Ryan Reveals a Surprising Side! 🎸

Published: Fri, 10/04/24

Updated: Fri, 10/04/24

Your Local Resource for Expert Financial Guidance and Support

A Few Questions with Ryan

Most Capstone clients know Ryan Turbyfill as an easy-going guy and a level-headed financial advisor, but did you know about his passion for heavy metal music? We asked him a few light-hearted questions on the personal side – here's what he had to say:

Interest rates cuts: What do they mean for you?

Recently the Federal Reserve cut interest rates from its 23-year high lowering its benchmark rate by 0.50 percentage points in an effort to ease inflation pressures. This move provides relief for consumers in markets like home and auto loans and those with high credit card debt. Mortgage rates, which had spiked due to previous Fed rate hikes, are starting to drop, although future reductions may be limited if the economy remains strong.

Auto loan rates are also expected to decrease, potentially spurring more consumer purchases. While credit card rates could dip, the savings for those carrying balances will be minor, and experts recommend paying down debt or seeking alternatives like balance transfer cards. On the downside, savers might see lower returns on high-yield savings accounts and CDs. The Fed’s projections suggest more rate cuts are likely through 2025, which could further impact borrowing costs across different sectors.

This rate cut is not something that should trigger any drastic changes to the average portfolio. However, if you have questions, please get in touch. We'll talk you through options and help you make sound decisions.

Money Dysmorphia is on the Rise

Social media has intensified the pressure to "keep up with the Joneses," leading many people, especially younger generations, to feel financially inadequate despite doing well. This phenomenon, called "money dysmorphia," affects nearly one-third of Americans, distorting their view of their financial situation. It is even more prevalent among Gen Z and millennials, who often compare themselves to others online, feeling behind financially.

Despite rising net worth in recent years, only 14% of Americans consider themselves wealthy, and more than half of those earning over $100,000 live paycheck to paycheck. Prolonged inflation, economic instability, and social media are partly to blame for this dissatisfaction. Many people overspend on luxury items due to the pressure to match the lifestyles they see online.

Exposure to glorified lifestyles online has left many people, especially young adults, feeling financially inadequate, even if they’re doing relatively well.

To counteract money dysmorphia consider spending less time on social media to avoid negative comparisons, remove stored payment information online to create a barrier for impulsive purchases, and address the psychological need to appear wealthy. True financial security comes from living within your means and focusing on happiness rather than material status symbols. Guardrails, like mindful spending habits and self-reflection can help prevent falling into the trap of poor financial decisions influenced by misleading online portrayals of wealth.

The Value of a professional

A majority (74%) of respondents to a recent financial study say they stress less about money and finances because they work with a financial professional. Over 60% say they wish they had started with a financial professional sooner. A trusted advisor provides structure, knowledge, and reassurance to counteract the distorted views that can cause money dysmorphia, shifting your focus from unhealthy comparisons to a more realistic and personalized financial path.

Get Ready to Fest!

Capstone celebrates the drive, spirit, and diversity of women by supporting of the 37th Annual Rocky Mountain Women’s Film Festival in Colorado Springs. Don't miss this event featuring over 40 wonderful and thought-provoking films.

Tickets and Details

Photo at top by Bob Linhart: The Abyss Trail near Guanella Pass.

Capstone built our reputation on friendly service, impeccable honesty, and respect for every client. Our clients’ needs drive our relationship, and the focus is always on you. We strive to be highly responsive to your requests and are skilled at creating solutions customized to your goals, values, and situation. Reach out anytime with questions. We're happy to help!

Capstone Investment Financial Group, LLC

Colorado Springs/Denver

719-477-9883

info@capstoneinvest.com

620 N Tejon St
Colorado Springs CO 80903
USA

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