The big story in the middle of the week was Nvidia. Earnings came in better than expected, which gave markets a boost heading into the holiday weekend. It’s a good reminder that corporate earnings still matter, even when other headlines are heavy. (Side note, we have seen multiple portfolios lately very overweighted to Nvidia. While this is fine when all is well, it is not a good approach for risk management nearing retirement, as a stock like this could easily see a 30-50% decline. In fact, Nvidia experienced a 35% drop between January and April 2025 due to tariff concerns. We hold this company, but we have some risk management strategies protecting the position; it is not over-weighted. Instead, we take gains off and use them for other opportunities. If you want to find out if your portfolio is overweighted to this or any position, we can do a stress test and portfolio review. Give us a shout!)

On the geopolitical front, Iran negotiations remain at a standstill, with no real breakthrough in sight.

Kevin Warsh was officially sworn in as the new Fed chair, which raises some interesting questions about where interest rates go from here. For now, the Fed is expected to hold rates steady – but that could shift once the Iran situation settles and oil prices drop.

Markets are still showing resilience, but there’s also plenty of uncertainty ahead. As always, we’re watching these developments closely and making adjustments as needed in all the accounts under our management.

In The News

Hard Financial Truths Boomers Must Face

This Yahoo Finance article highlights:

·       Social Security benefits have lost about 20% of their buying power since 2010 because annual cost-of-living adjustments don’t fully cover the high healthcare costs retirees face.

·       The Social Security trust funds are projected to be depleted by 2034, which could result in an automatic 19% benefit cut if Congress fails to intervene.

·       The traditional “4% rule” for withdrawals is being reconsidered, with experts now suggesting a lower 3.7% rate to help ensure savings last 30 years in a volatile market. (We, however, are confident of a 6% withdrawal rate in retirement and have room to grow! Find out how here)

·       Healthcare is one of the highest and most unpredictable costs, with the average 65-year-old today potentially needing hundreds of thousands of dollars for out-of-pocket expenses.

·       Retiring early at age 62 can result in Social Security benefits that are 30% lower than waiting until the full retirement age of 67.

·       Medicare eligibility doesn’t start until age 65, which often means high private insurance premiums for those who choose to leave the workforce early.

·       Confidence in retirement savings lasting jumps from 41% to 71% for those who work with a professional financial advisor.

We have clients who retire before full 65 or full retirement age often and are confident in retirement! That’s why we created the Dream Retirement process.

What Every Retiree Needs to Know About Social Security in 2026

• Social Security benefits are safe for now — but the program faces a critical funding shortfall within the decade due to millions of Baby Boomers exiting the workforce and fewer workers supporting each retiree. The worker-to-beneficiary ratio has dropped from 4:1 in 1965 and is projected to fall below 2.5:1 by mid-century.
• Written in plain language for everyday retirees, this article covers the insolvency timeline, the potential 23% benefit cut
• The emotional weight of this topic is real. Retirees living on fixed income don’t just want data — they want a plan.
• The nonpartisan Congressional Budget Office updated its projections in February 2026: the Social Security Old-Age and Survivors Insurance trust fund will be depleted by 2032 — a full year earlier than previously estimated, affecting over 62 million Americans.
• Without congressional action, current law would trigger an automatic 28% across-the-board benefit cut when the fund runs dry. A typical couple retiring around that time could see more than $18,400 stripped from their annual income.

If this has you worried, we can talk. This is the reason why we look to maximize your total income plan vs just maximizing Social Security. For those not taking Social Security yet and planning to retire, this has to be part of your retirement income plan.

Just for Fun

Dad Joke of the Week:

I was making a joke about retirement. It didn’t work!

Say What?

Lettuce introduce you to the live frog found in this grocery store salad bag.

When Australian farmer Rhys Smoker announced he’d found a live frog in a bag of lettuce, his housemates didn’t believe him.

Smoker had been preparing a steak and salad dinner on Saturday for the three people who share his house in Esperance in Western Australia state when he spotted the frog among the leaves inside the sealed plastic bag he’d bought from a supermarket, housemate Laura Jones said on Tuesday.

“He’s like, ‘Oh Bro, there’s a frog in the lettuce.’ And we’re like, ‘No, you’re taking the mick, like that’s not real,’” Jones told AP. Taking the mick is a slang term for attempting to fool someone.

Smoker brought the bag into the lounge room to show Jones and her partner Billy Le Pine.

This Week in History

1868 – Civil War dead honored on Decoration Day, now known as Memorial Day

1919 – Congress passes the 19th Amendment, paving the way for women to vote

1935 – Babe Ruth Retires

1965 – First American astronaut walks in space

1980 – CNN Launches

What Did it Cost? (2 Liter Coca Cola)

2005- $1.09

2025 – $2.79