Happy New Year!

Let me begin by saying thank you. This was a record-setting year for business. Whether you look at client performance, revenue, assets under management or professional satisfaction (dare I say fun?), this year set all-time highs. Of course life happened. Many of you experienced painful loss or difficult transitions. Some of you took once-in-a-lifetime vacations or graduated or retired. It’s been a privilege to serve you whatever the circumstances. I am deeply grateful.

Resolutionary

Good luck finding a parking spot at the gym next week. We love our New Year's resolutions, don't we? In 2023 I reviewed the excellent book by Oliver Burkeman, "Four Thousand Weeks: Time Management for Mortals." He just had a thoughtful essay in the Wall Street Journal the other day. What I liked about his piece is that he acknowledged the fervor with which we greet the new year usually flames out--quickly. Burkeman suggests that the gap between who we are and who we would become is usually too large for us to bridge. Instead he advocates for a humorous and also wise goal of "radical doability." What can you achieve today? Or right now? I've seem similar proposals for "Damp January" and "regular (ish) meditating." Perhaps Dry January is too austere, or losing 20 pounds or getting to a 30 day meditation streak isn't realistic for you. Are there small changes that can still effect change? You absolutely can make a decision right now to set your phone down for 5 minutes to breathe (after this fascinating newsletter). That. Is radically doable.

What else might you focus on in 2025? Here are some key contribution limits to guide your goal setting:

$23,500 for 401(k) and 403(b) plans

$7,000 for IRAs

Catch up provisions:

$7,500 for workers aged 50 and older.

$11,250 for workers aged 60 - 63 (this is new in 2025 under SECURE 2.0)

Off-Channel Communications

Texting while driving can be deadly.

Texting as a financial advisor can be financially ruinous.

Recent fines to investment firms have exceeded $470 million (!) due to undocumented communications. Why? Traditional texting can't be archived like business emails, leaving clients vulnerable in case of disputes.

Good news! We're introducing a secure, compliant way to text with our team. All messages are properly archived to protect you as a client.

To get started, simply add this new contact to your phone:

Dyer & Co: 704-228-3311

Important: Please save this as "Dyer & Co" (not under any individual's name) to ensure proper routing of messages. Try it! Drop us a line!

For personal matters or casual conversations, you can still reach me at my regular contact info:

Mobile: 704-907-2440
Office: 704-323-6872

US Economic and Stock Market Summary

The U.S. economy wrapped up 2024 with steady growth, bolstered by resilient consumer spending and a strong labor market. Inflation continued its downward trend, leading the Federal Reserve to maintain its target interest rate through December, signaling a more cautious approach to future rate changes.

As of this writing, there was still a little trading time left in the year, but overall the U.S. stock market capped off the year with another strong month, as the S&P 500 gained about 3% in December, bringing its annual return to more than 19%. More exact numbers will be available soon, but this appears to be the best 24 months for stocks in the last 25 years.

This performance was supported by solid Q4 earnings reports and improving economic sentiment, though concerns about elevated valuations and potential headwinds remain in focus.

Key economic indicators as we close the year:

Housing Market: Mortgage rates have continued to edge lower, with the average 30-year fixed mortgage hovering around 6.4%. This remains below the historical average of 8% since 1971, providing some relief to potential homebuyers.

Job Market: The labor market ended 2024 on a high note, with unemployment rates near historic lows, reflecting continued resilience across industries.

U.S. Dollar: The dollar maintained its strength against major currencies throughout the year, supported by economic stability and high interest rate differentials.

Looking ahead to 2025, markets are poised for potential shifts, with attention on a new presidential administration, congressional tax policy, Federal Reserve policy, global economic conditions, and corporate earnings trends.

Favorite Discoveries of 2024

NotebookLM: A game-changer for organizing thoughts and ideas. This AI-powered tool transformed how I managed big blocks of information, making brainstorming and note-taking smarter and more intuitive. The podcast feature still blows my mind.

Acquired Podcast: A treasure trove for business and tech enthusiasts. Each episode dives deep into the stories of iconic companies, offering valuable lessons and inspiration. I recommend starting with the episode on Costco or Visa.

The Psychology of Money: Morgan Housel's insightful book explores how human behavior drives financial decisions. It’s a must-read for anyone seeking to build a healthier relationship with money.

Northeast Sports Network: While I hope to attend many Colby College Women's Lacrosse games in person in the years ahead, I'm glad to know this is where I can stream from home.

We hope you enjoyed the December edition of the Dyer & Co. newsletter! We are here to support your journey towards financial wellness and achieving your goals in 2025 and beyond. Don't hesitate to reach out with any questions or concerns. Happy New Year!

Thank you for reading. If you liked this content, please share with a friend. You can always reach us by replying to this email or at 704-323-6872.

Visit our Website