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Dave Says...Work hard now, celebrate later
BY DAVE RAMSEY, CEO, Ramsey Solutions, and an eight-time No. 1 national best-selling author, and host of The Ramsey Show
D
ear Dave, My husband and
I bought a franchise recently, and we are opening our business in a couple of months. We’ve got $40,000 saved up, but my husband wants us to take a two-week vacation before we open for business. He feels that the business will completely consume us for the next two or three years, and he wants to go into things relaxed and refreshed. How do you feel about this idea? Jill
Dear Jill, I understand where your husband’s coming from. A business is very time consuming, and to make it a success you’ll both have to eat, sleep and breathe it for a very long time. But here’s the reality of your situation. Right now, you’re basically unemployed. On top of that, you have just $40,000 with which to start a business. It’s time to rev up your engines and get to work,
not spend a bunch of money vacationing. Trust me, there’ll be plenty of time to celebrate after you’ve won, maybe in even bigger and better ways, if you’ll just delay gratification and put in the dedication and hard work now. When it comes to opening a new business, a good rule of thumb is this: Everything’s going to take twice as long to accomplish as you thought it would, and everything’s going to
be twice as expensive as you thought it’d be. I’m sure you’re both smart people, but my guess is you’re not exceptions to this rule when it comes to opening and running a small business. Think about it, every single dollar connected with your business could mean the difference between survival and going under. Like I said, I kind of get your husband’s thought process, but it would be a very un-
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wise idea right now. You’ve got to look at the big picture. You’re going to be heartbroken, and maybe in a real financial bind, if you have to close up shop in a few months because you ran out of money. On the other hand, if you work hard now, stay smart and make this thing a success, you can take a vacation—and really celebrate—when the time is right! —Dave
Stock Market Insights: Stick to your investment plan in 2024
DR. RICHARD BAKER, AIF®, is the founder of and an executive wealth advisor at Fervent Wealth Management. https://www. facebook.com/Dr.RichardBaker
D
on’t get on the unicycle. My friend is a comedic magician in Branson. One of his gigs is to get people to attempt to ride a uni-
cycle while he steals their watch and shows it to the crowd behind their heads. It only works because he gets people distracted by struggling on the unicycle. I don’t know what crazy things will happen in the new year, but I know distracted investors will get left behind. The year 2023 will go down as the year investors couldn’t go wrong. It had significant emotional highs and lows, but it was a great year for those who stayed invested. The Federal Reserve’s high-interest rates tempted some investors into CDs and Treasury bonds,
only to miss out on the last few weeks of the year when the market took off. In 2024, I expect markets to return to a more normal cycle. In the last couple of years, extreme conditions, such as Fed decisions, bank crises and inflation, have dominated the market. Still, I expect the market in the new year to return to a profit-driven one where growth is based on earnings. Investors will become focused on market patterns associated with declining interest rates. Though rates will influence stock values most, corporate profits are moving into a
sweet spot. Stocks look fully valued at current interest rates as we start 2024, but as the rates lower, values should increase, which could lead to mid-to-high single-digit returns in 2024. Don’t get caught up in the emotional drama. With 2024 being a presidential election year, it will have its own surprises and emotional challenges. This may be the nastiest election cycle of our lifetime, and the risk of global wars will tempt many investors to make emotional investing decisions. Financially speaking, and probably emotionally too, don’t
get caught up in the “what ifs” and miss investment opportunities. Remember, the newscasters and podcasters sell ads on hyped-up drama, but you will retire on regularly investing in companies who create consistent earnings. Do you remember the bank crisis at the beginning of 2023 that was going to destroy the banking system? Do you remember the high gas prices in the summer of 2022 that were supposed to bankrupt everyone? Do you remember when the container ship got stuck sideways in the Suez Canal in 2021 and
was supposed to upset the markets for months? The markets overcame these obstacles, and the potential crisis never came. Strange things are always happening and will happen in 2024 as well. Don’t get distracted by the emotional drama because, with your money, there is more at risk than a few laughs at a Branson show. I see more reasons to be positive in the next year than negative. So, find a financial professional you trust, have a good investment plan, and stick to it. Have a blessed week! www.FerventWM.com
Retiring soon? Why moving might be the perfect next step
BY HEATHER TANKERSLEY, REALTOR®, provides services for residential, commercial, land and lake properties in the Branson Tri-Lakes area.
I
f you’re thinking about retirement or have already retired this year, it’s a good time to consider if your current house is still a good fit for the next chapter in your life. Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about as you decide whether or not to sell and make a move. How Long You’ve Been in Your Home From 1985 to 2008, the average length of time homeowners typically stayed in their homes was only six years. But according to the National Association of Realtors (NAR), that number is rising today, meaning many homeowners are living in their houses even longer (see graph at right). When you live in a home
for a significant period of time, it’s natural for you to experience a number of changes in your life while you’re in that house. As those life changes and milestones happen, your needs may change. And if your current home no longer meets them, you may have better options waiting for you. How Much Equity You’ve Gained Additionally, if you’ve been in your house for more than a few years, you’ve likely built-up significant equity that can fuel your next move. That’s because the longer you’ve been in your house, the more likely it’s grown in value due to home price appreciation. Data from the Federal Housing Finance Agency (FHFA) illustrates that point (see graph above, right).
While home price growth varies by state and local area, the national average shows the typical homeowner who’s been in their house for five years saw it increase in value by nearly 60%. And the average homeowner who’s owned their home since 1991 saw it more than triple in value over that time. Consider Your Retirement Goals
HEATHER TANKERSLEY
lifestyle today. Bottom Line Retirement can bring about major changes in your life, including what you need from your home. Let’s connect to explore the available homes in our area. It’s Your Move! When you’re ready to sell too, let’s connect. Heather Tankersley REALTOR®, ABR® Keller Williams TriLakes D: 417.332.5130 O:417.336.4999
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jan 18–21 • 6 pm & 8 pm See TWO concerts of the British rock band Queen! The first concert is their show in Montreal, November 1981, with “Under Pressure” topping the charts, following their record-breaking tour of Latin America. It was to be the only concert by Queen that was ever shot on film. The second concert is their live performance at Live Aid in 1985 with Queen’s 24 minute set in Wembley Stadium. ®
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Whether you’re looking to downsize, relocate to a
dream destination, or simply be closer to loved ones, your home equity can be a key to realizing your homeownership goals. NAR shares that for recent home sellers, the primary reason to move was to be closer to loved ones. Whatever your home goals are, a trusted real estate agent can work with you to find the best option. They’ll help you sell your current house and guide you through buying the home that’s right for your
O: 4173364999
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