David Smyth, Author at Family Financial Partners

The Joys of Summer: How much should you really spend on that vacation?

I love summer because we have all these opportunities for how we can allocate our newly found free time, but I find when I talk with clients that summer can also be a stressful season. There’s always the pressure to plan that big vacation that we can forget to budget for it and end up paying for that vacation for the next six months. In my case, I’ve got three kids doing camps and getting braces and moving into dorm rooms — there isn’t much money left for the “what Dave wants to do” fund!

June 15, 2023

With the debt ceiling looming, are your assets diversified?

I’m hearing from a lot of you who are concerned about the debt ceiling battle in Washington and what it might mean for you if the two sides can’t come together on a deal before the U.S. defaults on its bills.

In my view, the whole rodeo is being blown out of proportion by the media as it floods us with what-if scenarios. There is a history of presidents having to work with a hostile opposition party in Congress when up against the debt ceiling. The only solution is for both parties to agree to raise the debt ceiling and then focus on a truly balanced budget.

May 18, 2023

Tending your financial garden: How hard work today will let you flourish when it counts

So much of gardening is the hard work and growth that takes place underneath the soil — feeding and nurturing our plants so they can build strong roots that will sustain them long after our work is done, allowing us to sit back and enjoy the fruits of our labor. Nobody ever comments on the roots, on the quality of the soil, or on the weeding we did that gave them room to grow. All they see is the beauty that lives above the dirt — the finished product.

May 11, 2023

An eventful Q1 signals big changes in the markets. Where do you stand?

Sometimes the best-laid plans don’t work out as you expected. My mother always said, when things don’t go your way, consider the “why.”

I believe that the Federal Reserve would do well to consider that message. We’ve just gone through a banking crisis caused in part by the Fed aggressively raising interest rates, which resulted in the closure of one of the largest banks in the U.S. and the sharpest decline in commercial lending on record. In the meantime, wage inflation and housing costs remain stubbornly high, while unemployment is historically low.

April 14, 2023

It’s March, so make your picks — on employee benefits

Nobody’s benefits renew in March. March is pretty much the opposite of benefits season. Many of you are just waiting on the fall email from your employer that reminds you to check your benefits and see if something has changed — marital status, number of children, medical history — as well as instructions on how to make changes to your package. If nothing significant has occurred, you probably just check the box to keep everything the same. It’s easy.

March 15, 2023

With all this market turbulence, is the plane going to land?

“Buckle up, folks — we’re about to experience some heavy turbulence.”

Why do I bring this up now? Because folks, we’ve experienced some heavy market turbulence lately, and while the skies are a little calmer right now, my guess is that we have more to come before this plane lands. But I’m an experienced flyer, and let me assure you, this is no time to get panicky with your portfolios.

February 23, 2023

This Valentine’s Day, give the gift of a lifetime

As a financial planner, I’ve learned over the years that there is no greater asset than that of human life. I’m reminded of that whenever I see families go from tying the knot to starting a family, from becoming empty nesters to retiring, and finally to celebrating life. We’ve been blessed to walk alongside our clients’ families during each of those steps and celebrate life’s milestones, happy and sad.

February 14, 2023

Dave’s Inbox: Should I stop contributing to retirement during the bear market?

I keep track of the many questions I receive from client families about their financial pictures, and I wanted to address two of those questions that have come up quite a bit recently regarding retirement accounts in a down market.

February 1, 2023

After a 2022 downturn, hope springs eternal in 2023

2022 was truly an awful year as the Federal Reserve began its interest rate hike policy in an attempt to battle inflation. Speaking of inflation, I know that many of you have been frustrated by the higher costs associated with financing a new home, purchasing a vehicle, or trips to any retailer. Inflation, measured by the Consumer Price Index, rose by 6.5% in 2022.

New year, same problems.

However, there are several pieces of good news.

January 19, 2023

Your Financial Personality

As everyone is thinking about financial perspectives and priorities during the first weeks of the new year, we encourage client couples and families to ask themselves a few lifestyle and values questions that will help them determine their approach to money – and help us in going over their budgets and goals. No two clients are alike, and lifestyle goals are as varied as the people we work with.

January 4, 2023

Author: David Smyth

The Joys of Summer: How much should you really spend on that vacation?

With the debt ceiling looming, are your assets diversified?

Tending your financial garden: How hard work today will let you flourish when it counts

An eventful Q1 signals big changes in the markets. Where do you stand?

It’s March, so make your picks — on employee benefits

With all this market turbulence, is the plane going to land?

This Valentine’s Day, give the gift of a lifetime

Dave’s Inbox: Should I stop contributing to retirement during the bear market?

After a 2022 downturn, hope springs eternal in 2023

Your Financial Personality

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