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There is no denying that inflation is top of mind for everyone right now, especially as we approach the holidays. But, before you mark everyone on your list as “naughty” to avoid breaking the bank, let’s take a look at what you can do to approach the holiday season with confidence despite the rising cost of goods and services.

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Published in the Baltimore Business Journal on November 10, 2022

Running out of money in retirement is a rational fear, and many of today’s workers are feeling it, especially post-COVID. According to Gallup, 63% of American adults surveyed in April 2022 were “very worried” or “moderately worried” about having ‘enough’ to retire when or how they would like.

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In the past several months, the financial world has been fixated on whether the U.S. economy is in a recession or whether one may be imminent. 

So, are we in a recession according to the technical definition, or are we waiting for more economic indicators to line up according to the NBER? Why should we care? More on that later. But first, we'll explore the two definitions of a recession.

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The reality is most people don’t have millions or billions to give away. However, they are still charitably inclined and seeking to make a difference by helping others in whatever capacity that they can. Some may not be aware they can accomplish this, while at the very same time, optimizing their own financial situation. Here are three strategies that can benefit charitably minded people across all economic tiers.

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Would you be surprised to learn that the costliest investment mistakes are often made as a result of our emotions? You see, the reasons for markets going down are always different, but the emotions we have as investors are always the same. Fear, panic, and an inclination to protect against loss tend to take the lead when prices dip. There is little else that can worry us more than our money, so it’s only natural to feel this way. We begin asking questions like:

When will the declines stop?, Is there anything I can do to protect against loss?, How will this affect my near and long-term financial plans?

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Part II – Is the 60/20/20 Portfolio the New 60/40 Portfolio?

Understanding the Types of Alternative Asset Classes

The universe of alternative investments is constantly expanding, with choices ranging from private equity funds to real estate to hedge funds, employing complex hedging strategies using options, derivatives, and futures contracts. Here are some of the more popular alternative investments used by investors in an attempt to enhance returns, minimize volatility, or do both.

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In turning to an alternative investment strategy, it’s essential to understand that it works best if it is tailored to the investor’s personal circumstances. It’s also critical to understand that investment in some of these assets should be made with consideration for an investor’s tax bracket, cash flow needs, risk tolerance, and time horizon requirements.

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You might not have any plans to borrow money once you reach retirement, but circumstances can change. You might need extra funds to cover a major home repair or medical crisis. You might discover a new activity to pursue, such as starting a business or helping a family member with an opportunity. Or, you may want to refinance or purchase a second home. The challenge for retirees is that it can be much more nuanced and problematic to secure a loan once you have left the workforce and no longer have a steady stream of income.

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Including asset classes in a portfolio that have low correlations to stocks is a great way to reduce portfolio volatility. Unfortunately, most traditional assets such as various equity segments, lower quality bonds, and even public real estate are more closely correlated with stocks than most people think. 

Private nontraded real estate funds have historically low correlations to both stocks and fixed income while providing exposure to the third-largest asset class after stocks and bonds, commercial real estate. Historically, commercial real estate has been one of the primary ways large institutional investors have diversified their portfolios. Now these alternative investments are becoming more widely available to retail investors.

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Family-owned businesses are often formed with the intent of passing ownership of the company to the next generation and beyond. However, the evolution of the family structure in today’s society could present some challenges for owners who want to ensure those who follow, share the same family values and business ambitions. As family units become more splintered through second and third marriages or children with different interests or values, it’s less certain that the business will end up in the right hands. 

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