Many of you who don’t work with us probably think it’s normal to accrue somewhere between .25 percent and .75 percent on your emergency fund, and that it’s normal to have bank IRA CDs that recently rolled from 1.25 percent to .25 percent. When we ask new folks why they think this is normal, the response is usually, “That’s what the banker told us.”
As you know, the Federal Reserve raised interest rates recently, and we’ve gotten several questions from clients wondering how this could potentially affect their financial plan. The answer is that it could, and there are three areas within your portfolio to consider as interest rates are rising.
Whether stocks or teams, it’s best not to put all your eggs in one basket.
With at least 13 million brackets submitted through ESPN alone and Las Vegas bookies expecting between $200 and $225 million wagered just in the state of Nevada during this year’s NCAA tournament, well, the madness is in full swing!
Our team may be different from other advisors you’ve worked with. Here’s why.
Whether you’re a client at Family Financial Partners or you don’t work with us yet, you may have noticed that our team approach looks a little different than other financial planners or advisors. First and foremost, what sets us apart and makes us unique is that we have a team of folks who are truly all in this together. Typically, within many other practices, we find that advisors are siloed, in that they have their own book of business, and they don’t share clients or work within client accounts that aren’t primarily the folks they deal with.
One thing I hear periodically as a financial advisor is, “I wish I had enough money to invest and work with you.” What I always tell these folks is to start with what they can control, rather than focusing on what they don’t yet have or can’t control. The best time to start saving is today.
Have you noticed recent ads in the newspaper, or at your local bank branch, for CDs lately? We’ve seen that rates are on the rise, and wanted to pass this information along to you, our valued clients (and prospective clients!).
We’ve had several new clients come on board recently, and I always hear a few new questions from folks as we start our relationship and planning process. “Alan Greenspan was just on the radio saying we’re heading towards another bubble,” one client recently told us. “What do you think, and how should we protect ourselves?
We’ve been in the financial planning business for nearly two decades. In talking with friends and prospective clients, I find that even now, many people aren’t aware of everything a financial planning team does. “You’re just stocks and bonds, right?” is something we hear a lot.
In speaking with many of you recently, you’ve been telling me, “Hey Dave, it’s summer. I don’t have time to read your thoughts every week.” That’s cool, I understand. For those of you feeling pressed for time, click here for the executive summary of this week’s Thought from Dave.
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