S A N U M

Hello & WelcomeP.2. When quiet can become a welcome respite from our busy lives.

ECONOMIC UPDATE

P.3. Two main themes seem to capture 2020’s

mid-year outlook: hope and uncertainty.

The Sanum FamilyP.4. How we miss seeing June Schipper’s smiling face around our town.

HEALTH

P.4. How the simplicity of gratitude shapes our sense of well-being.

NEWS AND EVENTS

P.4. What's happening!

Financial JourneyP.4. Do you know where your financial journey is taking you?.

F I N A N C I A L S E R V I C E S

N E W S L E T T E RS U M M E R · 2 0 2 0

There is a quiet gravel road near our home that forms part of a five-mile path for my Sunday morning run. Yesterday, it was particularly nice; cool, with a decent breeze to keep the bugs away. The sun was spectacular, darting in and out of the clouds.

One leg of this path contains a long span of cattails that remind me of days gone by when time stood still. I took a break to reminisce and catch my breath. When a single vehicle interrupted the moment, I started back on the path.

Turning left at the next intersection, the landscape unfolded a field of corn. The corn was way more than knee-high this past 4th of July; it seems our northern MN crop may compete with the likes of IA corn this year. The weather has been that cooperative. Just a couple of months ago, seeds were planted. Today, the plants in this field easily surpass my height with much of the growing season yet to unfold. The beauty of this crop reminds me of how quickly new seedlings of life become productive parts of society when tended by humans and beyond.

This quiet route has become a respite among my busy life. It is easy to get “lost” in thought among the beauty of nature, including its silence. How different our world is from six months ago. And how different it will be in six more months.

Will there be a treatment? A vaccine perhaps? What will school look like in the fall? How will travel evolve?

Who will lead our nation these next four years? What work will we do toward a more just and fair world, a truly interracial democracy, a nation at peace with itself?

One thing is certain, we will move forward, not back. We will be better off, not worse. New signs of life emerge daily, giving us hope for a bright future. Do you know where you are headed?

Summer is finally here!

Two main themes seem to capture 2020’s mid-year outlook, hope and

uncertainty. After posting a solid 2.3% real GDP growth for 2019, the

economy officially entered “recession” in February due to the COVID-19

pandemic and the nationwide “lockdown.” While May and June

showed a solid rebound, recent spikes in cases are a cause for concern,

as they have the potential to delay further reopening.

Most forecasting agencies currently are running three recovery

scenarios for the US economy. The Conference Board recently posted

its US economic outlook similarly. In its best-case scenario, the

pandemic is brought under control rapidly, allowing unemployment

to ease further and consumer confidence to rise (“swoosh” recovery).

On the other end of the spectrum is a large second wave, which could

yield a weaker (“W-shaped”) recovery and extend the economic crisis

into 2021.

The Conference Board is estimating a recovery somewhere between

these two. Calling its base case scenario the “double dip,” it includes

GDP contraction driven by declines in consumer spending, capital

expenditures and exports. The forecast expects US real GDP overall to

contract 7% for 2020, followed by real growth of 1% in 2021. Keep in

mind, this is an election year, so a lot remains uncertain.

One thing is certain, the new normal will be different from that to

which we have grown accustomed. Are you prepared, and positioned

to accomplish your goals amidst the uncertainty? Now perhaps more

than ever, it remains important to have a plan and stick to it, understand

your investment time horizon, stay balanced in your investments, stay

flexible (assure you have adequate liquidity) and continue to invest

within your tolerance for risk. Is it time yet for a plan?

Source: Conference Board Mid-Year Economic Forecast

https://www.conference-board.org/research/us-forecast

ECONOMIC UPDATE— NAVIGATING THE CORONAVIRUS

In the Red River Valley it seems as if your horizon stretches forever.

The simplicity of gratitude can have a powerful effect on our lives and health, especially during uncertain times. Gratitude raises

consciousness, recharges energy, enhances self-worth and strengthens our spirits. Write down those things for which you are most grateful.

the

sanum

family

TThose of you in the Crookston, MN area have been used to seeing June Schipper’s smiling face around town for years. One day, she and her children announced June was moving to Missouri!

The next week, in an impressive display of family organization and efficiency, she was moved. While we miss seeing her on her rounds through town, we understand the joy of being closer to

family and are glad she is settling in well to her new home. Welcome to your new home, June!

Sanum Financial Services is an independent firm offering financial planning, insurance and investment products and services to individuals and small businesses in the Midwest and beyond. Sanum Financial Services, 115 South Broadway, Crookston MN 56716 | Tel 218-281-3515 | sanumfinancial.com | Securities and advisory services are offered through Packerland Brokerage Services, Inc., an unafiliated entity. Member FINRA/SIPC. Insurance products offered through Rose Koch Agency and Dennis Koch Agency, doing business as Sanum Financial Services.

Focus on Integr ative Health News and events

Plan to join the Mentor / Lakes Area 5K walk / run on Saturday, August 1st beginning at 8:30 am. Picnic lunch to follow. Proceeds go to Project Play, for playground improvements at the Mentor City Park.

While most fairs and large gatherings have been cancelled this summer, Crookston’s Ox Cart Days is hoping to “keep the festival spirit alive” with certain, limited events August 17 – 21 this year. For more information, check out www.crookstonoxcart.com.

Our offices will be closed for Labor Day on Monday, September 7, 2020.

Do you know where your financial journey is taking you? Whether you’re getting started or starting to pay attention, you don’t have to do it alone. A financial professional can help you figure out what you have, prioritize your goals and plan for what’s ahead. We’re here to help you on your personal financial journey. While it is best to call ahead for an appointment, you are welcome to stop by anytime to discuss your situation.

YOUR Financial Journey

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S A N U M N E W S L E T T E R · S U M M E R 2 0 2 0