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The Cheapest Neighborhoods in New Orleans for Renters in 2022
These spots in the Big Easy will take it easy on your wallet.
The post The Cheapest Neighborhoods in New Orleans for Renters in 2022 appeared first on The Rent.com Blog : A Renterâs Guide for Tips & Advice.
Finding a Modern Financial Adviser: 3 Questions to Ask
Whether itâs political unrest, a Black Swan event, a housing crisis or a global pandemic, there are very few ânormalâ years in the world of finance anymore. In the âpost normal economy,â as Barry Ritholtz frames it, financial advisers need to be different than those of yesterday.
- SEE MORE How to Prepare to Work with a Financial Planner
Markets are more unpredictable. Volatility has become the norm. Digital asset markets never close. Those are just a few of the elements that have made investing even more challenging. Now, more than ever, itâs important that you have a financial professional on your side who can stop you from making decisions that you might regret. The onset of the pandemic is one example. Nearly all my clients called me wanting to sell out of equities on the exact same day. In the 33 days between February 19 and March 23 the MSCI World Index fell by 34%, and my clients seemingly had reached their breaking point. Did we sell? After a thoughtful discussion the answer is mostly no, and I can tell you that I had many of them thanking me six months later.
My point is that investorsâ needs are changing. Financial advisers must continue to adapt and evolve with the individuals and families they serve. While it is also important that your financial adviser is in good standing with the SEC, has high integrity, always puts your best interests first and is an expert when it comes to your financial planning needs, I’d argue that those are table stakes â financial advisers of tomorrow need to be so much more.
Below is my list of three questions to ask yourself when deciding if a financial adviser possesses the qualities you should have at your disposal in the post-normal economy:
Are they a personality fit?
Itâs imperative that your financial adviser can anticipate your needs and understands how you may react to worldly factors that may impact your portfolio. Your financial adviser should take the time to know you on a personal level, not just your portfolio. Do they understand your lifestyle? Your family dynamics? Having a deeper understanding of who you are will help them stay one step ahead and communicate with you on the proper channels during turbulent times.
One anecdote that can help portray my thinking is a story of a client of mine who was extremely politically oriented. When Barack Obama was re-elected to serve his second term, this client wanted to sell everything and wait it out. I was adamantly against selling out of their portfolio and backed up my advice with historical data. Hindsight is 20/20, and I will be the first to admit that Iâm not always right, but in this specific case the market yielded strong returns each of the following four years and the Dow Jones Industrial Average notched 118 new highs. The point being, if I didnât push back, that client would have missed out on market returns that they could never have made up.
Are they able to build a relationship deeper than the adviser-client dynamic?
It all comes down to trust. Do you feel that your financial adviser is going to always act in your best interest? It goes beyond being a fiduciary; you must feel like your financial adviser deeply understands your personal needs and goals. Do you feel that your financial adviser is your confidant? Your friend? They need to be more than that. You should feel like your financial adviser is an extension of your family.
- SEE MORE Investments or You: Which Does Your Adviser Focus On?
While I donât believe that you have to loop in your financial adviser for all of life’s financial decisions, itâs important that you see them as part of your âinner circleâ and that they are not someone who you speak to quarterly to discuss your portfolio and your financial plan. In todayâs 24/7, always-on world, your financial adviser should be someone you are communicating with regularly and you connect with them on a personal level.
Are they able to offer a diversified investment portfolio?
In today’s market environment it is extremely important to diversify your portfolio outside of stocks and bonds. In fact, the traditional 60/40 portfolio is dead. If your financial adviser isnât providing creative strategies to diversify your portfolio and invest in alternative assets, then they arenât providing their clients with modern financial advice.
Investors need an inflation hedge and an alternative to fixed income and traditional equities.
To truly diversify, and give yourself the opportunity to experience outsized returns, you need to be investing in alternatives, including venture capital, real estate and private equity.
Amid the Ukraine-Russia war and coming off the heels of a global pandemic, itâs impossible to predict the next crisis that will rattle the markets. But thereâs one thing for certain â there’s nothing ânormalâ about your financial life. To protect yourself and your hard-earned portfolio, make sure you are working with a financial adviser who possesses the above qualities. If thereâs anything to be picky about in life, your financial adviser should be at or near the top of the list.
- SEE MORE Why Financial Literacy Alone Will Always Fail
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Do Banks Run Credit Checks for a Checking Account?
If youâre wondering whether a bank checks your credit when you open a checking account, the answer is typically noâ¦but thereâs more to the story than that one little word! Your credit score is probably top of mind when youâre considering this question. For good reason: You probably already know how important those three little […]
The post Do Banks Run Credit Checks for a Checking Account? appeared first on SoFi.
