The Rand Group Update: Spring Edition
By TRG Advisors on May 17, 2022
Welcome back to The Rand Group Update — providing you with thoughts on the markets, timely financial tips, and recent TRG news.
A Word From Our Partners…
As of the market close on Friday, May 6th, the S&P 500 was down -13.49% Year-to date. In April, typically a good month for equity markets, The S&P 500 posted a decline of -8.8%, the worst month since March of 2020 (you know, when the world sort of . . . shut down). So far, 2022 has shown some of the worst equity performance in decades. That’s scary. That hurts. It stinks. If you don’t believe me, just turn on one of the financial channels and they’ll be more than happy to tell you how bad things really are. Remember, bad news sells a lot more than good news, or even more than “less bad” news. The idea is to keep you worried and paying close attention to the next bad thing they’re about to tell you, just after this next commercial break. (Read more)
The Rand Group Family is Growing!
Describe The Rand Group in three words.
Dedicated, trusted, honorable.
What made you decide to get into financial services?
I’ve always been interested in personal finance, but what drew me to wealth management was working with people… not only the welcoming team at TRG, but also the many clients we have the privilege of serving.
Outside of your career, what is something you consider yourself naturally talented at?
I have been a competitive equestrian show jumper for over twenty years, and find great joy and fulfillment in continuing to pursue my goals as a horse rider.
Celebrating Six Years!
We recently celebrated the sixth anniversary of launching our own wealth management practice! Thank you to our clients and referral partners for your continued trust and the opportunity to serve you each day. Here’s to many more years of growing together!
The Rand Group is nominated as one of the top Family-Owned Businesses in Orange County!
The Rand Group is honored to be recognized as a top family-owned business in Orange County by the Orange County Business Journal for the third year in a row! To learn about the event and for more information on The Rand Group and other nominees, please visit here.
Joel Rand, CIMA® Featured on Forbes’ 2022 List of Best-In-State Wealth Advisors for the 4th Year!
The Rand Group is honored to be ranked on Forbes 2022 Best-In-State Wealth Advisors List!
The annual award spotlights the top advisors in all 50 states, and this year’s includes more than 4,000 wealth managers from around the country. 2022 marks the fourth year Joel Rand has been featured on the list. He’s been previously recognized in 2019, 2020 and 2021. The team has been also featured in California in 2019 and 2020. View the full list here.
“Thank you to the entire TRG team and our clients that made this accomplishment possible. A recognition like this motivates us to continue to focus on providing a positive impact on our clients’ lives beyond just financial well-being but to add meaning and value to help them live better lives.” said Joel Rand.
Five Ways to Spring-Clean Your Finances
1. Clean Up Your Accounts
Consider consolidating your accounts into one relationship to gain a clearer understanding of your financial streams and overall wealth. Getting that full picture can bring fresh perspective about what you need to prioritize.
2. Declutter Your Debt
If you have multiple loans and credit cards, with different interest rates and payment dates, it might be time to consider debt consolidation.
3. Reassess Your Retirement Contributions
Saving for retirement isn’t something you set and forget. You have to check in occasionally to reassess your plans and make sure your investments are on track to get you there.
4. Clean Up Your Paperwork
Make your file storage digital to be more organized and cut down on clutter in your home. It’s also more ecofriendly.
5. Review Your Monthly Budget and Organize Your Expenses
Reframe how you look at budgeting. Instead of thinking in terms of sacrifice, think in terms of prioritization and what’s important to you. Take inventory of your income and expenses to help cut wasteful spending and make smarter financial decisions.
The Six G’s of Money I Wish I Had Known When I Was Growing Up
Helping young investors increase their financial literacy is one of the greatest gifts you can give the next generation. This seminar provides inspirational financial life lessons in a way designed to engage young adults.
As a parent, you’ve probably thought about how to teach your child financial literacy. Nobody wants their children to be dependent on them forever, so it is important they have a solid understanding of how to make and save money. Though every family’s financial situation is very different, there are some recommendations and tools for children, teens, and young adults:
- Lemonade in Winter by Emily Jenkins. Picture book for ages 4-7 telling the story of two siblings who decide to use all their money one winter day to buy supplies and open a lemonade stand. (link)
- How to Teach Financial Literacy. wikiHow site outlining and organizing the basics of budgeting, credit and debt, savings and investments. For parents and teachers of elementary and middle school age children. (link)
- Raising Financially Fit Kids by Joline Godfrey. This combination personal finance and parenting book is designed to help parents, mentors and educators teach children, teens and young adults key money skills required for financial security. (link)
- Financial Football. Fast-paced, interactive game that engages teens while teaching them personal finance skills. Available free online and through downloadable iOS and Android apps. (link)
- Broke Millennial by Erin Lowry. Practical, empathetic and helpful advice on money matters and financial questions, written for young adults and millennials. (link)