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Book Review: The Psychology of Money – by Morgan Housel

Rare is the book that is at once wise and entertaining. The Psychology of Money is such a book. It is full of new perspectives about the modern world of finance. Its essays add greatly to our understanding of how to successfully negotiate our relationship with money. Housel writes in a clear and accessible style offering many fascinating stories to illustrate his points. The book consists of 20 brief chapters about a range of topics such as: Getting Wealthy vs.…

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Is it Time for Inflation?

Those of us over a certain age may have a foggy memory of times when the prices of goods and services rose at a rapid and destabilizing pace. Inflation has ceased to be much of an issue for almost 40 years. The Federal Reserve Board, which sets the all-important Federal Funds rate on which most other interest rates are based, pushed that rate up to nearly 20 percent in 1980 to slow down the economy, ending the out-of-control inflation of…

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The Great Disconnect

“There really isn’t any doubt that financial markets remain broken and divorced from reality.” – David Rosenberg Rosenberg Research Economic Research for Informed Investing “Never before have I seen a market so highly valued in the face of overwhelming uncertainty…” – James Montier GMO Investments and Asset Management Stock Prices In early September the U.S. stock market (as measured by the S&P500) hit a new all-time high. Stock prices are now almost 11% higher than they were on January 1,…

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COVID Scams

As if dealing with business shutdowns, wearing masks, and the general annoyance that this pandemic has brought us wasn’t enough, now we have to worry about more scams. Hackers and thieves have resorted back to some good old-fashioned tricks, but there are some new ones popping up that might surprise you. Do not respond to texts, emails, or calls about checks from the government. Some new scams are offering “help” to get an expedited stimulus check. The government doesn’t work…

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Personal Finance Applications

Having an easy to manage spending plan is the cornerstone for financial success. It’s important to know your cash inflows and outflows so that you make the most of your hard-earned cash. Knowing how much you spend on categories like groceries, eating out, or gas can help you identify areas where maybe you are spending too much. This can help you direct funds towards something else that has importance to you, such as saving for retirement, a new home, or…

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An Unconventional Approach

A widely held belief in both academia and the investment industry is that a person should have as much of their money in stocks as they can tolerate because stocks have provided the highest returns over long periods of time. Most people cannot handle the erratic volatility of an all stock portfolio so many advisors say “let’s do 60% in stocks and 40% in bonds” in order to make things a bit more palatable. “60/40” has come to be the…

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Our Newest Certified Financial Planner™

We are pleased to announce that Michelle is officially a CERTIFIED FINANCIAL PLANNER™ professional!  She successfully passed the CFP® Board exam in November. What is a CFP®? A CERTIFIED FINANCIAL PLANNER™ is an advisor who has met rigorous education and experience requirements, and is held to a high ethical and professional standard in the financial industry. The education component is met by completing college level courses in investment planning, tax planning, retirement planning, estate planning, insurance planning, financial management, and…

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JourneyTree Plants Trees!

In April the JourneyTree team got their hands dirty planting trees with Friends of Trees on 18th and Oak. They helped plant 10 trees in the area as part of the Trees for Concrete program. The Trees for Concrete program consists of removing big chunks of unnecessary sidewalk, bringing in new soil, and planting trees appropriate for the site. Benefits of trees in the city: Reduce noise Filter the air and water Decrease stress and improve mood Add beauty Provide…

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Identity Compromised?

If you or someone you know has become a victim of identity theft, here are a few steps which should be taken immediately: Check for and clean computer of any malware. Change passwords for all services: email, social media, financial sites, etc. Place a fraud alert with one of the credit agencies: Experian, TransUnion, or Equifax. Contact JourneyTree to make us aware so we can contact TD to have additional security measures added to your accounts. For additional assistance and…

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FAQs

Why do rising interest rates negatively affect bonds? Sam has a bond paying a 2% coupon. The Fed raises rates to 3% and suddenly, Sam’s bond is not as attractive, so the price of his bond drops to reflect the new yields. Along comes Bob – he can now either buy the new 3% bond, or buy Sam’s 2% bond but at a discount to ultimately yield 3%.

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