Hi friends!

Considering today’s invasion of Ukraine by Russia, we want to let you know that we are carefully monitoring the situation and the potential effects on the world’s markets. Well diversified investments can reduce the volatility caused by major external incidents, regardless of the circumstances. If you have any concerns or want to ask any questions about the economic impact of the Ukraine situation, we are here to help you!

This week we’ll take a closer look at one of the issues we discussed in last week’s email: how international affairs can affect America’s energy supplies–and how they can’t. Then, we’ll examine some money-wasting habits we all have but can fix.

The Russian invasion of Ukraine could have many implications for the world. One thing we don’t need to worry about is whether the US will be short on energy sources, because we’re doing just fine.

In 2021, the US shifted from being a net exporter to a net importer of petroleum, meaning we brought in more than we sent out. However, experts predict that this year will be a shift and that the US will return to being a net exporter.

Is the US energy independent? Should it be? Those are arguments that people take both sides on, and we’re not here to settle either debate. As with all things related to the economy, it’s complicated and has lots of moving parts.

What is clear is that oil and natural gas production in the US is increasing, and more and more people are using renewable energy sources as well. So regardless of what happens in Ukraine, and we only want the best for all the people of that region, we don’t need to worry that the US will face a shortage of energy sources as a result. It will cost more, but we will not have a shortage.

Fun fact: China and India together has more than twice as much energy as does the US.

Of course, just because there’s enough energy doesn’t mean we should waste it, and the same goes with money. Working with our team and investing in the Lifestyle Protector Program can help guide you with your money and spending. Here are three tips for cutting out some unnecessary expenses:

• Sales. They get us every time. But just because that t-shirt with a cat playing the drums is on sale doesn’t mean you need it. If you wouldn’t buy it at full price, do you need it at sale price? Just take a minute before you spend.
• Microtransactions. It’s a good thing Wordle doesn’t have any in-app purchases to worry about or we’d all be in trouble! But lots of phone games and other apps do. It’s free to download and then just a dollar here or there for an in-game upgrade, and oops, there goes your latte budget.
• Aspirational Clothes. Whether it’s a size thing, planning to be at a certain size by a certain time, or (as is often true of us) buying clothes because they reflect the person you want to be rather than the person you are? That adds up. Buy the clothes you know you’ll wear, or better yet, wear the clothes you have. Don’t be like us, taking yet another motorcycle jacket we’ll never wear to the thrift donation box.

Do you have any questions relating to world events or anything else? Give us a call, we’re always glad to chat. We’ll see you back in your inboxes next week.

How We Help:

Last week, we had a very nice meeting with a married couple who own a business together. Over the past several years, we have worked together to set them up to exit the business on their ideal timeline, plan a buyout, and discuss cash flow. At the end of the meeting, they let us know that they always feel better and more confident after meeting with us, which just made our day. We love hearing that they have acquired peace of mind with their plan. The buyout is nearing its completion, and they’re confident they have the wherewithal to live out their retirement in style. Many people in or nearing retirement are worried about their everyday finances, so every time we meet with clients we run their numbers. It is so rewarding to work with retired or near retirement clients who feel comfortable and know they can trust our guidance and expertise.

Advisory Services offered through Obsidian Personal Planning Solutions, LLC. Securities are offered through Triad Advisors, member ​FINRA/SIPC.​ Obsidian Personal Planning Solutions, LLC, and Obsidian Personal Planning Solutions, Inc, are not affiliated with Triad Advisors.