Today, my favorite airplane image (above) represents landing in a remote vacation destination…
Just thinking about an upcoming or off-in-the-distance trip or vacation can create excitement and the feeling of anticipated relaxation. Travel can be a gift we give ourselves or travel may be necessary, as in to see family for a graduation or birthday celebration. No matter what, there are deep benefits to travel and vacations… and costs and intangible value to consider.
As this edition of TGIF 2 Minutes was written prior to the first US Presidential debate, one piece of the “proof” will already be in the pudding for readers post-debate on Friday morning. Though not much should matter to markets related to the debate.
For the sake of thought and discussion elections can matter to stock and bond markets in the short- to intermediate-term. Debates – and State of the Union speeches – may (and may not) matter in the short-term as well. Big-picture policies like taxes, healthcare (drug prices and insurance coverage), social security, Medicare policy, government spending and more… these are all mentioned in presidential debates and speeches.
Mid-Year is an important time to review several significant saving and spending decisions, possibly affecting taxes too. There are slightly over 6 months remaining in the tax year – enough time to make a meaningful difference. Consider:
These and other important decisions can be evaluated and adjusted with just over half a year remaining to accomplish goals or mini-goals.
In true TGIF 2 Minutes fashion, a short note today – with further thoughts to follow.
A week ago, I had the distinct honor to set foot onto “Omaha Beach” in Normandy, France to recognize the 80th anniversary of the Allied Troops storming that beach on June 6, 1944, in the name of (future) freedom – and potential success – for multiple generations of free people around the world. The experience and the trip surrounding the experience left an impression that will not soon wear off.
Today on the 80th anniversary of “the Longest Day”, a day that on June 6, 1944, played large in the freedoms our world enjoys to this moment, Thank You to the heroes of the Allied forces and their families for their ultimate sacrifice. May we never forget or take for granted our way of life.
God bless the memory of these D-Day heroes and may we pause in gratitude, giving true meaning to the phrase, “TGIF”, tomorrow.
This material has been prepared for informational purposes only and is not intended to provide, and should not be relied upon for, tax, legal or accounting advice.
Upon the unofficial start to summer and the Memorial Day holiday earlier this week, the phrase, “Sell in May and go away… but remember to come back in November” may be a historically uttered phrase. Perhaps the phrase had slightly more significance before super-diversified mutual funds, ETFs and indexes entered the picture, but there are still believers in the concept.
More pronounced are data combining the old “sell in May” theory with the 3rd year of a US Presidential cycle.* Although last year’s late year 2023 gains – so far – cannot touch the strength of 2024 which is the 4th year of a US Presidential cycle.
Hooray! TGIF 2 Minutes has entered its 11th year! It has been an absolute joy to hear from readers over the past 10 years and be part of your Friday morning cup of coffee or weekend reading time. For kicks, below is an excerpt from the very first edition in May 2014:
Good morning and TGIF,
In my efforts to give you Short & Sweet messages that make a POSITIVE difference in your LIFE, I am starting a “TGIF 2 minutes”. It will not be every Friday but when there’s something to say, it will be on Friday when you may have an extra 2 minutes in your day- or weekend- to read it. It will be worth reading! Please let me know your thoughts.
Markets prefer certainty. In times of relative economic certainty, market trends can be more defined and steadier. In times of economic uncertainty, markets react with volatility similar to the past 6 to 7 months. Two simple pieces of data:
Guess what might be one of the most painfully underestimated costs of all? If you guessed healthcare and end-of-life care you are correct. Read on for a handful of reasons why it can be dangerous to avoid addressing this topic.
First a brief introduction. Anyone who has been a direct or indirect care giver for an aging relative or friend knows the pain and stress that can be involved. Of course, there are joyful care relationships, which ultimately are the goal. Where the difficulty begins is in estimating the costs of later-in-life care. Then, even worse can be executing the logistics of care and the ultimate reality of having to pay for – or running out of funds to pay for – care, whether for oneself or a spouse or relative. Timing is often almost completely unpredictable.
It is possible to go through life without making a stupid decision about money. Said no one ever. The truer statement might be: everyone reading today has at one time made a stupid decision about or with money. Most people have made multiple stupid decisions about money and much more. The important part (possibly after difficult pain or regret) is to be able to answer the question: what lessons were learned?
Two weeks ago, a famous Nobel Prize winning psychologist, who spent his life studying the human mind and decision-making, died. Daniel Kahneman reluctantly accepted the title “economist” as he and his long-time research partner, Amos Tversky, wrote an amazing, internationally best-selling book, Thinking, Fast and Slow. Together Kahneman and Tversky were pioneers in the field of behavioral psychology. Along the way, behavioral psychology was applied to all sorts of economic and investing decisions and the two psychologists were consulted by business leaders around the world. Here are a few of the questions the two men studied over decades, with a few of their answers: Continue reading ““Stupid” Money Decisions”
