Empty Nesters, Market News and Staying safe online - The PDI Group

Dear Clients,

We are empty nesters…temporarily.?We dropped our kids at a month-long sleep away camp in Colorado.?They went away last summer for one week but a month away is a big step for them.?It’s amazing how quiet the house is without them.?

With Covid, many of us became more insular and glued to a screen…my family included.?With Covid in the rearview mirror, I think it will do us all some good to go out and smell the roses.?Carpe Diem!!????

Andrea and I want to Seize the Day and enjoy our freedom for the next couple of weeks.?Please let me know your favorite Bay Area restaurant recommendations or day trips we should take.

Market related news

The market continues to struggle to figure out the economic landscape.??

·????????Recession -?The prognosticators have been predicting a recession for 12+ months but the job market continues to be strong.?Will it finally come in the second half of 2023?

·????????Interest Rates - The Federal Reserve and central banks around the world continue to fight inflation as they try to slow the economy.?The Fed recently paused on raising interest rates but have indicated that they might resume over the summer.

·????????Employment - Domestic numbers continue to stay strong and The Fed will continue to keep an eye on these statistics?

·????????Debt ceiling - The President and Congress were able to agree on a bipartisan agreement to lift the debt ceiling?

The phrase “data dependent” seems to be the operative word when it comes to inflation, rates and jobs.?I hope the market and The Fed will have more clarity by the fall.

Cyber security and your money

Cybersecurity is becoming more important every year and can be especially important this time of year as people travel.?Here are some tips from www.Ready.gov

-??????Limit the personal information you share online.

-??????When using public/unsecured WiFi, do not attempt financial transactions

-??????Keep software applications and operating systems up-to-date.

-??????Create strong passwords by using upper and lower case letters, numbers and special characters. Use a password manager and two methods of verification

-??????Watch for suspicious activity that asks you to do something right away, offers something that sounds too good to be true, or needs your personal information.

-??????Think before you click. When in doubt, do NOT click.

-??????Don’t share PINs or passwords. Use devices that use biometric scans when possible (e.g. fingerprint scanner or facial recognition).

-??????Keep in mind that scammers may try to take advantage of financial fears by calling with work-from-home-opportunities, debt consolidation offers and student loan repayment plans.

-??????Do not click on links in texts or emails from people you don’t know. Scammers can create fake links to websites

-??????Remember that the government will not call, text or contact you via social media about owing money.

New Account Features

In case you missed in (or ICYMI as the kids say) - Last month I talked about our premium deposit

-??????We have a new cash deposit solution called JP Morgan Premium Deposit that offers FDIC protection on up to $3 million dollars while still earning a competitive interest rate (see the link below for the current interest rate)?

-??????Premium Deposit is a FDIC-insured1 JPMorgan Chase Bank (“Chase Bank”) deposit product accessed through an eligible J.P. Morgan Wealth Management brokerage account, which offers a rate up to 9x higher than the national average savings rate2.?

-??????Now you can earn a competitive rate on your cash reserves while maintaining same-day3 availability to your funds. You can rest assured knowing your cash is deposited at one of the world’s leading financial firms and FDIC-insured1 up to applicable limits.?

You can also find more information at jpmorgan.com/PremiumDeposit and on the Premium Deposit fact sheet.

I hope you have a great Fourth of July.?Happy Birthday America!!

All my best,

Chris

Christian?Ach???| Executive Director??| The Purpose Driven Investment (PDI) Group??| J.P.?Morgan?Advisors??| 560?Mission?St,?Floor?24??| San?Francisco,?CA?94105??| T:?415?772?3221??| Cell:?415-215- 5139??|[email protected]??| jpmorgan.com/pdi-group?

1Deposits placed in a J.P. Morgan Premium Deposit account are eligible for FDIC insurance up to applicable limits. All deposits at Chase Bank held in the same insurable ownership capacity will be aggregated for purposes of eligibility, including deposits maintained through the J.P. Morgan Chase Deposit account, which may be the sweep vehicle for your investment account. You are responsible for monitoring the total amount held with Chase Bank. For more information about FDIC insurance, please visit the FDIC website at: https://www.fdic.gov/deposit/deposits.

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2Based on comparison to the National Deposit Rates – Savings ($2,500 Product Tier), as published on the National Rates and Rate Caps – Monthly Update as of February 1, 2023. (https://www.fdic.gov/regulations/resources/rates).

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3Same-day availability applies to withdrawal requests given to a J.P. Morgan Advisor by 4:00 p.m. Eastern Time on a business day, and generally will be processed on that business day. This product is not intended for clients who need access to funds to pay for daily or recurring expenses. Funds will not be automatically accessed to settle trade activity or to reduce a debit or margin loan on your eligible account.

