ECONOMIC COMMENTARY (07-10-2019)Submitted by Jason Howell Company | Developing High-Net-Worth Families on July 11th, 2019
Please enjoy our TIME & WEALTH MANAGEMENT tips and an ECONOMIC COMMENTARY that we share with our clients.
TIME & WEALTH MANAGEMENT
- By Noon. Since time and money are closely related, we decided to include tips for how we manage time at our firm. This week’s tip: make a “to-do-by-noon” list. Somehow cutting the day in half forces us to move quicker through our tasks. Try it!
- Scholly. Parents, Aunts, Uncles or people who have friends responsible for a college education will appreciate this website that curates available scholarships and is billed as the “Student Success Platform.” Take a look: https://myscholly.com/
II. ECONOMIC COMMENTARY
- Just One Long Comment. No one really wants to read what you can essentially get from CNBC or the Wall Street Journal so going forward we will write our commentary with less of the financial jargon. The biggest thing affecting the stock market these days is whether the Federal Reserve Chairman will announce a cut in the rates that banks use to lend money to each other. Interest rate cuts usually mean it’s cheaper for businesses to borrow money but it also means it’s harder to save money in bank accounts (how much does your savings account pay you in interest?). Cutting interest rates is one method that the Federal Reserve uses to stimulate the economy when inflation or unemployment are high. These days, neither of those indicators are high yet there is still pressure from outside interests for an interest rate cut anyway. That’s too bad.
The independence of the Federal Reserve from the pressures of “K Street,” “Wall Street,” the White House and U.S. Congress is important. June marks the 121st month of economic growth (just over 10 years). In the immediate term, cutting rates near an all-time stock market high can be good for your stocks but only for so long. If you are not investing for the long term (over 10 years), now is a good time to talk with us about your investment plan allocation; both in the accounts we manage and the ones we do not.
Jason Howell is a CERTIFIED FINANCIAL PLANNER™ professional, former U.S. Congressional candidate and President of Jason Howell Company. With an emphasis on family wealth and time management, the Jason Howell Company develops parents into future patriarchs and matriarchs.
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