Benson Wealth Management

Today, we send our warmest wishes to each of you, as we collectively pause to honor the father figures who have offered us guidance, wisdom, courage, and love.

Whether you're celebrating surrounded by loved ones or cherishing memories of times past, we hope your weekend is filled with joy and gratitude.

From all of us, Happy Father’s Day.

Summer is known for exciting week-long family vacations or camps, but those in-between, “normal” days can be just as memorable.

With that in mind, we’re sharing a few fun family activities for the next time you hear that all-too-common refrain: “I’m bored…”

Swipe for some family fun inspiration ➡️ Have any other ideas? We’d love to crowdsource a list – feel free to drop your ideas in the comments.

In honor of Memorial Day, our office will be closed. We will be back to our regular hours starting Tuesday, May 28.

We invite you to join us in remembering that Memorial Day is more than just a long weekend. It's a time for us to come together and honor those who have made the ultimate sacrifice for our freedoms.

Wishing everyone a safe and meaningful Memorial Day weekend.

On behalf of our entire team, we want to wish all mother figures out there a very Happy Mother's Day!

No matter how you celebrate, we hope you have a relaxing and meaningful day surrounded by loved ones.

Remember, if you have any questions or need assistance, don't hesitate to DM us or give our office a call. We're here to help!

This Memorial Day, our office will be closed as we pay our respects to the brave men and women who made the ultimate sacrifice for our freedoms. We invite you to join us in this important and solemn remembrance.

Should questions or needs arise while we are out office, our team will address them when we resume regular business hours on Tuesday, May 28.

It’s no longer 1978, when gas was an insane $0.63 per gallon! Inflation is on everyone’s mind right now, so I thought we’d share 5 ways to combat it:

✔️ TIPS: The principal of Treasury Inflation-Protected Securities increases with inflation and decreases with deflation. When a TIPS matures, you are paid the adjusted principal or original principal, whichever is greater.

✔️ Precious Metals Funds: The price of gold tends to increase during inflationary periods as the purchasing power of the dollar decreases. There are numerous precious metals funds that invest in gold, silver, platinum, and palladium.

✔️ Commodity Mutual Funds: Broadly speaking, the price of commodities tends to increase during periods of inflation. There are many mutual funds that invest in agricultural and energy commodities that can potentially benefit.

✔️ Equities / Equity Mutual Funds: Companies that are in inflationary-sensitive sectors like industrials and materials can potentially benefit in a higher inflation environment. There are specialty mutual funds that offer underlying equities within the fund’s portfolio.

✔️ Real Estate / REITs: Real Estate rentals and values tend to increase when prices do. REITs have attractive dividends that, according to Nareit, have outpaced inflation as measured by the Consumer Price Index in all but two of the last twenty years.

Feel free to share these tips with your friends and family! We could all use help riding out inflation.

As the season changes, it's the perfect opportunity to give your finances a thorough "spring clean." Here's how you can refresh and rejuvenate your financial health:

📊 Review and Refresh Your Budget: Take a moment to scrutinize your current budget. Have you had changes in your income or expenses recently? If so, you should ideally tweak your budget to mirror these changes

💳 Declutter Your Expenses: Dive into your monthly spending. Are there any non-essentials you can trim? Perhaps those subscriptions you no longer use or memberships you forgot you had? Even small habitual expenses can add up — let's cut them out!

🏦 Consider Consolidation: Juggling multiple credit card accounts? Consider consolidating them to simplify the debt repayment process, reduce any unnecessary fees, and, in some cases, lower interest rates.

🎯 Update Your Financial Goals: Reflect on your financial ambitions, both short-term and long-term. Are they still in line with your current aspirations? Adjust and set actionable steps to reach these refreshed goals.

📈 Check Your Credit Report: Ensure everything on your credit report is accurate and current. Any discrepancies? Report them straight away, as they can impact your credit score and future credit opportunities.

Remember, organizing your finances is not a one-time task; it's an ongoing journey. If you have questions about these tips or your investments, feel free to reach out – our team is here to provide you with holistic guidance.

📢 Hey there, folks! Just a friendly reminder that tax day is right around the corner! ⏰ Don't forget to dot your i's and cross your t's when filing your taxes. 📝

But wait, there's more! 🌟 If you're looking to maximize your retirement savings, remember that the final deadline for contributions is also approaching. 💰💼 Make sure to take advantage of this opportunity before it's too late!

