Whether it's a tropical beach getaway, an adventurous trek through the mountains, or a cultural immersion in a foreign city, we all have dream vacations on our bucket lists. But how do you turn these dreams into reality without breaking the bank?
Here are some insights and strategies to help you plan and save for your perfect vacation.
Many of you may not remember The Twilight Zone, a Sci-Fi TV series from the early 60’s, created by Rod Sterling. I have vague memories from watching reruns as a child. One episode stuck with me. It was about a neurotic older man who was obsessed with organization and detail; to the extent it drove him crazy, and he ended up in a mental institution. He kept muttering, “a place for everything and everything in its place”.
Losing a spouse is undoubtedly one of life's most challenging and emotionally devastating experiences. The grief and emotional turmoil that follow can be overwhelming. Practical matters like financial stability may seem insignificant at the time, but they are crucial for the long-term well-being of the surviving partner.
Managing wealth is especially complex and challenging for high-net-worth individuals (HNWI).
To effectively navigate this landscape, you’ll need a strategy and an investment philosophy grounded in sound academic principles, cost-consciousness, tax efficiency, and the guidance of a qualified financial advisor.
Last year at this time, we wrote about how you can choose what to focus on when reflecting on calendar year performance. 2022 had been a horrible showing with stocks falling into a bear market (driven by the “magnificent seven” stocks, down an average of -45.2%). Bonds were not far behind, reaching an intra-year low of -17% and ending the year down -13%¹. Those headlines dominated the narrative, with many proclaiming the “death” of the balanced portfolio (often referred to as the “60/40” due to target weightings in stocks/bonds).
Navigating the world of financial planning can be confusing and overwhelming. Financial advisors offer various models and compensation structures, making it difficult for consumers to make an informed choice.
Two popular models are the commission-based and fee-only models. However, when it comes to transparency and unbiased advice, there are advantages to fee-only financial planning, which provides much-needed clarity in your relationship with your financial planner.
Navigating the intricacies of the financial world to maximize returns and minimize risk is a task that requires knowledge, competence, and a reasonable approach.
Here’s how they can help.
We can’t help the strong mix of negative emotions the headlines create from many different perspectives. As humans, we feel empathy and grief given the very real suffering caused by the wars in Ukraine and now Israel and Gaza. As citizens, regardless of which side of the aisle our political views sit, we feel sad to see the House of Representatives without a leader for the first time in history. And as investors, if we only read the headlines and the underlying articles in our major news outlets, we feel panicked because it seems as if there’s never a good time to invest given all the uncertainty.
As we review the first half of 2023, simply speaking, it’s hard not to be pleased by stock and bond market returns. Taking a few additonal moments to consider the sentiment entering the year after negative returns in 2022, including the expectations of both economic and corporate earnings recessions, (not to mention the unanticipated regional banking crisis and debt ceiling negotiations!), we can easily move from anxious to pleased to relieved. Generally, economic and corporate earnings data have been better than expected – let’s dig deeper into the details to identify the key takeaways.
