How to Live to Be 103 And Not Regret It | Affinity Capital

July 6, 2021

I am fortunate enough in my practice to have multi-generational involvement in the lives of my clients. Being involved in many aspects of their lives brings many benefits – I am witness to births, weddings and in sadder instances, funerals. I help clients plan for payment of these events as well as college and retirement, and not necessarily in that order.

So when a client of mine was reporting about her 100-year-old Father and said, “Pops fell,” I was concerned. I asked how it happened, envisioning him prone in the middle of the night, perhaps pushing a button for help.  She answered, “at Pilates”. I know are you are right now imagining a 100-year-old Pilates student.  You would just have to know this man. In the interest of client confidentiality, I’ll call him Oliver. And I want you to know the secrets of his financial success as well as his personal achievements.

Oliver passed in 2015 at the age of 103.  He left a legacy of a loving family, a successful business and many friends and admirers.  He lived at home with minimal help.  He was a Father, Grandfather and Great Grandfather and very good friend. I know, you are still wondering how he did Pilates up until about 6 months before he passed.  You have to know more about this life to explain this and understand the elements that went into this remarkable man’s life.

Of course, I first knew him as a client for almost 30 years.  At a time when I very young and working hard to build my business, Oliver told me that he wanted to work with a woman because he trusted women more, that he felt that women were more open and so he could read them better.  This was and still is a wonderfully progressive way to view the professional world and built on the confidence I carried in myself.

Nothing happened to ensure his success like a family inheritance or Ivy League education.  He was by far not my wealthiest client but he planned well and listened to professionals.  He paid very close attention to his investments.  A story I like to tell is when we generated quarterly reporting, we would hold his out for extra review, because even when he reached an advanced age, if a decimal point was out or a cost basis off or a typo was present, Oliver would notice it.  I began writing market comments some time ago and when I found myself lacking time to make them a personal product and began to utilize statistics and third party information, Oliver, when asked, told me it was ‘turgid’.  Did I mention that he was honest?  But I took it to heart and began writing from my own heart and voice.

We reviewed his portfolio on a regular basis, and he was constantly curious about the decisions we made about the portfolio, how much risk he was really taking for his outcome and even why we had chosen specific investments. He was curious that way but also shrewd. He kept a consistent budget and we reviewed it in relation to his portfolio on a regular basis.

So how does one live like Oliver? How does one live honestly and authentically, plan well for retirement and enjoy life?  Obviously genes play a factor – Oliver has three children who are active and healthy, but they have also inherited his zest for life and an abiding passion for family, friends, and activities.

Paying attention very much impacted his financial plans.  Early on, before most people in my experience begin to plan for a long life, Oliver created a succession plan for his successful business that reflected the confidence he placed in his three children who to this day own, operate and participate in the business.  He gifted funds to his children, grandchildren, relatives. He was charitable and generous. He created trusts into which his assets would land both during his life and beyond. 

When I was starting my own business in 1995, I asked him for his advice and he told me to be certain to have funds to last for at least one year while I got on my feet.  He said to always send clients birthday cards and to acknowledge these events in their lives.  Yet when I asked him what he would do differently, he stated simply, “I would spend more time with my family”.  Now, this is not to say that he did not spend a great deal of time with his family because he did, by most measures, and most pointedly that of his family, but that at the end of a career and especially a life, one tends to reassess choices.  Does anyone listen to an 83-year-old man?  I did and the relationship that I now have with my 15 nieces and nephews (most are blood, all are heart) can be partly attributable to that one moment of openness, from a slight sharing that can make one pause and think about potential regret.

Aside from genes and good financial planning, what did Oliver do to ensure a rich and fruitful life? A lot of it is what we read on a daily basis – but who gets to be the 103-year-old beta tester for life?

He was mentally active and passionate about his interests. He did extensive genealogical research into his family going back generations and wrote many articles on the subject. He attended genealogy conferences and when he could not travel alone, his children gladly accompanied him. He did the daily crossword and Hot Sudoku – once obliterating my attempts at winning against him!

He had an interest in young people. His Grandchildren visited him frequently and he invariably recounted to me specific details about their lives.  One whistled a beautiful tune at his memorial service, because ‘Pops’ had taught him how to whistle as a child.

