Bral Niedert Private Wealth Advisors

Ever stop to think about how the smallest acts of kindness can sometimes make the biggest impact?

Whether it's holding the door open, sending a thoughtful text, or sharing a smile, these little gestures can brighten someone's day more than we realize.

Keep spreading those good acts and making the world a bit brighter, one small act at a time. ✨

Have you heard of Acquired, one of the business world’s favorite podcasts?

The buzz is that all the most brilliant business minds are tuning in. Acquired goes behind the scenes of the biggest tech initial public offering and acquisitions of all time and boasts an average of over 500,000 listeners per episode.

Some unusual but interesting facts about the podcast:

- They are LONG, but people still love them–episodes are in-depth dives, averaging a whopping 3-4 hours. They’re more like "conversational audiobooks."

- Unlike typical podcasts with frequent releases, Acquired prioritizes quality. It releases meticulously researched episodes just 12 times a year, and each episode feels like an event.

- The show explores companies across industries, offering a broader perspective on building and sustaining success. As investor David Rosenthal puts it, "Corporations are the biggest and best nonfiction stories of our day."

Hosts Ben Gilbert and David Rosenthal are known for their in-depth research and clear storytelling, turning complex business histories into captivating narratives. Episodes include conversations with today’s leading business minds,

Whether you're a seasoned entrepreneur or simply fascinated by the stories behind the world's most successful companies, Acquired is a podcast worth adding to your queue.

Did you know that economic trends tend to have a more consistent relationship with market performance than who wins in November?

As we approach the 2024 election, here's what you need to consider:
1️⃣ As the chart shows, who sits in the Oval Office is only one factor in stock prices
2️⃣ The stock market has fluctuated under the leadership of both parties
3️⃣ The overall economic conditions tend to have an influence on the business environment

Our take: Be prepared for some volatility as the election approaches. But don't let short-term price swings distract you from your long-term financial goals.

With our summer adventures now in the rear view mirror, work-life balance may be top of mind for some of us.

A study published by Compare the Market Australia ranked countries based on work-life balance and related factors affecting happiness. The results were really interesting…

The top takeaway? Happiness and work-life balance go hand in hand, and the U.S. is not at the top of the list.

What can you do to improve your work-life balance?

👉 Set boundaries: Learn to say "no" & disconnect after work hours
👉 De-stress: Exercise is a great way to help manage stress & improve overall well-being
👉 Find fulfillment: If your job drains you, consider your choices

As financial professionals, we help families pursue their goals. Personal finances are a key piece, but other factors go beyond money. A healthy work-life balance might help you enjoy the fruits of your labor.

Stocks notched modest gains in August, helping investors forget a volatile month of trading, punctuated by upbeat comments by Fed officials about interest rates.

Monthly Market Insights | September 2024 Stocks notched modest gains in August, helping investors forget a volatile month of trading, punctuated by upbeat comments by Fed officials about interest rates.

Imagine this: you mail a check to one of your accounts only to discover later it's been stolen, altered, and deposited into something you don't recognize.

Mail theft is more common than you might think. It has steadily risen nationwide, with cases surging by 400% since 2019.

Check out this real-life example:

A recent incident involved an individual mailing a check for estimated taxes to the IRS. Unfortunately, the check was intercepted during mailing. The thieves then cleverly altered the check, making it payable to two individuals. The fraudulent check was deposited into separate accounts under the thieves' names.

Thankfully, the bank eventually resolved the issue, but the experience serves as a stark reminder: fraudsters are constantly innovating, and mail remains a target.

Here are some steps to consider:

🔘 Go digital: Many institutions, including the IRS, offer online payment options. Switching to electronic payments eliminates the risk of mail theft.

🔘 Shred sensitive documents: Don't toss out old bank statements or credit card offers. Take the time to shred anything that relates to your personal finances.

🔘 Monitor, monitor, monitor: Review bank and credit card statements regularly. If you notice something unusual, report it immediately.

Don’t think that fraud can just occur online. Take steps to help protect yourself both off and online!

