Life – TGIF 2 Minutes with Kerrie Debbs, CFP

“Dog” Days of Late Summer

“Man’s or Woman’s Best Friend”. At a time when true friends have proven to be more valuable than ever, it seems getting a dog is something a good number of people and families do. Long-time dog lovers seem to agree that dogs can bring true happiness to unbearable situations. The saying, “if you want a friend, get a dog” has been around for years, even in the movies. “Dog benefits” range from personal joy to family togetherness…with a good deal of responsibility mixed in.

While a dog can turn out to become a true best friend, the “getting a dog” decision is a BIG one and not to be taken lightly. Considerations are several:

Continue reading ““Dog” Days of Late Summer”

From “AI” to Fresh Brewed Coffee

Simply thinking about coffee can get a person’s morning moving in a positive direction. In this case, AI nearly brewed the coffee.

Last week’s TGIF 2 Minutes featured compelling details about the use of AI, or Artificial Intelligence, by individuals and “normal” people. The majority of reader feedback was positive – and led a number of folks to try an AI assistant for the first time! A handful of perceptive readers expressed lingering hesitation about the potential dangers of AI in general. Understandable.

Continue reading “From “AI” to Fresh Brewed Coffee”

When It’s Time For A Break

A wise client once told me, “Know when it is time for a break.”

With Superbowl LIX in the books and other national events having slowly passed – and another snowstorm on the ground – it may be time for a short break. And by the way, I recently had minor eye surgery that requires me to be sidelined for 10 days, through around February 22nd.

With that, please know that if you are a client reading this note, you are in excellent hands with my colleague, Mary, AND my team at Main Street Financial Solutions. Please email both me and Mary and our OOO (Out Of Office) messages will give instructions, if needed, for contacting a team member at Main Street Financial Solutions.

And it is Valentine’s Day, so a solid reason to take a break and do something fun with the person or people whom you love the most! The markets and the world can wait sometimes. Family, faith, real life and health are what matter.

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.

AS ALWAYS, thank you for reading and TGIF!

Hurricane Season

Hurricanes can come in various forms. Whether they be the recent Ian and Nicole or the staggering Sandy of 2012 they tend to strike in the fall season. Also, in the fall come U.S. elections and historically a bit of stock market volatility. Like the weather, markets are anything but predictable. Elections can lend themselves to predictability but there are always surprises too.

This year has had a mix of all these factors. Currently amidst high inflation the stock and bond markets are trying to digest an environment of much higher and increasing interest rates – exactly how much higher is an unknown. Also unknown is the post-election reality of future policy making in Washington, DC. Interest rates are “driving the economic bus” for the time being, and government policy making will be an ongoing force running alongside. Both will affect the markets in positive and negative ways over time.

Getting through hurricane season can be a relief – but only if it is known that the storm is over. Is the storm over or getting close to being over, and where does all this leave investors and savers?

Continue reading “Hurricane Season”

Financial Advice & Family

The subject of family can apply to various aspects of financial planning. And although sensitive, there could be an entire TGIF 2 Minutes series on family and personal finance. On a positive note, and more specifically for this week’s edition: I hear often from financially comfortable – and confident – clients and friends about basic, treasured personal financial advice they received from a family member – most going back 20, 30, even 40 or more years ago!

Mixing family and money can get sensitive quickly. But over years of observing, there have been far more positives than negatives for those who were willing to step back, look at the bigger picture and accept solid, basic advice. Humility was involved. Patience is necessary. These are not my opinions but rather real pieces of feedback from people who are grateful they took certain, basic advice from a wise family member at some point earlier in life.

Financial advice from a wise Mom, Dad, Grandma, “Uncle Pete” or “Aunt Claire” can make a lifetime of difference.

Continue reading “Financial Advice & Family”

What’s Important NOW?

Lately it seems that reaching Friday is a goal in itself. In markets like these it is not easy to “keep calm and carry on” as if there is nothing different going on. There are, in fact, multiple very different things going on. The coming weeks and months may bring even more different events and uneasiness – with a bit of good mixed in.

So, then the question becomes, “What is important NOW?” It may be tempting to answer:

Federal Reserve policy on interest rates
the coming November elections
mortgage rates
the level of inflation
energy prices
the US and world economies.

Continue reading “What’s Important NOW?”

End of an Era?

Just as this week’s TGIF 2 Minutes goes to press, the news of the passing of Queen Elizabeth II, the longest reigning monarch in British history, is hitting the airwaves. God bless the royal family in their mourning of an amazing woman!

The “end of an era” closer to home is the end of 3% 30-year mortgage rates. Does this mean it is time to put off a home purchase? The simple answer is NO. The longer answer is, NO, IF. The “if” stands for:

Today’s 5%+ mortgage rates are more normal and reasonable in the longer-term picture than the media is making them out to be.

Continue reading “End of an Era?”

The New Car Conundrum

Shorter post today – the summer weather is HOT! And car purchasing decisions can make a person sweat, or not.

Last July, yours truly bought a new car – after 16 years driving the same fully-paid for car. The old car was purchased as a certified pre-owned (back when CPO saved tens of thousands of dollars); the new car purchase last year was a brand-new car from a dealership. There were “those people” who commented, “Why buy a car now (last July) amidst high prices for new and used cars? Why not wait for prices to come down?” There were valid reasons to ask those questions. But looking back, the decision was a wise one and has stood up amidst full-on, continuing high inflation.

When the time comes to replace an older vehicle, even inflation may not hold up as the most valid reason to delay the purchase.

Continue reading “The New Car Conundrum”

Can Walking Make Us Richer?

Long walks and successful long term financial & life goal setting go hand in hand. Lots of people have zero interest in long walks but even a walk to the mailbox can turn into a long walk – so stay with me here. A recent, rather long walk on the Camino de Santiago in northern Spain (pictured) taught me life-changing lessons about goal setting. Namely,

There is no truly right or wrong way to formulate financial or life goals. Yes, goal setting is easier when pen & paper are involved, but the process is more about quality of thought (meaning being honest and open with oneself) than any set of “rules.”

There need not be a rush to set financial, business or life goals. Although starting sooner rather than later can help – and momentum will develop on its own. The list of goals may then turn out longer and more exciting than ever imagined! (Dreams can become goals too.)

Accomplishing goals in a quality way becomes a series of decisions made along the way – seemingly small decisions and larger, more serious-feeling decisions.

A walk, short or long, can give space for free thought by separating us from the stress of beeping appliances, phones, laptops – even briefly from bosses and colleagues.

Continue reading “Can Walking Make Us Richer?”

Looking Back On… Money & Therapy

Money and Therapy: two things that people may love or hate thinking about. However, among other things in life, money and therapy help.

About five years ago I read a must-read book for young and old, wealthy, or building wealth, married or single. Anyone who wants to have a “life” someday… or even have a life NOW. The book is called The Number* and was written by Lee Eisenberg nearly 15 years ago but reads like he wrote it yesterday.

Here are several of the chapters:

“Welcome To Numberland”
“Debt Warp”
“Alone At Sea”
“Covering Your Assets” (nice play on words)
“Night Sweats”
“Deep Breathing”
“Bottom Lines”

All of these topics could be covered in conversations with friends, or by reading The Number, explored in a therapy session… or all 3! I recommend all three (and the therapy session could be with your financial adviser – because a real financial adviser makes this conversation mandatory.)

Continue reading “Looking Back On… Money & Therapy”