IMPORTANT INFORMATION REGARDING J.P. MORGAN PREMIUM DEPOSIT ELIGIBILITY

Availability of J.P.?Morgan Premium Deposit is subject to eligibility criteria including but not limited to account type, initial minimum deposit requirements and balance maximums.

These criteria are subject to change at any time at the discretion of J.P.?Morgan Securities LLC.

Terms of eligibility, balance requirements and premium are subject to change at any time. Chase Bank or JPMS, in their discretion, may also modify the terms, conditions and procedures relating to J.P.?Morgan Premium Deposit. You will be notified of any changes that adversely affect you.

Deposit products and related services are offered by J.P.?Morgan Chase Bank, N.A. Member FDIC.

Please do not send personal, sensitive or confidential information via unsecured mail.

PLEASE RETURN ALL INFORMATION IN A SECURE MANNER (ex. Secure Message Center 'SMC,' Client Exchange, Mail, Fax or In Person.)

By visiting a third-party site, you may be entering an unsecured website that may have a different privacy policy and security practices from J.P. Morgan standards. J.P. Morgan is not responsible for, and does not control, endorse or guarantee, any aspect of any linked third-party site. J.P. Morgan accepts no direct or consequential losses arising from the use of such sites.

Depending upon laws of the home state of the client or designated beneficiary, favorable tax treatment or other benefits offered by such home state for investing in 529 Plans may be available only in invested in the home state’s 529 Plan.?Any state-based benefit offered with respect to a particular 529 Plan should be one of many appropriately weighted factors to be considered in making an investment decision, and clients are advised to consult with their financial, tax or other adviser to learn more about how state-based benefits (including any limitations) would apply to their specific circumstances.?

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JPMorgan Chase Bank, N.A. Member FDIC

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This is not a commitment to lend. All extensions of credit are subject to credit approval. Bank products and services are offered by JPMorgan Chase Bank, N.A. and its bank affiliates.

Electronic Mail (E-mail) May Not Be Used for Trades, Transmission of Personal Information or Messages That Require Immediate Attention.?

J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment advisor, member FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co.?(See Link to full disclosures)?

INVESTMENT AND INSURANCE PRODUCTS: ● NOT A DEPOSIT● NOT FDIC INSURED ● NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY ● NO BANK GUARANTEE ● MAY LOSE VALUE

The views and outlooks expressed herein are those of the Ach/Bliss Group at J.P. Morgan Wealth Management that may differ from other J.P. Morgan Chase & Co. affiliates and employees. There is no guarantee that any outlooks and views will occur in the future. This constitutes our judgment based on current market conditions that are subject to change without notice. This material should not be regarded as research or as a J.P. Morgan research report. All outlooks represent our current view of anticipated market trends, which are not forecasts or price targets. We believe third party information contained in this material to be reliable, but we do not warrant its accuracy or completeness. The views and strategies described herein may not be suitable for all investors and are subject to investment risks Investors may get back less than they invested. The information contained herein should not be relied upon in isolation for the purpose of making an investment decision. This material is intended as a general market commentary, and not intended to be a forecast of future events, or guarantee of future results or investment advice. Nothing in this material shall be considered a solicitation to buy or an offer to sell securities, other investments or services to any person in any jurisdiction where such an offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction. Any mention of an individual security, investment or strategy is provided for informational purposes only and should not be construed as a recommendation. Investors are urged to consider carefully whether the products, asset classes (e.g. equities, fixed income, alternative investments, commodities, etc.) and strategies discussed are suitable to their individual needs. Investors must also consider the objectives, risks, charges, and expenses associated with the investment product or strategy prior to making an investment decision. You should be aware of the general and specific risks relevant to the matters discussed in the material. More complete information must be considered and is available through product profiles and offering documents that discuss risks, benefits, liquidity and other matters of interest. If you have any questions, please contact your J.P. Morgan -Advisor. Past performance is not a guarantee of future results.

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This material is for information purposes only, and not an offer or solicitation to enter into a transaction. This information is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The information provided may inform you of certain products and services offered by J.P. Morgan Securities business, part of JPMorgan Chase & Co. JPMorgan Chase & Co., its affiliates, and employees do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal and accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transaction. By visiting a third-party site, you may be entering an unsecured website that may have a different privacy policy and security practices from J.P. Morgan standards. J.P. Morgan is not responsible for, and does not control, endorse or guarantee, any aspect of any linked third-party site. J.P. Morgan accepts no direct or consequential losses arising from the use of such sites.