The bond market's yield curve has briefly normalized, reversing a key recession indicator. This shift marks a change from recent trends, but its implications aren't straightforward.

Historically, normalization can precede economic changes. Coupled with a decrease in job openings, this could influence future Fed decisions. However, it's crucial to remember that no single indicator tells the whole story.

Key takeaway: This change is significant but doesn't guarantee economic direction. Multiple factors still influence market conditions, underscoring the importance of comprehensive analysis.

💡 Economic indicators are complex. When evaluating financial trends, always consider the bigger picture.

Bond market 'yield curve' returns to normal from inverted state that had raised recession fears The relationship between the 10- and 2-year Treasury yield briefly normalized Wednesday, reversing a classic recession indicator.

We hold them in our hearts.

23 years ago today, our nation witnessed unimaginable acts of violence. We remember the innocent lives lost, the families forever changed, and the heroes who ran toward danger. May their memory be a lasting reminder of the strength that unites us in the face of darkness. ️

🌀 It’s hurricane season.

Remember Hurricane Beryl, which made landfall in the Caribbean just a few months ago? It now holds the title of the strongest hurricane on record in July.

In fact, no other storm reached Beryl's level of intensity so early in the hurricane season, which runs from June 1 to Nov. 30.

🌀 Interesting Hurricane Facts for 🌊

🔘 When fully developed, one hurricane can release heat energy equivalent to a 10-megaton nuclear bomb exploding every 20 minutes.
🔘 They are rated on the Saffir-Simpson Scale from 1 to 5 based on wind speed (74-95 MPH for Category 1, 157+ MPH for Category 5).
🔘 And can travel over 60 miles per hour.
🔘 The typical hurricane is about 300 miles wide, affecting large areas.

Our take: The best preparedness comes from community connections. Knowing your neighbors and local resources can be as vital as any emergency kit.

September is National Preparedness Month, and being ready is more crucial than ever. But preparedness isn't just about stockpiling water and batteries.

Some less obvious but impactful prep ideas:
✅ Create a neighborhood group chat for emergencies
✅ Familiarize yourself with your area's evacuation routes
✅ Have a plan for your pets
✅ Consider storing important documents digitally

For more preparedness tips, check out FEMA's interactive prep guide.

Any other tips? Share below!

This is a good time for a reminder to reflect on our financial futures. With the rising cost of living and lack of savings, the retirement crisis is real.

1️⃣ The Retirement Savings Gap: Many Americans believe they have not saved enough for retirement, with a portion having set aside less than $10,000.

2️⃣ Rising Costs: Healthcare and living expenses continue to climb, making retirement preparation crucial.

3️⃣ Social Security Uncertainty: The future of Social Security is uncertain, and relying solely on it is risky.

💡 My Take:
It is crucial to focus NOW on your financial future.
It's never too early or too late to start preparing for retirement.

As financial professionals, we specialize in creating personalized financial strategies that help address these challenges. Our proactive approach is designed to show clients how to take control of their financial future and work towards retirement.

If you know someone who isn't working with a financial professional, feel free to share this information. We welcome the opportunity to work together.

🏈The 2024 NFL season kicks off on Thursday, September 5th!! Anyone else excited? 🎉

The defending champions Kansas City Chiefs will host the Baltimore Ravens in an AFC title rematch. Wonder if any famous singers will be there cheering? 🎤

Just as NFL teams meticulously prepare their playbooks, fans should tackle their financial game plans with equal fervor. In both football and finance, a strong offense can be the best defense against future challenges.

As financial coaches, we help clients draft a winning strategy and make smart plays that are designed to lead to long-term financial success.

👇 Share your picks for who will make it to the Super Bowl. Will Kansas City do it again?

📚 Attention college-bound families!

The FAFSA rollout for the 2025-2026 school year is changing, and it's important to understand how this might affect you.

The Department of Education is implementing a staggered release with the following schedule:
💻 A limited rollout begins on October 1, 2024.
💻 Public access opens on December 1, 2024.

