Aviance Capital Partners

Raising a child in 2023 could cost an average of $331,933 from the time a child is born to age 18, according to a 2023 study by Northwestern Mutual. Shocking, right? But here's the twist: Taking care of aging parents may be even more expensive. According to a CNN report from April 20, 2023, an assisted living facility can cost an average of $5,806 per month or roughly $70,000 per year. And then there is memory care, the fastest-growing sector of the senior housing market. On average, memory care costs just over $7,500 a month or $90,000 per year! We believe people should prepare ahead of time! Talk to your parents about their wishes and potential financial needs. Explore extended care solutions early on. Establish a financial strategy that’s flexible when it comes to medical and care expenses. A financial professional can help by showing how different scenarios can be supported. Share your experiences in the comments! #SeniorCare #LongTermCare #FinancialStrategy NorthWesternMutual.com, September 26, 2023. https://lnkd.in/gMUGWxnf CNN.com, April 20, 2023. https://lnkd.in/g7WiarWA

Weekly Market Update September 23, 2024 Outlook The Federal Reserve lowered its target interest rate for overnight lending by 50 basis points (i.e. 0.5%) in what we believe to be the start of a rate lowering cycle. Typically, the Fed...

Did you know that economic trends tend to have a more consistent relationship with market performance than who wins in November? As we approach the 2024 election, here's what we think you need to consider: 1️⃣ As the chart shows, who sits in the Oval Office is only one factor in stock prices 2️⃣ The stock market has fluctuated under the leadership of both parties 3️⃣ The overall economic conditions tend to have an influence on the business environment Our take: Be prepared for some volatility as the election approaches. But don't let short-term price swings distract you from your long-term financial goals. #Election2024 #Financial #InvestmentStrategy #TaxPolicy Baird.com, March 14, 2024. The S&P 500 Composite Index represents the stock market, which is an unmanaged index considered representative of the overall U.S. stock market. Index performance is not indicative of the past performance of a particular investment. Past performance does not guarantee future results. Individuals cannot invest directly in an index. The return and principal value of stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost. https://lnkd.in/e8fCqrDF U.S. Bank, June 21, 2024. https://lnkd.in/eagbd8pr Tax Foundation, June 2024. https://lnkd.in/eyG-HMc9 CNBC.com, June 13, 2024. https://lnkd.in/eqsg2xfA

Aviance's Weekly Market Update Weekly Market Update September 16, 2024 Outlook

Imagine this: you mail a check to one of your accounts only to discover later it's been stolen, altered, and deposited into something you don't recognize. Mail theft is more common than you might think. It has steadily risen nationwide, with cases surging by 400% since 2019. Check out this real-life example: A recent incident involved an individual mailing a check for estimated taxes to the IRS. Unfortunately, the check was intercepted during mailing. The thieves then cleverly altered the check, making it payable to two individuals. The fraudulent check was deposited into separate accounts under the thieves' names. Thankfully, the bank eventually resolved the issue, but the experience serves as a stark reminder: fraudsters are constantly innovating, and mail remains a target. Here are some steps to consider: 🔘 Go digital: Many institutions, including the IRS, offer online payment options. Switching to electronic payments eliminates the risk of mail theft. 🔘 Shred sensitive documents: Don't toss out old bank statements or credit card offers. Take the time to shred anything that relates to your personal finances. 🔘 Monitor, monitor, monitor: Review bank and credit card statements regularly. If you notice something unusual, report it immediately. Don’t think that fraud can just occur online. Take steps to help protect yourself both off and online! #Fraud #Mail #Protection TCR Staff, “Mail Theft On the Rise Nationwide,” The Crime Report, November 1, 2022. https://lnkd.in/gjUgTuVA

We hold them in our hearts. #September11th 23 years ago today, our nation witnessed unimaginable acts of violence. We remember the innocent lives lost, the families forever changed, and the heroes who ran toward danger. May their memory be a lasting reminder of the strength that unites us in the face of darkness. ️ #NeverForget #PatriotDay

