Carolyn Stewart

Gratitude at work: a valuable asset

Gratitude has no bounds; it can be practiced in someone’s personal life, in the classroom, and even in the workplace. Integrating gratitude and praise into a business culture can have many benefits such as creating a positive environment and strengthening relationships among team members.

While some people naturally have a spirit of gratitude, many of us must practice the art of sharing thanks on a daily basis. What if you incorporated the practice of gratitude in the workspace? In a family business, incorporating the practice of gratitude begins with modeling from the top, routinely acknowledging among one another, and, ultimately, enjoying the benefits.

Model gratitude from leadership

Like most new concepts, start from the top. Leaders within the company should consistently express appreciation, setting the tone for a culture of gratitude. It is important to personalize the acknowledgments, too. Be intentional when sharing praise and highlight specific efforts or achievements.

Routine acknowledgement

Incorporate gratitude into your day-to-day work life. At your next meeting, list “gratitude” as a running agenda item and allow teammates time to share. At first there might be hesitation to share openly, but you might be amazed once employees find freedom in sharing gratitude regularly. This routine will create a system in which team members acknowledge each other’s contributions and will promote a culture of mutual appreciation among everyone. If you work directly with clients, share gratitude with them, too.

What are the benfits of gratitude?

There are many benefits of practicing gratitude, especially in the workplace. Being grateful makes everyone feel better. Sharing gratitude improves well-being, reduces stress, builds patience and resilience–-all things we want for our employees and team members. By thanking others, team members acknowledge the positive impact others have on their work and lives. Of course, expressing appreciation lifts the spirits of those receiving the praise, too!

The power of gratitude

Try it! Build the practice of gratitude into your company’s mission and values. Your team and clients will notice the change gratitude plays in big decisions and daily interactions. The practice might take time but has the power to create a cohesive, motivated, and appreciative work environment for all.

Carman F. Young

Mary sat quietly on the sofa, tears welling up in her eyes. Bill, her husband of 46 years, died last week after a short illness, and Mary was overwhelmed by the prospect of life alone. I handed her a Kleenex and allowed her to share about feeling paralyzed around what to do next.

Unfortunately, this situation is not uncommon. As a financial advisor, I have the privilege of walking alongside my clients through life’s transitions, one of the most difficult being the death of a spouse. While each situation is unique, I recommend the following to a client who has just lost a spouse and is navigating a new life.

If possible, do not make any major financial decisions for at least a year.

Grief can feel like being in a fog. As a widow or widower, you will experience a cascade of emotions and feel disoriented for quite some time. If you can hold off on any big, irreversible decisions, it is best to wait until the dust has settled and you can think more clearly. Don’t immediately sell your house, purchase a vacation home, and start giving away lots of stuff. Take the time to process and begin thinking, when ready, about your future.

Review your cash flow and liquidity needs.

Prepare a list of your sources of income. This may include wages, social security, portfolio income, or a pension. Then, make a list of necessary expenses like mortgage or rent, home maintenance, utilities, groceries, gas, healthcare. Also, consider discretionary expenses, like recreation and entertainment, which are valuable investments in self-care during your grief journey.

Start to collect important documents and take notes during this transition period.

Create files for things like estate documents, tax documents, bills, and insurance. Also, take notes of any important conversations you have about financial matters. The fog you are in during the grieving process makes it difficult to remember conversations. Your brain is processing the trauma of losing the most important person in your life, and you simply can’t rely on your memory like you could in the past. Establishing an organizational system for important documents will be a worthwhile
investment of time and energy in the long-run.

Be aware of financial scams.

When you are newly widowed, it is normal to feel lonely and to be vulnerable. Unfortunately, ill-willed people who prey on vulnerable individuals do exist. Be vigilant about requests for money, whether it be from a charity or from someone posing as an employee of the IRS. Listen to your intuition, and do not hesitate to ask a trusted friend or advisor for a second opinion.

Remember that it is okay to feel adrift and insecure.

Grief is more tumultuous than it is linear. You will move forward, and then you will take steps backwards, all part of a process of settling into your new reality. Rely on friends and family to be a steady force and a voice of reason during this time.

There is life after loss.

Eighteen months after Bill died, Mary sat on the sofa in my office again, this time holding a photo album of a recent vacation she was excited to tell me about. Mary and Bill had gone on a themed cruise every year for 29 years until his death, and it was a highlight of their marriage. This year, Mary went back, and she took a girlfriend from college with her. She knew it would make Bill happy that she could still enjoy one of their favorite memories.

Losing a spouse is one of life’s hardest transitions, even if you knew it was coming, with the first year after losing a spouse being the most challenging. Life will never be the same, but you will not feel the way you do today forever. Be kind to yourself, take things slowly, and surround yourself with others who can support you during this time.

Ann J. Beckwith

In early April of this year, the S&P 500 briefly registered a 20% decline from its all-time high. In fact, if you blinked, you missed it. But it does still mean that we technically had a bear market this year. Is it over? We don’t have a crystal ball, but there are some things you can do to prepare for the next bear market.

