Yes Christopher, There is a Santa Claus

Nobody can conceive or imagine all the wonders there are unseen and unseeable in the world.”
Frank P. Church, “Yes, Virginia, there is a Santa Claus”

By Mary Grace Musuneggi

With the onset of the holiday season, I find it easy to recall the days of my childhood and the memories of my Christmases past. When I was young, on random Saturdays, my mother and I would ride the streetcar to downtown and get off under the Kaufmann’s clock. I still remember the department store Christmas windows as we walked along Smithfield Street. I remember the bells of the Salvation Army Santa. I remember the Christmas music that filled the air.

The wonderful Christmas memories and traditions of my past are probably the reason that the holiday season is still as exciting to me as it was when I was a child. I have never let go of the joy and delight that the season can bring. I have never forgotten the spirit of the holiday. And I have never stopped believing in Santa Claus.

Almost 30 years ago, when my son, Christopher, was 10 years old, a group of his friends had 2013 gathered in our family room to play video games. The boys were talking about the hottest new game on the street, and as I passed by, Christopher called out to me, “Mom, can you buy this new game for me for Christmas?” I responded with, “We will see. Maybe Santa Claus will bring it for you.” With that the other boys began to laugh as they chided him with “You mean you still believe in Santa Claus?” And in a voice barely above a whisper, hoping I would not hear, Christopher replied, “No, I don’t; but my Mom still does.”

And I do. I believe in the Santa Claus that helps us find the time that we never seem to have the rest of the year. The time to shop and decorate and bake. I believe in the Santa that helps us find the extra energy needed to write out the cards, to wrap the gifts, to attend the parties, to cook the dinner. I still believe in the Santa Claus who, in years where money was tight, somehow made it appear to help to pay for the gifts and the tree and the new outfits. And I believe in the Santa Claus that brings family and friends closer and makes us wish for Peace on Earth and Goodwill to All, no matter what the state of the world might be.

Although for some the holiday season may seem lackluster with the state of the economy, the endless negative news from the media, issues facing the country or because of personal or family concerns, more than ever, once again, I believe that Santa will appear and bring the blessings of faith and hope; the kindness of strangers and the love of family and friends; the miracle of sharing; the knowledge that all we have is all we need; and the realization that we still live in the greatest country in the world.

And when years have gone by these blessings will still exist, and hopefully our current struggles will be lost memories and Santa will continue to be part of Christmas.

We at The Musuneggi Financial Group wish this year that the miracle of Santa will be part of this holiday season for everyone we know.

Can you remember…

No act of kindness, no matter how small, is ever wasted.” –Aesop

When you were a child, what was your favorite toy? Maybe it was a stuffed animal, a game, or a bike. Maybe it was as simple as a baseball glove or as complicated as a model plane you built from a kit.

Whatever it was, it was special…and you remember it to this day.

Every child deserves that experience. This is why we are so proud to be part of The United States Marine Corps Toys for Tots drive. Can you believe we’re celebrating a decade of service with Toys for Tots? In that time, we’ve developed a fantastic partnership with South Fayette High School and collected nearly 17,000 toys.

To commemorate our 10th anniversary with Toys for Tots, we’ve set a lofty goal: 20,000 total toys donated. That 20,000 toys translates to countless children and families waking up to a very special Christmas morning.

Our lobby is already starting to fill with toys and bikes, and we will continue collecting until December 8th. Toys can be dropped off any time during office hours, and we hope you’ll also join us for our annual Toys for Tots Holiday Donation party on Thursday, December 8th from 4:00 PM – 7:00 PM.

South Fayette Student Government members will be here that evening to “stuff a bus” with all of the toys and deliver them to the Toys for Tots donation center.

From all of us at The Musuneggi Financial Group, and on behalf of all the children who will receive these toys, thank you!

No Better Time than Now

By Mary Grace Musuneggi

If you own any kind of investment vehicle or retirement plan, or you participate in a 401k, you may have heard, or will certainly hear soon, about new government regulations from the Department of Labor (DOL) that will affect how people in the financial world do business. The word being thrown around is “fiduciaries.” This means that people in financial services have to put the client’s needs before their own.

Now you may be saying, “isn’t that the way it always had to be?” Well, no. Some advisors may not have had the best interests of their clients in mind, nor were they required to. As the law currently stands, broker dealers, insurance salespersons and investment advisors operate under the “suitability standard,” which merely requires that an investment is suitable for a client at the time of the investment.

This contrasts with the “fiduciary standard,” which requires advisors to avoid conflicts of interest and operate with full transparency-including doing at all times what is in the best interest of the client. We at The Musuneggi Financial Group are proud to say that we are fiduciaries and have always practiced this way. 

