September Economic Update

Stock prices surged in August as investors cheered positive news on COVID-19 and welcomed a month-long series of upbeat economic reports. 

The Dow Industrials picked up 7.6 percent while the Standard & Poor’s 500 Index climbed 7 percent. The Nasdaq Composite, which has led much of the year, gained 9.6 percent.[i]

The S&P 500 index set a new high in late August, completing the fastest recovery from a bear market in history. The Nasdaq Composite also hit several new highs and closed above 11,000 for the first time.[ii],[iii]

Signs of a pick-up in manufacturing activity, better-than-anticipated factory orders, and falling new jobless claims showed an improving economy.[iv],[v],[vi]

In the final week of trading, news of a potential COVID-19 treatment and reports of a rapid test for detection helped keep the month-long rally rolling.

The election season is moving into a higher gear as November draws near. Will uncertainty about the election get reflected in the stock market?

Since 1992, the S&P 500 has lost an average of 2 percent in the three months leading up to the election. But it has been higher 43 percent of the time. Keep in mind that the 2 percent average includes the 20 percent drop prior to the 2008 election resulting from the ongoing credit crisis.[vii]

While past performance is no guarantee of future results, the lesson may be evident: Prepare for some short-term volatility while not losing sight of your overall investment strategy.

SOURCES

[i] The Wall Street Journal, August 31, 2020. The Dow Jones Industrial Average is an unmanaged index generally considered representative of large-capitalization companies on the U.S. stock market. The S&P 500 Composite Index is an unmanaged index that is considered representative of the overall U.S. stock market. The Nasdaq Composite Index is an unmanaged index that is considered representative of small-capitalization companies. Index performance is not indicative of the past performance of a particular investment. Past performance does not guarantee future results. Individuals cannot invest directly in an index. The return and principal value of stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost.

[ii] MarketWatch, August 27, 2020 

[iii] The Wall Street Journal, August 18, 2020 

[iv] Barrons.com, August 6, 2020 

[v] MarketWatch, August 3, 2020 

[vi] MarketWatch, August 4, 2020 

[vii] CNBC.com, August 10, 2020 

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BETHANY J LONGFELLOW
Operations Specialist

862.207.3891
bethany@ronaldgelok.com

BETHANY J LONGFELLOW

Operations Specialist

862.207.3891

bethany@ronaldgelok.com

 

Bethany works remotely from her home in Missouri. With her Bachelor of Fine Arts focused in Design from Mason Gross School of the Arts at Rutgers University, Bethany assists creatively in RGA’s marketing department with graphic design, video creation, and photography.

Bethany has established her hardworking and above-and-beyond attitude from her 20+ years of riding, training, and managing horses and horse stables. When she’s not working, you can usually find her hanging out with her two horses, Sassy & Jax.

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TAMMIE BARONE
Director of Client Services
862.207.3841
tamara@ronaldgelok.com

TAMMIE BARONE

Director of Client Services

862.207.3841

tamara@ronaldgelok.com

 

Prior to Tammie joining RGA, she worked in investment management with several investment firms, including MassMutual Financial and Northwestern Mutual. She has been working and assisting in investment and insurance services since 2002. She is a dedicated and valued asset to our team as Director of Client Services.

Born and raised in Morris County, Tammie currently resides in Essex County, where she enjoys any outdoor activities and volunteering with her dog Mackenzie at various senior centers.

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CHRISTIAN VIVAS
Director ofMarketing
862.207.3851
christian@ronaldgelok.com

CHRISTIAN VIVAS

Director ofMarketing

862.207.3851

christian@ronaldgelok.com

 

As the Director of Marketing, Christian is in charge of all internal and external marketing material that RGA provides to our clients and the general public. He is responsible for scheduling and booking venues for our live educational presentations in the community around the North Jersey and Central areas. Christian oversees the production of our media content and spearheads our social media presence so that we may disseminate valuable information online.

Working hand-in-hand with our operations team, he has produced numerous educational and informative productions stemming from our Monthly Economic UpdateWeekly Newsletters, Blogs, and our Resource Page, and maintains our website. 

Christian received his Bachelors and Masters Degree from Rutgers University in 2007 and 2010 respectively. He also provides technical assistance within the office and is whom we rely on most when it comes to data management, analysis, and innovation to increase our ability to communicate with our clients in a manner that suits them best. He inspired our use of online video web conferences in order for us to engage our clients from the comfort of their homes, so that bad weather is no longer an issue when we need to communicate face to face.

Christian has been very fortunate in his life and has appeared on TV several times before as part of an instrumental performance ensemble. He has appeared on National Television performing in a scene of, ‘Odd Mom Out,’ and twice appeared as a performer on “The Daily Show” with Jon Stewart.

Christian is also very active as a Group Fitness Instructor across multiple gyms including the Meadowlands YMCA and Fitness Factory in Rockaway, NJ.

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ALINA ESTRIN
Executive Assistant to Brian Ginty
862.207.3868
alina@ronaldgelok.com

ALINA ESTRIN

Executive Assistant to Brian Ginty

862.207.3868

alina@ronaldgelok.com

 

Alina was born in Russia, so she is fluent in English and Russian. Prior to joining RGA, Alina worked for the NJ State after carrier with Lehman Brother. Additionally, Alina has a PhD in economics. As Executive Assistant to Brian Ginty, Alina prepares applications, reviews documents, and analyzes illustrations prior to Brian presenting them to our future clients.

