Women, Men, Long Lives & Money

Married, Single, Divorced or Widowed – women tend to live longer than men. There are also new statistics of how mentally sharp and physically fit women stay longer into life. Why is this important? If you guessed that these facts mean that women need to save and invest more then you guessed right. Men AND women, please keep reading!

joyful adult daughter greeting happy surprised senior mother in garden
Women need to build an awareness of saving both on their own (married or not) and together with a spouse if married.

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The Corona Purchase

This past week, at a neighbor’s drive-by 11-year old birthday gathering, I learned a new term: The Corona Purchase. The term refers to money spent on a larger one-time purchase amidst the sadness of being forced to stay home for the past three months. The concept also confirms an observation mentioned in a recent edition of TGIF 2 Minutes about families experiencing lower spending overall the past several months – so therefore possibly accumulating extra savings here and there.

Items reported to have been purchased or installed include:

  • Cars
  • Boats
  • Home gyms
  • Swimming pools (think: kids missing swim teams)
  • Outdoor landscaping
  • Small- and medium-sized home remodeling projects.
close up photography of white poodle
“Corona Purchases” may have added value to a home or saved money or monthly expenses in the long-term (in the case of a home gym) which is positive.

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Silver Lining to Spending

Quick note for your weekend thoughts.

As difficult as it has been to find a silver lining to the pandemic, there have been one or two recurring themes that could be classified as positive, or at least opportunistic. One theme is that a fair number of people with whom I have spoken have reported far lower overall (or at least discretionary) spending in the past couple of months compared to “normal” times. Think:

  • Going out to dinner & drinks
  • Travel… whether weekend or vacations
  • Hair color & hair cuts
  • Nail salons
  • Massage & spa appointments/memberships
  • Traditional Gym memberships
  • Kids’ camps & activities
blue and white sorry we re closed wooden signage
As long as we are stuck with the coronavirus for a little while longer, there are ways to use this time to come out on the other side smarter and more aware of spending

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Three Factors at Work in the Financial Market

Lifestyle, goals and spending are what drive a successful investor’s attitude in volatile markets.

Whew! What a stretch in the markets. During record-breaking volatility both UP and DOWN I have been on the phone continuously with clients and friends for 2-3 weeks. The BEST part is that 99% of the phone calls have been positive in confirming:

  • Goals
  • Asset Allocation
  • …and various conversations about beverage of choice.
person using macbook air on table
Lifestyle, goals and spending are what drive a successful investor’s attitude in volatile markets.

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Investing After A Great Year

It is still early in the year – there is still plenty of time to evaluate how to start or tweak a savings and investing plan. In fact, it is ALWAYS a good time (January, February, March, July, October, December…) to evaluate savings and investing. But after the amazing past year and decade in US and global stock and bond markets, it may cross your mind to say,

  • “Should I wait to invest?”
  • “How can markets keep going up, up, up?”
  • OR,
  • “I need to jump on the bandwagon here!”
  • “Growth stocks are the way to go! I have stock ideas!”

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The $1,100 Cell Phone

Cash flow. Wouldn’t you like to have more of it around tax time? Well then, it may be time to delay or reconsider that new cell phone purchase.

man holding brown leather bi fold wallet with money in it
Photo by rawpixel.com on Pexels.com

Recently this “sticker shock” issue came to the forefront for me when I forked over $1,100 for my new Samsung Galaxy Note cell phone. OK, you may say, “Why didn’t you go with the zero-interest payment plan?” or, “Where have you been, Kerrie?” To which I would respond,

  1. I did not go with the payment plan despite it being zero interest because I am all about having as much free cash flow as possible (therefore minimizing annoying monthly payments) and as little debt (except a mortgage) as possible.
  2. I realize that back in 2017 the $969 iPhone 7 Plus came into being. So, I delayed purchasing a new phone and eeked out as much as I could with the old phone until it essentially ran out of memory and could no longer function as needed.

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14 Numbers That May Surprise You

These are from a recent article in the Journal of Financial Planning (May 2018) – and they are not snoozers! In fact, several truly surprised me. Check ’em out. And I did not make them up – these are all from formal surveys.

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Let the Good Times Roll

“Let the good times roll.”  I am partial to this expression because my Dad used to say this a lot either as a toast or a statement when things were going well.

As I look at the last few years’ markets, the current economy and the lives and businesses of my clients the expression definitely applies.

Let the good times roll!

Concert

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