Dyer & Co Newsletter - August 2025

Daybreak on the Missouri River a few days ago

Well, that pretty much does it for summer. After an unforgettable fishing trip to Montana with my son, I am on the road again--this time to take my daughter to college. Junah and I just said our farewells after a fun summer of learning and collaboration but not before she left us with one final thoughtful piece on minimalism that I think you'll find both practical and inspiring. Her contributions to the newsletter this summer have been invaluable, and we'll miss her insights. WDAV just hosted me on a panel for financial planning tips to mark Make a Will Month (replay available soon). And many of us have been busy working together on your financial well-being. As we move into the last quarter of the year, please let us know how we can help you feel good about your financial footing. Meanwhile, we hope you enjoy the August newsletter.

Market Update:

From new OBBBA tax provisions to continued geopolitical tensions in the Middle East, markets entered the second half of 2025 on uncertain footing. Still, July delivered strong gains as investor optimism around corporate earnings pushed major indexes to fresh highs: the S&P 500 rose 2.2%, the Nasdaq gained 3.7%, and the Dow added 0.1%. Fueled by AI momentum and deal activity, Tech led for a third straight month, while Industrials and Communication Services also advanced. Healthcare was the weakest sector.

August built on this momentum, with the S&P 500 closing at a record 6,445 on August 12. By August 18, year-to-date gains stood at +9.7% for the S&P 500, +11.5% for the Nasdaq, and +5.3% for the Dow. Sector performance was mixed: Tech cooled on valuations, Energy rebounded on oil, and Healthcare lagged.

Key Market Drivers:

Passage of the “One Big Beautiful Bill” offered near-term stability, but raised long-term trade and tax questions.
The U.S. maintained stable trade relations with China while continuing negotiations with other countries to ease broader tensions, including new agreements with the European Union and Japan.
The Fed held rates were unchanged as economic data sent mixed signals. Job growth came in weaker than expected, with only 73,000 jobs added, while inflation accelerated from 2.4% to 2.7% in recent months. As a result, the Fed continues to adopt a wait-and-see stance.
Middle East geopolitical developments remained a key market concern, with ongoing regional tensions affecting global investor confidence.

As we move further into the second half of 2025, Fed policy and global relations will remain the key drivers of market direction. July and August reinforced a familiar theme: markets can advance even when the path ahead is clouded with uncertainty. It serves as a clear reminder that resilience in the face of volatility can yield some of the most meaningful gains when markets rebound.

Junah's Corner: Minimalism

For as long as I can remember, when summer's heat faded and autumn's chill crept in, I'd start dreaming of a new wardrobe. I'd be lured in by social media, with videos insisting I needed a certain sweater or scarf. Every year, I caved and convinced myself that each purchase was "necessary" or "life-changing." By December, most of it sat in a pile headed to Goodwill.

Now, entering my junior year of college, things have changed — and my bank account shows it. I've realized no new top will transform my beauty, and no set of gel pens will determine my success. By resisting social media's pull and asking whether a purchase truly adds value, I've nearly doubled my savings.

Without even realizing it, I began to embrace minimalism. It didn't happen overnight; it took planning, persistence, and plenty of trial and error. The biggest shift came when I finally understood what minimalism actually was.

When you think of minimalism, what comes to mind?

Maybe you picture a neutral-colored room, uncluttered surfaces, and a low platform bed. For years, I pictured a scene from a documentary showing a man whose only kitchen utensil was a lone spork, his kitchen otherwise bare. That narrow image kept me at arm's length from minimalism.

The truth is, we were both a little off. At its core, minimalism is the ability to simplify without losing quality. It looks different for everyone. For some, it's neutral walls and open surfaces; for me, it's pink-painted walls and a shelf of beloved romance novels. Both approaches still embody the principles of minimalism: valuing what you keep and letting go of what you don't need.

Getting Started: Three Simple Strategies

Create a waiting period: When something catches your eye, pause and take a step back. If it's a pricey item, add it to a wish list with the date and wait 30 days. If you still want it after that time and it fits your budget, it might be worth buying. This barrier gives you time to think and check what you already own that might serve the same purpose. More often than not, the urge fades, saving you both money and space.
Choose experiences over things: Before buying something, ask yourself what else that money could accomplish. When you add up your spending, you may realize it could have funded something more meaningful: a day trip, a class, or a contribution toward your retirement. Last summer, I had a wake-up call when one of my favorite musicians was in town, but I had already spent my paycheck on impulse purchases. I had traded a lasting memory for forgettable clutter, which reminded me to direct my money toward experiences that will stay with me.
Invest in quality over quantity: Choosing fewer, well-made items may cost more upfront, but they last longer and save money over time—unlike cheap products that barely last a month. Investing in quality means you buy less often, reducing waste and clutter. That said, not everything is worth a large investment; the key is knowing when quality matters. For me, I only buy physical copies of books I know I'll reread and treasure. I read most books online first, and only invest in a physical copy if it truly resonates with me. This gives me a smaller collection of meaningful books rather than shelves I'll never revisit.

These three strategies are just a starting point for embracing minimalism, and I'm still learning them myself. They offer structure to help develop the mindful approach that minimalism encourages, with one simple foundation: be conscious of what you value, because it directly shapes your spending habits. Take time to reflect on what truly matters to you and what you could live without. Look around your space, whether it's your living room, bedroom, kitchen, or bathroom. Do the items there add genuine value to your life, or are they simply draining your bank account and creating clutter?

What is FIRE?

Imagine walking away from your job decades before most people, without worrying about money ever again. That is the promise of FIRE (Financial Independence, Retire Early), which is a movement built on extreme saving, strategic investing, and intentional living.

The FIRE philosophy draws heavily from the 1992 best-seller “Your Money or Your Life” by Vicki Robin and Joe Dominguez, which promotes a powerful idea: evaluate every expense in terms of the number of working hours it took to pay for it. In recent years, the movement has surged in popularity, offering a path to escape the 9-to-5 grind, sometimes decades early, while building lasting, long-term wealth.

How to start FIRE:

Track Every Expense: Understand where your money is going. Break down purchases into the work hours needed to pay for them, it’s a mindset shift that makes spending decisions far more intentional.
Cut Costs Aggressively: Find ways to reduce recurring expenses whether it's things like transportation, subscriptions, or dining out. The leaner your budget, the sooner you can reach your savings target.
Maximize Your Savings: Strive to save a large portion of your income (many FIRE followers set aside 50–75% of their income). Direct these savings into investments rather than letting your cash lose value over time.
Invest Intentionally: Be intentional with your investments by building a diversified portfolio designed to generate steady income while delivering long-term growth and financial stability.
Target the 25x Rule: Multiply your annual expenses by 25 to set your FIRE goal. For example, if you spend $80,000 per year, your FIRE goal is $2,000,000. Use this as a reference point, then save and invest until you reach it, at which point you can live off your portfolio.

Even if you don’t follow FIRE completely, embracing its core principles can give you the freedom to live life on your terms. You can spend more intentionally, grow lasting wealth, and reclaim your most valuable asset: your time.

Kiddos seen at the rodeo in Cascade, Montana

From Montana rivers to college dorms, from minimalist mindsets to FIRE movements, this month reminds us that financial wellness comes in many forms. Whether you're simplifying your spending habits, planning for early retirement, or just navigating market uncertainty, the key is finding an approach that aligns with your values and goals. As we head into fall, we're here to help you make sense of it all and keep your financial plan on track.

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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