September 2024 Newsletter

Sharing perspectives on a common experience brings us together as a community and a nation. Today as we remember the events of September 11, 2001 my thoughts go back to a perfect camping trip with one of my best friends and his dog. We came out of the Shenandoah Valley that Tuesday to learn that everything had changed. 


The details and the horror unfolded listening to the radio as we drove back to his home. Because he lived in Washington, DC we had to prove his residency to a military blockade before we were allowed to cross the bridge from Virginia back into the city. In the distance the Pentagon was on fire. 


Days later we attended our college reunion, lucky to find solace among friends. We told our stories. We tried to understand. We would learn that one of our fraternity brothers lost his older brother that day. In fact, we came to understand that Jeremy Glick was one of the heroes who confronted the terrorists on United Flight 93. 


It’s still impossible for me to imagine. What do you remember about that day? How can we honor bravery and sacrifice? How can we account for what was lost? How can we seek unity?


Our summer intern, Eli, surprised me when we were collaborating on upcoming newsletters. Back in July he asked if he could share some thoughts about 9/11. I am proud to include his words below. I encourage you to take the time to watch the linked video, which tells the story of another hero, Welles Crowther. 


Thank you, Eli. And thank you for reading our September newsletter.

Better to Buy or Rent?


Years ago I worked with someone who was equal parts wise and wiseguy. He was fond of saying, "When I'm rich, I'm going to rent." His eagerness to abandon homeownership centered on his clear-eyed understanding that owning a home comes with many costs and headaches that most gurus paper over when extolling the virtues of home ownership. So. Is it better to own or rent?


Buy v Rent: a calculator

  • Renting a Home:
  • Renting offers flexibility and reduces the burden of maintenance and unexpected repairs, which are typically the landlord's responsibility. However, renters may face rising rent costs and limited ability to make changes to the property.
  • Owning a Home:
  • Owning provides stability, the ability to customize your living space, and the potential to build equity as property values increase. However, it requires a significant financial commitment upfront, including a down payment, closing costs, and ongoing expenses like property taxes and maintenance.
  • Key Difference Between Renting and Owning:
  • Monthly Payment: Homeowners pay a mortgage, which can build equity over time, while renters pay monthly rent without building equity.
  • Property Taxes and Maintenance: Homeowners are responsible for these costs, whereas renters typically are not.
  • Insurance: Homeowners need comprehensive coverage, while renters require less expensive renters insurance.
  • Equity: Homeowners can build equity, whereas renters do not.
  • When deciding between renting and buying, consider your long-term plans, financial readiness, job security, and the state of the housing market. Both renting and buying have their own benefits and challenges, and the right choice depends on your personal situation and goals.

What's Next for Stocks


Historically, September tends to be a volatile month for stocks. This month is no exception. Adding to the drama (and a meaningful variable for the rent v. buy debate!) is the upcoming meeting of the Federal Reserve on September 18th. Will The Fed cut interest rates by 0.25% or 0.50%?


Hiring is slowing! Inflation is cooling! Valuation metrics are flashing red! Technical indicators are flashing green! There's an election looming! My newsfeed and my inbox are filled with warnings to sell. And warnings not to miss the next big opportunity.


To the investor with a solid financial plan in place, this is all noise.


Anyone who claims to know where the stock market will finish this month or this year is selling something. For the work we do together our predictions gain greater certainty over years and decades. Don't let the noise become a distraction.


Of course, if you have any questions or concerns related to the markets, your portfolio or your financial plan, we welcome the opportunity for a discussion.


The Story of Welles Remy Crowther


As a child, my brother and I (Eli) often had questions about where our dad was going and what he was doing. Being from Pittsburgh, naturally, my mom was used to Mr. Rogers’ words in times of tragedy: “Look for the helpers”. She happened to come across the story of Welles Crowther and used it as a way to emulate that the work my dad, and many other brave men and women are doing, are those “helpers”.


Crowther was born in Nyack, NY and, as most young men did, he found joy in playing every sport he could. As he grew older, he found his passions in the sports of hockey and lacrosse. Welles similarly grew up in a household that upheld the values of service where his dad served as a volunteer firefighter in Nyack, and Welles followed his father's footsteps, serving his community through high school. When he was young, his father gifted him a red bandana, and quickly became a staple for Welles in everything he did. In college, Welles would go on to play lacrosse at Boston College. Immensely loved by his teammates and peers, Welles was cherished for being the hardest worker and a great teammate on the field, and was an even better companion and friend off the field.


Upon graduating with a degree in economics, he would move back to New York and began working in the south World Trade Center as an equities trader. He was comfortable with what he was doing, but longed for something bigger than himself and more rewarding. It was always his dream to join the NYFD, where he could serve like his father and give back to the community that had raised him.


On September 11, 2001, Welles was working like usual on the 104th floor when a plane struck the tower between the 77th and 85th floor. Welles immediately left a message for his mother and told her that he loved her and that he was ok. Rather than getting himself down, he began focusing on getting others out of the tower because that’s the type of person Wells was. He helped direct people to the only operational staircase and even carried a woman down 17 floors on his back to get her to safety. As he did this, he donned his red bandana over his face to protect himself from all the smoke. Unfortunately, as Welles stayed in the tower to save more civilians, the tower collapsed.


A year later, on the one year anniversary of the attacks, Allison Crowther (his mother) was reading an article from the New York Times when she saw that several survivors claimed to be saved by a man wearing a red bandana. Allison immediately knew that it was her son. They did not know anything about this man, his background, what his goals were in life, but they knew they owed their life to this man. Welles’ legacy lives on in these survivors and in the sacrifice he made on that day.


What I like to remember about this story is that he was a regular civilian who put the lives of others before his own in a time of tragedy. His legacy as the “man in the red bandana” represents a prime exhibition of extraordinary courage and selflessness when the world needed it most: ultimately manifesting what it means to be a “helper”, in the words of Mr. Rogers.



This story has been crucial to my upbringing and my family watches this video every year to continually remind us to be one of the “helpers”. While that day has been cemented as one of the deadliest terrorist attacks on American soil, it serves as a reminder that there are people out there, like Welles, who put the lives of others before their own. Take some time to hug your loved ones and thank those who have made the ultimate sacrifice.

On a Lighter Note


Exactly five years after the events of 9/11, Gray's life would forever change again--this time for the better. Please let us take a moment to wish his daughter, Lucy, a very happy 18th birthday!

We hope you enjoyed the September edition of the Dyer & Co. newsletter! As we transition into fall, remember that we're here to support your journey towards financial wellness and achieving your goals. Don't hesitate to reach out with any questions or concerns—our team is always ready to help!


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.

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