This delay is intended to prevent the technical issues we saw last year. While it pushes back the timeline, it shouldn't cause major disruptions for most applicants.

Here's what you need to know:
🔹 FAFSA is crucial for accessing federal aid, grants, and scholarships.
🔹 Even with the delay, most colleges' financial aid deadlines should still be met.
🔹 Submitting early can maximize your chances for financial support.
🔹 It's worth applying even if you think you might not qualify.

Stay informed and plan ahead to make the most of your college funding options. Remember, timing can make a significant difference in the aid you receive. 💡

Another School Year, Another FAFSA Delay. What to Know About Financial Aid Deadlines Timing could mean the difference between qualifying for free money for college and getting stuck with student loans.

Today, we celebrate the contributions of workers everywhere!

In our jobs, we see the heart behind all that hard work. You put in countless hours to build a comfortable life, perhaps save for your children’s education, or create a strategy for your dream retirement.

We help families turn their aspirations into action steps based on their goals, time horizons, and risk tolerance.

So, this Labor Day, as you relax and recharge, take a moment to consider your own future. What does your dream retirement look like? How do you measure whether you are on track?

If these questions linger, we’d be happy to chat and explore ways that we can help you navigate your financial journey.

Happy Labor Day, and here’s to a bright future for all!

kicks off on September 15th, which coincides with the anniversary of the independence of Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua. Mexico and Chile follow suit on the 16th and 18th.

This month-long celebration, which began as a week in 1968 and expanded in 1988, honors the rich histories, cultures, and contributions of American citizens with roots in Spain, Mexico, the Caribbean, and Central and South America.

Hispanic Americans have shaped our nation in countless ways, from art to science, cuisine to music.

As the talented Lin-Manuel Miranda reminds us,
"I am the one thing in life I can control. I am inimitable—I am an original."

Here’s to celebrating Hispanic Americans' unique and invaluable contributions to our national tapestry.

Emotions play a significant role in our relationship with money and financial decisions.

For some people, deep-rooted emotional obstacles tied to money can make certain aspects of personal finance more difficult and stressful.

Financial trauma is a real and impactful consequence of experiences like childhood poverty, economic downturns, fraud, and more—and can manifest itself during the personal finance process.

Some examples are:

● Financial inaction: Feeling overwhelmed and unable to take control.
● Decision paralysis: Difficulty making financial choices due to anxiety.
● Scarcity mindset: A pervasive fear of running out of resources.

Recognizing these and other potential roadblocks is crucial for pursuing financial well-being.

Financial professionals can offer a supportive environment to help address some of these challenges. They’re way more common than you might think.

🐘🐴 Ever wondered why a donkey and an elephant became the symbols of our two major political parties?

🎨 Political cartoonist Thomas Nast made these symbols popular in the late 1800s. In 1870, Nast satirized the Democratic Party as a donkey, mocking their stubbornness in the face of progress during the Civil War era. The symbol resonated with the public and stuck.

🐴 Over time, Democrats reclaimed the donkey, transforming it into a symbol of their determination, resilience, and tireless work ethic.

🐘 In 1874, Nast struck again, this time depicting the Republican Party as an elephant. Nast chose the elephant to represent the party’s strength, intelligence, and dignified nature, traits the GOP sought to embody.

Today, these mascots continue to embody the spirit of their respective parties as we head into another election season. 🗳️

The latest Fed minutes suggest we might see an interest rate cut as soon as September. Here's what you need to know:

▪️ Most Fed officials believe easing policy could be appropriate if data continues as expected
▪️ Markets are fully pricing in a September cut
▪️ Inflation is moving towards the 2% target, but labor market risks have increased

What does this mean for your portfolio? It's a great time to review your investment strategy and consider how potential rate changes might impact your financial goals.

Stay tuned for more updates, and don't hesitate to reach out if you have any questions about positioning your finances in this changing economic landscape!

Fed minutes point to ‘likely’ rate cut coming in September The Federal Reserve on Wednesday released minutes from its July 30-31 policy meeting.

