Happy Labor Day weekend!
Work hard, play hard has become a common saying. Labor day is a time to honor all the labor that has and continues to build our country. So take a break and enjoy the fruit of your labors!
All labor that uplifts humanity has dignity and importance.” — Martin Luther King Jr.
Market Update
After hitting new records, the markets have been moving sideways to slightly downward for the past few sessions.
On the plus side, second-quarter earnings have been stellar. NVIDIA, in particular, blew the doors off estimates last week. The rally had broadened out with small caps enjoying a resurgence.
There are still concerns (and maybe rightfully so) about AI possibly being the next bubble to pop. Not saying that will happen, but it is something that is on our radar. We are actively diversifying our portfolios with great companies who are not AI dependent. In fact, a few of those companies are up almost 40% on the year! Want to learn more or see how heavy your portfolio is invested in tech? Just hit reply or give us a call today!
Strategy Spotlight
September is Life Insurance Awareness month, so over the next few weeks we will share some little known ways life insurance should provide you living benefits! HMMMM!!
But first, here are some of the benefits of Life Insurance
- Creating Financial: Knowing that your family’s financial future is secure, be that in the event of death or needing Long-Term Care (yes you heard that right!)!
- Legacy Planning: Life insurance can be a tool for leaving a lasting legacy for your loved ones or supporting a cause you’re passionate about.
- Funding Dreams: It can fund dreams like college education for your kids, retirement plans, or even starting a business.
- Protecting Your Business: For business owners, it can help ensure the continuity and success of your enterprise.
- Tax Benefits: Life insurance can provide certain tax advantages that help your money grow over time.
Every individual and family is unique, and so are their life insurance needs. Often overlooked is the need for young families to have protection with life insurance. Maybe this would be a time to ensure your kids and grandkids are protected in the event of a tragedy. Don’t be afraid to have this conversation in love with those you love!
In The News
Americans Without Children Are Less Confident About Retirement, Allianz Life Study Finds
The article highlights:
- The article says Americans without children are less confident about retirement than Americans with children.
- Only 54% of people without children feel confident they will meet their retirement savings goal.
- By comparison, 72% of Americans with children feel confident they will meet their retirement savings goal.
- Among parents, those with one or two children are more confident than those with three or more children.
- The article says people without children are less likely to have a written financial plan.
- 62% of Americans without children do not have a written financial plan.
- That compares with 42% of Americans with children who do not have a written financial plan.
- One expert says parenthood often forces people to have tough conversations about money and planning.
- The article says people without children may move forward financially without a clear strategy.
- 61% of people without children say they are so focused on day-to-day expenses that they cannot even think about saving for retirement right now.
- 71% of people without children worry that the rising cost of living will keep them from enjoying retirement.
- 66% worry they will not be able to afford the high cost of long-term care.
- 54% worry that rising housing costs will limit their ability to save for retirement.
- Parents may feel more confident, but many still say things like education costs and childcare expenses make saving harder.
- The article says nearly 48% of Americans considered retirement-saving challenges as an important factor when deciding whether to have children.
- Millennials were more likely than Gen Xers or boomers to consider retirement finances when thinking about having children.
The main takeaway is that whether or not someone has children, having a written financial strategy (a retirement plan) is one of the most important things they can do for their future security. This is why we created our Dream Retirement Process
Americans Are Playing It Safe With Their Money, Northwestern Mutual Study Says
The article highlights:
- 71% of respondents would rather reduce risk to protect their finances, even if it means accepting lower potential returns.
- 43% have become more risk-averse over the past 12 months, compared with 31% who have become more comfortable with risk
- The study found that the younger generations also consistently lean toward “a greater willingness to trade stability for potential upside.
- The goal is to understand which risks are worth taking, how much exposure is appropriate, and what protections need to be in place.
As retirement approaches and into retirement, we find that most people want more “safe” money, more protection in the portfolios. From Red to Green money, that is what we do!
With green money right now you can make up to 10% a year with zero downside market risk! In our annual review, we are seeing returns consistently around 6-10%. There is even an option with these type returns and CD like liquidity.
Just for Fun
Dad Joke of the Week:
How many apples grow on an apple tree? All of them!
This Week in History
1504 – Michelangelo’s statue of David is unveiled to the public
1776 – Congress renames the nation “United States of America”
1956 – Elivs Presley makes first appearance on “The Ed Sullivan Show”
1992 – Mae Jemison becomes first Black woman in space
2022- Queen Elizabeth II dies; Charles becomes King
What Did it Cost? (Lettuce – one head)
1985- $0.40
1995- $0.80
2005- $0.88
2020- $1.25
2026- $1.75