If you have any questions or need assistance, our team is here to help. 🤝 Let's make sure you're all set for tax day and retirement planning. 🎉💪

Happy April Fool's Day! While today may bring ample jokes and pranks, we’re taking this opportunity to share a serious truth: Our expert team is here to help you work towards any goals this month.

Reach out if you have any questions or need support. Enjoy your day, and stay one step ahead of the pranks! 😄

From our families to yours, we wish each of you a fantastic Easter weekend filled with joy, reflection, and precious moments with loved ones. 🌷 However you celebrate, may it be a time of rest and happiness.

Hoppy Easter!

The excitement of basketball has taken over our office, and we're loving every minute of it! 🎉

Brackets are locked in, winners are chosen, and the competitive banter is the soundtrack of our day. If you want to dive into the madness, be sure to grab your 2024 printable bracket.

Which team are you rooting for? 🏀 Let us know in the comments, and let the madness begin!

Wishing you and your loved ones a day filled with good luck and good cheer 🍀💚

Stay safe, celebrate responsibly, and make some unforgettable memories this St. Paddy's Day! 🎉

Weekly check-in: NVIDIA earnings boost major stock averages



Hope all is well with you. Major U.S. equity indices traded well last week, with the Dow, Nasdaq 100, and S&P 500 all posting weekly gains. The upward trend continued on the heels of some blowout numbers from artificial intelligence (AI) and chip giant NVIDIA. There is a lot of buzz as a result, so here is the latest to keep you up to speed.



Overall, tallying results from last week, the S&P 500 gained 1.66% to close at an all-time weekly closing high, the Nasdaq 100 added 1.42%, and the Dow Jones Industrial Average increased by 1.30%.



NVIDIA Earnings Beat



Better-than-expected earnings results from semiconductor giant NVIDIA, released after the bell on Wednesday, propelled major U.S. stock indexes higher on Thursday, resulting in the NASDAQ rallying by nearly 3%. This was its biggest single-day gain in over a year.



What may be the stock of our time and the largest beneficiary of the AI theme, NVIDIA posted revenue up 265% courtesy of its booming AI business. The stock rose in extended-hour trading after the results and conference call and provided a monstrous dose of strength for the next day’s trading session across broader markets.



NVIDIA closed the week higher by over 8.5 %.



Fed Minutes = Mixed Tone



Perhaps overlooked by markets as NVIDIA stole the spotlight last week, the Federal Reserve (Fed) minutes from its most recent policy meeting were released last week.



The meeting minutes showed a cautious yet optimistic tone from the Federal Open Market Committee (FOMC), indicating there would be no rate cuts until Fed members have “greater confidence” that inflation is receding.



“Most participants noted the risks of moving too quickly to ease the stance of policy and emphasized the importance of carefully assessing incoming data in judging whether inflation is moving down sustainably to 2 percent,” the minutes stated.



Fed Minutes Interpretation



In other words, it sounds like the Fed is more concerned with cutting rates too quickly versus too slowly. Cutting too quickly could contribute to retriggering inflation.



The comments in the minutes seemed optimistic about the progress made in the fight against inflation. Market reaction to the minutes was somewhat muted as investors eagerly awaited NVIDIA earnings results.



You can read the full Fed minutes here.



Wall Street vs. Main Street



As the AI and megacap themes fuel gains on Wall Street and for long-term investors, it is just not an accurate reflection of the “actual economy” for many Americans.



The reality for many working Americans is one of living paycheck to paycheck (with 78% of Americans in this boat) and of survival, as high prices for just about everything have taken their toll.



The disconnect between Wall Street and Main Street is perhaps more prevalent than it has ever been, and the sacrifice required to secure one’s financial future is real.

The fortune has spoken!

🙏 Gratitude Alert 🙏

We couldn't let Valentine’s Day pass without expressing our heartfelt thanks to all of you for your unwavering trust and support. From clients to professional colleagues, you are at the heart of everything we do 💙

With that in mind, if you've come to love the way we do business, would you do us a favor: Would you consider sharing our info with your family and friends who might find our services beneficial?

Your referral would mean the world to us. And, of course, don't hesitate to reach out if there's anything we can assist you with – that’s why we’re here!

Super Bowl Sunday is almost here. And if you’re like us, you can’t wait for an epic night of stiff competition, cold drinks, and hilarious commercials.

Whether you're rooting for the AFC or NFC or maybe just hoping for a close and entertaining matchup, we hope you have a blast watching the game.

