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Latest News

Your Emergency Fund: How Much Is Enough? September 10, 2020

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Four Really Good Reasons to Invest August 6, 2020

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Cheat Sheet to Sending your Child to College July 15, 2020

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Market Timing and Your Investment June 5, 2020

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Spending Triggers May 5, 2020

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Pullbacks, Corrections, and Bear Markets May 5, 2020

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April is National Credit Union Youth Month! April 24, 2020

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Financial Self Care April 16, 2020

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How Will COVID-19 Impact Market Outlook? April 8, 2020

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What You Should Know About the Stimulus Checks April 2, 2020

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Featured

Your Emergency Fund: How Much Is Enough?

Young lady on the phone while standing next to broken down car

Have you ever had one of those months? The water heater stops heating, the dishwasher stops washing, and your family ends up on a first-name basis with the nurse at urgent care. Then, as you’re driving to work, you see smoke coming from under your hood.

Bad things happen to the best of us, and sometimes it seems like they come in waves. That’s when an emergency cash fund can come in handy.

A 2019 Bankrate survey found that 28% of Americans had no emergency savings. Another 25% of respondents said that the cash they had on hand would last less than three months in a financial crisis.1

How Much Money?

How large should an emergency fund be? There is no “one-size-fits-all” answer. The ideal amount may depend on your financial situation and lifestyle. For example, if you own a home or have dependents, you may be more likely to face financial emergencies. And if a job loss affects your income, you may need emergency funds for months.

Coming Up with Cash

If saving several months of income seems unreasonable, don’t despair. Start with a more-modest goal, such as saving $1,000, and build your savings a bit at a time. Consider setting up automatic monthly transfers into the fund.

Once your savings begin to build, you may be tempted to use the money in the account for something other than an emergency. Try to avoid that. Instead, budget and prepare separately for bigger expenses you know are coming.

Where Do I Put It?

Many people open traditional savings accounts to hold emergency funds. They typically offer modest rates of return. A certificate of deposit (CD) may provide slightly higher returns, but your money will be locked away until the CD matures, and that could take several months to several years.

The Federal Deposit Insurance Corporation (FDIC) insures bank accounts and certificates of deposit up to $250,000 per depositor, per institution, in principal and interest. CDs are time deposits offered by banks, thrift institutions, and credit unions. While CDs offer a slightly higher return than a traditional bank savings account, they also may require a higher deposit amount. If you sell before the CD reaches maturity, you may be subject to penalties.

Others turn to money market accounts or money market funds in emergencies. While money market accounts are savings accounts, money market funds are considered low-risk securities. Money market funds are not backed by any government institution, which means they can lose money. Depending on your particular goals and the amount you have saved, some combination of lower-risk investments may be your best choice.

Money held in money market funds is not insured or guaranteed by the FDIC or any other government agency. Money market funds seek to preserve the value of your investment at $1.00 a share. However, it is possible to lose money by investing in a money market fund.

Money market mutual funds are sold by prospectus. Please consider the charges, risks, expenses, and investment objectives carefully before investing. A prospectus containing this and other information about the investment company can be obtained from your financial professional. Read it carefully before you invest or send money.

The only thing you can know about unexpected expenses is that they’re coming. Having an emergency fund may help to alleviate stress and worry that can come with them. If you lack emergency savings now, consider taking steps to create a cushion for the future.

 

Sincerely,

Steve Lindquist


Steve Lindquist

Steve Lindquist
stevelindquist@peakfns.com
Financial Consultant
295 Los Altos Parkway, Suite 105
Sparks, NV 89436
(775) 789-3140

www.gbfinancial.org/

Steve Lindquist is a registered representative offering securities and advisory services through Cetera Advisor Networks LLC, member FINRA/SIPC a Broker/Dealer and Registered Investment Advisor. Cetera is under separate ownership from any other named entity. Registered address: 295 Los Altos Parkway, Suite 105., Sparks NV 89436.

Investments are not deposits; not FDIC/NCUSIF insured; and not insured by any federal government agency. No credit union guarantee. May lose value.

 

1. Bankrate.com, July 1, 2019

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2020 FMG Suite.

Four Really Good Reasons to Invest

Forty-six percent of Americans do not own any stocks or stock-related investments, such as mutual funds, according to a recent Gallup poll.¹

Individuals may cite different reasons for not investing, but with important long-term financial goals, such as retirement, in the balance, the reasons may not be good enough.

Why Invest?

  • Make Money on Your Money

    You might not have a hundred million dollars to invest, but that doesn’t mean your money can’t share in the same opportunities available to others. You work hard for your money; make sure your money works hard for you.

