To My Readers,
If you saw the movie, The Big Short, you will remember Christian Bale’s character, Michael Burry. In real life, Burry gained notoriety by correctly predicting the epic housing market collapse in 2008 and making a lot of money because of it.
Burry made headlines again this past summer when a securities filing showed he held $1.6 billion in “Put” options, betting against the S&P 500 and Nasdaq indices. He is calling for an imminent recession and this isn’t the first time he has held such a position:
December 2015 – He predicted a stock market crash in the coming months, but the S&P 500 gained 11% over the next 12 months
May 2017 – He predicted a new financial collapse, but the S&P 500 gained 19% in the following year
February 2021- He predicted a significant market decline, but the S&P 500 gained 16% in the following months
These failed predictions should serve as a powerful reminder that market outlooks and predictions are often wrong. No one has a crystal ball to see into the future.
When it comes to long-term financial success, focus on your financial plan, and block out the noise. If you don't have a financial plan I'd be happy to discuss building one for you.
Sid Misra, CFP® Beacon Financial Group
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Love, Marriage, And Finances
I proposed to my girlfriend in August and she said Yes!! We are very excited for the next chapter of our lives.
Saying “Yes” is the easy part. Managing your life together with different ideas and beliefs around money is the difficult part.
To help with that, I am creating a new YouTube Series called
“Love, Marriage, and Finances”.
In this series, I will discuss how couples should approach money conversations before saying “I Do” and merging their lives together.
Topics will include:
Our, often differing, views around money
Beliefs, fears, feelings on money and how they shapes our decisions
Goal setting and getting on the same page
What do we want to see happen, together?
How to actually merge our finances together
Setting up joint accounts, paying bills, and saving for future goals
Handling big purchases
How do we decide on big purchases? Will this affect our long-term plan?
How do I protect myself in the worst-case scenario?
How do we want our assets handled upon our passing? How do we handle instances of incapacitation etc?
If you have any topics you would like to see discussed in this series, please let me know!
Have questions about your finances? Let me know!
I'm happy to have a quick conversation to address any questions/concerns you may have and to see if we would be a good fit to work together
What is Your Skill Set Worth?
Do you know what your skill set is worth on the open labor market? If you don’t know this, you run the risk of being underpaid for the work that you do.
I was recently speaking with a client who has been in the same job for the last 10 years. They haven't received many pay raises in that time and are struggling to manage cash flow as expenses have increased
Please understand this :
There is only so much cost-cutting you can do!
The other side of the equation is Earning More Money!
Understand what you can get on the open market for your skills/abilities and make sure you are being fairly compensated for it.
This means either asking for a raise or, finding a new job.
Whatever it is, if you don’t advocate for yourself, no one will!
Am I Doing Enough?
“I make good money and contribute to my 401k, but am I doing enough?”
- Am I in a good financial position?
- Am I heading in the right direction?
- Can I handle an emergency if something happens?
- Is there anything else I am missing?
These questions need answers - Do you have them?
If you don’t have the answers, ask for help.
The opinions voiced in this material are for general information only and are not intended to provide specific financial advice or tax recommendations for any individual.
All performance referenced is historical and is no guarantee of future results.
All indices are unmanaged and may not be invested into directly.