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We'll Be Back on Monday to Help Sort Out This Weekend's Money Conversations

| April 19, 2019
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We’ll Be Back on Monday to Help Sort Out This Weekend’s Money Conversations
The financial markets are closed today, but that doesn’t mean that money will be taking a rest. Many have the day off today which means they will be going to retail stores for the perfect outfit, shopping for food to prepare for their holidays, dining out, perhaps test driving a car or shopping for furniture since they may have gotten a tax refund, albeit possibly smaller. Maybe they’ll look at shrubs and flowers for spring plantings or consult with home improvement project specialists.
Money will also be part of conversations as families and friends gather for holidays this weekend - not necessarily in the way you might wish, but it will come up. Someone might show off a new purchase like a new house or car. Someone else might ask for a loan. Another might discuss how their children’s tuition is hampering their lifestyle. Others might argue about who is picking up the check - or even whip out their pocket calculator because Uncle Harry had the appetizer AND a dessert and they only had the dessert. Someone might talk about retiring early, while another might talk about not having enough money to retire. Some of these conversations might be stressful, especially if people start telling you what you should be doing. (Remember, you can always walk the dog, go outside and play with the kids, or start clearing the table/washing the dishes - of course, please make sure you are not in a restaurant while doing the latter!).
If any of the money talk gives you angst, remember that your financial advisor is here to help you sort things out. Your financial needs and circumstances are not the same as those of your ne’er do well brother-in-law, your well-intentioned but somewhat out-of-touch great uncle, or your wealthy aunt who lauds her will over all (I am sure they are all lovely people). You might be forced to listen to be polite, but you don’t have to take any advice you are given by family and friends - you have no obligation to follow the crowd, no matter how loud they might be. It seems our phones ring a lot after holiday weekends when people gather together…
Instead, talk with your financial advisor (and if you don’t have one, you may wish to contact one) about your goals, risk tolerance, time horizon. It’s YOUR financial life, it should be YOUR financial conversation. The agenda is YOURS.
May you have peace and joy at the holiday table and make special memories. One day you shall look back and remember that these were indeed the best of times - make memories, take pictures, laugh! Happy Easter! Happy Passover! Happy Spring!
This information is provided for general educational purposes only and is not intended as specific advice for any individual.
Seek professional advice before taking any action in regard to your finances.
Todd A. Slingerland, CFP® 6 Tower Place Albany, NY 12203 (518) 867-4000 x105

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