📷️ No Pictures, Please!

The town of Fujikawaguchiko has had enough.

They’re fed up with misbehaving tourists taking over the town to get photo ops of Japan’s iconic Mount Fuji.

They’re so fed up that local town officials have begun construction of a large black screen on a stretch of sidewalk to block the view of the mountain.

That’ll show ‘em!

- Team Advisorist

In Today’s Issue 👇️ 

• Why seniors are looking for help with financial decisions

• The “spaving” problem sweeping social media

• Are women being underestimated in money circles?

🚨 Where Seniors Go for Help Making Financial Decisions

They say age brings wisdom.

Yet a study of 2,000 Americans ages 64+ say they still don’t have life figured out.

Despite 57% of respondents saying they feel like everyone expects them to always know what to do, there’s often a lack of clarity on how to proceed.

Some findings:

▶️ 17% of respondents say decision-making gets harder as they age

▶️ 67% of respondents say they consult others before making a big decision

And, in our opinion, here’s the most interesting takeaway: Seniors are feeling less confident than ever about financial decisions.

▶️ 31% of respondents consult others before making a large financial purchase

▶️ 35% of respondents seek help from friends and family before making investment decisions

Who are they going to for help in making these decisions?

⚫ 44% trust their partner/spouse

⚫ 37% consult their adult children

⚫ 29% talk with friends.

Now, let’s zoom out and think about this from our perspective as advisors.

How should this impact the way we communicate to clients in their late-50s and 60s?

It’s a clear indicator that you can’t engage a client in isolation.

This is why we always encourage advisors to get both spouses on for a Zoom meeting.

It’s why it’s important to get email addresses for BOTH partners so that each is receiving communication from you.

Seniors are making decisions with support.

If you only have influence over 50% of that equation, you’re going to have a much lower close rate (and your client retention will take a hit, too).

Headline Roundup

🏠 Affecting Your Clients

• Renters’ Hopes of Being Able to Buy at Record Low [CNBC]

• 62% of Parents Feel Burnt Out [OSU]

• Americans Expect 10% Mortgages Within 3 Years [MW]

📈 Markets & Economy 

• Treasury Yields Stay Flat After April Jobs Data [CNBC]

• Analyst Doubles Down on Bitcoin $150K Price Prediction [TB]

• Berkshire Hathaway Operating Earnings Soar 39% [CNBC]

💼 Industry Roundup 

• Buffett: ‘AI Scamming Next Big Growth Industry’ [CNBC]

• Millennials Want Advice Now, But Industry ‘Unprepared’ [INN]

• Supreme Court Case Discusses Planning for Family Businesses [FP]

🤑 Americans Can’t Stop ‘Spaving’

spav·ing | noun | the curious activity of trying to save money by actually spending more money

Spending more to save more has become an all-too common issue for millions of Americans.

Examples include:

• Limited-time deals that require you to buy more of something than you were anticipating for a lower “per-unit” cost

• Buy-one, get-one deals

• Costco-style memberships that require you to buy in bulk

We’re all victim to these deals from time-to-time.

Sometimes, they make sense. But other times, they actually cause people to spend more money than they anticipated (under the disguise of saving money).

Social media influencers call it spaving – and it’s just another trend in a long line of social media money fads that aren’t always helpful.

″Spaving is us justifying our desire to buy more,” says Brad Klontz, a Boulder, Colorado-based CFP.

📱 FinTok Trends Sweeping America

The “spaving” trend is reminiscent of the “girl math” trend that has been popularized on TikTok.

The idea behind “girl math” is that you break down the price of a purchase by the number of times you’ll use that item.

So if you’re buying a luxury car for $75,000, but you plan on driving it every day for at least 6 years (365×6), it only costs you $34 per day!

The problem with spaving, girl math, and other FinTok trends is that they don’t actually change the numbers – they just give people permission to reframe the purchase and feel better about it.

“We are just constantly spending more than we can afford and then we experience stress related to our financial health,” Klontz says.

👍️ Setting the Record Straight

We’ve been screaming this from the proverbial mountaintop lately, but there’s a huge opportunity online for highly-trained and experienced financial professionals to give trustworthy recommendations and advice.

Hundreds of new 7-figure advisors will be minted over the next several years as a result of committing to platforms like TikTok, YouTube, podcasts, etc.

Will you be one of them?

🗓️ Event of the Week

Power Hour: Today at 12pm EST / 9am PST

Curtis Nalley – an expert in the small business and startup lending space – joins the Power Hour!

Curtis has a fresh perspective on debt, and how to use it to grow any business at a 0% interest rate.

As an advisor, understanding how he does this can give you the toolset and knowledge to become a more valuable advisor – particularly for biz owner clients.

👉️ Click here to register and join!

🧮 By the Numbers

94%

That’s the percentage of women who believe their economic power is being underestimated.

Case in point…

When asked who benefits most from the ‘Great Wealth Transfer’ — which will put trillions of dollars in the hands of women over the next few decades, and result in women having the majority of wealth in the US — just 17% of men said it would be women. (And just 42% of women surveyed said they believed it would be women.)

✌️Good Vibes

Robert and Margaret Isdale haven’t had many quiet moments in their lives…

But they’ve had a lifetime of warm memories and rewarding relationships.

Over the years, the couple – now in their 80s – have fostered over 150 children in their home.

They were recently bestowed with a prestigious lifetime achievement award in their town.

“It’s really quite humbling,” Robert, 81, says.

“It’s not about us, it’s about the kids we look after – they’re the important ones.”

The Isdales say, despite their age, they have no plans to stop fostering anytime soon!

Sharing looks good on you.

When you copy that link at the bottom and share it with a few financial planning colleagues, you look like the smartest advisor in the room by keeping them informed.

Plus, you earn rewards. Sweet.