Did you know the global AI market is projected to reach $1.8 trillion by 2030?

That's a forecast, and it’s subject to change without notice, but the growth prospects may present exciting opportunities across various sectors.

While we see headlines about a handful of well-known companies, there's a whole network of “Pick-and-Shovel” firms quietly fueling the AI revolution.

Who are the "Pick-and-Shovel" players?

Semiconductor manufacturers, cloud infrastructure providers, and AI chip designers are paving the way for AI adoption. These "Pick-and-Shovel" companies may play a critical role in building and scaling AI technology.

Financial headlines can be distracting, and the fear of missing out on the next big thing can lead to do-it-yourself investors making rash decisions.

We are closely monitoring how AI is changing the economic landscape and determining if AI might play a role in our clients' overall strategies.

What are your thoughts on AI's role in the future of finance?

Are you taking full advantage of your workplace benefits? Are health savings accounts (HSAs), 401(k)s, disability insurance, and flexible spending accounts (FSAs) offered by your workplace?

Here's a quick breakdown:

HSA: Triple tax-advantaged account for qualified medical expenses. Your contributions are pre-tax and grow tax-deferred, and withdrawals for qualified expenses are tax-free. If you spend your HSA funds on non-qualified expenses before age 65, you may be required to pay ordinary income tax and a 20% penalty. After age 65, you may be required to pay ordinary income taxes on HSA funds used for non-qualified expenses. HSA contributions are exempt from federal income tax; however, they are not exempt from state taxes in certain states.

401(k): Retirement savings plan with pre-tax contributions and potential employer matching. We can help individuals determine a contribution amount that fits their situation. Once you turn 73, you must take the required minimum distributions from your 401(k). Withdrawals are taxed as ordinary income and may be subject to a 10% federal income tax penalty if taken before age 59½.

Disability Insurance: Income replacement if unable to work due to illness or injury—a safety net designed to help you and your family. Disability obligations are dependent on the issuing company’s ability to make claim payments.

FSA: A way to use pre-tax dollars for eligible healthcare and dependent care expenses. Unlike an HSA account, you may have to spend your FSA funds before year-end, adhering to the “use it or lose it” rule. There are some exceptions.

Don't miss out on these valuable resources! Understanding and maximizing your benefits can help your financial situation.

Need help navigating your workplace benefits? Let's connect. We might be able to offer some insights and help create a personalized strategy aligned with your financial goals. 🤝

The alarming rise in elder financial exploitation (EFE) is reaching new heights, with adults aged 60 and over reporting more than $1.6 billion in losses per year due to scams, according to the Federal Trade Commission.

What's even more concerning is the increasing sophistication of scams fueled by artificial intelligence (AI). 🤖

Scammers are now using AI-generated voices and deep fake videos to impersonate loved ones, government officials, and even celebrities, making distinguishing reality from fiction more challenging than ever.

The Financial Crimes Enforcement Network (“FinCEN”) released its Financial Trend Analysis in April 2024. It focused on patterns and trends identified in Bank Secrecy Act (“BSA”) data linked to Elder Financial Exploitation (“EFE”).

Key findings include:

▪️ Banks filed 72% of all EFE-related filings.
▪️ 80% of EFE-related filings involve transferring money to a stranger for a promised benefit that the older adult does not receive.
▪️ 20% of EFE-related BSA filings involve theft, where a trusted person steals from an older adult. Unfortunately, 40% of elder theft reports named the elder adult’s children as the perpetrators.
▪️ Perpetrators mostly rely on approaches that minimize direct contact with bank employees, including previously compromised usernames and passwords, guessing passwords, or phishing emails that elicit replies containing sensitive information.

We all have a role in helping protect our seniors from financial exploitation.

Be sure to take proactive steps to help educate and protect your loved ones. Let us know if you’d like to discuss ways to potentially safeguard their financial well-being.

Frequent flyers, this one's for you! 📱

If you have an iPhone, Google has made it super easy to get up-to-the-minute updates on flight status—there is no need to use a flight tracker app or go to the airline’s site.

