged and caused concerns regarding global economic growth. The Dow Jones Industrial Average plunged by over 1,100 points, marking its largest drop in nearly a year.

Many investors are wondering how this will affect their portfolios and whether they should sell their stocks. While it is always wise to reassess your holdings and diversify your investments, it is important not to panic or make knee-jerk reactions based on short-term market fluctuations. It is crucial to keep a long-term investment strategy in mind and stay focused on your financial goals.

One company that has been in the spotlight amidst this market turbulence is Tesla. Tesla stock has dropped significantly, falling below $900 for the first time since August. This is in part due to concerns about rising inflation and supply chain issues that are affecting the entire auto industry. However, it is worth noting that Tesla is still up over 70% for the year, and many analysts remain bullish on its long-term potential.

Another recent update that may affect investors is the new inherited IRA rules. Under the SECURE Act, which was passed in December 2019, beneficiaries of inherited IRAs are now required to withdraw all assets within 10 years of the original owner’s death. This is a significant change from the previous rules, which allowed beneficiaries to stretch out distributions over their lifetime.

If you have an inherited IRA, it is important to review your options and consider how this may impact your retirement planning. You may want to consult with a financial advisor or tax professional to determine the best course of action for your specific situation.

In summary, it is important for investors to remain calm and focused on their long-term goals amidst market volatility. Keep a diversified portfolio, stay informed about changes in tax and investment rules, and seek professional advice as needed. With careful planning and a disciplined approach, you can navigate these uncertain times and stay on track to a successful financial future.