Outside of RGA, Alina continues her many years as a Yoga, Thai Chi and Pilates instructor.

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CHRISSY BODEN
Marketing Associate
862.207.3841
chrissy@ronaldgelok.com

CHRISSY BODEN

Marketing Associate

862.207.3841

chrissy@ronaldgelok.com

 

Chrissy (Gelok) Boden is a New Jersey native who lives with her husband and two children. Chrissy works with the RGA team, assisting with marketing strategy and content. After earning her Bachelors at Messiah College (2012) and a Masters in Counselling from Eastern University (2014), Chrissy worked as a school counsellor and academic registrar. Now Chrissy is using her experience in counselling and educational leadership to support organizational communications at RGA in order to maximize client care and experience.

When not working, Chrissy’s time is mostly spent in the company of her two highly active toddlers, along with family and friends. When she has time to herself, Chrissy loves reading books, riding bikes, discovering new music, and brewing good coffee.

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MICHELE DIDONATO
Executive Assistant to Susan Gelok-Cullen
862.207.3805
michele@ronaldgelok.com

MICHELE DIDONATO

Executive Assistant to Susan Gelok-Cullen

862.207.3805

michele@ronaldgelok.com

 

Michele is the Executive Assistant to Susan Gelok-Cullen. Michele manages Susan’s calendar and assists with client services in the RGA Florida branch. Michele has previously worked as an Executive Assistant in some of Philadelphia’s top hospitals and Universities.

Michele has recently moved to Naples, Florida. In her spare time, she enjoys going to the beach, attending concerts, and spending time with her family, especially her dog, Tucker!

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BRIAN T GINTY, CSSC
Financial Advisor & Sertified Structured Settlement Consultant
862.207.3843
brian@ronaldgelok.com

BRIAN T GINTY, CSSC

Financial Advisor & Sertified Structured Settlement Consultant

862.207.3843

brian@ronaldgelok.com

 

Brian was a Senior Vice President for The Halpern Group, a company which facilitated the establishment of trusts for plaintiffs in personal injury disputes. In addition to The Halpern Group, Brian has held senior management positions both at AIG Domestic Life Companies and Prudential Financial. He was also National Sales Director and Senior Vice President of Corporate Development at two of the largest structured settlement brokerage firms.

During his career, Brian has successfully negotiated more than 1000 cases throughout the United States and Canada.  He has been a leader in integrating trust and other financial vehicles to provide comprehensive financial strategies for tort victims. 

Brian is a regular speaker at legal seminars and meetings including the American Association for Justice, the North Carolina Association for Justice and the New Jersey Association for Justice.

Brian is a veteran of the United States Navy where he served as a cryptologist in Misawa. Japan.  During his three years in Japan, Brian played for the base soccer team as well as coached the high school team.  He also taught English and attended the University of Maryland, Far East Division.  He graduated magna cum laude with a dual major in Business Management and Psychology.  Upon his discharge Brian enrolled in Rutgers Graduate School of Management while he began his career in the financial services industry. 

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SUSAN GELOK-CULLEN
Registered Financial Consultant
239.591.6215
susan@ronaldgelok.com

SUSAN GELOK-CULLEN

Registered Financial Consultant

239.591.6215

susan@ronaldgelok.com

 

Susan brings a wealth of experience and knowledge to her role as Managing Director of Florida Operations & Retirement Income Planner for RGA. She is licensed by the Florida Department of Financial Services for Life and Health Insurance. She is a Registered Financial Consultant and one of less than 200 women in the United States to have earned the National Social Security Advisor Certificate.

Whether it’s planning for retirement or college expenses, maximizing income, reducing taxes or assisting with long-term care needs, helping people is one of Susan’s passions. Susan is known for her creativity, strategic planning and individualized approach.

Susan holds a Bachelor of Science in Human Service Management and is a best selling author and Radio Personality. She is licensed in multiple states and has been in Naples for over 10 years!

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THOMAS J SMITH, Esq. BA, MBA, JD, LLM
Director of Tax Reduction Planning
862.207.3846
tom@ronaldgelok.com

THOMAS J SMITH, Esq. BA, MBA, JD, LLM

Director of Tax Reduction Planning

862.207.3846

tom@ronaldgelok.com

 

Bio coming soon.

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MORGAN KELLY CURRAN
Director of Operations

862.207.3808
morgan@ronaldgelok.com

MORGAN KELLY CURRAN

Director of Operations

862.207.3808

morgan@ronaldgelok.com

 

As the Director of Operations, Morgan is involved in every aspect of RGA. Morgan’s primary role is working alongside the Operations Team and the Advisory Team to ensure maximum productivity and efficiency is achieved. Morgan also manages the hiring and training of new employees. Her main objective is for RGA to provide the ultimate client concierge experience. Morgan is an invaluable asset with over seven years’ experience within the financial services industry.

When Morgan is not busy working, she enjoys spending time with her family, seeing shows, and traveling. Morgan is a lover of meditation, 50s, 60s & 70s music, cappuccino, hiking and fine wine

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