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Member Investment Letter from Executive Director Sumner M. Grant

Dear Member,

I’m sure, like me, you’ve found the last few weeks frustrating, exhausting and frightening. Even though I am a long-term investor I find myself checking the stock market returns several times a day in disbelief.

So many factors have combined to create this situation. The debacle in Washington over the deficit and debt limit. The downgrading of US sovereign debt by Standard and Poor’s. The inability of European nations to resolve the insolvency of Greece, Ireland, Spain, Portugal and Italy. The weakening of the economic recovery. It’s easy to feel overwhelmed.

To deal with the daily ups-and-downs, I focus on four things.

  • I know that MMBB’s investment strategy is sound. MMBB members have the professional expertise of the Investment Committee and our fund managers at their back. All of our investment options have impressive track records.
  • I take a long-term perspective. Just as stocks recovered from their 2008 low, I am confident that they will rebound from the current decline.
  • I take comfort that any money I add to my retirement account now allows me to purchase more units at comparatively lower prices and that these investments will reap the full benefit of the next recovery.
  • I keep my portfolio diversified. If you have chosen the Balanced Fund, the New Horizons Fund or a mix of our stock and bond funds you are already diversified. Because asset classes move independently, this smoothes out the ups and downs in your total return.

When I travel the country speaking to our members, I often say that MMBB walks with you in both good times and bad. Our goal is to make sure you have the resources to live comfortably with lifetime income. Our 100-year track record speaks to our success. MMBB knows benefits, investments and the challenges of ministry. If you have any questions about the advantage MMBB gives you in these difficult market conditions, please feel free to call a senior benefits specialist at 800.986.6222.

Sincerely,

Sumner M. Grant
Executive Director