Darby Affeldt

Did you know people Gen-X—born in the mid-1960s to the early-1980s—feel the least financially secure compared to Millennials and Baby Boomers? Don’t let stereotypes get in the way of your financial security. Get advice and help when you need it.

There is no one-size-fits-all financial plan. The planning process with a financial professional takes into account your current financial position and customizes solutions based on your priorities and concerns.

At North Star, we cover all the key elements with you so that you can make informed choices on what you need and what can wait.

Whether you are just getting started or want to check if you are on track for your goals, financial planning is valuable to anyone at any stage of life.

*Financial Advisors do not provide tax, mortgage, real estate or legal advice. You should always consult a tax or legal professional for advice regarding your specific tax and/or legal situation. North Star Resource Group and its affiliate(s) CRI Securities, LLC are independently owned and operated, and offers its own suite of products and services entirely independent of Securian.

After a surge in May, new home sales in June experienced a slight cool down. Even as a historically low supply of existing homes for sale continue to push buyers towards new construction, sales still dropped 2.5% from their May figures (though, that's still 23.8% higher than this time last year).

The reasoning for this drop continues to be the affordability question of new homes as well as homeowners with low mortgage rates being hesitant to sell and purchase a home with a much higher mortgage rate.

Read more here:

New home sales dropped in June after May's surge | CNN Business New home sales dropped in June from the month before, even as buyers continued to rely on new construction as an alternative to the historically low supply of existing homes for sale.

For those unaware, the U.S. Federal Reserve has just adopted a new instant-payment system know as FedNow. This aims to modernize the aging system that the Fed has relied on for decades to issue payments to individuals and businesses for a variety of purposes.

Though this change is very much ushering in a new era that promises instantaneous payment systems, this change will take some time to be implemented fully. Only time will tell how this rollout goes and the impacts that it will have.

Read more here:

FedNow Will Change Payments For The Better, But Not Yet America is getting FedNow, the account-to-account instant payment infrastructure common in many other countries. It will change payments profoundly. Soon.

Recently, Federal Reserve Chair Jerome Powell shared that he no longer believes that the U.S. is headed for a recession, despite record-high inflation and other issues plaguing the nation for months.

With the latest interest rate hike helping to cool inflation, along with the resiliency of the economy in recent months, a recession seems less likely than it did before. Though, it's important to note that, by Powell's own admission, there's "a lot more left to go" before the nation lands soft enough from high inflation to avoid a recession.

Learn more:

Fed staff drop US recession forecast, Powell says WASHINGTON (Reuters) -U.S. Federal Reserve Chair Jerome Powell said on Wednesday the central bank's staff no longer forecasts a U.S. recession, and "we do have a shot" for inflation to return to target without high levels of job losses. Powell told a news conference after the Fed's latest interest-r...

Life insurance is one of those topics that many have heard of, but many can't say they fully understand.

As with many financial topics in the age of the Internet, it's hard to know what is fact and what is fiction when it comes to the many life insurance options, and who you can trust to guide you to the best option for your situation.

It's my passion to be that fiduciary to my clients, and to help them discover what will best help them achieve their financial goals. The options that they have for life insurance, like those included here, are just a small part of what I look at when I'm helping clients reach financial independence.

Reach out to me if this is something that you'd like to pursue!

Please keep in mind that the primary reason to purchase a life insurance product is the death benefit. Life insurance products contain fees, such as mortality and expense charges (which may increase over time), and may contain restrictions, such as surrender periods. Policy loans and withdrawals may create an adverse tax result in the event of a lapse or policy surrender, and will reduce both the cash value and death benefit.

It's one thing for a financial advisor to tell you how having a financial plan can help improve your financial situation. It's another thing for them to actually show you.

For example, did you know that 47% of those with a financial plan maintain healthy credit card habits, compared to just 29% of those who don't have a plan? Or, that 65% of those with a plan have a dedicated emergency fund, compared to just 33% of those who don't have one?

These are all true, and they illustrate the true value that a financial plan—and an accompanying financial advisor—can have on your financial health.

Is this something that you'd like to learn more about? Contact me today, and let's talk.

In April 2023, the amount of personal savings that Americans had was estimated to be $802.1 billion.

While this is an impressive figure, money issues persist in the lives of many. Unfortunately, many Americans remain unable to save money or save as much money as they'd like to, driven largely by the persistent economic factors that are in play.

Are you in this position? Do you find yourself uncomfortable with your saving potential or your finances at large? If so, I encourage you to consider reaching out to me. I'd like to see what I can do to help you. Because, in the end, nobody should have to worry about their financial future.

