Happy Monday Future Funders Family!

Did you know…

Memorial Day can trace its roots to the Civil War where it was originally observed by towns across the country to remember fallen soldiers.

After World War I the holiday was expanded to include all American wars, and in 1971 it was declared a national holiday by an act of Congress.

Today we just wanted to take a moment to remember the many brave men and women that are no longer with us as a result of their service to America.

Looking for ideas on how to pay tribute with your family? This will give you some thought starters.

💬 Quote Of The Week

🍽️ The Main Course

Headlines That Matter

Government

The Debt Ceiling Deal Does Not Matter

🚀 The quick version: The Donkeys and the Elephants seem to have agreed to allow the U.S. to borrow more debt… but they still can’t balance a budget.

Over the weekend the White House and Congress agreed to a deal to raise the US debt ceiling (currently stands at a little over $31 Trillion. Yea, with a capital T.). The agreement allows them to continue to pile on debt until January 2025 when they will have to raise it again (they pushed the next showdown until after the 2024 election).

In addition to an agreement to raise the debt ceiling, they also hammered out some modest Government annual spending cuts through 2025 (this article has some good detail on what is being cut). The House should vote on the deal on Wednesday and the Senate likely a few days later. It is expected to pass.

👪 How it affects your family: Longer term, our country not being able to balance a budget likely means we will have to learn to tighten our belt at some point (like we families do every day); but it’s also worth pointing out that the U.S. is in a unique position in the world.

Our debt is demanded by nations everywhere due to the stable nature of our Republic (despite what the media tells you) and the dollar being the the world’s reserve currency.

Many countries buy our debt as a way to have U.S. dollars stashed away should they need them for global trade with other nations. (here is a great video from Peter Zeihan on why the dollar as the world’s reserve currency is not going to change anytime soon).

So overall, we wouldn’t let the media get you too worked up over any of this today. Instead, here are some productive actions you can take to capitalize:

• Invest: if you see a big stock market swing or volatility on these debt headlines this week, be ready to capitalize. Remember, as we explained last week, in the short term watch for an RSI 30 or under as a buying opportunity and 70 or over as an indication to sell.

• Budget: Just because the U.S. Government can’t do it, doesn’t mean you can’t use it as a reminder to get your family’s budget in order while also teaching the kids (here is a free template).

• Manage Debt: If your kids are older, use the headlines to talk to them about debt and credit scores. Here is a 4 step process we created to help and also boost their credit score before they turn 18.

Economy

Get Ahead Of Corporate Layoffs

Dinner Discussion ❓

🥘 The Side Dishes

A few things to know…

🤖 The AI bubble market is here. Don’t believe us? Chip maker Nvidia reported earnings this past week and then talked up their future capabilities around AI (they make chips that power generative AI like the kind used in ChatGPT). The stock rose so fast the following day that it tacked on more value in 24 hours than the total current company worth of Nike.

👂 Is your phone listening to you? Yes, and here is a nice article on how to stop it. We also have some handy information on how to spot false advertising to help you teach your kids.

📱 Tell them to go play outside. Not like you needed more proof, but the Surgeon General this past week issued a report talking about all the negative effects social media has on kids.

🚘 Your car may not be safe. More than 2.5 million vehicles have been recalled by manufactures over the past couple weeks due to safety issues. If you know your VIN or license plate, check your car here.    

✈️ TSA PreCheck is now easier with kids. New rules this week allow teens aged 13-17 to accompany parents who have PreCheck even if they don’t.  

🗓️ The Week Ahead

May 29

Besides Memorial Day, today is also National 529 Day. For those looking to start a 529 plan for your kids, we have a handy guide and show you how to set one up.

June 1st

Today is Global Day of Parents. We doubt you will get any peace today, but it’s worth reminding your kids that today is all about celebrating you (hey, its worth a shot!).

June 2nd

Today we will get the May jobs report with experts projecting the US to have added +175K new jobs in May. All you need to know is that number below this would lead people to think the economy is softening (hence no reason to raise interest rates further) while a number above this would lead to some concern that interest rate hikes may not be done (JP Morgan CEO, Jamie Dimon, had some thoughts last week on this worth reading if interested)

🍨 Dessert

This Week’s Topic of Focus

Stock Market Basics For Kids And Parents

For beginners it’s not easy to know where to start when it comes to the stock market. In our ‘Topic of Focus’ this week we talk about the basics as well as give parents some pointers on how to get your kids started on a lifelong journey of investing.

Dinner Discussion ❓