The Times They Are A-Changin’ — Bob Dylan

As the reality of the Trump administration continues to take shape, markets are grappling with the uncertainty surrounding what comes next. The core issue at hand is this unpredictability. While the U.S. economy remains in relatively good condition, with unemployment numbers still impressive and government layoffs lower than expected, the uncertainty persists. Economists continue to forecast GDP growth for the first quarter of 2025, and while recessions are only confirmed in hindsight, a recession is typically defined as two consecutive quarters of negative growth. If the economy shows expansion in Q1, it would show that we have yet to enter recession. That being said, the decreasing GDP growth rate is a concern.

The biggest wildcard, however, is the individual sitting in the Oval Office. Much of the uncertainty stems from the President’s unpredictable statements, which often cause sharp market reactions. With each new sound bite, it seems the trajectory can change in an instant, often reversing months of prior discourse. Ultimately, we believe that President Trump gauges his success by how well the markets perform during his presidency. While we may face some short-term volatility, we are confident in our ability to navigate these challenges. We are well-positioned to weather this storm and are actively monitoring for a favorable entry point to invest in promising companies.

There have been significant changes to the health insurance landscape over the past few years. Our clients who have reviewed their Medicare supplemental policies have been able to secure substantial discounts for the same coverage. If you haven’t recently reviewed your policy, we highly recommend doing so. Should you need a referral to a trusted health insurance vendor, please don’t hesitate to reach out to us.

We are also excited to share that Cantlon Financial Planning surpassed $100 million in assets under management in 2024. In line with this milestone, we have been approved for Federal Securities and Exchange Commission oversight, having previously been regulated by the Illinois Securities and Exchange Commission since 2012. While this change in regulatory oversight will not affect your experience as our clients, we believe it’s important to keep you informed.

As always, if you have any questions, feel free to contact us. We appreciate your continued trust and partnership.

Very Truly Yours,

Michael F Cantlon
Thomas E Guyett
Robert T Gephart