Jimmy J. Williams, CPA/PFS, CFP®
Wishes for 2022
A new year is beginning and you are going to maximize your opportunities, eliminate your dangers and improve your strengths. That is how every year starts, right? For your 2022 year, I wish you many happy days with few struggles (unless its your fitness goal which requires some struggle).
This first wish is one that will make you very happy – lower inflation. One of the most difficult financial concepts to understand is inflation. This factor impacts every facet of consumer living – groceries, gasoline, clothing, travel, etc. Based on reports from the U.S. Bureau of Labor Statistics, the current inflation rate in the United States is 6.8% in November, 2021. The U.S. dollar buys less with inflation continuing to rise.
For example, gasoline prices are up 58.1% over the past twelve months. This increase costs far more for workers to commute to and from work and demands more from the family budget. Groceries also increased 6.4% over the past year according to CNBC. Home energy costs have risen 12.2% over the past year. The combination of the increases has caused significant demands on the budgets of families.
Better health and exercise success for 2022. According to Statista.com, medical costs in the United States has risen 7% in 2021 and projected to rise another 6.5% in 2022. One of the best methods of saving your hard-earned dollars on medical care is to change your lifestyle to include more exercise and movement. Another strategy is to review your Medicare Part B plan and determine if you are utilizing the plan effectively. Lastly, consider buying your pharmaceuticals in bulk through mail order to save on prescription costs.
Since genies on TV only grant three wishes, I will continue the precedent. My last wish for you in 2022 is peace in your world. I used the “peace in your world” statement to empower you to control those things and activities in life that give you the most peace. Admittedly, we cannot control all things in the world that contribute to lasting peace. However, our mindset and attitude are two of the most peace-creating areas of life that we have ultimate control. Don’t allow others to steal your joy; conversely, instill joy in those around you to create the types of people with which you wish to interact.
The world is neither good nor bad outside your person, it is only as you desire it be within your person. Find a means of peace within yourself and you will discover more peace in the world. You will attract people in your life that give you a greater sense of fulfillment and happiness. For them, you will be a consistent source of joy that refills their tanks of challenge on a daily basis. It is time to truly work on world peace, starting with us – you and me.
Many of us have plenty to be grateful for this new year. “If you are breathing, you have time to change,” is one of my favorite paraphrased statements by Jim Rohn. Begin your year with hope, happiness and health. The rest of the benefits will be added to you as the days progress.
Happy New Year to all of our subscribers and readers! It is an honor to share information, life stories and humorous moments with you each week. My goal for 2022 is to instill in each of you the powerfully positive message that YOU ARE THE PEACE THE WORLD NEEDS NOW!
Registered Principal, Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Jimmy J. Williams is an Investment Advisor Representative of Compass Capital Management, LLC, a Registered Investment Advisor. Cambridge and Compass Capital Management, LLC are not affiliated. 321 S. 3rd, Ste. 4, McAlester, OK 74501.