Finding the Sweet Spot in Your Financial Plan - June 13, 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. Top 3 Weekly Picks
1. Learn About?The Differences Between an S- Corp and C-Corp- Which is Best For Your Business??
2. Learn how to?Unlock 10 Key Stress Tests for Your Financial Plan
3. What We're Learning-?The Comfort Crisis By Michael Easter
III. Weekly Blog?
IV. Weekly Podcast
Market Commentary
The Markets
?
Another record high for the Standard & Poor’s (S&P) 500 Index!
Last week, the S&P 500 Index hit its 25th record high for 2024. Investor enthusiasm for artificial intelligence helped drive the index to a new high. About 30 percent of the Index is information technology stocks.
?The S&P 500 also benefitted from reports that forecast a slowdown in hiring for May. Economists expected the jobs report to show 190,000 new jobs were added by U.S. employers in May, and hourly earnings increased by 3.9 percent over the last 12 months, reported Jeff Cox of CNBC.
领英推荐
EWA's Weekly Picks
Learn About?How to?Unlock 10 Key Stress Tests for Your Financial Plan
What We're Learning?The Comfort Crisis By Michael Easter
A radical new body of evidence shows that people are at their best—physically harder, mentally tougher, and spiritually sounder—after experiencing the same discomforts our early ancestors were exposed to every day. Scientists are finding that certain discomforts protect us from physical and psychological problems like obesity, heart disease, cancers, diabetes, depression, and anxiety, and even more fundamental issues like feeling a lack of meaning and purpose.
Team Takeaways:
1. In newness we are forced into presence and focus. Newness can even slow down our sense of time. This explains why time seemed slower when you were a child.
2. Doing physically hard things is an enormous life hack. Do hard things and the rest of life gets easier and you appreciate it all the more
3. A plan will never materialize perfectly. And even if it does, then what? You don’t settle, you add more items to the checklist. It is the nature of desire to get one thing and immediately want the next thing, and this cycle of accomplishment and acquisitions won’t necessarily make you happy—if you have ten pairs of shoes you want eleven pairs.
Weekly Blog
Addressing the financial implications of a loved one's eventual passing is an emotionally charged topic, yet it is a crucial part of ensuring peace of mind during one of life’s most challenging times. This blog aims to guide individuals, particularly from the child-to-parent perspective, on financial steps to consider before this occurs.
FINLYT by EWA Podcast
In this personal episode of FIN LYT by EWA, Matt Blocki and Ben Ruttenberg delve into one of life's most challenging experiences: preparing for the passing of a loved one. Understanding the emotional weight and complexity of this topic, they offer compassionate guidance on how to manage financial affairs before a parent or loved one passes, focusing on the crucial conversations and actions that can ease this transition.
Matt and Ben discuss the importance of proactive planning to ensure all financial aspects are orderly, which can significantly reduce the stress during such a trying time. They cover practical steps such as compiling a comprehensive list of assets, understanding the different types of assets and how they are handled upon passing, and the critical roles of wills, estates, and direct beneficiaries in simplifying the legal processes involved.
Matt and Ben offer insights into the execution of estate plans, including the setting up of wills, trusts, powers of attorney, and the crucial aspects of healthcare directives. The episode also addresses the sensitive discussions that should occur with aging parents about their wishes and financial plans, which, while tough, are essential for a smoother transition and to honor their legacy respectfully.