How much should you have in your emergency savings? That differs from person to person and family to family, but a good rule of them is to try to have between 3 to 6 months of your monthly living expenses in an easily accessible place for use specifically in times of emergency (like a loss of income).

Beyond that, though, you might have other questions related to this. What qualifies as an emergency besides just losing my income? What are the different options for where to place my emergency savings? And, should I continue building up my emergency savings even once I've landed in this zone, or should I focus my efforts towards saving for something else?

Well, you've come to the right place! I'd love to sit down with you and map out a strategy to not only get your emergency savings set up (or bolster them, if you've gotten started already) but also to address each part of your financial picture.

Send me a message today to get started!

According to data recently reported by the University of Michigan, the Consumer Sentiment Index showed a rating of Americans' confidence in the U.S. economy system of 72.6. That's significantly higher than the expected rating for this month (65.5) and represented a 13% increase from the prior month.

In short, this shows that Americans are beginning to regain their faith in the U.S. economy. While much work still needs to be done to regain the full confidence of Americans enjoyed in the past, it's promising nonetheless.

Read more here:

Americans haven't felt this good about the economy in almost two years The first July reading of the University of Michigan Consumer Sentiment Index showed a reading of 72.6 on Friday, the highest level since September 2021.

Grandpa Chic! The new design craze.

Grandpa Chic Is the Refined, Collected-Over-Time Look You’re Going to See Everywhere This Year Also known as country club chic or country club grandpa, grandpa chic is a curated aesthetic that strikes the perfect balance between sophistication and comfort. Learn what grandpa chic is, plus how you can try a grandpa chic look in your home.

Is your money safe in banks? Here’s what you should know.

Yellen says banking system 'sound' but U.S. could aid other small banks if needed amid SVB crisis Treasury Secretary Yellen says the banking system is 'sound' and 'situation is stabilizing' but the government could help other small banks if needed

For most of our lives, it feels like money controls us.

It affects the jobs we accept, where we live, the trips we take and don’t take, and how we feel when we open a bill.

Then in retirement everything is supposed to shift. The things we worked toward all our life get to become our reality!

But it’s hard to turn off that money as master mindset in ourselves…

I want something different for my clients. I want them to experience confidence in their finances *today*.

This doesn’t mean losing discipline when it comes to finance, but it does mean putting money back in its place as the servant. It means stating goals, creating strategies to reach them, and still enjoying life along the way.

As I've shared before—and you've read about in the news—the global economy has been in a bad spot for a while now.

The long-standing combination of still-high inflation, high debt, high interest rates, and lower purchasing power of currency are just some of the issues that are plaguing the global economic system to this day.

Now, the Central Banks are warning that a reality check is in order to try and combat these issues while restoring order in the coming years. In short, more drastic measures need to be taken in order to avoid a complete global collapse and recession. And the time to do so is now.

Read more:

‘The global economy is due for a reality check,’ warns the central banks‘ bank The global economy is at a critical juncture that could weigh on prosperity for years to come, the Bank for International Settlements warns.

You've likely heard about Minnesota's recent passing of a free tuition plan for eligible students at public colleges and universities. Though there are requirements that applicants must meet in order to qualify, it will nonetheless be open to thousands of students statewide.

Though this will be beneficial to numerous individuals who would've otherwise perhaps not had access to a college education, there are numerous implications that could occur as a result of this policy change. Specifically, leaders in universities and colleges in neighboring North Dakota—where much of their student populations contain students who are residents of Minnesota—have concerns regarding how this change will impact their institutions.

Read more here:

North Dakota university leaders fear 'catastrophic implications' of new Minnesota free tuition plan North Dakota higher education officials are deeply worried about losing students and revenue in 2024 when neighboring Minnesota makes public college and university tuition free for thousands of residents. Officials estimate around 15,000 to 20,000 Minnesota students a year will use the free North St...

How to get your deck organized for summer!

26 Deck Storage Ideas to Organize Your Outdoor Space Make the most of your outdoor space with these deck storage ideas that organize entertaining essentials, pool toys, gardening supplies, and more.

Over two-thirds of people belonging to the "Gen Z" generation are uncomfortable with their level of emergency savings, according to a poll conducted by Bankrate in May of this year. That's higher than any other generation of Americans.

Ongoing economic challenges like inflation and income/employment changes aren't helping matters, either. These, combined with members of this generation being less likely to regularly contribute to an emergency savings fund of their own makes it so that many of them are not at all optimistic about their financial outlook.

If this is you, me and my team can help! If you're a Gen Z member who's concerned about your financial picture—or even if you're not in this category but are still concerned about your finances—contact me today to set up a free, no-obligation consultation meeting. I'd be happy to hear from you and see how I can help.

52% of Americans don't believe they're on track for retirement.

