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Happy New Year 2024!!

January 02, 2024

Time Poverty – A term you may not have heard before but when you think about it, the term makes sense.  At the end of the day, do you ever find yourself saying; There was one thing I wanted to accomplish and I never got to it!’  Or perhaps there is that stack of books you have been meaning to read or a part of the garden simply overgrown.  Where did the time go?

Happy New Year!  A new 525,600 minutes to achieve stuff.  How long will that New Year Resolution last?  Gym Membership.  Eating habits. Following a budget. Completing your Estate planning.  Turning Taxes in on time.  And the list goes on and on. Are there any items we can take off your list or help out?

                Is my retirement plan working?

                Have I saved enough for the children’s college?

                If something happened to me or my wife, are we protected?

                Am I sitting on too much cash, earning .0001%?

As I write this, I reflect on 2023.  As of Dec. 29 the S&P 500 was up over 24% for the year, rising 16% in just the last 10 weeks...  The 30 year bond started the year at 4% and ended about in the same place, but going as high as 5.1% in the fall.  We saw mortgages at recent highs, stalling the housing market.  Gold is up over 8%.  Each of these benchmarks saw low points during the year, enough to make the investor nervous. ( see note at the end of the Blog*)

Is 2024 going to be more calm and steady?  Typically, stocks are up when incumbents win and down when incumbents lose.  Anyone want to place a bet?  Some States are racing to erase names from Ballots, but not ready to completely erase a name as the ‘Courts’ may have something to say.  And then there is the fray on the debate stage which seems to be holding fewer podiums.  Just the right amount of silliness to make markets shaky.

What’s a person to do?  I began this blog speaking of time poverty.  However, each of us has the same 525,600 minutes in front of us.  How can get the most out of your minutes?  Stephen Covey had a principle of Sharpen the Saw.  The advantage goes to the person who stops every once in a while, to sharpen his or her saw.  How can we put this to work in our lives?  First, decide on what is most important to you and the greatest skills you bring to the game.  Don’t do the stuff that isn’t important and use your skills to help others.  Find someone who can help with the things that need doing that you don’t have the skill set for.  When someone gets to the Super Bowl we might be talking about a quarterback or a receiver, but the team didn’t get there without blockers, centers, kickers and coaches.  Take a few minutes this New Year to build your team as well as shoot for the number of wins.

At Harvest Financial, we can help with a lot of stuff.  We also know people who are good at other things.  Call us and ask.  We’ll help where we can and refer when we can.

One of Sam’s New Years’ resolutions was to return to the hospitality industry.  We wish him well in future endeavors and we’ll miss his recipes.

Have a great 2024!

 = The returns mentioned in this paragraph are taken from the CNBC website for the respective indices as of the afternoon of December 29, 2023. Investors cannot invest directly in indexes. The performance of any index is not indicative of the performance of any investment and does not take into account the effects of inflation and the fees and expenses associated with investing. The return and principal value of bonds fluctuate with changes in market conditions. If bonds are not held to maturity, they may be worth more or less than their original value.