Mike Switzer interviews investment advisor William Jeter.

William R. Jeter

With thousands of options to choose from, how can you decide which investment best suits the goals of your plan and portfolio? It’s easy to feel like a small boat searching for good fishing grounds in a vast ocean. To position yourself for the greatest odds of success, you need to go beyond just investment options and instead create a holistic portfolio management strategy.

What is a holistic portfolio strategy? A portfolio strategy is a series of activities that begins with identifying your financial goals and the environmental factors, develops guiding plans, and finally coordinates procedures and resources to accomplish the goals.

There are five key features of a portfolio management plan:

1. Have a financial plan that is being implemented: Without a financial plan, all you have is a bunch of ingredients without a recipe.

2. Have an investment philosophy:  A solid investment philosophy provides a multitude of benefits. Without a clear understanding of how you can generate returns, you may fall prey to every fad and end up incorporating so many different approaches that you create a portfolio that is not tax-efficient, cost-efficient, or aligned with your plan. 

For long-term investors, small-company and value stocks offer the potential for attractive risk-adjusted returns. It’s not just the logic that is appealing: for small-company stocks, it is investing in a great company as early as possible; for value stocks, paying less for a good business is better than paying more. Data on small and value stocks tells an interesting story for investors with the patience to invest in these areas. (Note that past results are for illustrative purposes only and do not imply anything about the future.)

3. Maximize the attributes associated with your account types: Different account types have different tax and withdrawal structures. By using sound investment location strategies, you can maximize your after-tax returns. Taxes are one item that you have complete control over in a portfolio. By not paying attention to sound portfolio tax strategies, you are ignoring a tool that can add meaningful value that you have total control over.

4. Have a system to ensure your portfolio is managed according to your plan: If you cannot execute, you cannot be successful. A good system gives you the ability to view and make changes to your portfolio at both the macro and micro levels.

5. Have a plan for market downturns: Long-term investors know that while market downturns are painful, they can also provide opportunities—from tax-loss harvesting to investment purchases. If you don’t have a drawdown plan, you may get caught up in the emotional stress of the situation instead of taking advantage of opportunities.

Creating a holistic portfolio involves formulating both a strategy and an execution framework. When done well, the holistic plan is a powerful force for building long-term wealth. Check with your financial advisor to make sure your portfolio and your financial plan are working together for you.

Charles B. Flowers

Maria was checking her email one night when she noticed a message from her bank: the bank had been hacked a few months prior and the hackers stole everyone’s passwords and personal information. In the email, the bank recommended requesting a credit report and freezing one’s credit. Maria had heard about credit freezes, but she didn’t understand why they were helpful or how to go about freezing her credit. After the relief of receiving her credit report and confirming that nothing was amiss, Maria’s mind went back to credit freezes: Do I still need to freeze my credit even though my credit report is clean? How does a credit freeze affect my ability to get credit?

Does this story sound familiar? Have you ever received an email from your bank, credit card company, or another organization disclosing hacks or warning about scams? Do you need a credit freeze, and, are you wondering about the process?

What is a credit freeze?

Credit freezes, also called security freezes, block access to your credit report. For example, if a hacker stole your personal information and went to open fraudulent accounts in your name, the creditor would not be able to access the required information on your credit report to approve the application. A credit freeze can prevent identity theft, even if a criminal has your birthdate and social security number.

Do I need a credit freeze?

The short answer is yes. Scams and hacking are bountiful in our technology-based society. The Federal Trade Commission has estimated that consumers lost over $10 billion to scams in 2023 and that 300,000 people reported their identity stolen in the third quarter of 2023 alone. These numbers will continue to rise as technology becomes more sophisticated. Credit freezes are a preventative measure; even if your credit report is clean now, implementing a credit freeze before your information is stolen can protect your identity, and, ultimately, your assets.

How do I freeze my credit?

Freezing your credit at all three bureaus (Equifax, Experian, and TransUnion) can easily done with a quick phone call or online and do not affect your credit score. A step-by-step guide for freezing your credit online at each bureau can be accessed here.

• Equifax: Call the automated line at 800-349-9960 or customer care at 888-298-0045
• Experian: Call 888‑397‑3742
• TransUnion: Call 800-916-8800

Credit freezes can be inconvenient in certain scenarios, such as when you apply for a credit card or buy a car because you’ll need to unfreeze your credit first (using the same numbers as above). The inconvenience is a small price to pay for peace of mind.

Carolyn A. Stewart

The Abacus investment team shares a deeper overview of current drivers of market volatility—tariffs, trade deficits, taxes, and deregulation—and explore possible scenarios for the markets, inflation, and the broader economy.

There’s a unique and increasingly popular way to manage your charitable giving that you may not have heard about. It’s called a Donor-Advised Fund. How does it work?

Mike Switzer interview Abacus advisor Anne Marie Ashworth.

Anne Marie E. Ashworth

Every year, it seems, there are new rules for retirement plans. And 2025 is no different.

Mike Switzer interviews Abacus investment advisor Stephen Scott.

Stephen “Scotty” J. Scott