Presidents Don’t Make Markets, But Markets Can Make Presidents
The U.S. economy had been in the boxing ring for over a year, taking on a series of rapid and forceful interest rate punches from the Federal Reserve.
Jobs are plentiful and salaries are on the rise. Paychecks are automatically and relentlessly being invested into our country’s retirement system via 401(k)s and IRAs. Year-to-date, most major stock indexes have cruised higher. Bonds are providing meaningful income and personal real estate values have held strong.
Sure, credit card defaults are on the rise, but that’s our economy just getting back to normal following the government stimulus checks during the pandemic. It’s healthy to be past a time of artificially low default and interest rates.
Markets are hovering near all-time highs, but this is not a speculative bubble. Investors are aggressively saving in their 5% USD money market, not in crypto currencies. While elections can be nerve-racking, we do not believe it can kick this powerful economy off course. We know markets don’t like uncertainty, and while politics remain unpredictable, the candidates are all too familiar.
Regardless of the election’s outcome, change is inevitable. The Federal Reserve is expected to lower interest rates, and the Tax Cuts and Jobs Act of 2017 will expire in 2025, resulting in an automatic increase to personal taxes. To plan for these potential events, we’ve been discussing shifts from variable rate investments to fixed rate and often tax-free income strategies. With higher taxes looming, the demand for tax-free income should rise, enhancing value in these investments. If you are enjoying the higher interest income in a variable money market, together we should start considering locking in these higher rates before the Fed starts cutting.
While the upcoming election is not a reason to change your financial plan, it is a great reminder of why having one is so important. We know summer schedules are busy, and planning needs don’t always happen at the same time every year. If we can help, no matter when you need us, please reach out.
"I Know It's Only Rock 'n' Roll, But I Like It" - The Rolling Stones
Lights, music, and a legendary band—what more could you ask for? This spring Theresa and her family experienced the Rolling Stones live in Las Vegas. For some members of the family, it was their first time, and for others, it may have been their last chance to see this iconic (and older) band in concert.
Theresa had an unforgettable night filled with classic rock hits, an electrifying performance, and an atmosphere that was nothing short of spectacular. The legendary band's energy and charisma on stage made for a truly memorable experience. From the iconic "Satisfaction" to the energetic "Start Me Up," they played all the hits and every moment was a celebration of the Stones' enduring legacy.
On the homefront, Theresa’s vegetable garden might be a little sporadic this season. The snowfall in June made planting difficult for all in Montana, but Theresa’s also been battling a neighborhood cat that’s been doing some harvesting of its own. Interestingly, beets are the cat’s vegetable of choice. To those fellow gardeners out there, Theresa spreads sincere wishes for bountiful harvests and productive time outside.
From Lego-Land to Crystal Hunts: The Meeks Family’s Unforgettable Start |
Summer started with a bang for the Meeks family. Instead of a car ride home on her last day of school, Daphne (age 7) was off to the airport. Nichole, along with three other firstgrade mothers, planned a surprise adventure to Lego-Land. For those unfamiliar, it’s exactly as it sounds: a Lego-themed Park, this particular one located in California. The excitement was immeasurable, and the trip was filled with unforgettable mother-daughter fun!
Lego-Land, however, was a girls’ trip. So, Ryan and Brooks (age 5) needed to plan their own adventure. As many adventures do, this one began at the local Owenhouse Ace Hardware store. After picking up gloves, buckets, shovels, and unnecessary but agreed-upon snacks, they were on their way to Dillon, Montana. They stayed at a small fishing lodge near the Beaverhead River, where they practiced a bit of fly casting. 
But the main event was Crystal Park, a 220-acre site reserved by the Forest Service for “rockhounding.” Though it was their first time digging for crystals, they unintentionally looked the gritty part. Brooks, known as the family’s little deductible, accidentally hit his head on the bed’s headboard at the lodge the night before. While his initial words were, “we don’t need to go to the doctor” and “we don’t need to tell Mom,” they quickly did both.
Big compliments to Dillon’s Emergency Room. Not only were the three stitches quick and clean, but the entire staff also played along when Brooks mistook the word “stitches” for “sticker.” Stickers are way easier! Brooks remains healthy and with full memory, while the subsequent fun of finding crystals has clouded his recollection of getting three stitches.
As usual, the Meeks will stay local and burn the summer candle at both ends. Camps and family fill their busy schedules, while the more relaxed river rafting days have been set aside for August.
| Collecting Memories |
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This spring Jase took a semispontaneous trip to Europe, marking the first international experience for the Montana native. Early this year Jase and a group of friends took an opportunity to see an old college buddy, now living in Dublin, Ireland, when they were invited to visit over Easter weekend. With two months to put a plan in place they built an ambitious travel itinerary, consisting of stops through three different countries - Ireland, Italy, and Scotland - over a week and a half.
The friend group made it a point to experience as much as possible with their limited time, fully embracing the “pub culture” of Ireland, touring the ancient ruins of Rome, and sampling haggis (worth a Google) in Scotland, which Jase claims was “actually not that bad.” The most notable part of their adventure was the Easter tradition the group experienced in Rome, highlighted by Mass at the Vatican on Easter Sunday, which was almost entirely in Italian. Unfortunately, Jase does not speak Italian, however he still appreciated the experience. Upon his return, Jase quickly stated his desire to travel back to Europe to give each of these countries the extended time that they deserve. It’s a good reminder that while work can fill your savings, adventures will fill your soul.
With summer finally in full swing here in Montana, Jase plans to spend ample time outdoors fly fishing, camping, and backpacking in our vast national forests.