MWM Weekly Update

The Week of August 16, 2021

MWM Weekly Update

The Week of August 16, 2021

“A person’s relationship with money is daily and lifelong,
therefore it is crucial to life success, security and freedom to master it.”

- Sam X Renick, educator

Greetings everyone,

How do we think about money? Most of us formed our feelings around money when we were children through our life experiences and the messages we received living with our families. Understanding personal finance is not based on math or economics, but it is rather psychology. It is our emotional response to money that will dictate how we choose to spend, save, or invest.

Emotions are so powerful around money that they affect our rational judgment. When you were a child, you might remember conversations where values around money were shared. Some families have experienced hard times when money was scarce. Parents or grandparents that grew up during the Great Depression shared their values with the generations that followed. Many told stories of their lives. Helen Oliver, age 83, wrote, “I believe working hard, sticking together, and watching our pennies helped us through those difficult times. ‘Waste not, want not' – important even today. Keep a positive attitude. Remember ‘Above the clouds the sun still shines.' "

The Great Depression came on the heels of the roaring twenties, just 100 years ago. People were partying it up with little thought of tomorrow. They borrowed money when just three decades before borrowing was considered shameful. They behaved as if borrowing “easy” money was considered the key to prosperity. In the days of the Great Depression, words like “instant gratification” and “me” were replaced with “we’ll have to wait” and “us”.

What are the lessons we are teaching our kids today? You have the power to start the conversation with your families to help develop awareness of the financial world. They can learn how to channel their emotions regarding money into positive behaviors and avoid destructive patterns. Learning to understand money and its mission in life is one of the most important skills to putting your kids on a path to success.

We are sharing a book by Sara Allison, MBA & Jonathan Knapp, MBA, CFP®, Raising Financially Aware Kids.  Free for the asking while they last.

Below is a fun picture of Sarah Berry’s sweet daughter, Bella. Bella is certain to become an entrepreneur with her merchandising success this past weekend.

As this summer is coming quickly to an end, we appreciate our clients and hope you are doing well.  Your team is always here for you. Let us know if you’d like to visit.


What do kids think it takes to become a millionaire?
32% Having a savings account
24% Becoming famous
21% Investing in stocks and bonds
18% Winning the lottery
5%   Inheriting from parents!

Judith McGee, L.H.D., CFP®, ChFC®
Executive Vice President and Senior Lead Advisor

In the Markets

  • Stocks closed mostly higher last week, with only the Nasdaq unable to end in the black. The Dow and the S&P 500 each closed the week at record highs, buoyed by a strong corporate earnings season. Treasury yields finished the week where they began, crude oil prices fell for the second consecutive week, the dollar and gold prices weakened. Consumer staples, financials, materials, industrials, and utilities led the sectors. All the major benchmark indexes remain well above their 2020 year-end closing values. The S&P 500, up nearly 19.0% since the beginning of the year, has nearly doubled since the pandemic lows of March 2020, with the energy sector the biggest climber during that period.
  • Equities opened last week mixed, with only the Nasdaq able to post a gain. The Dow (-0.3%), the S&P 500 (-0.1%), the Russell 2000 (-0.6%), and the Global Dow (-0.2%) each dipped lower. Several of the market sectors fell, led by energy, which declined 1.5%. Only health care, financials, and consumer staples advanced. Crude oil prices decreased nearly 3.0%, falling to $68.47 per barrel. The dollar and Treasury yields moved higher.
  • Stocks rebounded last Tuesday, with the S&P 500 and the Dow climbing to record highs. Energy, materials, financials, and industrials led the market sectors, each gaining more than 1.0%. Information technology slumped, dragging the Nasdaq down 0.5%. Crude oil prices, Treasury yields, and the dollar increased.
  • The S&P 500 and the Dow rose to new record highs last Wednesday on news that consumer price increases slowed in July, possibly reducing the urgency to ease stimulus measures currently in place. The Russell 2000 and the Global Dow also climbed higher. Only the Nasdaq slipped marginally. The yield on 10-year Treasuries and the dollar fell, while crude oil prices increased. Among the market sectors, materials, industrials, and financials continued to advance.
  • Wall Street ended last Thursday mostly higher, with the S&P 500 reaching a record high for the third consecutive session. The Nasdaq and the Dow also closed higher, while the Global Dow and the Russell 2000 edged lower. Passage of a $1 trillion infrastructure bill in the U.S. Senate helped boost industrials and materials, which would likely benefit from increased government spending on physical structures. The dollar and Treasury yields advanced, while crude oil prices slid.
  • Equities hovered near record highs in light trading last Friday. The Dow and the Nasdaq were flat, the S&P 500 inched up 0.2%, and the Global Dow rose 0.3%. The Russell 2000 dipped 0.9%. Yields on 10-year Treasuries, the dollar, and crude oil prices fell. The sectors closed mixed on the day, with consumer staples, health care, real estate, information technology, communication services, materials, and utilities gaining, while consumer discretionary, energy, financials, and industrials declined.


The housing sector is slowing somewhat. June saw the number of issued building permits lag from May's total, although housing starts increased. On the other hand, industrial production has risen fairly steadily since February and is expected to continue to rising accommodate increasing demand.

Source: Broadridge Investor Communication Solutions, Inc.

Articles & Education

Investing and Politics – Are They Connected?

The midterm results suggest there will be few policy changes in Washington during the next two years.

Giving Thanks this Holiday Season

Thanksgiving is an excellent time to talk to family about philanthropy and meaningful gifting. Here’s a few ideas to get started.
Investment Term of the Week

Thought of the Week

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Making Life a Richer Experience