October 2023 Financial Bullet Points

Written by Bob Barber

The Bullet Points for October are:

1. The Stock markets are getting emotional again like a crying baby since the Federal Reserve indicated in its last meeting they would raise interest rates again before the year’s end and possibly keep them stubbornly high longer than expected. This is being caused by Inflation rearing its ugly head in the last few months, mainly in energy prices.
2. According to recent data from the US Department of Commerce released in the last week of September, the US housing market experienced a setback again in August as new home sales fell by 8.7% while the estimated decline was expected to be 2.2%, suggesting much more of a significant decline than initially anticipated. This plays right into the warning I have been giving for over a year that residential real estate is set for a significant decline. I am still amazed at the number of homes approaching 300 plus days on the market in my hometown of New Braunfels, one of the fastest-growing cities in the United States.
3. August and September were typical months for the markets, with a significant pullback from July’s highs. Let’s all hope for a typical year-end rally in the 4th quarter. The economy is showing a few cracks from interest rates returning to normal, but it is still strong. In the meantime, September provided us with some excellent buying opportunities we took advantage of for the long run.
4. Savers are knocking it out of the park these days with interest rates not seen in years for Bonds, CDs, money markets, and savings accounts. We are still offering FDIC Bank CDs in the **5.5% range, and our ultra-conservative fixed-income managed portfolio is holding bonds and bank notes paying 4.5-8.3% interest rates—these same bonds are also being used for the fixed-income portion of our conservative, moderate, and growth portfolios
   **Our Bank CD minimum is $50,000, and there is a one-time account opening admin charge of 0.3%.
5. We are now offering free banking services through Schwab Bank Investor Checking™ for clients of Christian Financial Advisors^®. The advantages are unlimited ATM fee rebates using the Schwab Bank Visa® Platinum Debit Card for getting cash at any ATM nationwide, same-day cash from brokerage to checking, $0 monthly service fees, $0 account minimum, free standard checks, overdraft protection, free online bill pay or pay through the Schwab mobile app, remote check deposit from anywhere using the Schwab Mobile App and complimentary transfers to accounts at other U.S. financial institutions. Contact us for more information on how to open a Schwab Bank Investor Checking™ account with all these benefits.
6. Get educated. This month’s programs for Christian Financial Perspectives are:
   • Ten Ways to Sabotage an Investment Portfolio (Oct 3rd)
   • What God’s Word Says About Money Part One (Oct 10th)
   • What God’s Word Says About Money Part Two (Oct 17th)
   • Why Traders are NOT Investors (Oct 24th)
   • 6 Ways Financial Advisors are Paid (Oct 31st)
     Can’t watch it on YouTube? You can listen on any smartphone while driving, cooking, gardening, or taking daily walks through almost any podcast platform, any time of the day by searching for Christian Financial Perspectives.
     Visit our channel: www.cfa.lc/yt

Until next time, we hope you have a wonderful October! That’s all for now.

If you would like further explanation of any of the bullet points mentioned, please call or text (830) 609-6986 during business hours or email us by clicking here.

Bob Barber, Founder & Owner
Christian Financial Advisors^®