The Cheapest Neighborhoods in Chicago for Renters in 2022
You, too, can live in the Windy City for a reasonable price.
The post The Cheapest Neighborhoods in Chicago for Renters in 2022 appeared first on The Rent.com Blog : A Renterâs Guide for Tips & Advice.
San Jose Neighborhoods Where Rent is Increasing the Most
San Jose rent prices are going up in some neighborhoods.
The post San Jose Neighborhoods Where Rent is Increasing the Most appeared first on The Rent.com Blog : A Renterâs Guide for Tips & Advice.
Stock Market Today: Ukraine Talks Bring Out the Bulls
Fresh signs of at least the potential of a resolution in Eastern Europe whetted risk appetites Tuesday, even as the ominous 2-10 yield curve came even closer to inverting.Â
During the latest round of talks with Ukraine today, Russian Deputy Defense Minister Alexander Fomin said his country’s military would “drastically” remove its military presence from Kyiv. That triggered another day of buying from investors, who weren’t deterred by a U.S. official’s skeptical comment to news outlets that Russia’s moves indicated “a redeployment, not a withdrawal.”
- SEE MORE The 22 Best Stocks to Buy for 2022
Wall Street also wasn’t put off by a potential inversion of the two- and 10-year Treasury rates â “potential” being the key word, as various data sources conflicted on whether the two-year’s yield merely equaled the 10-year yield or surpassed it.
Even then, Lauren Goodwin, economist and portfolio strategist at New York Life Investments, warns against using a yield inversion as an egg timer.
“While curve inversion has historically been an important market signal of recession risk, it does not tell us much about when recession might likely occur,” she says.
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Real estate investment trusts (REITs) including mall operator Simon Property Group (SPG, +4.8%) and Public Storage (PSA, +3.4%) enjoyed the biggest gains Tuesday, with the sector up 2.9% to lead the S&P 500 (+1.2% to 4,631). The Nasdaq Composite had an even better day, up 1.8% to 14,619, while the Dow Jones Industrial Average recorded a 1.0% gain to 35,294.
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Other news in the stock market today:
- The small-cap Russell 2000 roared ahead by 2.7% to 2,133.
- U.S. crude oil futures retreated 1.6% to end at $104.24 per barrel.
- Gold futures fell 1.4% to settle at $1,912.20 an ounce.
- Bitcoin slid 0.5% to $47,720.70. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.)
- Shares of Robinhood (HOOD) spiked 24.2% after the financial services platform said it extended trading hours for clients. Customers on HOOD’s platform will now be able to trade between 7 a.m. through 8 p.m. ET, giving them an additional four hours. This big upside move put a dent in HOOD’s year-to-date deficit. Heading into today, shares were down nearly 28% for the year-to-date.
- FedEx (FDX) gained 3.7% on news Fred Smith will step down as CEO, effective June 1. Smith has been overseeing the delivery giant since he founded the company in 1973. He will be succeeded by Raj Subramaniam, current president and chief operating officer of FedEx. “We anticipate a seamless transition as FedEx appears to have been grooming Mr. Subramaniam to be the company’s next CEO,” says Oppenheimer analyst Scott Schneeberger (Perform). “In recent years Mr. Smith appeared to have been ceding an increasing amount of operational and investor-facing responsibility to his top reports, particularly Mr. Subramaniam.”
Push Back on Inflation
We’ll find out March’s jobs tally later this week, but another data point on Wall Street’s watch list is the core Personal Consumer Expenditures (PCE) price index.
- SEE MORE 5 Superb Stocks to Shield Against Stagflation
That report, due out Wednesday, represents the Federal Reserve’s favored gauge of inflation â another critical factor in the market’s direction from here.Â
“We believe it is important to point out the historical impact that inflation can have on equity market valuation,” says John Lynch, chief investment officer for Comerica Wealth Management. “Specifically, high levels of inflation ⦠have historically pressured the price-to-earnings (P/E) ratio for the S&P 500 Index. Historically, when the CPI approaches 8.0%, the average [trailing 12-month] P/E for the S&P 500 is ~12, which could bring the index to unspeakable levels.”
Given that the S&P 500 currently trades at more than 26 times trailing earnings, that would be very bad news, indeed.Â
You can swat back at inflation via just about any investment type you like. Those looking to make concentrated bets against rising prices can consider these five stocks poised to push higher in an inflationary environment, while those who prefer a diversified approach might instead prefer these five mutual funds.
But some of the most interesting tools in the tool box are inflation-fighting exchange-traded funds (ETFs). Several of these ETFs simply happen to be positioned in areas of the market that do well as prices expand, but in some cases, an inflation-resistant portfolio is the explicit goal.
- SEE MORE Warren Buffett Stocks Ranked: The Berkshire Hathaway Portfolio