In our client meetings, the term “wealth” is often tossed around somewhat loosely. We talk about building wealth, managing wealth, enhancing wealth, and preserving wealth as if the concepts are universally understood. But what exactly is wealth? It’s such a vague term that every person has a slightly different meaning.
We wish you a happy New Year and hope you were able to close out 2022 with friends and family.
You may have heard investors say that a clear investment philosophy is essential to pursuing long-term financial success. And while investment strategy is important, it’s nothing more than a manifestation of an investment philosophy. Strategies can evolve as life changes, but philosophies are the core beliefs, principles, and practices that guide your decision-making.
Through all the challenges, newfound opportunities, and every high and low we’ve experienced during the last couple of years, it’s no surprise why we might be striving for more balance.
The stores are decorated, the lights are strung, and the holiday events have started. Even though everything is shiny and cozy, it’s hard to ignore that tiny feeling that the holidays seem to feel more expensive each year. But you’re not alone; holidays are a financially stressful time for many.
Dear Valued Investor,
While winning the lottery is well outside mainstream reality for most people, it’s not uncommon to suddenly receive a large inheritance, a settlement, or perhaps a stroke of good luck. There are several stories of the major failings of people who’ve come into money only to see it disappear.
Dear Valued Investor,
In the last several weeks, we have continued to face elevated uncertainty in financial markets due to high inflation and rising interest rates, and we thought it was an important time to take stock with the final quarter of 2022 just ahead.
When it comes to stock market performance, August was “the best of times, and the worst of times.” The strong market rally that peaked in mid-August was viewed by many analysts as a transition from a bear to bull market, based on the surge in breadth that stocks enjoyed and the magnitude of the two-month rally that began in mid-June totaling 17%.
As a young parent looking to the future, you may be faced with a daunting choice: do you save earnestly to secure your retirement, or save to fund your children’s education?
© 2023 Elk Mountain Financial LLC. All rights reserved.
