Finding the Sweet Spot in Your Financial Plan - September 19, 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 Pick- Why Roth Conversions?
Weekly Reading Pick-? Making Hope Happen: Create the Future You Want for Yourself by?Shane Lopez
III. Weekly Blog? IV. Weekly Podcast
The Markets
Inflation continued to trend lower. The Consumer Price Index showed that inflation was 2.5 percent year over year (yoy) in August. That’s lower than economists had expected, and a significant decline from July’s 2.9 percent.
Food and energy prices have been falling faster than some other prices because the core CPI, which excludes food and energy, showed a 3.2 percent increase over the last 12 months. The biggest price increases were for shelter (+5.2 percent yoy) and automobile insurance (+16.5 percent yoy).
Transitioning wealth efficiently, healthily, and effectively to the next generation is one of the most critical financial challenges that high-net-worth families face. This topic is particularly important given the upcoming transfer of an estimated $68 trillion to the next generation in the United States by 2042. This unprecedented transfer of wealth presents both opportunities and challenges; understanding how to navigate this process is extremely important.
In this episode of FIN LYT by EWA, Matt Blocki and Jamison Smith dive into the complexities of changing interest rates and how they affect your financial planning decisions. As rates fluctuate, it's crucial to understand their historical context and how proactive moves like refinancing debt or managing your cash flow can help you optimize your finances. Matt and Jamison break down recent trends, including decade-high interest rates on bonds, and discuss strategies to ensure your portfolio remains strong, even in times of uncertainty.
They also explore three key financial tips to prepare for potential rate cuts: refinancing debt, locking in cash yields, and reassessing investment portfolios. Matt and Jamison provide tips for listeners to make more informed decisions about their mortgage, student loans, and long-term savings. Whether you're planning a big purchase or are already in retirement, this episode shares actionable insights to stay ahead in a shifting rate landscape.