However, there are ways this can be reversed—or avoided entirely! Consulting with a financial advisor is a great way to continue or regain traction on saving for retirement.

"Will I outlive my retirement savings?"

Even those with a high income can have this fear. After all, outliving your retirement can be a complex process based on a series of life decisions:

* Am I putting enough away now to reach my goals?
* If I make this purchase to improve my life, will I threaten my future?
* What kind of retirement lifestyle can I expect with the savings I have?
* How will I withdraw my money at a good pace that accounts for unknown health in my older age?

We all want the chance to live a long life, but that does mean longer time in retirement and more complexity to the equation.

A financial advisor can help with all of this.

We pull your complete financial situation into one place—your financial life at a glance—and help you discover what impact your current decisions or medium-term goals have on your long-term probability of success.

This retirement strategy process combines investment studies and your version of a fulfilling life, and then provides a sigh of relief.

Interested in getting started? I'm here to help.

Could the banking turmoil affect you? Here are 5 ways it might.

5 ways the fallout from the banking turmoil might affect you There are possible consequences still playing out for regular people, small businesses and the economy.

25 Best Girls' Weekend Getaways Around the World

25 Best Girls' Weekend Getaways Around the World From the U.S. to Europe to the Caribbean, here are 25 amazing ideas for your next girls' weekend getaway.

As many of you are likely aware, the U.S. is on the verge of defaulting on its debt. Unless the debt ceiling is raised again, this could occur in a very short period of time.

U.S. Treasury Secretary Janet Yellen recently offered remarks on this very issue, speaking specifically about what the government may be forced to do if Congress isn't able to raise the ceiling in time. In short, it involves reneging on certain financial obligations, such as Social Security payments or Treasury Bonds, to compensate for the ceiling not being raised.

Read more here:

Yellen Says Only Good Outcome Is Congress Raising Debt Ceiling Treasury Secretary Janet Yellen said that the federal government will have to renege on some payments if Congress doesn’t raise the debt limit, though no plan on how the department would proceed has yet been presented to President Joe Biden.

I encountered this article the other day, and it really struck a chord with me. As a traditionally underserved market, Latino-owned businesses are in desperate need of 401(k) and other retirement options. In fact, only 31% of Hispanic households with income from at least a part-time job report participating in a retirement plan of some kind.

Well, thanks to the firm Finhabits, retirement plan options are becoming more accessible to the nearly 5 million Latino-owned businesses in the U.S. While state mandates are still required for more uptake in these plans becoming widely accessible, this is still a big step in the right direction!

Read all about it:

Latino-Owned Businesses May Be Poised for 401(k) Plan Growth | PLANADVISER As state mandates for small businesses take hold, industry players see opportunity in reaching the underserved Latino population.

Have a fun and safe 4th of July!

Since the start of the pandemic, our world has seen unprecedented change and evolution. My field is no different.

This fellow financial professional provides some truly excellent ideas and really illustrates what the pandemic has taught those of us in this field. And, how we can use these lessons learned to better serve you.

Check it out:

What Covid Taught Us About The Future Of Financial Advice How the Covid-19 pandemic changed our world and what it means for the future of financial advice.

2 Surprisingly Easy Ways To Reduce Dementia Risk & Slow Down Aging

2 Surprisingly Easy Ways To Reduce Dementia Risk & Slow Down Aging Healthy aging never looked so easy!

Congratulations!

You're a college graduate. This is a huge accomplishment that you should be very proud of.

However, if you're like other college graduates, you may be concerned about the amount of student loans that you have. I know -- I was once in that position too.

Let me help you manage that debt, in the best ways possible! Connect with me today, and let's talk about it.

How price changes influence consumers’ buying decisions

Research: How Price Changes Influence Consumers’ Buying Decisions Whether on retailers’ own platforms or through third-party price tracking services, today’s consumers often have access to detailed information regarding changes in a product’s price over time. But how does this visibility influence their purchasing decisions? Through a series of studies, the ...

Excellent job!

You've made it and have graduated from Medical School. This is a major milestone in your life, and one that is extremely exciting.

Less so, though, may be the level of student loan debt that was used to get you this far. You may be curious how to best tackle reducing that debt as quickly and efficiently as possible.

I can help! Reach out to me today, and let's get started on a plan to resolve your debt, so that you can focus on the exciting journey that lies ahead of you.

"I can see the leaves on the trees now!"

When a kid gets glasses for the first time, the whole world gets crisper, brighter, and even a little bit more real.

This is what it feels like when you find out if you're on track for retirement.

The best place to start for gaining retirement clarity is calculating your needs, and you can do that on our website here: https://bit.ly/3qTMUug