I don’t know how you all have fared, dear readers, but here in New Hampshire, it’s going to take a while for our accumulated snow mountains to subside. The photo provided is a view from my front door, showing the natural artistry achieved when stiff winds blew over my yard; notice also the paw prints left by my intrepid rabbit neighbor (I thought he wouldn’t venture out with such deep snow but I was wrong), who comes in the evening to eat the carrot I leave out for him.

Each winter I say to myself “this is a great time to hunker down and get caught up with long-delayed tasks,” although I have not always followed through on that thought. This year I’ve done much better on that front, if for no other reason than the snowfall was so considerable. When it all melts will it make for robust growth of foliage and flowers come the spring? I hope so.

As for the annuity business, I think this spring – or better said, the second quarter – ought to tell us a lot about its prospects over the near term. Is the record sales pace the industry has achieved in recent years sustainable? Will lower interest rates put a damper on things? We should find out in the next few months.