3 Things I'm Thinking About:

I’m struck by how often we and the financial planning process gets stuck in a linear understanding time. 〰️  While we can never stop the linear from occurring and it’s important… there’s also a circular understanding of time. ⭕️   Think: right place & right time. Opportunity striking. That’s why, as part of our process, we invest in good questions with our clients that allow their opportunities to align ⭕️ and then shape out 〰️ a timeline for their money. Because starting with 〰️ and not giving ⭕️ space leaves people doubting themselves and lessening their impact with this one wild and precious life. What are you ready for now that you wouldn’t have been ready for three years ago or even last year? 
 
Interest rates have risen over the last year. It creates financial opportunity for money that has a short-term use. If you haven’t considered moving excess money out of savings or checking and into a money market now, it may be time. Certificates of Deposit are great too, other than you have to decide how long you want to lock money up. Money markets are more open ended for those decisions that lack a specific timeline – they sound like “maybe I’ll buy a house in 3 months or perhaps we’ll wait 2 years.” This is a simple thought – but in my tenure in financial services (about 15 years), this is the first time in nearly that whole timeframe that money markets have had benefits worth raising an eyebrow at, other than just facilitating your portfolio rebalances and income distributions. 
 
 
Tiffany, our Senior Client Services Manager, found a bubble wrapped bag with a handful of rocks in our back room. Witty banter around the office ensued “what’s so great about these tender rocks?” “We better make sure these rocks have a safe resting place on our supply shelves.”  The bubble wrapped rocks don’t make sense today. Sure, you can piece back the history of our move out of our previous office to the new office right before review season started and understand why they got there. But that’s not the point.  What are you carrying with you that doesn’t make sense anymore? What is sitting on your shelves, your email inbox, in your dresser that represents a part of you that is no longer relevant? Consider that decluttering is ritual. It is a gift you give to yourself that makes room for something new. I found our recent spring clean day at the office (and my home) to be incredibly energizing. Let’s make room for something new.


2 Noteworthy Voices:

Psychology of Money by Morgan Housel - Practical, human-first thoughts on good financial decisions. Take in one chapter in the middle or read the whole book through. Very insightful. 

The Gift of Our Compulsions: A Revolutionary Approach to Self-Acceptance and Healing by Mary O’Malley – We treat our compulsive spending, eating, gambling, smoking and other destructive behaviors as the enemy of us. And what if, instead, we viewed it as a moment-to-moment wake-up opportunity? I’ve slowly been walking through this book as I’m ready for it for the last year as I make amends with myself and extend myself more grace, the less I see the compulsive behaviors. 
 
1 Snapshot:

I am learning to create more pause between activities. After I leave my home in the morning to go to work, this is my favorite spot to stop and take in the water and animals before I head to the office. A small reminder that peace and calm is always available and can grow from small moments in a day.  
And a bonus snapshot because you probably want to see the rocks in the bubble wrap bag.
Are you a retiree? And is your retirement account down?

Last year hit hard. Fidelity says the average 2022 decline in retirees’ 401(k)s was 23%. For a retiree this news cuts to the bone and can raise the specter of running out of money.

Here are a few concrete things you can do.

1. Choose whom to listen to. This includes news sources. There is a cacophony of noise out there, as self styled “gurus” compete to gain your confidence. There is no guru. So don’t look for them. Instead, listen to the voices who have lived through this before. These voices will be calming and aren’t trying to close a deal with you. Turn off the noisy gurus.
2. Spend less money in a down period. In exchange, take more in the up period that follows. We call this a guardrails approach. It dramatically enhances the longevity of your money. Talk about this with your advisor at your next semiannual review.
3. Create a buffer of cash or cash-like reserves to draw on in the next downturn. However, resist the urge to put too much into cash, because inflation is real and you will need your overall investments to expand. Form an opinion or hire an advisor to help evaluate your ratio of cash to investments.
4. Figure out your best Social Security claiming strategy. If you follow coffee shop advice you will always feel like starting at 62 because “someone ran the numbers, and the breakeven date of 83” is so far away. Well newsflash: there are other issues beyond that. Age 83 is closer than you think, and having more money every month would really help. And if you love your spouse you may want them to have a little more money, too. There are no do overs, so tell your advisor you want a Social Security projection for various ages so you can make an informed decision. Rant over.
5. Annuities. These are too often misrepresented and excitedly oversold, especially in harsh environments like the present. They are just insurance companies’ tools to gain assets under management. There are five or more different kinds. Some of them are bewilderingly complex or expensive, but occasionally worth it. In spite of their blemishes they can work at times. But see the first point, above.
March and April brings Pleasant Wealth's Spring season of client review meetings!

This is the opportunity for current clients to check in on investments, to update your advisor on any past or upcoming changes to your financial situation, and to collaborate with your advisor so that together we can chart a course for better financial grounding in the future.

To schedule a phone call, virtual meeting or in-person appointment, tap the button below or call our office at 330-893-0113, option 1.

Should you decide not to schedule during this review season, we’ll look forward to our next review meeting opportunity in September and October.
With You On Life’s Journey
720 McKinley Ave. NW Canton, OH 44703 Phone 330.893.0113 Fax 330.800.9207

Securities offered through Kestra Investment Services, LLC, (Kestra IS), member FINRA/SIPC. Investment Advisory Services offered through Kestra Advisory Services, LLC, (Kestra AS) an affiliate of Kestra IS. Pleasant Wealth is not affiliated with Kestra IS or Kestra AS.