Welcome to the 63rd edition of Your Weekly Aura (formerly known as The Weekly Rundown), a newsletter featuring must-read money and mindfulness tips and tricks from Courtney & Kelsey. This week, we’re talking about OUR BIRTHDAY and how we want to celebrate with our community. If you like the content in this newsletter, please share it with friends.
Happy Birthday, Aura!
Two years ago, we set out to do something radical.
We sought to build a transformative business with sound fundamentals that addressed both the emotional and practical components of personal finance.
When cash was flowing freely in Silicon Valley, pre-product founders could raise obscene amounts of money on absurd valuations.
Growth for the sake of growth was the name of the game. But not for us. As an ex-banker and lawyer operating in a highly regulated space, we doubled down on safety, security, and sound business practices.
It might not sound sexy, but we’ve built careers by betting on boring, and our bets are still paying off.
That’s because when it comes to investing, we want sound fundamentals, steady growth, and someone to hold our hand and tell us that everything is going to be okay.
It’s not just a coincidence that Financial Literacy Month (April) is followed by Mental Health Awareness Month. The two concepts are deeply entwined. That’s why we start with the basics of both: your relationship with money and your investing strategy.
Beliefs help us make sense of the world around us, they enable our brains to efficiently categorize and organize our ideas about how things can and should work. And when it comes to money, many of us have limiting beliefs that are holding us back.
I don’t deserve more money when others have so little.
I’ll never be able to afford to retire, I’m going to have to work until I die.
Money is the root of all evil.
You’re not going to change your relationship with money overnight, just like you’re not going to wake up a millionaire tomorrow.
Changing your beliefs is possible, but retraining your mind takes time – and so does growing wealth.
But you have time on your side.
As we go into our third year of being, we want to invite you to join us.
Do you feel called to explore your beliefs about money?
Are you tired of feeling like your bank account is a black hole where money disappears?
Can you imagine what it might feel like to wake up and be excited to check your bank account?
If you’re ready to take that first step – we’d love to support you.
Become a Founding Member and together, we’ll build the holistic, inclusive wealth management platform that we all deserve.
Sign up here to get early access to Aura.
Don’t want to wait? Sign up for our Free Mindful Money Management + Investing Workshop on Thursday at 12pm ET / 9am PT – we’d love to see you there.
For Your Aura
Want to learn more about your money story and discover your Aura? Take our quiz to find out your money personality today.
The Star: Americans are choosing lottery tickets and fortune tellers over financial planners.
The Thinker: Suffer from the Sunday Scaries? Try Bare Minimum Mondays.
The Empath: The mental health costs of the non-stop scam economy.
The Activist: Millennials hitting middle age: this isn’t what we thought it would look like.
Ask the Expert
What’s the difference between a Roth IRA and a Traditional IRA?
A Roth IRA and a Traditional IRA are both retirement accounts, but they differ in how they are taxed.
A Traditional IRA allows you to contribute pre-tax dollars, which means you get a tax break now, but you will have to pay taxes on your withdrawals in retirement. On the other hand, a Roth IRA is funded with after-tax dollars, which means you won’t get a tax break now, but your withdrawals in retirement will be tax-free.
Another key difference is when you pay taxes. With a Traditional IRA, you pay taxes when you withdraw money from the account in retirement. With a Roth IRA, you pay taxes up front, but then your withdrawals in retirement are tax-free.
In general, if you expect to be in a higher tax bracket in retirement, a Roth IRA might be a better choice. If you expect to be in a lower tax bracket in retirement, a Traditional IRA might be a better choice. It’s also important to consider your current tax situation and your retirement goals before deciding which type of IRA is right for you.
And remember, IRAs are not just about retiring and your future self. They are about loving your future self today AND lowering your taxable income.
↗️ Investigations. The SEC is probing First Republic Bank executives for insider trading.
↗️ Govt Buy-Backs. The Treasury Dept announced that it would repurchase US government debt next year for the first time in decades, in an effort to boost liquidity in the $23tn government bond market.
↘️ Stocks. Yesterday, the S&P 500 dropped 0.2%, and the Nasdaq Composite dipped 0.5%. The Dow Jones Industrial Average traded flat with a 0.02% gain.
↘️ Debt Ceiling Negotiations. The U.S. govt is weeks away from a historic default as McCarthy and Republicans continue to refuse to vote to increase the debt ceiling limit.
WE WANT TO HEAR FROM YOU!
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This material has been distributed for informational and educational purposes only, represents an assessment of the market environment as of the date of publication, is subject to change without notice, and is not intended as investment, legal, accounting, or tax advice or opinion. Aura assumes no obligation to provide notifications of changes in any factors that could affect the information provided. This information should not be relied upon by the reader as research or investment advice regarding any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective. This information is not intended as a recommendation to invest in any particular asset class or strategy or as a promise of future performance. There is no guarantee that any investment strategy will work under all market conditions or is suitable for all investors. Before investing, please carefully consider your willingness to take on risk and your financial ability to afford investment losses when deciding how much individual security exposure to have in your investment portfolio. Past performance does not guarantee future results. There is a potential for loss as well as gain in investing. Aura does not represent in any manner that the circumstances described herein will result in any particular outcome.
Aura provides some of the information in this newsletter under its Financial Counseling Service. The Financial Counseling Service is impersonal in nature, which means that the advice is not tailored to a Client’s, or group of Clients, individual needs and does not purport to meet the objectives or needs of specific Clients or accounts. Consequently, Aura does not rely on Suitability Questionnaire information that the Client inputs into the Platform to provide the Financial Counseling Service. The Financial Counseling Service is available to all Aura Clients. Consult with an accountant or financial advisor to find out if you’re optimizing legal tax optimization strategies