Dear Friends,

We hope this update finds you well, and for our NW clients, enjoying our beautiful fall weather.

First, we want to acknowledge that living through recessions and market downturns is never easy! At the end of another tough economic quarter, we thought it would be helpful to offer some resources that provide reassurance if you’re feeling uncertain about the course of your financial plan. We have enclosed some relevant pieces for those interested that present a balanced perspective. The main message here is that emotional or panic-driven responses rarely bring long-term benefits. We have been through recessions in the past, and patience and courage have consistently been rewarded.

The universal truth of impermanence is also important to remember during these times. Nothing on this earth lasts forever. Times and seasons change. Higher interest rates will eventually bring inflation back in line with historical averages (2-3% per year). Supply chains will be repaired and stabilized. During times like this, please resist the urge to extrapolate what is happening today to fifteen years down the road. Instead, focus on things in the present and things you can control.

Stay as detached as you can from the hype and predictions. Do stay informed, but be aware of that fine line between staying informed and exposing yourself to an onslaught on your mental health by reading or listening to the extreme voices that are often given a platform by the media. Instead of constantly looking at your account statements, try this: stay focused on your long-term goals & plans, reduce and eliminate debt, increase your savings rate, and above all, remember who and what is most important in your life. Find things to be thankful for and ways to express your gratitude daily.

We continue to be grateful for the privilege of serving you and coming alongside your financial journey. Thank you for your courage and patience during these difficult times. We take nothing for granted and remain honored by your decision to retain our firm as your trusted financial counsel. Please feel free to reach out before our next annual review if you have any specific questions about how current economic events are impacting your financial plan or goals.

Wishing you all the best in the fall season,

The IFS Team