Champagne & William Shatner

Last week William Shatner – at 90, who knew?! – became the oldest person to achieve space flight. Completion of a 10-minute journey on the reusable New Shephard rocket, including four minutes of weightlessness, was cause for major celebration immediately afterwards.

But notable was that upon disembarking from the space capsule Shatner politely turned down taking part in the champagne shower amongst the crew, Blue Origin promotional people and members of the press.

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A Couple of Quick Notes

This note would be even better in a short video…so stay tuned for that version next week! In the meantime, a couple of quick written notes:

This week the “Energy Information Administration,” an actual division of the US government, warned that nearly HALF of US households who heat their homes with natural gas will pay 30% MORE this year, yes 30%, versus last year.* AND that if winter is 10% colder, then bills will go up 50%! If winter is 10% warmer, then bills are still projected to go up 22%. Can’t wait for that cold weather!

Nearly HALF of US households who heat their homes with natural gas will pay 30% MORE this year.

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Murphy’s Law is Expensive

One of the most critical factors of long-term personal financial success is… guess:

  1. The markets
  2. Spending
  3. Interest rates
  4. Stock selection
  5. Income level

And the answer is… SPENDING. This fact is why a truly competent financial planner will spend the most time on discussing spending, both today and future projected, along with GOALS (Goals are what people spend money on).

Things can go wrong at any time, therefore, count on one or more things going badly wrong along the course of a person’s life and financial life.

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Here’s to the 2021 Graduates!

With inspiration from the Archives of TGIF 2 Minutes… and in light of graduation season, it can be beneficial to celebrate the basics of personal finance for future peace of mind – both for ourselves and the kids, grandkids, nieces, and nephews who mean the most to us. 

College graduation may have been a long, long time ago or more recently – and experienced from the perspective of a parent, grandparent, or friend.

Inspired by last weekend’s graduation at the University of Notre Dame and “graduation season” in general, consider these pieces of financial advice that hold meaning for nearly everyone at every age:

Some financial advice holds meaning for nearly everyone at every age, not just recent grads.
Photo by Emily Ranquist on Pexels.com

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Money, Therapy, and Life

From the Archives of 2016… updated for the “Coronavirus Life Experience”.

Money and Therapy. Two things that people may love or hate. However, among other things, money and therapy help.

Recently I finished a must-read book for all ages – 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 in 2006 by Lee Eisenberg (long time editor-in-chief of Esquire magazine) but reads like he wrote it yesterday.

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The Biggest Winners

It is only fair that if there was an edition two weeks ago titled “Biggest Losers” there be an accompanying edition, “Biggest Winners.” Because there are A LOT of winners out there. But the financial and news media do not sell advertising talking about winners.

Here are the most obvious Winners, especially financially speaking:

Several of my clients and I painfully combed through their spending as part of the financial planning process. In most cases, these people came out with a greater awareness of who and what is most important to them.

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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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