This is a re-run of a TGIF 2 Minutes article that appeared in May 2018, with a few updates.
The following are from a recent article in the Journal of Financial Planning* – and they are not snoozers! In fact, several truly surprised me. Check ’em out. All from formal surveys.
It is nearing year-end and I cannot emphasize enough how important it is to double-check certain items NOW. The best financial advisers can and should be drawing your attention to these items in order to make your year-end easier and less stressful.
Here is a list of questions I review annually with clients:
Yikes! Now I am resorting to positive comments about the Bosox. Don’t worry fellow NY Yankee fans! It’s only to make a point about the markets and investing.
The season is Fall and that means it is World Series time. This year’s match-up features the LA Dodgers versus the Boston Red Sox, who now lead the series 2-0. The purely baseball fan in me read with excitement the news about Game 2 Wednesday night. The statistics for Boston read like a smart, steady investor’s style: “sufficient but not overwhelming.”* Boston’s 4-2 win contained zero home runs. Rather, they beat their opponent “on a collection of timely singles and one spectacular catch.”
After the recent mid-week big down moves in the US and global stock markets AND if you are a long-time reader of TGIF 2 Minutes you are most likely expecting a “stay the course” message today.
The bottom line is: Stay the course. Technically you can stop reading here and go onto your Friday and weekend. How about that for a record 15 second edition??!
Here is the remaining 1 minute and 45 second version:
This edition of TGIF 2 Minutes originally ran on February 16, 2018 just after the (now) temporary 12% decline in the Dow Jones, which ended as a 6% decline for the month.
Typically, I do not get too far “into the weeds” of technical terms in my TGIF 2 Minutes messages. However – this has not been a typical last two weeks in the markets – at least not “typical” as defined by the past several years of gradually UP markets (and portfolios) month after month. Thus, a short walk into the weeds to talk a little about inflation is warranted – and may shed light on the volatility we have experienced lately with more likely to come over the next months and year or so.
See this visual of a rocket launch* – and not just any rocket launch, the Falcon Heavy launch as photographed by a friend of mine with years of clearance for NASA rocket launches – as an appropriate comparison to what inflation can look like. Continue reading “Inflation Revisited”
T = THANKS. TGIF stands for “Thank God It’s Friday.” I cannot proceed without saying a truly heartfelt THANKS to all of my clients, friends and readers who inquired as to mine and my husband’s well-being prior to and amidst Hurricane Florence. It blew me away (no pun intended) to know that so many people were thinking enough of me to call, email or text all weekend long to know that we were OK!
If it is “TGIF” that is a good thing. Let’s have a little fun here.
What is your current mindset, financially?
If that is a difficult question to answer right way – or even if not – check out a useful tool: “The Retirement Mindset Scorecard.” Even if retirement is not your primary concern today, the Scorecard is still relevant and helpful!
There are 8 categories to Financial Mindset, as we see it:
This edition is dedicated to the loving memory of my father-in-law, Mickey Debbs.
Lots of things in life are learned or really hammered home only during or after a sad event. While there are still lots of lessons learned amidst happy times.
Recently I experienced the tremendously sad and sudden passing of my father-in-law. Note the word “sudden.” Most of us say out loud regarding death, “I want to go fast!” Or, “I don’t want a long and drawn out death.” But really, we have no idea. What if it is sudden?
“TGIF 2 Minutes” was never meant to simply report current events. Rather, my intent is to highlight topics in personal finance – or a current topic – that affects your financial life and decision-making. BUT (there is always a “but”) certain pieces of news affect our mindset – both positively and negatively – and if I can comment on how to avoid letting the news sway you too far either way financially-speaking, then I believe it worth commenting!
ECONOMIC TIMES ARE GOOD! This week the revised U.S. GDP report (the key measure of economic growth) revealed a strong, strong US economy. There is a reason I am mentioning this news as it relates to our mindset for making all sorts of major spending and savings decisions – decisions for us, our families and businesses in the short-term and longer-term.
As we sip our coffee and start our weekends or workdays there is a group of economists, Federal Reserve officials and finance ministers from the U.S. and around the world gathering in Jackson Hole, Wyoming for three days. Why is this worth mentioning?
