The Woodward Financial Advisors Blog

Mind over Matter: Perspective for Investors on the US Debt Ceiling -- No doubt there has been plenty of uncertainty in the last few months to keep the 24-hour news channels busy. First, it was banking issues, and now the debt ceiling. It is our innate human nature to want to take action when things happen that feel out of our control. Sometimes a little perspective can help. Below is a good piece from Dimensional Fund Advisors on this topic that we thought you’d find helpful. Enjoy!

Batten down the hatches and prepare to set sail for the gold and glory! This is the tale of a modern-day treasure hunt, embarked upon with the power of the internet. Whether you have an affinity for open waters or not, finding your very own unclaimed funds is very much a real possibility.

A month ago, the sudden collapse of two regional US banks dominated the news, bringing with it some concerns and quite a few questions from our clients. These questions, which took many forms, all boiled down to two points: is my cash protected and should I be concerned about the future of banks?

When I was in high school, I created a family tree for history class. Some of you have probably completed similar projects, drawing Sharpie lines between people, figuring out connections, and bringing complicated relationships together on one page. As I talked to my relatives about the assignment, stories about quirky family members invariably came up in conversation. I learned about a great-grandmother who lived to be 100 and ate an ice cream sundae every afternoon. There are tales of a distant great-uncle who said he was a doctor but was actually a bit of a con artist. One of my favorites is a romantic story about my (5x) great-grandfather who immigrated to the US because his family did not approve of his wife.

I remember the pre-internet days when the biggest scams you had to look out for were friends trying to get you to buy into a pyramid scheme. Once we all became familiar enough with this wonderful invention called email, we eventually learned never to click on any suspicious links, even if they are coming from a “known” email. Unfortunately, scammers have gotten so sophisticated now that they are stealing (literally) billions of dollars each year through phone and internet-based scams. Here are some basic reminders to keep your money and information safe:

Happy New Year from all of us at Woodward Financial Advisors! Three years ago, the original SECURE Act (Setting Every Community Up for Retirement Enhancement) passed, bringing a host of changes, including an increase to the Required Minimum Distribution age from 70 ½ to 72 and the elimination of the “Stretch-IRA.” On December 29, 2022, the much-anticipated SECURE Act 2.0 was signed into law.