Just text yourself your flight number (like AA1234), and it will appear in your messages as a hyperlink.

Click on the link and select “flight preview” to get all the info you want.

Thought it was a pretty good hack I hadn’t heard about. Hope it’s helpful. 😎

As summer winds down and college move-in day approaches, it's important to think beyond the dorm room essentials.

Here are three key areas you might want to address before your student heads off to campus:

1️⃣ Legal Authorizations: Once your child turns 18, they're legally an adult. Consider establishing a Power of Attorney (POA) if you want to continue to play a role in their healthcare and finances. Also, a Family Educational Rights and Privacy Act (FERPA) authorization can help if you want access to their academic records. Having these documents in place may allow you to step in if needed.

2️⃣ Allowance and Financial Responsibility: Have a candid conversation about budgeting and financial responsibility, including credit card use. Determine an appropriate budget, and don’t forget to decide whether they can continue to use your accounts for things like Amazon and Uber.

3️⃣ Out-of-State Insurance Coverage: Review your health insurance plan and check to see if it covers your student's location. Explore renters insurance if they'll be living off-campus. If they're leaving their car at home, you might be eligible for a modified insurance rate.

These are important topics to discuss as your children leave “the nest.” If you have any questions, please reach out. We can work with your legal professional to help your family get the appropriate documents in place.

With the Summer Olympics in full swing, it's hard not to be inspired by the athletes' dedication and preparation. 🏊‍♂️🏆

Just like swimming legend Mark Spitz, who famously said, "If you fail to prepare, you're prepared to fail," success in any field–including finances—requires preparation!

Don't be a spectator in your financial future. Now is the time to strategize and equip yourself with the knowledge and tools you need to pursue your goals.

A little preparation today can help you tomorrow!

Here’s another observance you might have missed—this week is National Simplify Your Life Week. Who knew?

It made me think about organizing and cleaning out some of our closets and maybe even tackling the garage (who doesn’t love a clean garage?). But more importantly, it’s also a good reminder that your finances can become cluttered and unorganized just as easily as your home.

Here are a few simple steps you can take to simplify your financial life:

Review your budget: Take a close look at your income and expenses to see where your money is going and identify areas where you can cut back.

Consolidate accounts: Combining multiple accounts or credit cards can make tracking your spending and managing your money easier.

Automate your finances: Consider setting up automatic bill payments and savings transfers to help take the guesswork out of monthly finances.

Declutter your wallet: Get rid of old receipts, unused gift cards, and expired coupons to create a more organized and streamlined wallet.

If you're looking for guidance on consolidating and organizing your finances, we can offer a few tips.

UBS's 2024 global wealth report reveals eye-opening trends:
Did you know 1 in 15 Americans has a net worth of $1 million+?

Global wealth bounced back 4.2% in 2023, with projections suggesting continued growth in millionaire numbers through 2028.

These statistics offer a fascinating glimpse into wealth distribution and potential economic shifts. Remember, everyone's financial journey is unique.

👉 Schedule a review of your long-term financial strategy today. Let's ensure you're positioned to navigate these evolving economic trends!

One out of every 15 Americans is a millionaire, UBS says The U.S. has 22 million people worth at least $1 million, according to UBS, about the same as Western Europe and China combined.

The lazy days of summer are coming to a close, and we’re now entering National Back to School Month! 📚✏️

This time of the year can be both exciting and stressful. There’s a lot to coordinate: purchasing supplies, signing up for afterschool activities, and simply readjusting schedules.

But there’s no doubt that education is one of the greatest investments we can make in our children’s futures. This month, whether you have children or grandchildren, we can all help support the next generation, especially those less fortunate than us.

Think about donating supplies, volunteering your time, or contributing financially to initiatives such as Junior Achievement USA—every bit helps.

Helping families with financial strategies to fund educational goals is one of the most rewarding parts of our jobs. It is also so fulfilling to support education in our communities during this time of the year.

What community events do you participate in?

