Market Performance: March 15, 2024.

Stocks finished lower on Friday, notching a second consecutive losing week for Wall Street, as investors weighed the impact of hot inflation prints on the Federal Reserve's policy decision next week.

The S&P 500 (^GSPC) lost 0.7%, while the Dow Jones Industrial Average (^DJI) shed 0.5% or nearly 200 points. The tech-heavy Nasdaq Composite (^IXIC) decreased close to 1%. All three major indexes lost ground for the week.

Stocks slipped further after Thursday's losses, which came as another hotter-than-expected inflation report spooked investors into rethinking bets on a June interest rate cut. The report supported concerns that "sticky" inflation could be more difficult to tame than the Fed had expected.

Not having children ‘breaks’ traditional financial planning, says CFP—8 money rules for childfree people

If you don’t have children — and don’t plan on having any — the normal rules of personal finance don’t necessarily apply to you. That’s because people who meet that description, known as childfree people, don’t need to build generational wealth, says Jay Zigmont, a certified financial planner and author of “Portraits of Childfree Wealth.” That renders much of the standard advice you hear from financial experts like Dave Ramsey moot.

Under the traditional models of financial planning, you’re told to keep “running it up” in order to pass along your wealth to your children, Zigmont says. Without that variable in play, childfree people are free to spend or donate every dime they make before they die in order to maximize their happiness.

1 - 3: Build a financial foundation

The first three steps, Zigmont says, are what he’d prescribe whether you had a child or not. He recommends starting with the following: 1. Create a starter emergency fund 2. Get out of debt 3. Build a 3- to 6-month emergency fund

For a starter emergency fund, Zigmont recommends socking away enough cash to cover about a month’s worth of expenses, which gives you a cushion as you move on to step two: getting yourself out of debt. “When you’re deep in debt, you’ve deferred maintenance on you, your car, your house, everything,” Zigmont says. When those expenses continue to crop up, you’d rather pay out of your emergency fund than fall deeper into debt.

Save and invest toward your goals

This is where Zigmont says his advice “takes a hard right turn” from traditional advice. Even though people with children are also saving and investing, childfree people may have very different landmarks. After all, there’s no child care to pay for, no college to save for, no inheritance to leave.

Get your insurance right

Being childfree makes having some types of insurance more important than others. If you have children, for example, many financial pros recommend some form of term life insurance to cover your family in the event of your death.

Be proactive about estate planning

Financial advisors will tell you that just about everyone needs an estate plan, which directs the people in your life how you want financial and medical decisions handled in the case of your death or incapacitation.

Law Firm Marketing Tactics For Business Building In 2024

The legal industry is more competitive than ever, requiring law firms to leverage a blend of advanced technology and refined marketing tactics to stay ahead. A blend of SEO tactics to improve organic visibility and PPC advertising to target high-intent audiences can give you the edge.

Modern marketing strategies require personalized approaches that resonate with clients and potential audiences. A mix of strategies can put your law firm in front of the right people at the right time.

Develop A Comprehensive Marketing Calendar

A well-planned marketing calendar is essential for law firms to strategically organize and schedule their marketing activities throughout the year. By mapping out campaigns, budgets, and key dates in advance, law firms can avoid ad-hoc marketing efforts and ensure a consistent and sustained approach. This proactive strategy enables firms to align marketing efforts with business objectives and key dates in the legal calendar, providing a framework for systematic progress and evaluation.

Embrace Digital Marketing

A robust online presence is indispensable for law firms. This involves leveraging SEO to enhance search engine visibility, engaging in content marketing to provide value and establish authority, and utilizing social media platforms to connect with and expand the client base.

Personalize Marketing Efforts

Personalization in marketing is about understanding and addressing the specific needs and interests of potential clients. Tailored messaging that resonates with a client’s unique legal situation enhances engagement and conversion rates. This involves creating content and marketing materials that speak directly to the concerns and questions of your target audience, making them feel seen and understood, thereby fostering trust and loyalty.

Implement Google Local Service Ads (LSAs)

Google Local Service Ads (LSAs) are a cost-effective way for your law firm to connect with local clients. The pay-per-lead model ensures that your firm only spends on ads that directly result in client contact.

Implement And Use Google Analytics 4

To gauge the effectiveness of marketing strategies, your law firm must employ analytics tools. Google Analytics 4 (GA4) is a free software that provides detailed insights into how your law firm’s website performs. GA4 makes it easy for your law firm to understand how users navigate their website, including which pages are most visited, where users drop off, and the paths users take.

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