So many of you express that as clients you are invested in us personally and you want us to succeed. We can’t help but to be humbled and appreciative. We want to live up to that.
That is my phrase for 2024 “Do more of that!” And by “that” I mean what feels good, what is working. In order to know what feels good and what is working, you have to notice.
We see some storm clouds gathering as “higher for longer” interest rate era plays out. Over the past 3 months, we have had an enormous selloff in long term fixed income.
The real-world situation is not bad. Growth actually seems to be picking up at the moment. We have a bit over 2% GDP growth this year. However, we’re highlighting some of the risks in the environment over the coming year.
You can be extremely smart and have a hard time learning new behaviors. In this book, Morgan Housel tells stories to help us rethink how we interact around finance, 19 of them. It is important to know our own money story as it heavily influences our behaviors around money.
When it comes to our finances, we usually take action in response to life happenings and experiences. We have a bill to pay. We change jobs. We move to a new location. Life is in constant motion. It is happening to us, right? What if we are proactive with our planning instead.
For clients to sit down with us and work toward their financial goals, they must be motivated. We all have different levels of knowledge about finance. We have varying backgrounds that allowed or disallowed open discussion about financial issues. My goal is to create an environment of trust and open dialogue, help educate and build knowledge around personal finance and help break the chain of avoidance.
As retirement planners, in the ideal scenario, we suggest you have multiple sources of income and that some of it is guaranteed. The retirement plan industry agrees and they are taking steps to move in that direction.
Did you know our firm utilizes Riskalyze, the world’s first risk alignment platform, which mathematically pinpoints how much risk investors want, how much risk they currently have in their portfolio, and how much risk they need to take to reach their goals?
I have been thinking a lot about agency lately. Oxford Dictionary defines it as “an action or intervention, especially such as to produce a particular effect”. A sense of agency refers to “the feeling of control over actions and their consequences”.