🌀 It’s hurricane season. Remember Hurricane Beryl, which made landfall in the Caribbean just a few months ago? It now holds the title of the strongest hurricane on record in July. In fact, no other storm reached Beryl's level of intensity so early in the hurricane season, which runs from June 1 to Nov. 30. 🌀 Interesting Hurricane Facts for #NationalPreparednessMonth 🌊 🔘 When fully developed, one hurricane can release heat energy equivalent to a 10-megaton nuclear bomb exploding every 20 minutes. 🔘 They are rated on the Saffir-Simpson Scale from 1 to 5 based on wind speed (74-95 MPH for Category 1, 157+ MPH for Category 5). 🔘 And can travel over 60 miles per hour. 🔘 The typical hurricane is about 300 miles wide, affecting large areas. Our take: The best preparedness comes from community connections. Knowing your neighbors and local resources can be as vital as any emergency kit. September is National Preparedness Month, and being ready is more crucial than ever. But preparedness isn't just about stockpiling water and batteries. Some less obvious but impactful prep ideas: ✅ Create a neighborhood group chat for emergencies ✅ Familiarize yourself with your area's evacuation routes ✅ Have a plan for your pets ✅ Consider storing important documents digitally For more preparedness tips, check out FEMA's interactive prep guide. Any other tips? Share below! #CommunityResilience NBCNews.com, July 1, 2024. https://lnkd.in/eG6BQMQR https://lnkd.in/eZ3Jhr_r, July 2024. https://lnkd.in/ejux6BWC=linkedin/planet-ocean/waves-storms-tsunamis/hurricanes-typhoons-and-cyclones#:~:text=That's%20because%20they%20release%20an,bomb%20exploding%20every%2020%20minutes CMich.edu, February 22, 2023. https://lnkd.in/eDESBGHx

This is a good time for a reminder to reflect on our financial futures. 1️⃣ The Retirement Savings Gap: Many Americans believe they have not saved enough for retirement, with a portion having set aside less than $10,000. 2️⃣ Rising Costs: Healthcare and living expenses continue to climb, making retirement preparation crucial. 3️⃣ Social Security Uncertainty: The future of Social Security is uncertain, and relying solely on it is risky. 💡 Our Take: It is crucial to focus NOW on your financial future. It's never too early or too late to start preparing for retirement. As financial professionals, we specialize in creating personalized financial strategies that can help address these challenges. Our proactive approach is designed to show clients how to take control of their financial future and work towards retirement. If you know someone who isn't working with a financial professional, feel free to share this information. We welcome the opportunity to work together. #Retirement #Financial #Future #Strategy

Today, we celebrate the contributions of workers everywhere! #HappyLaborDay In our jobs, we see the heart behind all that hard work. You put in countless hours to build a comfortable life, perhaps save for your children’s education, or create a strategy for your dream retirement. We help families turn their aspirations into action steps based on their goals, time horizons, and risk tolerance. So, this Labor Day, as you relax and recharge, take a moment to consider your own future. What does your dream retirement look like? How do you measure whether you are on track? If these questions linger, we’d be happy to chat and explore ways that we can help you navigate your financial journey. Happy Labor Day, and here’s to a bright future for all! #FinancialStrategies #LaborDay #RetirementGoals

Emotions play a significant role in our relationship with money and financial decisions. For some people, deep-rooted emotional obstacles tied to money can make certain aspects of personal finance more difficult and stressful. Financial trauma is a real and impactful consequence of experiences like childhood poverty, economic downturns, fraud, and more—and can manifest itself during the personal finance process. Some examples are: ● Financial inaction: Feeling overwhelmed and unable to take control. ● Decision paralysis: Difficulty making financial choices due to anxiety. ● Scarcity mindset: A pervasive fear of running out of resources. Recognizing these and other potential roadblocks is crucial for pursuing financial well-being. Financial professionals can offer a supportive environment to help address some of these challenges. They’re way more common than you might think. #FinancialTrauma #FinancialWellness #MoneyMindset