  • Achieve Self-Determination and Independence

    When you build wealth, you may be in a better position to pursue the lifestyle you want. Your life can become one of possibilities rather than one of limitations.

  • Leave a Legacy to Your Heirs

    The wealth you pass to the next generation can have a profound impact on your heirs, providing educational opportunities, the capital to start a business or financial support to your grandchildren.

  • Support Causes Important to You

    Wealth can be an important tool for impacting the world in a meaningful way. So whether your passion is the environment, the arts, or human welfare, you can use your wealth to affect positive changes in your community or around the world.

A Framework for Investing

The decision to invest is an acknowledgment that it comes with certain risks. Not all investments will do well and some may lose money. However, without risk, there would be no opportunity to potentially earn higher returns that can help you grow your wealth.

To manage investment risk, consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal.²

Because investing can be complicated, consider working with a financial professional to help guide you on your wealth-building journey.

 

Sincerely, 

Steve Lindquist


Steve Lindquist

Steve Lindquist 
stevelindquist@peakfns.com 
Financial Consultant
295 Los Altos Parkway, Suite 105
Sparks, NV 89436
(775) 789-3140

www.gbfinancial.org/

Steve Lindquist is a registered representative offering securities and advisory services through Cetera Advisor Networks LLC, member FINRA/SIPC a Broker/Dealer and Registered Investment Advisor.  Cetera is under separate ownership from any other named entity. Registered address: 295 Los Altos Parkway, Suite 105., Sparks NV 89436. 

Investments are not deposits; not FDIC/NCUSIF insured; and not insured by any federal government agency.  No credit union guarantee.  May lose value.

  1. Gallup.com, May 24, 2017
  2. Diversification is an approach to help manage investment risk. It does not eliminate the risk of loss if security prices decline.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2020 FMG Suite.

Cheat Sheet to Sending your Child to College

Woman studying on blanket in park with book open on lap

College marks a great milestone in a child’s life. It may be the first time he or she will live away from home. Dropping off your child at college may be an experience loaded with emotions, so here are a few tips for a smoother transition.

Accept that the Parent-Child Dynamic Has Changed

Your child is always your child and will need you as much as ever. However, parents need to understand that their role has transitioned from “supervisor” to “mentor.”

Make the Move Simple

Do not bring the moving van. Not only will it embarrass your child, but dorm rooms just aren’t that large. Bring only what’s appropriate.

Consider pre-ordering essentials (soap, bedding, shower caddy, etc.) for pick-up at a location by the school. This will save space whether your trip is by car or plane.

Don’t Leave “The Talk” to the Drop-off

While college represents a gateway to many wonderful experiences, parents will want to have a serious conversation about safety, responsible behavior, finances, and expectations about staying in touch.

Do not leave it for the drop-off. It is sure to sour the moment and may rush a conversation that deserves more time and mutual dialogue.

Time to Learn Financial Responsibility

Your child will need spending money. You may want to provide a debit card attached to an account that has a set sum for the full semester, or one that’s refreshed with monthly deposits. College is a perfect time to learn budgeting.

Take the Lead from Your Child

Let your child have the discretion to make decisions about what to bring. However important you think a dust skirt for the bed is, try to avoid fights. Let your child make a mistake. It’s the best way to learn.

Your child will likely send signals when it’s time for you to go. Listen to them. It’s time for him or her to begin connecting with new roommates. Expect that final “good-bye dinner” to be canceled since your child may prefer an impromptu introductory dinner with the new roommate.

Sincerely,

Steve Lindquist

Steve Lindquist

Steve Lindquist stevelindquist@peakfns.com
Financial Consultant
295 Los Altos Parkway, Suite 105
Sparks, NV 89436
(775) 789-3140 gbfinancial.org

Steve Lindquist is a registered representative offering securities and advisory services through Cetera Advisor Networks LLC, member FINRA/SIPC a Broker/Dealer and Registered Investment Advisor.  Cetera is under separate ownership from any other named entity. Registered address: 295 Los Altos Parkway, Suite 105., Sparks NV 89436.

Investments are not deposits; not FDIC/NCUSIF insured; and not insured by any federal government agency. No credit union guarantee. May lose value.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2019 FMG Suite.

Market Timing and Your Investment

Close-up of a businessman's hand analyzing graph on laptop at workplace

June 1, 2020

Hindsight is 20/20. It’s only human to imagine what it might have been like to turn left instead of right on some fateful day. However, that sort of daydreaming is unhelpful when investing, especially when it leads you to try and time the market.