He had a sense of humor.  After his 100-year birthday party, which was attended by over three hundred people, my assistant apologized to him for not being able to attend and told him she would see him at the next one. He asked, “How do you know that?” She was taken aback, but to know Oliver was to understand that wry response.

We can all take and keep life lessons from this man- both to ensure financial success, but mostly personal!

A Choppy Week Defined by Geopolitics, Resilient Data, and a Tech Comeback

July 9, 2026
Markets navigated a volatile week as escalating tensions between the United States and Iran collided with encouraging domestic economic data and renewed enthusiasm for artificial intelligence-related names. The result was a market that whipsawed day to day but ultimately showed underlying resilience — and one we monitored closely on your behalf throughout the week. Equities: Volatile but Holding Up Major indices experienced sharp intraday swings this week. The Dow Jones Industrial Average fell as much as 1.1% in a single session, dropping over 855 points at its intraday low, while the S&P 500 and Nasdaq Composite showed more mixed results, with the tech-heavy Nasdaq finishing higher on strength in AI-related names. Later in the week, sentiment improved meaningfully as a resurgence in technology companies powered a broader rebound, with the Nasdaq 100 adding roughly 1% and semiconductor stocks climbing around 4%. Chip names whipsawed, having sold off sharply earlier in the week before staging a partial recovery. We continued to track these swings across portfolios throughout the week and saw no cause for reactive changes. Geopolitics Remains the Dominant Wildcard The renewed conflict between the U.S. and Iran was the week's central story, and one we are following closely for downstream portfolio effects. The United States launched fresh airstrikes against Iran, and Tehran responded by targeting Gulf-region interests, following a breakdown of the fragile ceasefire that had been in place. This escalation had an immediate and direct economic effect: energy markets. Crude oil prices spiked sharply, with U.S. benchmark crude rising over 4% and global benchmark crude rising over 5% in a single session, briefly rattling equity markets and lifting energy-sector shares while pressuring more rate-sensitive corners of the market. We noted markets showing a degree of "shock fatigue" as the week progressed, looking past the headlines, though we remain attentive to the possibility of renewed volatility in oil and safe-haven assets should the conflict widen further. The Economic Backdrop Remains Constructive Away from the geopolitical noise, we continue to see an underlying economic picture that supports a "soft landing" narrative. Weekly initial jobless claims came in at 215,000, a six-week low and below economist estimates, reinforcing continued labor market strength. This follows a broader trend we have been tracking: monthly job gains so far in 2026 have averaged roughly 92,000, well above last year's pace, even as wage growth of about 3.5% year-over-year has remained contained rather than accelerating. This combination, steady hiring without runaway wage pressure, is exactly the kind of environment we believe the Fed wants to see as it weighs its next move. On the Fed itself, minutes from the June FOMC meeting showed officials remain divided on the path forward for rates, with inflation data likely to be the deciding factor going forward. Markets currently assign only about a 28% probability to a rate hike at the July meeting, and we are positioning our outlook accordingly, expecting the Fed to largely stay on hold in the near term. What We're Monitoring on Your Behalf Heading into next week, we are closely tracking the June CPI release and Fed Chair testimony scheduled for mid-July, along with the unofficial kickoff of Q2 earnings season as major banks begin reporting. We view corporate earnings as an important test of whether the strong AI-driven capital spending narrative can translate into sustained profit growth, with Wall Street currently projecting Q2 S&P 500 earnings growth in the low-to-mid 20% range, disproportionately driven by AI-related capital expenditure. We will continue to assess how these developments intersect with account positioning and will reach out proactively if we believe adjustments are warranted. Our Perspective Weeks like this are a good reminder that headline-driven volatility and underlying economic fundamentals often tell different stories. While geopolitical developments can create short-term turbulence — particularly through the energy channel — we continue to view the domestic labor market and corporate earnings backdrop as constructive. We remain engaged and continually monitoring client accounts through periods like this, and our focus stays on long-term financial goals rather than reacting to day-to-day headlines. Please don't hesitate to reach out with any questions about how these developments may affect your individual financial plan.

