The Seeds of May
As the weather warms up and the Fed continues to raise rates, some people are busy planting seeds in their gardens. Even if you aren’t a gardener, you can still benefit from applying this mindset to specific financial goals. One being college education for children or grandchildren. May 29th is 529 Day, and we discuss the differences in choosing a 529 Plan or a UTMA for college savings.
This month we also discuss emergency funds and their purpose. As Americans are questioning the arrival of a recession, it’s best not to let emotions go unchecked. Having an emergency fund is more important now than ever. No matter your income level, having some reserve funds when you need them is something that helps you sleep better at night. We work to help you understand your unique financial needs and planning accordingly. It’s for moments like this that you hired Emerald as your financial advisor.
To help you continue having conversations around money we want to keep asking a money question each month. This month’s question is:
What lessons did you learn about money growing up?
Do you remember getting an allowance as a child? Did your parents take you to open up a checking account? These are valuable lessons you may have learned and your answers are worth sharing with your loved ones.
Once again Michael Smith has been recognized on the Forbes | SHOOK 2023 Best in State Wealth Advisors list. With all the recent turmoil in the industry, this recognition is a good reminder that when you work with Emerald, you have a top nationally recognized advisor working in your best interest. Congratulations!
We also want to wish all the mothers among us, both by blood and by intent, Happy Mother’s Day! We celebrate your contributions and say thank you for all the sacrifices you have made. And we hope everyone has a safe and fun Memorial Day! 🌺💐🌼