Please click the link below for this week’s Weekly Market Review which centers on trade relations with China. While the market remains optimistic about a resolution; 25% tariffs on $200 billion goods are in place. The longer range concern is the strength of the US consumer. If many goods and services we buy get materially more expensive it could cause an economic slowdown. Equity investors should expect continued volatility in the market.
We stink at saving money. Maybe you don’t, but has a society we are really bad at it. Read Notable Number 2. An emergency account with two or three months of necessary expenditures is the foundation of a solid financial plan. Most all of us will, at some point, miss some extended time at work due to injury, illness, or caring for a loved one. Eliminating your vulnerability if you miss a pay check or two is a must. Until this money milestone is achieved you should consider making big financial changes such as not going out to eat and skipping family vacations. Sounds drastic, but better to make some voluntary sacrifices now than larger involuntary ones later. Those involuntary situations can leave a long lasting stain on your financial status, credit, etc.
Another consideration is pricing your own disability insurance policy. Most people’s ability to earn an income is their most valuable asset. After all, that income pays the bills and affords you the home, cars, education for children, etc. Protecting that income against injury or illness is highly advisable. If you have disability coverage through your employer, we recommend you take the time to make sure you understand how much and how it works. If you don’t have income protection through work or what you have would be insufficient if you were unable to work, our office can help you price a policy.
Have a good week. Sincerely,
Trevor N. Coe, CFP®