2023 Fall Newsletter: Kansas City

If we had to choose the 2023 word of the year, I think we might need to make it two words: interest rates.

How many conversations have each of us had this year that included a reference to interest rates in one form or another? How we got here is a fun discussion that often involves comments like, “Back when we were first married, do you know what our interest rate was on our mortgage?” Now that we’ve found ourselves in a world where one can actually receive a decent rate on savings, but pay a much higher rate on a new mortgage, we’ve all had to adjust our financial decisions a bit; some for the better, some not so much.

As with any meaningful shift in the landscape, it pays to consider what adjustments we might wish to make for ourselves in our long-range planning. The goals may not change much, but how we choose to accomplish those goals might look a bit different now.

In this edition of the Elevated Insider, we’re sharing some thoughts with you on a topic that affects us all, Social Security. There continue to be many articles and headlines that focus on the viability of the Social Security system, and the changes that are being made to add longevity to the benefits payable; it’s not often that you see a discussion about when to apply for benefits. If we can start with the premise that the system isn’t going away anytime soon, we can take a deep breath and consider what Social Security claiming strategy might be best for our unique circumstances. We hope you find the Back to the Basics on Social Security helpful whether you’re deciding when to receive your benefits or maybe helping a friend or family member think through their own options. 

Next, we touch on the age-old question of whether money buys happiness. The answer may be a bit nuanced, but it has real-world consequences if you agree with the findings of multiple studies on the subject. Pair that with the higher interest rate world we find ourselves in and you have the makings of another fun discussion about money, happiness, and the intersection of these things. Check out the Briefcase Study to read more on this.

As we continue to broaden our service offerings here at Elevated Retirement Group, consider how we might help you or a friend with your next financial decision. Whether we assist you directly or pair you with one of our many business partners, there’s a good chance that if it’s at all related to you achieving your goals, we have options available to help you. We love to serve you so keep us in mind next time you have a financial, tax, or estate planning question.

Enjoy this edition of the Elevated Insider and enjoy the fall weather!