Welcome to the latest edition of the Healy Wealth Management newsletter, your monthly guide to navigating the financial complexities of life.
Let us know your thoughts. And if there’s something that could benefit a friend or family member, please send it their way.
Concerned about the markets?
Watch for a full discussion between John Healy and Kyle Grandstaff about how we provide downside protection for non-aggressive client portfolios. Our “hedging overlay strategy” is a sophisticated approach. So, the video is a bit longer than usual. We wanted to fully address the benefits as well as common misunderstandings.
Please watch and share your thoughts and questions.
A man sees a portrait in a museum and says “Brothers and sisters… I have none. But that man’s father is my father’s son.”
Who is in the painting?
More important than the price of any good or service in our economy is the price of money, namely, interest rates. The price of money drives all other prices. It is not a free market. Rather, it is a controlled market. Our government is engaged in price fixing, a practice deemed unlawful when performed by other institutions. The Fed fixes the price of money by how much it prints. Rates are reduced by printing money, causing all other prices to rise.
So, with mostly everyone still struggling to absorb recent years of high inflation brought on by prior bouts of extreme printing, why on earth would the Fed begin lowering rates again now? They say it’s because the labor market may be weakening. They fear recession, supposedly.
We see the Fed’s first rate cut in four years as an amazing act of respect for our national values. While factually it appears that our economy is controlled, culturally, it is not. Americans are too independent for central bankers to ignore. The potential for viral protests, even in the bond market, must be considered. Clearly, the Fed recognizes that interest expense on the national debt is unsustainable and needs to come down – the sooner the better.
As we navigate through life’s many changes, it’s crucial to ensure that our financial affairs are as organized as possible.
One key aspect of this is estate planning—an often-overlooked area that plays a vital role in shaping the future of our assets and our loved ones.
Why Estate Planning Matters
Estate planning isn’t reserved for the wealthy or those with complex finances; it’s an essential aspect of managing your overall financial well-being. It ensures that your wishes are honored and provides clarity on how your assets should be handled, especially if you’re unable to make decisions for yourself.
Here’s why it should be on your radar:
Estate planning can seem daunting, but starting the conversation and taking incremental steps can make the process manageable.
By addressing these areas, you ensure that your financial legacy is protected and that your wishes are honored.
If you haven’t reviewed your estate plan recently or need assistance getting started, now is the perfect time.
We’re here to help guide you along the way.
A 2024 poll conducted by the American Pet Products Association found that more than 40% of dog and cat owners have named a caretaker in their wills or plan to do so. That sounds great. Yet not all family members want to take Mom’s pet. Far too often, pets end up at the local shelter where 60% are euthanized.
Solution? If you truly care, then consider how more people today are setting aside funds for their furry friends. Pet trusts are no longer just for the super wealthy. With a pet trust, there are usually four parties: the grantor (you), your pet, a guardian, and the trustee. For your current and future pets, the guardian uses money from the trust to care for your pet, subject to the rules of the trust, as administered by the trustee.
The trust can provide compensation to the guardian and trustee. It can also specify how you’d like your pet(s) to be cared for, including living arrangements, veterinary check-ups, vaccinations, and any necessary medical treatments. Other examples of mandatory care might be the provisions of high-quality food(s), fresh water at all times, regular exercise, play time, toys, enrichment, grooming, baths, nail trimming, coat brushing, etc. These requirements would also be subject to reporting by the trustee to your executor.
Ask your estate attorney about setting up a pet trust. It might just be the best way to ensure your pet is pampered in perpetuity.
“You cannot control the wind, but you can adjust your sails”
-Unknown
Answer: Him
Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through IFG Advisory, LLC, a registered investment advisor. IFG Advisory, LLC, Healy Wealth Management, and Integrated Financial Group are separate entities from LPL Financial. The LPL Financial registered representatives associated with this page may only discuss and/or transact business with residents of the following states: AL, CA, DC, GA, KY, MD, MO, NJ, PA, SC, TX, and WA.
Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through IFG Advisory, LLC, a registered investment advisor. IFG Advisory, LLC, Healy Wealth Management, and Integrated Financial Group are separate entities from LPL Financial. The LPL Financial registered representatives associated with this page may only discuss and/or transact business with residents of the following states: AL, CA, DC, GA, KY, MD, MO, NJ, PA, SC, TX, and WA.
