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Articles by: Joe Day
Doom & Gloom?
Joe Day | July 13, 2023
Our national media cycle is a non-stop barrage of mostly gloomy headlines focused on topics that generate clicks and views. Unfortunately, we are biologically wired to focus and react more to negative news than to positive news. In the information age, you can always find data points to confirm your opinion (cognitive bias, anyone?). But, in this post, we thought we would take the liberty of highlighting some of the…
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Travel Tips From the BMC Team
Joe Day | July 13, 2023
We are constantly discussing what it takes to meet our long-term financial goals with clients. However, we also discuss how important it is to live, today, finding our own balance between our future needs and our current needs. To be sure, travel budgets are a worthy goal! With summer upon us, we’d like to give a nod to living in the moment and share some of our team’s personal travel…
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Regional Bank Crisis
Joe Day | April 4, 2023
Recently, two regional banks, Silicon Valley Bank (SVB) and Signature Bank have been caught up, to some degree, in the making of their own demise. Both were seized by regulators last quarter, as their depositors realized the banks were struggling to keep up with withdrawals and were being forced to sell securities at a loss, to keep up. Ultimately, regulators intervened, citing a lack of confidence in their respective management…
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Building Wealth
Joe Day | April 4, 2023
Recently, I had a chance to preview a personal finance book by a best-selling author that focused on how to build and manage your wealth. During the process of reading an early draft of the book, it struck me that it is easy for many to think of wealth building and wealth management as the same thing. However, they are distinctly different and should be considered separately. Building wealth is…
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What’s Ahead for Investors in 2023 and Beyond
Joe Day | January 11, 2023
LOOKING BACK It’s difficult to know what the future will hold without understanding the past. 2022 was a difficult year in the market. An unprecedented, rapid increase in interest rates by the Federal Reserve, created significant market volatility and negative returns for the year: Consequently, the S&P 500 finished down -19.44% and investors experienced the risk side of the “risk/reward” relationship. What was different about 2022 was that the negative…
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Washington’s Long-Term Care Tax Status Updates
Joe Day | July 22, 2022
Thank you to Haley Sanford of New York Life for the status update regarding WA LTC Tax: Earlier this year Governor Inslee signed a bill that postponed the tax by 18 months. WA State did this to try and address a few bipartisan issues such as options for those who are close to retirement and will not pay in for ten years, live in neighboring state but work in WA…
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Economic Hot Buttons
Joe Day | June 14, 2022
Inflation is an economic indicator we discuss heavily with clients during our planning sessions to project future income needs. For years, inflation has been benign, to say the least. Over the last decade, policy makers have been attempting to increase inflation, to ensure it stays close to their preferred target of 2%. Anything lower than their 2% target, risks stagnation in an economy, or worse deflation, which is difficult to…
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MARKET TIMING: WHY NOT TRY?
Joe Day | April 5, 2022
During times of high market valuations and following long-periods of strong market returns, we are often asked where we think the market is “going from here”. The real question behind this inquiry is “is it time to sell?” When markets go up, it’s natural to be excited about the gains, while feeling nervous about giving back those same gains in the next market downturn. The crux of the question is…
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Slavery and It’s Everlasting Effects on Economic and Racial Inequality
Joe Day | August 18, 2020
In February of 1968, Harry Belafonte, host of the Tonight Show on NBC, had Martin Luther King Jr. on as a guest. Below is a clip of Martin Luther King Jr. responding to a question from his host and the following quote: “The economic problem is probably the most serious problem confronting the Negro community, and, I might say, the most serious problem confronting poor people generally”. It’s no secret…
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The Federal Reserve and It’s Impact on the Market Recovery
Joe Day | August 18, 2020
Many people have been caught off guard by the recent market volatility. Most have been surprised to see asset prices increase so quickly after hitting bottom in March. We’ve seen unexpected price movements before, but this was quite extreme given the fact that we are still very much in the middle of a pandemic, with no immediate end in site. What has been driving the recent recovery? Government intervention has…
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