Broker Check

Monday Money Report

| November 22, 2021

The market continued its bull run, setting another all time high on Thursday. We’ve just about finished earnings reports, and overall earnings growth was almost 40%, far outpacing the expected growth of 23%. While consumer spending remains strong, supply chain issues could reduce growth in the next 3-6 months.

I had a conversation with a friend on Friday about money and happiness.  I’ve spoken before about the three ways money can buy happiness: when you use it to buy experiences, when you buy time, or when you give it away in a meaningful way. And recent research is showing that there are three things that make you happy in retirement, and they all require an investment.

The first factor is money.  Having money in retirement generally increases satisfaction in a linear fashion, up to about four million in assets.  Beyond that, happiness is generally not impacted. Clearly, building savings while you’re working is a good idea.

The second factor is relationships with peers and your community.  Make a list of people you interact with regularly.  Now cross off anyone on that list that you see because of your job. For most people, that drops the number pretty significantly.  But in retirement, who are you going to socialize with? You need to make an effort while you’re still working to build relationships outside of the office.

The third and final factor that impacts happiness in retirement is your health. This also requires an investment.  Exercising, eating well, having your check-ups and cancer screenings all take time and effort now.

On the flip side, one of the biggest places of dissatisfaction in retirement is adult children who haven’t launched well. I see the consequences of folks working into their late 70s and even early 80s to continue to subsidize their adult children. Having your children work with a financial planner can be a great gift for both of you.

Buy what about the sports car you’ve always wanted, or the vacation home you enjoyed renting one week every summer? Again, it goes back to people and connections.  If you join a club of other car enthusiasts, the car will make you happy. Same with the vacation home or the RV.

We find that in retirement, people need purpose. Money and health enable the lifestyle, but you need to build that life. Investing now for that future can pay big dividends.

Your action to take this week is to confirm your benefits if you’re in open enrollment.  We’re big fans of High Deductible Health Plans and would be happy to meet and explain why.  If you want someone to discuss your insurance options with, give us call.  And be sure to check out our website at, as well as our Facebook page for more information.

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. CovingtonAlsina and Great Valley Advisor Group are separate entities from LPL Financial.

All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. 

The opinions voiced in this show are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investment(s) may be appropriate for you, contact the appropriate qualified professional prior to making a decision.