Dyer & Co Newsletter - May 2025

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As May unfolds, I find myself in a season of reflection. Our daughter Lucy is preparing to graduate high school – a milestone that has me contemplating the swift passage of time and wondering whether there’s parenting lessons I can cram into the weeks that remain with her under our roof. It was the educator Johnetta B. Cole who said, “You cannot always prepare the path for your child, but you can prepare your child for the path.” That truth is starting to sink in as I stare out at the path. Gulp.

Yes, my kid is leaving the nest with an old college savings plan, a new Roth IRA and even basic estate documents. Obviously I think those things are very important. But they’re distinct from life itself. They’ll provide a portion of what is the mostly-invisible foundation to a life filled with real riches (and challenges) to be discovered when you’re not sitting around counting your money but out on the path.

This is why financial planning matters. We're not simply managing money; we're creating possibilities for the moments that define our lives. Whether you're celebrating graduations, planning summer adventures, or simply enjoying the gifts of spring, I hope this season brings you meaning and renewal.

Market Update: Enduring the Parade of Nonsense

If I told you back in February or March that the S&P 500 would be down 0.76% for the month of April, you’d have yawned. But wow! The 30 day road to “down a little” was anything but a snoozer. The month in markets brought us a stark reminder that investing is not always smooth sailing, with historic volatility driven by tariff concerns, inflation worries, and mixed corporate earnings.

What a wild ride it was! We witnessed the S&P 500 index plunge roughly 12% following President Trump's tariff announcements, only to bounce back 9.5% later in the month. The most dramatic trading day came on April 7th, when the S&P 500 dropped 4.7% in early trading before surging 3.4% higher by mid-morning – a swing of more than 8% in a matter of hours. 

You can call yourself a long-term investor, but you still have to commit to the gut check of the moment. April's extreme market volatility contained quite a few of those moments – a test of whether our carefully crafted plans can withstand the emotional strain of fear and uncertainty.

I recently finished Morgan Housel's "Same as Ever," the follow-up to "The Psychology of Money." While I didn't enjoy it quite as much as his first book, Housel offers a powerful insight that feels particularly relevant right now. He writes: "So rather than assuming long-term thinkers don't have to deal with short-term nonsense, ask the question, 'How can I endure a never-ending parade of nonsense?'"

As we navigate this ongoing “parade of nonsense," remember that market volatility, while uncomfortable, is a normal and expected part of investing. You can't Rip Van Winkle yourself through the volatility and wake up with a successful, fully matured long term plan. You have to experience the anxiety of the present moment. However, history has shown that patient investors who stay the course are rewarded over time.

Financial Wisdom for New Beginnings

Whether you have a new graduate in your life or simply appreciate timeless financial advice, here are some principles worth sharing:

Start early, even small: The power of compound interest means that even modest savings in your 20s can outperform aggressive saving that begins a decade later.

Automate good habits: Set up automatic transfers to savings and investment accounts on payday. What you don't see, you won't miss.

Build an emergency fund first: Before aggressive investing, secure 3-6 months of essential expenses in a readily accessible account.

Understand your employee benefits: Many young professionals leave money on the table by not maximizing their employer match or misunderstanding available benefits.

Credit card wisdom: Use credit cards to build credit history, but pay them off monthly. The math of compound interest works against you dramatically when you're paying 18%+ interest.

Live like a student... a little longer: Keeping expenses modest for just a few more years after graduation can create a financial foundation that lasts a lifetime.

If you'd like to give a graduate in your life a copy of "The Psychology of Money," just let me know. I still have a few copies available!

Introducing Our Summer Intern

We're delighted to welcome Junah Jeong to our team for the summer! Junah is an Economics major and Data Science minor at Davidson College whose passion for service and building meaningful connections drew her to wealth management.

"I'm excited to dive deeper into finance and gain hands-on experience in the field," Junah tells us. "In my free time, you can usually find me strumming my acoustic guitar or out on the court playing pickleball!"

Junah will be starting next week, and we're looking forward to the fresh perspective and energy she'll bring to our practice. If you happen to call or stop by the office, please join me in making her feel welcome!

Save the Date: Charitable Giving Webinar

Mark your calendars for June 10th at 12:00 PM for a virtual lunch-and-learn webinar, "Beyond Cash: Creative Charitable Giving Strategies." As many of you know, I am proud to serve on the board of Roof Above in Charlotte. They have invited me to host this webinar to discuss how non-cash giving strategies can maximize both your impact and tax benefits.

We'll cover:

• Donating appreciated securities
• Qualified Charitable Distributions from IRAs
• Donor-Advised Funds
• Bunching strategies for charitable giving

Roof Above is handling the registration. Let me know if you’d like me to help you sign up!

As graduation season reminds us, endings and beginnings are often the same moment viewed from different perspectives. Whether you're celebrating a milestone or navigating a transition, remember that a good financial foundation provides not just security, but the freedom to embrace life's next chapters with confidence. Here's to your next beginning!

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.