2C • OCT. 13, 2023
bransonglobe.com
Dave Says: It’s a gift to your family
BY DAVE RAMSEY, CEO, Ramsey Solutions, and an eight-time No. 1 national best-selling author, and host of The Ramsey Show
Dear Dave, I’m 67, and I’ve been wondering what your position is on preplanning for a funeral versus prepaying. Is one a better idea than the other, or should you do both? Shannon Dear Shannon, This is a great question. I wish more folks would think about these kinds of things ahead of time. Preplanning a funeral is
truly a gift to your family. But if you prepay, it’s a gift to the funeral home. Doing the legwork and setting things up ahead of time so your family doesn’t have to make a lot of financial decisions in the middle of an emotional situation shows them respect and consideration. When you buy a prepaid plan, you could be years or decades away from needing it. Plus, the inflation rate on funerals is about 4%, so in
essence, you’d be making 4% on your money. And, of course, you’re locked into everything at that point. If you took the cost of a funeral and invested it at age 30, instead of 4% on your money, you’d get an actual investment return. By the time you’re 80, you’d have about $600,000. So, prepaying in your 30s or 40s is mathematically ridiculous. Now, if you’re in your 60s, like you and me, there aren’t as many years
for that money to grow. You wouldn’t see a huge return on investment, but it would still provide for a nice service. Believe it or not, it took me a while to figure out that the funeral world is an industry—an extremely profitable industry. And like with many things, when you add on stuff like financing or prepayment to a purchase, you’re adding to their profits. Most funeral providers make as much money on prepayment plans
as they do in actual margin on the goods and services that go along with this kind of thing. That being said, I’ve got no problem with a business or industry making money. If they treat their customers well, no one’s taken advantage of, and a quality product or service is provided, it’s all good. But when it comes to funerals, I tell people to preplan. Don’t prepay. — Dave
Stock Market Insights: Navigating an odd investment quarter
DR. RICHARD BAKER, AIF®, is the founder of and an executive wealth advisor at Fervent Wealth Management. https://www. facebook.com/Dr.RichardBaker
T
hat’s an odd quarter.” Last Monday, my wife and I walked our dog through woods near an old barn to change things up. We find a few coins occasionally but didn’t expect to find some in that seemingly remote spot.
In much the same way, the past investment quarter was odd for the year we have been having. Stocks, which have been having a good year, lost over 3% in the third quarter after being dragged down by a terrible September. A negative September wasn’t unexpected since stocks have fallen more than half the time since 1950. This year, September continued its disappointing trend because of rising interest rates and fears of a government shutdown. It was an odd quarter because there wasn’t much of a performance difference between growth and value investing styles. Though
year-to-date, growth is still outperforming value. Energy was easily the third quarter’s top-performing sector. It was the only positive market sector in September mostly due to higher oil prices. However, as of October 5, oil prices have dropped over 9% in the past five days and hopefully will continue coming down. Real estate (-9%) and utilities (-10%) were the worst-performing market sectors for the quarter as higher interest rates hurt income-oriented sectors. Real estate continues to struggle, with the average 30-year fixed mortgage rate reaching a 23-year high at the end of last September.
The U.S. only slightly outperformed developed international stocks, while emerging markets stocks outperformed them both. With the overall economic environment, I wouldn’t be surprised if the markets continue to have some volatility this month. I expect the market to be unsettled this month because October is typically bumpy anyway, especially with the possibility of a government shutdown in a few weeks. But overall, I suggest investors stick to their investment plans because I am optimistic about where the market is going. • The labor market seems to be going in the right di-
rection, with a better balance between job openings and applicants. • Inflation is still too high but coming down. The Fed is probably finished with its most aggressive rate-hiking campaign, and the markets are adjusting to the new reality of higher rates. • Lastly, the fourth quarter is historically the top-performing quarter for stocks, with an average return of over 4%. I like where we are. For one thing, it’s impossible to try to time the market. I like how things are setting up with the Federal Reserve possibly pausing rates next
month, leaning towards lower rates soon, and the holiday shopping season fueling the last few months of the year. A little while after we pocketed the quarter, my wife remembered she had seen online that there was an outside dinner at that old barn a few weekends back. So maybe it wasn’t so odd to find that quarter where a party had recently been. Though remote, that barn still has some odd moments of abnormal people traffic. I think that is similar to how this year will end up, strong with a few odd months. Have a blessed week! www.FerventWM.com
ASM Global names Angie Teel new general manager for Branson Convention Center Submitted to Branson Globe ASM Global, the world’s leading producer of entertainment experiences, venue management and event strategy, has appointed Angie Teel as the new general manager for the Branson Convention Center, ushering in a dynamic era for the renowned event venue Teel’s extensive experience and unwavering commitment to excellence make her an exceptional addition to the Branson Convention
Teel (Special to Branson Globe) Center team. With a career spanning various leadership roles, she brings a wealth of knowledge and a fresh per-
spective to her new role. In making the announcement, Dan Hoffend, ASM Global executive vice president, convention centers, said, “Angie is a superstar, and we are so pleased that she will bring her talents to Branson. It’s a wonderful location, perfect for her to create a dynamic environment for all future events.” Teel’s prior roles include serving as the director of event services at the St. Charles Convention Center
in St. Charles, MO, from 2010 to 2018, and most recently as the assistant general manager at the Cox Business Convention Center in Tulsa, OK, from 2019 to 2023. Her accomplishments include collaborating on successful NCAA bids, hosting prestigious events such as NCAA Basketball and NCAA Wrestling, and welcoming sporting events like USA Gymnastics, USA Volleyball, and USA Taekwondo. Teel has also
overseen large conferences such as the Oklahoma FFA, SeneGence International, and Paper Pie (formerly Usborne Books & More). “I’m absolutely thrilled to join the ASM Global team here at the Branson Convention Center,” Teel said. “Branson is such a lively and fun destination, and I’m really looking forward to working with our talented crew and continuing to make this place the go-to event hotspot. We’re all about crafting
amazing experiences, sprinkling some magic into our clients’ and guests’ lives, and giving the local economy a boost all year round.” Demonstrating her commitment to professional excellence in the event management industry, Teel has maintained a prestigious CMP (Certified Meeting Professional) designation through the Event Industry Council since 2011. Teel is an active member SEE TEEL, PAGE 3C
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