That said, which team are you pulling for? Share in the comments ⬇️

Benson Wealth Management is honored to be in The Scout Guide Chattanooga Volume 11 ⭐️

The was transformed into a winter wonderland to celebrate the launch! We feel fortunate to be part of this amazing city and sit alongside so many other great local businesses!

Look for the latest release and be sure to check out some of our friends! .cocktails.wine

THE SCOUT IS OUT!


📷:
Styling:

Life is dynamic, as are your financial objectives 💰

To close out our financial wellness series, our final tip: review and rebalance ⚖️

As your wealth expands, your financial goals and risk tolerance shift and change. Our goal with every client is to keep their strategy aligned with their objectives, values, and risk tolerance every step of the way.

Ultimately, knowing their financial portfolio is under regular review provides our clients with peace of mind and a sense of security 💝

That’s it for our financial wellness series! If you missed a tip, scroll back through our feed to check them out. Was this series helpful for you? Let us know in the comments! ⬇️

We are back with part two of our series on building sustainable financial wellness!

Today’s topic: protecting your assets 📉

Protecting your assets is essential to avoid potential tax or creditor challenges. A regular review of relevant laws with a financial expert can make a world of difference in securing proper protection.

Asset-protection planning can involve employing a variety of strategies, like establishing distinct legal entities such as corporations, partnerships, and trusts. These decisions depend greatly on the nature of your assets and other factors.

That’s where we come in! We sit down with clients and discuss the type of protection required for their unique financial circumstances 💪

Have questions about asset protection? Give us a call, and stay tuned for part three coming soon!

We are kicking off 2024 with tips on financial wellness! While many of us start off the year with resolutions to budget better and save more, how can we actually protect and build wealth?

One of the most important topics we talk to our clients about is diversifying their portfolio 💰

Diversifying your investment portfolio is a crucial strategy to manage risk and potentially improve returns over the long term. In other words: don’t put all your eggs in one basket 🪺

This involves spreading your investments across different asset classes and securities to reduce the impact of any one investment's poor performance.

Feel free to share this tip with your network to help them on their financial wellness journey. And stay tuned for part two coming soon!

Goldilocks labor market, inflation and the Fed

Overall, major U.S. equity indexes traded slightly higher last week courtesy of a “just-right” monthly employment report. By last Friday’s close, the S&P 500 tacked on 0.21%, the Nasdaq 100 rose by 0.54%, and the Dow Jones Industrial Average closed nearly unchanged—higher by 0.01%.



S&P 500 Highest Close of Year



The broadest measure of the U.S. economy, the S&P 500, closed on Friday at its highest closing level of 2023—a great time to be a disciplined long-term investor!



Bulls were not roaring as loudly last week as they had been in recent weeks, as they were primarily waiting for the big jobs number on Friday.



Last week’s gain for the S&P 500 marks six consecutive weeks of gains.



Smooth and Steady Jobs Report



Market participants wanted to see a “just-right” number heading into the big jobs number last week, and they got their wish!



Jobs data for November implied somewhat of a “Goldilocks” scenario, with nonfarm payroll data showing a seasonally adjusted gain of 199,000 jobs in November, versus the Dow Jones estimate of 190,000. This figure was above the October gains in payrolls of 150,000, with the data interpreted as ”just right”.



Many of the recently created employment opportunities have been in the healthcare and government fields.



The jobs number coming in very close to expectations is welcome news for the markets, as less volatility in actual labor market results versus expectations can be seen as constructive.



Market watchers are enthusiastic about the present labor market picture showing signs of the economy experiencing a soft landing (as opposed to a recession) as the economy begins to cool.



As an added bonus, the U.S. unemployment rate dropped to 3.7% versus expectations of 3.9%, further adding to the goldilocks-like theme.



Treasury Yields Drop Further



After touching the 5% level in October, the 10-year Treasury yield has fallen drastically, closing last week near 4.244% and helping to fuel the rally in U.S. stocks.



Has it fallen too far, too fast? It’s possible.



While the drop in yields has provided the necessary backdrop for equities to rise in November and now into December, a further plunge in yields could garner concerns about retriggering inflation.



For now, lower yields are more than welcome for U.S. stocks. Let's see how the Consumer Price Index (CPI) data affects bond yields this week.



Inflation Data on Tap



On that note, with the November jobs report out of the way, attention this week will turn to the CPI data on Tuesday morning, followed by the Fed rate decision and subsequent commentary on Wednesday.



The monthly consumer price index for November is expected to show a year-over-year increase of 3.1% after last month's data showed an increase of 3.2%.



