Market Commentary – April 2025
Richard Eller, President & Founder, Blueprint Financial Group.
Hello,
You have investment accounts managed by my office and held at Fidelity where I am your designated advisor. This client commentary is part of my outreach.
Welcome to 2025—somehow, it got here faster than expected. Daylight savings started, baseball season is under way and the stock market continues to keep us on our toes.
Let’s break down what is happening and, more importantly, what it means for your investments.
The Tech Trap & Diversification Reminder
Tech stocks have had an incredible run, but history reminds us that no sector is invincible. The early 2000s tech bubble saw major stocks drop by 30% – 50%. While I am not predicting a crash, concentrating too much in one sector is like keeping a pet scorpion—it stings when you least expect it. A well-diversified portfolio is your best defense. Risk management is not about reacting to trends, it is about staying ahead of them.
Inflation, Recession & Market Noise
Quick refresher: Inflation erodes purchasing power; a recession signals an economic slowdown. With strong job numbers, a recession is unlikely, but not impossible. Inflation acts like an after-tax tax. The market looks ahead, while most consumers focus on the present. That disconnect can lead to costly emotional investing decisions.
The current political headlines regarding global tariffs, domestic federal employee layoffs, and other related presidential actions have left our nation polarized. Some see current policies as long-overdue progress; others worry about significant economic fallouts. Without a crystal ball, the best investment strategy is ensuring your portfolio aligns with your risk tolerance.
Risk Tolerance & Investor Discipline
Risk tolerance is not just about how much risk you can take, but how long you can endure it. Markets rise and fall. Investors tend to feel bold when stocks are up and anxious when they are down, but long-term success comes from consistency and discipline.
The best investors filter out the noise. There will always be headlines predicting doom or boom. For example, companies like Coke, Johnson & Johnson, and Microsoft do not change business models based on daily stock prices, and neither should you if your portfolio aligns with your goals.
Welcome to Your Retirement Party
Picture a retirement party where four uninvited guests show up: Inflation, Depreciation, Taxation, and Longevity.
• Inflation and Depreciation quietly shrink your savings every year, without warning.
• Longevity sticks around as long as you do. You spend money until your last day.
• Taxation? With rising federal debt and spending, it is the never-ending withdrawal.
Together, they nibble away at your hard-earned money. The best defense? A clear, disciplined growth strategy, that I can help craft and adjust for my clients as the landscape changes.
What We Do & Why It Matters
Our process is structured and disciplined, and we adhere to the highest fiduciary standards. That is where my team and I come in. Behind the scenes in our Connecticut and Florida offices, and back office operations in Virginia, quite a bit happens which is our job. And we love it.
We work hard to ensure two things for our clients: Transparency and Financial Clarity. I take this responsibility seriously. You should understand what you own, why you own it, and how your account is billed. If anything is not clear, let’s talk. This is your hard-earned money. It deserves expert oversight and respect, and communication with you.
What else to know? Long-term investing for the sake of potential account growth is great. We all want to see account balances grow over time. However, it is important to remember that most retirement accounts have a singularly critical function, which is to provide retirement income and cash flow. Sure, non-retirement accounts can help grow our liquid net worth, always important in the face of ever-spiraling prices of goods and services. Still, it is the retirement accounts that do the heavy lifting.
I am always mindful that your retirement accounts will provide a large, if not substantial portion of your retirement income. This is especially true at age 73 when you must withdraw a certain amount from your retirement accounts called a Required Minimum Distribution (RMD). The larger your retirement account, the larger your RMD, which translates into enhanced income. Always remember, growth investing is great, but it is all about the retirement cash flow.
Know What You Own
Check your Fidelity statement—especially page two.
• Is too much cash sitting idle? Could it work harder for you?
• Or you do not have enough of a cash cushion when emergencies occur, or opportunities arise. We do not want to sell a position to invest in new ones or provide crisis liquidity.
• Your top holdings and cash position are detailed on page two—worth reviewing.
• Look at your specific investment positions to ensure you know what you own and why.
Understanding Fees
Your accounts are fee-based, meaning Fidelity debits your money market balance each month.
You can find those fees and expenses in three places in your statement:
1. Cover page – Monthly and year-to-date fees withdrawn.
2. Page two – Breakdown of all your fees, charges, and expenses.
3. Inside the statement – Listed after account activity.
Understanding fees, allocations, and risks is crucial and if you still have questions, please reach out.
Beware of the News
Not all information is equal. Cable TV, newspapers, and the internet all push bold headlines, but they do not always tell the full story. Investors today are bombarded with opinions from wellintentioned friends, colleagues, and family who turn personal views into “facts.” Finger pointing occurs every time there is a threat of a U.S. Government shutdown. That is why I urge my clients to focus on fundamentals and facts, not fear and speculation. Mark Twain once said: “If you do not read the newspaper, you’re uninformed. If you do read the newspaper, you’re misinformed.”
What’s Ahead in 2025?
2025 brings uncertainty—interest rates, politics, and economic data will shape markets. Growth is still expected, but at a measured pace. And no, more tech stocks are not always the answer. Longterm success comes from strategy, discipline and patience, not frequent trading.
Important Final Thoughts
I am a Certified Financial Fiduciary®, which means I work for you—without conflicts of interest. No sales pitch. Just straight talk, without sugar coating.
For decades, I have helped clients navigate uncertainty, manage risk, and build long-term wealth. Markets always fluctuate, but success comes from having a clear and transparent strategy, patience and discipline, and experienced guidance, not frequent stock trading.
We encourage clients to work with someone who is securities licensed and also a Fiduciary. At Blueprint, that full responsibility falls on me, as the sole person to fulfill these dual roles.
My name, office address and phone number are on the front page of your monthly Fidelity statement. If you have questions or want a portfolio review, reach out. Every investor has different goals and risk tolerances. Let us make sure your portfolio is working for you—not against you. To visit our team, please go to www.Blueprintfg.com If you have questions or concerns or simply want a second opinion, call or email me at 203-557-4930 or Rich@Blueprintfg.com.
Thank you for your time,
Rich Eller
This content is for informational purposes only. The views and opinions expressed here are of the author and do notnecessarily reflect the opinion of Spire Wealth Management LLC, and its affiliates. There can be no assurance that any investment products or strategy will achieve its investment objective. There are risks associated with investing, including the entire loss of principal invested. Past performance has no guarantee of future results. Investment Advisory Services offered through Spire Wealth Management, LLC. Richard Eller is an Investment Advisor Representative of Spire Wealth Management, LLC. operating under Blueprint Financial Group, an independent firm.