Since the beginning of the COVID-19 outbreak, we’ve seen a great deal of volatility. But, in the two months since March 23rd’s record low, the S&P 500 has risen 33%.1,2 While past performance doesn’t guarantee future results, it shows how quickly market sentiment can change.

I prefer a disciplined approach to investing. I combine a person’s goals, time horizon, and tolerance for risk with my own understanding of the overall economic landscape. It boils down to this: in timing the market to avoid the “bad” day, you risk missing the “good” days, too.

Missing even just a few of those “good days” can really add up.

A national investment firm looked at a $10,000 investment into the S&P 500 for 38 years. By missing only the five best days over that period, the investment grew to $458,476. Meanwhile, if the money remained in the account untouched, it would have grown to $708,143. Past performance is no guarantee of future returns, but this illustration shows the long-term power of “time in the market vs. timing the market.”3

As your financial professional, I understand that volatility can cause anxiety, and it can be tough to sit still when it’s happening. But as we’ve seen lately, it may sometimes be best to tune out the noise and trust the strategy that’s already established. I always look forward to answering your questions, so if you have any, please reach out and let’s set up a time to talk.

Sincerely,

Steve Lindquist

Steve Lindquist

 

 

 

 

 

Steve Lindquist 
stevelindquist@peakfns.com 
Financial Consultant
295 Los Altos Parkway, Suite 105
Sparks, NV 89436
(775) 789-3140

www.gbfinancial.org/

Steve Lindquist is a registered representative offering securities and advisory services through Cetera Advisor Networks LLC, member FINRA/SIPC a Broker/Dealer and Registered Investment Advisor.  Cetera is under separate ownership from any other named entity. Registered address: 295 Los Altos Parkway, Suite 105., Sparks NV 89436.

Investments are not deposits; not FDIC/NCUSIF insured; and not insured by any federal government agency.  No credit union guarantee.  May lose value.

1. Putnam.com, May 21, 2020

2. Reuters.com, May 21, 2020 – The S&P 500 Composite index is an unmanaged index that is generally considered representative of the U.S. stock market. Index performance is not indicative of the past performance of a particular investment. Keep in mind that the return and principal value of stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost.

3. The Simple Dollar, May 21, 2020

Spending Triggers

Hello Everyone!

COVID and quarantining at home has definitely brought some challenges.   Specifically, I am hearing from clients about the dreaded COVID – 15!!! 

Oh no, what’s that – a new virus?  Not exactly – it’s the

*15 pounds gained during quarantine!, OR the

* 15 hours a day binging TV shows, OR the

* 15 times a parent loses their minds while helping “Johnny” with “common core” math, OR the 

* 15 daily/weekly (online) shopping trips –  OH, the lure of a few clicks and direct delivery!

 

What are we supposed to do?

Well, habits – both good and bad (unfortunately) – are created largely because we are “triggered”. 

What is a trigger? A trigger is a thought, feeling or reaction (happy, sad, lonely, guilty, upset, anxious) that prompts a behavior.

Let me bring this around to money.   Specifically, a spending trigger is the thought, feeling or reaction that prompts spending money!   For example:

  • I need it – I feel / look good in this item so I need it
  • I can afford it – I just got a raise so now I can afford this – both one time & reoccurring purchases
  • It makes me feel better – I had a tough day, so I bought this item to make me feel better
  • It’s on SALE – I got an email from my favorite shopping site, it was on SALE
  • I deserve it – I bought this new car because I just got a promotion / graduation and I deserve it

Triggers are usually non-planned, non-focused and reoccurring which makes our behavior repeatable!  Now, I don’t want to get too deep in the weeds here so if you need help in this area, call me and let’s talk.  But in the meantime, here are some simple ways to address your spending triggers.

 

Addressing Spending Triggers

  • Reduce your access to spending – if emails announcing sales are a trigger – delete one email a day/week/month
  • Stop and consider why you want the item – do you need it?
  • Give yourself a 24 hour calming period before hitting “buy”
  • Identify the underlying reasons for spending – are you buying to feel better / release stress?

 

Remember

  • Spending will never heal your feelings
  • Shopping in distress affects your budget, which affects your mood, which can cause more spending – it’s a cycle!
  • If you want to save money consider a savings account – instead of a store receipt
  • There are good habits that you can create to replace the shopping “high”

 

If you want help with financial spending triggers or anything else with your finances, please give me a call.  I’m happy to help!

Michelle

Great Basin Financial Services