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!

The Fed Holds Rates: What It Means for Investors

By Ashley Cowan • July 30, 2026
The Federal Reserve concluded its meeting by leaving short-term interest rates unchanged at 3.50% to 3.75%. The decision was widely anticipated and reflects the Fed’s continued effort to balance slowing inflation with an economy that remains remarkably resilient. The economic data released today helps explain that decision. The U.S. economy expanded during the second quarter, although at a more moderate pace than earlier in the year. While the headline growth rate slowed, the underlying picture remains encouraging. Consumer spending continued to be a significant driver of economic activity, businesses are still investing, and the labor market has remained healthy. Much of the slower overall growth appears to reflect temporary factors rather than a broad weakening of the economy. Inflation also continued to move in the right direction. Price pressures have eased considerably from their peak, although inflation remains above the Federal Reserve’s long-term target. That leaves policymakers in a position where they can afford to be patient while continuing to evaluate incoming economic data. Taken together, these developments suggest the economy is transitioning toward a more sustainable pace of growth rather than falling into recession. While risks remain, particularly from geopolitical events, government policy, and persistent inflation in certain sectors, the overall economic backdrop continues to be relatively constructive. For investors, this environment is likely to produce periods of market volatility. Financial markets constantly reassess expectations for interest rates, inflation, corporate earnings, and economic growth. Each new report has the potential to shift those expectations, resulting in short-term market swings. That is why it is important not to overreact to any single Federal Reserve meeting or economic report. History has repeatedly demonstrated that successful investing is built on discipline rather than prediction. Markets will always experience periods of uncertainty, but long-term investment success comes from maintaining a diversified portfolio that is aligned with your financial goals, risk tolerance, and time horizon. While today’s economic reports offer additional insight into where the economy may be headed, they do not change our investment philosophy. We continue to evaluate the broader economic environment, corporate earnings, valuations, and long-term trends rather than focusing on short-term headlines. The economy has slowed from the exceptionally strong pace of the past several years, but it continues to demonstrate resilience. Inflation has improved, interest rates remain restrictive, and the Federal Reserve has the flexibility to respond as new information becomes available. Those are all positive developments for investors seeking a more stable economic environment. As always, we will continue to monitor economic developments carefully and make thoughtful portfolio decisions when warranted. Our focus remains on helping clients achieve their long-term financial objectives, regardless of the latest headlines.

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.