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Welcome to the latest edition of the Healy Wealth Management newsletter, your monthly guide to navigating the financial complexities of life.
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Click below to watch Kathy Healy address FOMO – the “fear of missing out”. Surveys show that even wealthy people can fall into the trap of constant comparison, which undermines their confidence and ultimately, their progress. Learn from Kathy how to shift your mindset and stay on track.
An overweight man told his girlfriend, “I lost 20 pounds.”
She replied, “I’m sorry.”
Why?
Over the past week, a few clients have reached out with questions — and one in particular stood out. Half-joking but entirely sincere, someone asked, “Can I still retire?”
It’s a fair question. Recent headlines have been anything but calm: a surprise interest rate hike from the Federal Reserve, renewed tensions over trade policy with China, and a sharp pullback in tech stocks have all added fuel to an already jittery market. The S&P 500 has dropped more than 7% over the past two weeks and talk of a potential slowdown or “rolling recession” has crept back into the financial news cycle.
And yet… you’re not calling us in a panic — and we’re not calling to tell you to “do something.”
Our relationship is built on proactive, thoughtful communication — not knee-jerk reactions to headlines. Through regular check-ins and deep conversations, we’ve crafted a strategy that’s grounded in your goals, your timeline, and your comfort with risk. You know what you own and why you own it. That kind of clarity, built when markets are calm, becomes especially valuable when volatility strikes.
Our value investing approach is rooted in fundamental research and long-term thinking. We don’t make decisions based on short-term market forecasts or political noise. We focus on owning quality businesses — ones with durable advantages, strong cash flows, and capable leadership — bought at reasonable prices.
And just as important, we’ve stress-tested your financial plan. We’ve planned for downturns, built in buffers, and structured your portfolio for resilience. Volatility like this was never a question of if — only when. And because we expected it, we don’t need to be reactive now.
Because in moments like this, doing nothing is often the wisest choice. As Buffett put it, “The stock market is a device for transferring money from the impatient to the patient.”
Of course, that doesn’t mean we’re ignoring what’s happening. Our portfolio managers are watching markets carefully, staying attuned to changes that do matter — whether in your personal goals, our investment thesis, or the economic landscape. If something significant shifts, we’ll address it together.
So yes — you can still retire. That speaks to a deeper truth: financial confidence comes not from perfect timing, but from thoughtful planning. If you’re feeling uneasy, that’s completely normal. But know this — your plan was built for moments like this.
If you have any concerns or questions, please know that we are always here to discuss them with you.
At Healy Wealth Management, we take the long view. And like Charlie Munger, we believe that the Chinese Communist Party (CCP) is not driven by ideology alone—but by the pragmatic need to stay in power. As historian Frank Dikötter explains in China After Mao, the CCP’s greatest fear is not foreign pressure, but internal dissent. The lesson of Tiananmen Square still shapes its governance: the Party suppresses all protest, not just to maintain control, but to avoid collapse.
This context helps frame the broader economic implications of President Trump’s recent tariffs on Chinese imports. With rates reaching as high as 145% on some goods, these tariffs are not just policy—they’re part of a widening trade war. The tariffs have already contributed to declining export volumes from China, and while Apple’s products—iPhones, iPads, and Macs—have been temporarily exempted, the message is clear: Apple must prepare for a world where Chinese production is no longer guaranteed or economically viable.
Apple’s profitability is built on its quality brand and pricing power. But its operational success has long relied on China—not for cheap labor, but for its unique industrial capabilities. As CEO Tim Cook had noted, the U.S. might fill a room with tooling engineers, but China could fill multiple football fields. This deep bench of manufacturing skill, especially in tooling and precision assembly, is what enables Apple to scale at high quality.
Apple’s main supplier, Foxconn—a Taiwanese firm—employs over 1 million people in mainland China. As Apple accelerates production shifts to India and Vietnam, it is not simply diversifying its manufacturing—it is diluting Foxconn’s strategic value to the CCP, exposing it to more regulatory scrutiny.
Trump’s tariffs signal a strategic decoupling. And while the CCP may remain pragmatic—needing companies like Apple for employment and growth—the more Apple moves out of China, the more it enters a vulnerable middle ground. This reality is nothing new. But now more than ever, Apple is caught between the forces of American national interest and Chinese authoritarianism.
In a trade war environment, the pressure to Apple’s gross profit margin is significant (25-35% versus current level of 45%). However, the long-term impact is likely to prove less severe (41-43%). As always, volatility creates opportunity—and understanding the real risks is the key to long-term confidence.
A key lesson from behavioral finance is that humans tend to overweight recent events and underestimate the likelihood of reversion to the mean. In other words, we assume that if things are bad now, they’ll stay that way — even though history says otherwise:
What’s driving this? It’s the inevitable wealth-building flywheel of unfettered commerce – something we Americans often take for granted – like fish who don’t recognize the water in which they’re swimming.
That kind of long-term consistency is the foundation of our investment approach — and your financial plan. We don’t chase headlines or fads. We build portfolios and plans around your values, your goals, and your time horizon — not market noise.
If you’re feeling uneasy, please know that’s normal. But before you make any major changes — to your investments, your business, or your life — let’s talk. The best financial decisions are made with clarity, context, and collaboration.
Make your next decision based on perspective — not based on a reaction to news that you may later look back on with regret.
“To plant a garden is to believe in tomorrow.“
– Audrey Hepburn
Answer: He’s British
Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through IFG Advisory, LLC, a registered investment advisor. IFG Advisory, LLC, Healy Wealth Management, and Integrated Financial Group are separate entities from LPL Financial. The LPL Financial registered representatives associated with this page may only discuss and/or transact business with residents of the following states: AL, CA, DC, GA, KY, MD, MO, NJ, PA, SC, TX, and WA.
