Summer, Housing, Markets and what to do if you get laid off - The Purpose Driven Investment (PDI) Group
?Dear clients,
With the longest day of the year and July 4th around the corner, summer is in full swing.? Des has graduated from middle school and as a rising 8th grader, Liv is starting her research on high schools.? They will head to sleep away camp in mid-July and before they/we know it, school will be back in session.??
It’s all going so fast…I’m trying to take a moment to breath and soak it all in.
The Housing Market
I’ve seen lots of headlines about affordability in the tight housing market.? Even with higher interest rates, residential real estate has been hot.? One of the reasons is that there is limited supply.? Partly because there hasn’t been enough building and partly because owners have low mortgages that were locked in before the Fed started raising rates a couple of years ago.
If you've looking to buy and need a mortgage, let me know and we can discuss what JP Morgan can offer to you in terms of a mortgage. And if you're selling, let’s chat about what to do with the proceeds.
Markets on the Mind
Through my many years as a financial advisor, I've learned that while I love to study the economy and keep abreast of daily stock market news, most clients don't need or want that level of detail. Instead, here are the "big picture" things I'm thinking about this month. If you want to talk about how these or other factors impact your portfolio and your life goals, I'd be happy to discuss in more detail. Feel free to reply here or give me a call.
·???????? Interest Rates - the Fed is still data dependent on when they will start to lower rates.??
·???????? Earnings - As we approach the end of the second quarter, July will start to show if companies are continuing to beat expectations
·???????? AI - Artificial intelligence continues to be the buzz on Wall Street.? On June 18th, nVidia because the biggest company in the world in terms of market capitalization because of their AI chips
Transitional Moments
Oftentimes I meet or am referred to new clients during a transitional moment in their life. One of the most rewarding parts of my work is helping clients navigate these changes - not just the financial considerations, but also the complex emotions that transitions bring. And once the immediate logistics are sorted out, helping people to (re)define and fund their goals in light of the changes, and to live their purpose.?
Transitional moments happen to all of us - whether it's the death of a loved one, birth or adoption of children, getting married, going through a divorce, a financial windfall, or a major career change. Each of these changes can be incredibly emotional, entail several complex decisions, and require a mountain of seemingly tedious but critical decisions. Over the next several newsletters I'll go over some of those changes, and share key considerations and helpful FYIs based on what we've seen in helping clients.?
Transitional Moment: Layoff
Whether you are laid off because of a merger, downsizing, or any other reason; whether you are the sole breadwinner or part of a dual income household, an unexpected layoff can rock your world and throw a lot of things into flux. While a layoff can be an emotional moment, it also is a critical time to look at several financial considerations. This is a general list; if you are going through this, please call me and I will be there to listen, assist, and give guidance more specific to your situation.
Immediately
·???????? Negotiate severance if possible
·???????? Check your healthcare benefits via COBRA
·???????? Look at your cash flow and assets to calculate how much time you have before you need to get back to work. I can help with this calculation. Call me! If your financial situation allows, this may be an opportunity to pause or rest for a bit.
Next
·???????? Create a routine to give your day some regularity and structure.
·???????? File for unemployment - there's no shame in taking this. You've been paying for this. It's OK to take it.?
·???????? Find out what your options are for any retirement accounts from your prior employer.
·???????? Take this as a moment of reflection to think intentionally about your next chapter. (Don't just jump into the job search doing the exact same thing, unless you know that is what you want.)
·???????? Update your LinkedIn or resume
·???????? Frame how you are going to talk about this transition and then
·???????? Start networking
领英推荐
I hope your summer is off to a good start and you have exciting plans.? Where are you going?? Are you checking off something from your bucket list?? Do you have a good book to read or a show you are excited about?? Let me know.?
And follow my lead…take a breath and soak it all it all in.
All my best,
Chris
Christian?Ach???|?Executive Director??|?The Purpose Driven Investment (PDI) Group??|? J.P.?Morgan?Wealth?Management???|?560?Mission?St,?Floor?24??|?San?Francisco,?CA?94105??|?T:?415-772-3221??|?C:?415-215-5139?| Work Mobile: 415-845-8894?|[email protected]??|?jpmorgan.com/pdi-group?
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