Hero Dog Saves Client | Stewardship Concepts Financial Advisors

Happy Friday! We have a modern-day Lassie story from one of our clients! The hero, Gita, his 13-year-old dog, saved his life! Thank you for joining me today for two minutes on the economy, an interesting story, and a financial planning secret.

Economy – Wait And See

U.S. consumer confidence dipped slightly in mid-October. Consumers remain frustrated by high prices despite easing inflation expectations. In September, producer prices remained flat, signaling continuing cooling inflation. We look forward to seeing the inflation numbers on the 31st. The U.S. job market exceeded expectations in September, adding 254,000 jobs (forecasted at 150,000). This lowered the unemployment rate to 4.1%. We’ll have to see if inflation kicks back up and if employment numbers are revised at a later date. This new information most likely won't make the Fed alter its current course of cutting rates. The great news is that with a stronger job market, the Fed potentially gets another tool in its belt. It can stop cutting rates without hurting the job market to fight inflation.

Interesting Story – Hero Dog Saves Owner

In Stevens County, our client, Keith Johnson is alive and recovering from only a broken hip, thanks to his 13-year-old dog, Gita, who sought help after Johnson fell outside. On September 25th, he was outside of his house, far away from neighbors, when he became dizzy, fell, and broke his hip. Stranded for six-and-a-half hours, Johnson called for help, but nobody could hear but Gita. She eventually laid down on the road until Stevens County deputy Colton Wright noticed her. After following her, Wright discovered Johnson lying on the ground. He called for medical assistance, and Johnson credits Gita for saving his life. Thank you Gita! The sheriff's office later shared Gita's viral heroic act on Facebook to recognize her real-life Lassie story. Check out KREM 2’s full story.

Financial Planning Secret – Emergency Fund

As a financial planner in Spokane, I discuss the importance of an emergency fund with our clients. While the general rule is to set aside 3-6 months' worth of expenses, our recommendation varies based on individual circumstances. Factors like job security, dual incomes, and access to penalty-free funds can justify a smaller emergency fund. For instance, you may not need a huge emergency fund if you have a brokerage account or another strategy to cover short-term expenses without taking penalties or too much capital gain. However, emotional comfort plays a role, too—some clients prefer a larger emergency fund for peace of mind, even if it means sacrificing potential investment returns. If their financial plan supports it, prioritizing emotional security can be just as important. If you have any questions about how much you should have in your emergency fund, reach out to our Spokane financial advisor.

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