Let's face it: budgeting can be one of the least exciting things about your finances. But if you need a budget (and you might), you may want to try the YNAB (You Need A Budget) app.

Some people are missing out on a crucial aspect of a comprehensive financial strategy. Budgeting can help you understand your cash flow, set financial goals, and make informed decisions about your money.

Unlike other budgeting apps, YNAB is all about proactive, flexible, and empowering financial management.

Here's the YNAB method:
1️) Give Every Dollar a Job: Prepare your spending by assigning each dollar a task.
2️) Embrace Your True Expenses: Break down non-monthly expenses into manageable monthly chunks.
3️) Roll with the Punches: Your approach should adapt to life changes. No guilt: It's your money!
4️) Age Your Money: As you become more aware, you'll start spending less and paying bills with older earnings.

YNAB also lets you share your subscription with five other people—including your favorite financial professional. 😉

By incorporating budgeting into your overall financial strategy, you'll gain a clearer picture of your spending habits, identify improvement areas, and progress toward your short-term and long-term financial objectives. 🎯

In 2023, the number of 401(k) millionaires grew by 11.5%.

Want to join the ranks of 401(k) millionaires? Avoid these common pitfalls!

❌ Not contributing enough
In 2024, the annual 401(k) contribution limit is $23,000 ($30,500 if you're 50+)
Review how much you contribute each year and consider making changes, if possible.

❌ Tapping into your 401(k) prematurely
Borrowing from your 401(k) might disrupt your investment strategy. Taking money out of your 401(k) should be just one option to consider if you are preparing to make a purchase.

❌ Overspending and living beyond your means
By reviewing your expenses and creating a budget, you may be able to prioritize retirement savings.

The secrets to becoming a 401(k) millionaire?
✅ Commit to a contributions strategy and stick with it
✅ Choose investments that align with your risk tolerance and goals
✅ Set long-term goals and periodically monitor your progress

Remember, once you turn 73, you must take the required minimum distributions from your 401(k). Withdrawals are taxed as ordinary income and may be subject to a 10% federal income tax penalty if taken before age 59½.

Remember, slow and steady wins the race! By staying committed to your long-term goals, you just might be able to join the growing number of 401(k) millionaires.

Here’s a question we often get asked: “Should I help pay off my child’s or grandchild’s student loans?”

Paying off a loved one’s student debt can be a generous gesture; however, it’s essential to weigh the pros and cons before deciding.

👍 Pros
Allows students to focus on their careers and future financial goals
Can help the student pursue financial independence sooner
May strengthen family bonds and relationships

👎 Cons
May impact the parent’s or grandparent’s retirement strategy
Could create a sense of entitlement or diminish the student’s financial responsibility
Might have tax implications for both parties. Consult your tax, legal, and accounting professionals before applying a payback strategy.

🤔 Considerations
Assess your own financial stability and retirement approach before committing.
Determine if it's a gift or a loan, and communicate the terms.
Explore alternatives, such as co-signing a refinanced loan or offering partial payments.

🌟 Strategies
Set clear boundaries and expectations for financial responsibilities.
Consult a financial professional who may have experience with student loan payback programs and can provide guidance.

Every family’s circumstances are different. While paying off student loans can be a meaningful way to support your child or grandchild, it’s crucial to decide on the benefits and limitations for everyone involved.

🏅 Who else is looking forward to the kickoff of the 2024 Summer Olympics?

Officials in Paris project that 11.3 million people will attend the Summer Games, which run from July 26 through August 11, and 3.9 million will attend the Paralympic Games, which take place from August 28 through September 8.

Check out the list of events!! https://olympics.com/en/sports/summer-olympics

From the core events in track and field, swimming, gymnastics, basketball, tennis, soccer, and volleyball….

…to some new and lesser-known sports such as breaking (breakdancing), surfing, sport climbing, skateboarding, badminton, modern pentathlon (fencing, swimming, horse riding, shooting, and running), and handball!🕺🛹🏄‍♂️🧗‍♀️

Can’t wait to watch!

What’s your favorite event