Smedley Financial Services, Inc.

Is it intimidating to talk to your adult children about your wealth? If so, you’re not alone. Many parents in your shoes worry their kids will either feel entitled, or they’re afraid that their kids won’t end up managing wealth responsibly. However, when you ask those same adult children what they really want, the answer usually isn’t “mom and dad’s money.” What they really want is to understand how their parents have managed and built their wealth so they can continue their legacy. Talk to your adult children about how to manage money, different investment types, and the mistakes that you’ve learned to avoid.

Do you know how term life insurance works?

Term life insurance provides temporary coverage for a specified period, such as 10, 20, or 30 years. If the policyholder dies during this term, a death benefit is paid to their beneficiaries.

After the term ends, the policy typically expires, and no benefit is paid unless it is renewed or converted to another type of policy.

Term insurance is generally less expensive than other forms of life insurance. It’s often used to cover specific, temporary financial needs, such as mortage, education costs, or replacing income during a child-raising period.

Please reach out to us with any questions.

⛽ What Can the Price of Oil Tell Us About the Economy?

Oil prices aren’t just about what you pay at the gas pump. They can be an important signal for the economy—and potentially the stock market.

On the latest episode of the SFS Power Up Wealth Podcast, Mikal Aune sits down with James Derrick to discuss why rising oil prices can make the economy more vulnerable.

Here are a few key takeaways:
🛢️ Oil impacts nearly everything.
Transportation, shipping, manufacturing, and everyday goods are all affected by the price of oil.

📈 Higher oil prices can fuel inflation.
As energy costs rise, those increases can work their way through the economy.

🏦 The Fed may have less flexibility.
If inflation remains elevated, the Federal Reserve may have a harder time lowering interest rates—even if the economy begins to weaken.

🏠 Higher oil prices can mean higher interest rates.
And that can make mortgages and other borrowing more expensive.

📉 But high oil prices don’t automatically mean a recession.
They can make the economy more vulnerable, but there are important differences between today and past periods, such as 2008.

One major difference? U.S. energy production.

The United States produces far more oil today than it did in 2008, meaning higher oil prices can also benefit American energy companies and investors.

The big takeaway? Pay attention to oil—but don’t let one economic indicator dictate your investment decisions. A diversified, long-term approach can help you participate in what’s working while staying focused on the bigger picture.

🎧 Listen to the latest episode of Power Up Wealth to hear the full conversation at the link in our bio.

Did you know that September is National Preparedness Month?

It’s the perfect time to empower our youth with the knowledge and skills they need to be prepared for any disaster.

Here are some important steps to help teach young people about disaster preparedness:
🔧 Start the conversation: Engage children in discussions about different types of disasters and why it’s important to be prepared. Use age-appropriate language and examples to help them understand.

🔧 Create a family emergency plan together: Involve children in the process of developing an emergency plan for your household. Teach them what to do, where to go, and whom to contact in case of an emergency.

🔧 Assemble an emergency kit: Show children how to gather essential supplies like water, non-perishable food, flashlights, and first aid items. Explain why each item is important and how they can help during a crisis.

🔧 Practice emergency drills: Conduct regular drills to familiarize children with evacuation procedures and safety protocols. Make it interactive and fun to reduce anxiety and build confidence.

🔧 Encourage them to spread the word: Empower children to share their knowledge with friends, classmates, and neighbors.

Encouraging others to be prepared can create a ripple effect of readiness in the community. By teaching youth about disaster preparedness, we are equipping them with lifelong skills that can save lives and build resilience.

Did you know? That your total debt should not exceed 43% of your annual gross income. (Although lower is always better 🙂)

Summer vibes with a twist of finance! What’s on your money reading list? 📖 Whether you’re an armchair sociologist or a budding historian, find the perfect beach books for the summer. Dive into wealth history, timeless tactics, strategic thinking, and epic trades. Turn some pages and level up your financial reading!

What will your legacy be?