Market Update: Inflation, AI, and the Road Ahead

June 25, 2026
Markets continue to navigate a mix of encouraging economic news and ongoing global uncertainty. While investors remain optimistic about the long-term outlook for the economy and corporate earnings, headlines from around the world continue to influence day-to-day trading. One of the biggest factors remains geopolitics. Although tensions in the Middle East have eased somewhat, investors are still watching developments closely because they can affect oil prices, inflation, and ultimately interest rates. Lower oil prices this week have helped calm some inflation concerns, which has been a positive for the broader market. Technology also remains in the spotlight. Strong earnings and continued investment in artificial intelligence have supported parts of the market, although investors are becoming more selective as valuations in some technology companies remain elevated. Looking ahead, markets will continue to focus on inflation data and the Federal Reserve's next steps. If inflation continues to moderate, it could provide support for stocks. However, unexpected developments overseas, changes in energy prices, or shifts in economic data could still create short-term volatility. While short-term market movements can be unsettling, they are a normal part of investing. Rather than reacting to daily headlines, we remain focused on building portfolios designed to weather changing market conditions and help you pursue your long-term financial objectives. Maintaining a disciplined, diversified investment strategy remains one of the most effective ways to navigate uncertainty. As always, if your financial situation or goals have changed, we're here to help ensure your plan continues to align with what matters most to you.

What We're Watching This June — Market Thoughts for You

June 1, 2026
As we turn the page to June, markets find themselves at a familiar crossroads: optimism tempered by uncertainty, momentum tested by macro headwinds. May closed on a constructive note, with equities finishing the month at or near all-time highs — a remarkable recovery from the turbulence that defined the early part of the year. The dominant theme of 2026 has been resilience in the face of disruption. From the tariff volatility of the first quarter to geopolitical shocks in the Middle East, investors have repeatedly demonstrated a willingness to look through near-term noise toward the fundamentals. That posture has been rewarded. The S&P 500 has returned over 10% year-to-date, driven in large part by an exceptional earnings season — first-quarter blended growth came in above 28%, the strongest pace in several years — and continued enthusiasm around artificial intelligence investment. Yet the risk landscape heading into summer is far from benign. The conflict in the Middle East remains the single most important variable in the macro calculus. Energy markets have been severely disrupted, with Brent crude up sharply on the year despite recent relief as hopes for a resolution in the Strait of Hormuz gained traction. Oil prices are not merely an energy story — they are a consumer story, an inflation story, and ultimately an interest rate story. A durable peace agreement could be a meaningful tailwind; a breakdown in talks, the opposite. The bond market deserves particular attention. One of the defining features of this cycle has been the breakdown of the traditional stock-bond diversification relationship. Since the onset of the Middle East conflict, long-duration Treasuries have failed to provide the ballast they historically offered during periods of equity stress. Sticky inflation, persistent fiscal deficits, and energy-driven price pressures have conspired to keep yields elevated. Investors relying on a classic 60/40 framework may find that the playbook requires updating looking into high quality corporates. On the monetary policy front, the transition at the Federal Reserve — from Chair Powell to Kevin Warsh — has so far been absorbed calmly, with equity and bond volatility both declining in recent sessions. The Fed's path remains data-dependent, and this week's jobs report will be closely watched. Consensus expects the unemployment rate to hold near 4.3%, consistent with a "low hire, low fire" labor market. More interesting may be the wage data: softening wage growth could constrain consumer spending at a moment when the personal savings rate is already under pressure. Globally, the picture is more nuanced than a simple risk-on or risk-off framing suggests. European equities outperformed in May, while the ECB is now actively signaling the possibility of rate hikes in June — a stark contrast to the easing cycle many had anticipated a year ago. Emerging markets have staged a meaningful recovery, supported by AI infrastructure spending and a softer U.S. dollar. The macro divergences between regions are as wide as they have been in years, and that creates both risk and opportunity depending on how portfolios are positioned. Seasonality is worth noting as well. June has historically been a challenging month for equities in midterm election years, and after a sharp rally off the March lows, some degree of consolidation would not be surprising. Markets rarely move in straight lines, and the conditions for short-term choppiness — elevated geopolitical risk, a pivotal central bank meeting in Europe, key economic data releases, and a VIX that has returned to complacency — are present. The bottom line: the fundamental backdrop remains broadly supportive, earnings momentum is intact, and long-term investors have been well-served by staying disciplined. But the risks are real and the range of outcomes is wide. In an environment where traditional hedges are less reliable and geopolitics can move markets overnight, diversification, quality, and a clear-eyed view of one's own time horizon matter more than ever. As always, we are here to discuss how these dynamics relate to your specific situation. Please do not hesitate to reach out.