I recently wrote about the Fed’s fight against inflation. Raising interest rates creates pain, but likely far less pain than runaway inflation. So, let’s see if the plan is working. I saw the effects of runaway inflation while visiting Zimbabwe years ago. In the storefronts were government issued signs that said it was illegal to…
DetailsI would like to deviate just today and give a brief glimpse into the life of a financial advisor. Understanding what we do may be beneficial to those who may one day seek the services of a Certified Financial PlannerTM, or consider becoming one. People initially come to us because they want to make sure…
DetailsA contractor at my house told me he needed to raise his prices because supply costs had gone up dramatically. He made a comment that caught my attention saying, “The solution to inflation is simple. Rather than sending out little stimulus checks, the government should just give everyone a million dollars and we would all…
DetailsI visited a high-rise hotel with floor to ceiling windows. As I looked out the window, I was suddenly hit with my fear of heights that had me quickly stepping away. After a moment I slowly approached again, trying to overcome my fear so that I could see the beautiful view. The following day, I…
DetailsIt’s been a tough year but in many ways it has been necessary, and good. Obviously, the news focuses continually on the challenges facing the economy. I think the four biggest are inflation, the labor shortage, supply chain issues and higher interest rates. Our main economic issue today is inflation and that is significantly driven…
DetailsAs a CFP® professional, sometimes I feel like the doctor who, when a stranger learns their career, they immediately pull up their pant leg and say something like, “Well Doc, while I’ve got you here would you mind taking a quick look at this thing.” During tough stock markets like we’ve had the past few…
DetailsRecent investment news has focused on the Federal Reserve(Fed) raising interest rates to combat inflation. So, what does that mean and how might it affect average Americans? The Fed was established by congress in 1913 in an effort to create a stable banking system. It was initially given three main purposes, two of which being…
DetailsRecent research by a major financial firm revealed that today’s teenagers are much less prepared than their parents were to make good financial and investment decisions. The research showed children are not being taught about money in the home, nor is there much of an effort in public schools to do so, with only 10…
DetailsA few weeks ago, I was at my mom’s house with several of my siblings going through boxes of endless memories she had accumulated over her lifetime. She decided it was time to give to each of us the many personal treasures she had carefully stored in our own personal boxes. Report cards, medical records,…
DetailsThe current NBA playoffs got me thinking back 25 years to when the Utah Jazz had two chances in a row of claiming the title, and likely would have done so had not a certain player by the name of Michael Jordan gotten in their way. In their final effort in 1998 the Jazz were…
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