The monthly CPI data has been trending lower since peaking back in July of 2022, where year-over-year increases in prices ran at 9.1%. We have come a long way!



It's Fed Week



It's a double whammy this week, with CPI on Tuesday and the Fed on Wednesday. The consensus is that the Fed will leave rates unchanged this week, with the CME FedWatch Tool showing a 97.1% probability of such an outcome as of last Friday's market close.



More important will be the Fed's written statement and commentary, through which investors will gauge the Fed's mood going forward.



Putting It Together



Life can move fast; so can the financial markets. It has been a remarkable change in tune for the financial markets in just a mere five weeks.



It is fair to say that very few people saw the size of the stock market rally coming in November and now leading into December. As long-term investors, we will take it! Sticking to our plan and strategy is the discipline that gets things done.

As the year draws to a close, it's the perfect time to get your finances in tip-top shape! 💰

Here are some quick tips to help you wrap up the year on a strong financial note while taking a break from your bustling holiday gatherings:

📆 Reflect on your financial goals: Consider where you could improve financially and develop 2024 goals based on this reflection. Some common ones: saving more for retirement, tackling debt, or building an emergency fund.

💸 Analyze your expenses: Review your past year's spending, use budgeting software to give you a clear snapshot of your expenses, and pinpoint areas for cost-cutting to craft a better budget for 2024.

💼 Supercharge your retirement savings: If you have the financial means, you may want to consider boosting your retirement contributions for lower taxes and a more secure financial future.

📝 Tax-saving strategies: Explore tax deductions, and consider year-end charitable donations to reduce your tax bill. Remember, it’s always a good idea to consult a tax advisor for personalized guidance.

🧾 Prep for tax season: Get organized! Collect financial and tax documents for a smoother tax-filing process and stay updated on tax law changes.

🏡 Check your insurance: Review your insurance policies (health, home, auto, and life) and adjust coverage to avoid unnecessary costs.

Ultimately, financial health is a journey, not a destination. Regular monitoring and adjustments are key! 💪

Have any other financial wellness tips to add to the list? Drop them in the comments!

Have you heard about the changes to required minimum distributions (RMDs)?

In the past, hitting 72 marked the start of mandatory RMDs from retirement accounts. But guess what? Thanks to the SECURE 2.0 Act, the RMD age has been bumped up to 73 until 2032. And in 2033, it'll jump further to 75! 🎉

These changes can feel really confusing 😵‍ If you, or someone you know, is approaching retirement age, swipe through to learn about how you may be affected by these changes ↩️

Sending warm wishes your way as Thanksgiving approaches! Whether you're surrounded by a crowd or just a cozy few, we hope your holiday is full of joy and good health 🦃

Please remember our office will be closed on Nov 23-24. We'll be back in action on Nov 27. Enjoy a fantastic Thanksgiving! 🍁

Financial planning can feel a little spooky sometimes! If you or anyone in your network is in need of guidance, know we’re here to help you learn the ✨tricks✨of the trade.

DM us, give us a call, or shoot over an email to set up a complimentary consultation, and we’ll give you a shout 👻📞

One question that often comes up when investing is: "What if I need my money back?" 💸 It's an understandable concern, especially for new investors who may not be familiar with the timeline of their investments. But fear not, we’ve simplified the different factors to consider and the options available to you if you need to access your investment funds.

Hope this post eased your concerns so you can invest confidently! Share this insight with any new investor you know 📈💰

Today, we're diving into bonds, mutual funds, and ETFs 🤯 These might sound intimidating, but they're actually pretty simple concepts.

We hope this post helps you! Drop which one you prefer in the comments below ⬇️

Here’s a question that many new investors have: what is the difference between a stock and a share? 🤔 These often get confused, which is why we’re here to clear things up.

Share this info with your friends to help them navigate the world of investing!

Today, we're going to tackle a topic that can make even the most experienced investors break out in a cold sweat: minimums 😅 We often get asked if there is a minimum to invest. In a nutshell, the answer is yes.

Did you know this about investing? Keep checking back into the series so you can start investing with confidence! 😎

Investing can be a powerful way to grow your wealth and achieve your financial goals, but it can also seem overwhelming 😰 That's why we've put together a series to demystify the world of investing and provide you with some key information and tips to get started!

We’re kicking off this series with tips on determining how much income you should invest 💰

Whether you're a complete beginner or just looking to brush up on your knowledge, follow along for more insights and guidance on how to invest with confidence.