2C • OCT. 27, 2023
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Dave Says: Control your own destiny
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BY DAVE RAMSEY, CEO, Ramsey Solutions, and an eight-time No. 1 national best-selling author, and host of The Ramsey Show
ear Dave, I read where you recommend saving 15% of your income for retirement. Should I count my employer’s contribution to my retirement plan as part of that 15 percent? Carlotta Dear Carlotta, That’s a great question. Employer contributions do not count toward the 15 percent I recommend setting aside for retirement. It’s great if you work for a company
that offers perks like that, but I want you putting 15 percent of your money into retirement. Whatever your company matches, whatever its pension may be, or even having a military retirement package, none of that enters the equation. I want your money in your name. Baby Step 4 of my plan says to put 15 percent of your income into retirement accounts. The first thing you should put money into is a matching retirement
account. If you’ve got a 401(k), a Roth 401(k) or a 403(b) and your employer offers a match, you should do that up to the match before anything else. Let’s say your employer will match three percent. Since the goal is 15 percent, that still leaves you with some work to do. You’ve got three percent of your own money already going into retirement, so then you could look at a Roth IRA. If the Roth, plus what you invested previously
to get the match doesn’t equal 15 percent, then you could look at a 403(b), or go back to your 401(k) to hit the 15 percent mark. And remember, if you’re going to reach your retirement goals, you can’t do it alone. King Solomon, one of the wisest men who ever lived, wrote: “Where there is no counsel, the people fall; but in the multitude of counselors there is safety” (Proverbs 11:14 NKJV). That’s why you need a qual-
ity financial advisor—one with the heart of a teacher— to help you navigate complicated financial issues, and guide you toward the kind of retirement you want. Do you see what I’m saying here, Carlotta? I want you—not the company you work for—to control your financial destiny. I want you to be able to retire with dignity, and enjoy life after working hard and saving. The responsibility for making that happens falls to you! —Dave
Stock Market Insights: Jumping hurdles – stocks and war
DR. RICHARD BAKER, AIF®, is the founder of and an executive wealth advisor at Fervent Wealth Management. https://www. facebook.com/Dr.RichardBaker
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he stopped in front of the hurdle.” My cute wife had a good high school
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include colon hydrotherapy, hyperbaric oxygen therapy, Avacen 100 therapy, nutrition and detox programs, and more. Goody bags at the celebration also included information about other health-related businesses in the area, to help even more people find solutions to help them feel better and enjoy life. After the Alive & Well ceremony, the group moved to Suite 107 to celebrate
track career, but hurdles were not her event. Her friend jumped like a gazelle, but the one time my wife tried hurdles, she slid to a stop, too scared to jump. Right now, stocks are jumping over two major hurdles. With the S&P 500 up just over 4% as of October 17, stocks are having an October to remember on the heels of a September to forget. Savvy investors saw the September market lows as a buying opportunity and raced in to buy the dip.
But of course, there are those two lurking hurdles: interest rates staying higher for longer than expected and the Israel-Hamas war. First, the market may have to live with higher interest rates for much longer than anticipated. It seems there won’t be any significant rate cuts until the middle of 2024. However, there are reasons for optimism. The Federal Reserve chairman said on October 19 that they are probably finished raising rates, which isn’t as great as a rate cut but
is still good news. The second and most interesting storyline is the current Israel-Hamas war. Following the hospital bombing in Gaza, oil prices have moved higher, but only slightly. Though this war has the potential to escalate and upset global markets, the stock market has coughed it up to the Middle East being the Middle East. The stock recovery doesn’t come without risks and some timely maneuvering because of the mon-
etary policy uncertainty and escalating tensions in the Middle East. I have pulled back on some on international stocks in the accounts I manage from a slight overweight to a more neutral stance while increasing my large-cap value holdings. I do this mostly because of weakening European economies, better-than-expected economic growth in the U.S., and a strengthening of the U.S. dollar. With an expectation of solid earnings reports this
quarter, oil prices remaining in check, and interest rates at least holding, we could have some upside opportunities in the remaining months of this year. After all these years, my wife continues to be faster than me but is still a timid jumper. Right now, stocks are doing well jumping the hurdles, maybe not like a gazelle, but good enough for a solid month. Let’s hope they don’t get timid too. Have a blessed week! www.FerventWM.com
with Jessica Cleary and her artistic team at JessAngel Beauty. The studio specializes in lash extensions and permanent cosmetics, and select other services, as well as offering encouragement and educational opportunities for aspiring cosmetologists hoping to specialize in such services. The location also houses a boutique, offering unique and fun clothing and gift items, including some by other local artists. Following the ribbon cut-
ting ceremonies, guests were encouraged to browse both business and learn more about their services while enjoying delicious snacks, many prepared by other local businesses including tasty iced coffee from Coffee Creations. Learn more about JessAngel Beauty on Facebook and at www.JessAngelBeauty. com or call 417-844-0018 for your appointment; find Cindy Kelly at www.stayaliveandwell.life or on Facebook, or call 951-775-3400.
Above, left: Some of the seasonal apparel at JessAngel Beauty & Boutique. Above, right: Ribbon cutting attendees joined in prayer of thanks. (Photos by Cynthia J. Thomas)
