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Words of Candor

Over the coming weeks there will continue to be a stream of information coming out regarding the collapse of several banks in the US and in Europe. We will undoubtedly learn more about the failures that led to the banks collapsing, the cost of the collapse, and what changes need to be implemented to attempt to stop these sorts of things from occurring in the future. One thing we already know that this situation reminded us of is that diversification still matters in your financial life.
In light of recent news events, we wanted to spend some time sharing information and perspective around the current banking situation. However, before we can begin to understand the current headlines, let's first understand what a bank actually is…
One of the most crucial pieces of a sound financial plan, and often the most overlooked piece, is the estate plan. Even though you may not realize, everyone has an estate plan, however some are more organized than others.
When Congress approved the $1.7trillion omnibus spending bill in December of 2022, much of the focus was on the size of the spending that would occur funding the government through September 30, 2023. While that is surely important, buried inside the bill was also legislation that would affect Americans everywhere. The SECURE 2.0 Act is now law and touches Americans at all stages of life.
In the beginning of December, I was able to visit Universal Studios and Islands of Adventure in Orlando, FL with a few friends for a VIP Experience tour. The tour includes breakfast, lunch, and a guided walk throughout the parks guaranteeing you to ride at least ten rides, skipping the lines and going straight to the front. As an annual passholder, it was not my first time at these parks and I eagerly put together a list of rides that were essential for us to ride. The list included multiple rollercoasters, several simulators that were in 3D, and other rides that spin you and move you around in a quick fashion. As the day ended, I realized what started with excitement ended with a sore neck, nausea, and a group discussion on if thirteen rides were really a good idea after all.  While that day is one of my favorite memories of 2022, the feeling getting off the last rollercoaster resonated with me as to what many investors probably felt in 2022: a period of excitement to begin the year, followed by the discomfort of what turned out to be a year full of ups and downs and unexpected nausea and fatigue...
In the beginning of December I was able to visit Universal Studios and Islands of Adventure in Orlando, FL with a few friends for a VIP Experience tour. The tour includes breakfast, lunch, and a guided walk throughout the parks guaranteeing you to ride at least ten rides, skipping the lines and going straight to the front. As an annual passholder, it was not my first time at these parks and I eagerly put together a list of rides that were essential for us to ride. The list included multiple rollercoasters, several simulators that were in 3D, and other rides that spin you and move you around in a quick fashion. As the day ended, I realized what started with excitement ended with a sore neck, nausea, and a group discussion on if thirteen rides was really a good idea after all.  While that day is one of my favorite memories of 2022, the feeling getting off the last rollercoaster resonated with me as to what many investors probably felt in 2022: a period of excitement to begin the year, followed by the discomfort of what turned out to be a year full of ups and downs and unexpected nausea and fatigue.