Finding the Sweet Spot in Your Financial Plan - July 3, 2024
Equilibrium Wealth Advisors
Wealth Management firm serving physicians, retirees, corporate leaders, and business owners.
Finding the sweet spot in your finances is striking the balance between the many paradoxes that come with success:
A good financial plan can help you navigate and calibrate your life by design which we define as living stress free now and looking back with no regrets later.
In This Issue You Will Find...
I. Market Commentary
II. EWA's Weekly Picks
Weekly Video?-??Learn The Truth About Target Date Funds
Weekly Reading - The Lean Startup By Eric Ries
III. Weekly Blog?
IV. Weekly Podcast
The Markets
On Friday, one of the Fed’s favored measures of inflation – the Personal Consumption Expenditures (PCE) Index – showed that headline inflation was flat in May. Both headline inflation and core inflation, which excludes volatile food and energy prices, were up 2.6 percent year over year. That’s a significant improvement from May 2023 when headline inflation was 3.8 percent year over year, and core inflation was 4.6 percent. The Fed’s target is 2.0 percent.
Weekly Video Pick-?Surprising Lessons on Financial Returns, Risk, and Long-Term Planning
Weekly Reading Pick- ? The Lean Startup By?Eric Ries
Author, Eric Ries, presents a revolutionary approach to business development that emphasizes agility, validated learning, and rapid iteration. This methodology helps startups innovate more efficiently by focusing on customer feedback and continuous improvement. By adopting lean principles, businesses can avoid common pitfalls and increase their chances of success in a competitive market.
领英推荐
Team Takeaways:
1) Focus on learning what customers really want by testing hypotheses through experiments and gathering actionable metrics. This helps in making informed decisions and reducing waste.
2) Adopt a cycle of building minimal viable products (MVPs), measuring their impact, and learning from the results. This iterative process allows for quick pivots and improvements based on real customer feedback.
3) Encourage a culture of continuous innovation and adaptability. By embracing change and constantly seeking improvement, businesses can stay ahead of the competition and better meet customer needs.
When discussing the topic of life insurance, one common question often arises: Should you opt for a term insurance policy and invest the difference in premium, or should you invest in a whole life insurance product or another form of permanent insurance?
In this episode of the FIN LYT by EWA Podcast, Matt Blocki and Ben Ruttenberg tackle the timeless debate of term life insurance versus whole life insurance. They discuss into the pros and cons of each approach, helping listeners navigate the complex decision of choosing between term policies and permanent insurance products. The discussion provides a framework for determining life insurance needs using the LIFE acronym: Liabilities, Income replacement, Final expenses, and Education.
Matt and Ben discuss how to calculate the appropriate coverage and evaluate whether to invest the difference saved from buying term insurance. They emphasize the importance of discipline in investing the difference and the benefits of layering term policies to match changing insurance needs over time. The episode also explores the role of whole life insurance for high-net-worth individuals, highlighting its advantages in providing asset protection, tax-free growth, and stability during market downturns.
Listeners will gain a deeper understanding of how to balance their insurance needs with their financial goals, whether starting out or looking to optimize an existing plan and is recommended for anyone considering their life insurance options and wanting to make informed decisions about their financial future.