In addition to these new rules will come potential changes for investment managers, fee arrangements, mutual funds, investment accounts, retirement plans and financial planning services that you need to be aware of. There can also be a significant impact for small investment accounts.

You may have recently seen some significant changes to your company 401k’s. This may be the result of the impending DOL rule changes. You may have learned that a company with whom you have investments is eliminating their advisors or specific products.

Besides these new laws there are also potential changes in the economy, including impending changes to health care laws, interest rates, and government programs. We are therefore recommending, more than ever, that it is time for all investors to talk with their advisors and review their financial plans and investment programs. Outdated plans have no real value for you or your family, and you need to be assured that your personal programs are appropriate.

Some things that you should consider:

Christopher S. Musuneggi Receives Alumni Achievement Award

On Friday, October 7, the Keystone Oaks School District presented Christopher with their 2016 Alumni Achievement Award.

This award recognizes outstanding personal and professional achievements and highlights Christopher’s work with The Musuneggi Financial Group, Single Steps Strategies, Dress for Success, and Toys for Tots.

Christopher was honored to be recognized by his alma mater at Friday’s ceremony. Please join us in congratulating him on this special accomplishment.

What Goes Up Must Come Down…and Probably Will

Starting Out? Starting Over?

By Mary Grace Musuneggi

Start here.

Are you a recent college graduate? A newlywed? A new parent? Starting your first job?

Are you divorced, widowed, out there on your own? Would you like to start a business? Have you changed jobs or careers?

Then you probably wish that you had help, advice and professional assistance with the many financial decisions you will need to make. I know from personal experience how important it is to get help with life’s challenges and changes. I have been married, widowed, and divorced. I have been a single parent. I changed careers a number of times until I started my own firm. And I know that my success has always been tied to the level of support I received when I needed it most.

I learned early about the importance of getting professional help. Many years ago, purchasing my first home also meant purchasing its metallic orange, black and silver wallpapered bathroom. I knew right away I needed to get rid of that wallpaper. But money was tight, and I didn’t want to spend too much. So I decided to do it myself. After all, how hard could it be? I was an intelligent, well-educated person. I thought I was capable of doing anything.

After three days of stripping, measuring, cutting, and hanging, the bathroom had gone from ugly to frightening. It became blatantly apparent that I had no talent for this kind of work. Everything I could have done wrong, I managed to do wrong. In the end I called a professional, and she charged me twice as much to undo the damage I had done.

This experience taught me some valuable life lessons:

#1: The cheapest way is not always the best way.

#2: Being intelligent means being smart enough to know what you don’t know.

#3: Talent, expertise, knowledge, and experience are invaluable tools that are worth paying for.

Most people who avoid working with a professional financial advisor think they can’t afford to. There is a common assumption that financial professionals are looking for clients with $100,000 to invest or a million dollar retirement rollover. But that’s simply not true. After all, most people have financial needs and concerns long before they have any big investment. Where do they go? What do they do?

This is where our financial coaching program “Starting Out/Starting Over” comes in. We’ve designed “Starting Out/Starting Over” to be affordable for anyone. The fee structure works like a gym membership or movie subscription, and the program provides assistance with budgeting, financial literacy, debt management, and investing 101. “Starting Out/Starting Over” also connects you to an advisor who is available to help you make wise financial decisions.

To learn more about this unique program please contact us at 412-341-2888. It can make an excellent graduation or wedding gift, too!

My Company is Downsizing. Now What?

Whether you’re hearing rumors about layoffs at work or you’ve experienced it firsthand, knowing these six strategies can help you handle being downsized.

Post-Brexit Bear Market? Oh my!

By Mary Grace Musuneggi

In the wake of the Brexit decision, I can’t help but think back to June 2008. I remember fielding calls from clients who were pretty sure they would spend their retirement years living under the Smithfield Street Bridge. As 2008 and early 2009 brought financial markets to their knees, we felt their pain. In lighthearted moments we would laughingly say maybe we needed to change the name on the door of the office from The Musuneggi Financial Group to The Musuneggi Dog Walking Gang. But the fact is it was more important for us to hold on to the belief that “this too shall pass”–and it did.

In 2014 we began to advise clients that we were at the historic highs of the stock market…and we had bond rates that were at historic lows. Double whammy! And although there is no crystal ball, and past history cannot predict future history, we do believe that history can lend some perspective.

At that time, Brenden Gebben, Portfolio Manager for Absolute Capital, shared an article in which he referred to the Ned Davis Research that says during Bull Markets, on average, the stock market has historically sustained upward trends for 331 market days before a 10% correction occurs and upward for 1105 market days before 20% correction occurs. So from this view we were certainly due for a correction.

And here it is. So what are some things we need to do? What are some things we need to remember?

1. Avoid trading too frequently.

2. Stop. Don’t panic. Trust your strategies. Trust your money managers’ strategies; after all, that’s what you’re paying for.

3. Don’t get out of the market at the worst times.

4. Be sure you are diversified. There are other market segments beyond just domestic stocks and government bonds. Be sure you understand them all.

5. Re-balance sometimes. Often. Frequently. Or whenever it is appropriate for your risk tolerance and for your objectives.

6. Don’t ignore tax ramifications. Return on investment is not the same as after-tax return on investment.

7. Know that we cannot control economies, performance over the years, or returns, but we can control strategies and asset allocation.

8. And remember, in 1921 the Dow Jones was at 60. Obviously it has gone up. But to get there it has gone up and down and up and down and up and down along the way. Time can certainly be more important than timing.

No matter what the markets are doing, your investment decisions need to be those that are right for you. At the right time. In the right allocation. To review your current strategy give us a call.

And if you’re concerned about a Bear market post-Brexit, we’ve just added a Bear Market Webinar to next week’s calendar. For more details and to sign up, click here or contact Chrissy at chrissyg@mfgplanners.com.

Who Has a Legacy?

By Mary Grace Musuneggi

Just about the time a President’s term is coming to an end, there is talk about what he wants his legacy to be. The same discussion often happens when a leader leaves the business world or a non-profit organization.

But a “legacy” is not just for the great leaders of our world. It is for all of us who are great in our own worlds. We all have a legacy. What will we leave behind when we leave this earth? How will people think of us? What have we done to add to the world or to make it a better place? What have we taught our children? What have we given to those we love?

Here is an idea I heard of years ago: pretend you are attending your own funeral and listening to what people will say about you. What do you think you would hear? What did you accomplish that you want everyone to know about? And what did you do that no one will know about or speak about…but you are proud to have accomplished?

One way many of us contribute to our world is through volunteering and charitable
giving. When I am asked by people who are retiring, “What will I do every day if I am not working?” my first suggestion is to consider volunteering. The world is in desperate need of volunteers, and there are organizations that need you–from medical research, to educational programs, to animal rescue, to the environment, to religious causes, you are bound to find something that fits your passion. This can be your legacy…or at least a part of it.

If you regularly donate to charity or other worthy cause, put money in your church collection, tithe, or spend money at a fundraiser, you are one of those special people who helps to contribute to the betterment of our world, even if just a small part of it. And this, too, is part of your legacy.

Believing in the premise that you will “reap what you sow” and “get what you give,” you probably find that your reward for charity comes in feeling good about what you are doing, or by an increase of abundance in your life, or maybe even in the value of the tax deduction you can claim. In any case, those organizations who share in your generosity are very appreciative. They love you!

Finding the time to build your legacy is one thing. But where will you find the money to build your legacy, if that is what is required?

Tithing–giving away 10% of your income–is a good start and one of the central themes in abundant living.

Sharing an inheritance is another. If you have been fortunate enough to receive assets from a family member or friend, you may want to leave part of that as your legacy.

Or, if you routinely give from your income or assets to a charity, considering giving IRA money instead of non-IRA assets. This is especially great if you have to take a Required Minimum Distribution every year once you are over 70 ½. You can have IRA assets sent to a charity, which is a tax-free strategy for you and the charity. It’s a win-win.

A sustainable legacy that will continue long after you have passed on is a Foundation. Most people think these are only for the rich and famous, but you can start a foundation for as little as $10,000. That money can be added to the foundation today, or it can be done once you pass away. You can name the foundation whatever you want (I named mine after my mom) and you can dictate who will receive the funds: the elderly, or dogs, or children, or the earth…it is entirely up to you.

Whatever the case, we only live once. But if we do it right, once is enough.

The Musuneggi Financial Group is proud to partner with the Pittsburgh Foundation to assist clients and friends in developing a legacy. For more information, please contact our offices at 412-341-2888 x 0

Mary Grace Musuneggi Receives Humanitarian Award

On May 4, Mary Grace Musuneggi received the 2016 Humanitarian Award from the National Association of Insurance and Financial Advisors – Pennsylvania.

NAIFA-PA presents their annual Humanitarian Award to recognize an individual’s efforts to give back to the community and positively impact lives. Mary Grace was selected because of her longtime commitment to helping women be independent and successful, including her work with Single Steps Strategies, Dress for Success Pittsburgh, and Toys for Tots.

The award includes an honorarium for charity, and Mary Grace is pleased to donate hers to Dress for Success Pittsburgh: “To be recognized by peers is always an honor, but I’m especially excited to be able to put the spotlight on Dress for Success Pittsburgh and the amazing work they do every day for women in western PA. Any time we can pay it forward in their direction, I know something positive is about to happen.”