The Family Firm Blog

Stephen Daly

Stephen Daly

Recent Posts

Global Economic Growth

Posted by Stephen Daly on 1/11/18 1:05 PM

For the first time since the onset of the Great Recession, all 45 countries tracked by the Organization for Economic Co-operation and Development (OECD) showed positive annual GDP growth in 2017. 

This synchronized global growth is certainly good news for the global economy but will it be good for equity returns?  Economic growth doesn't always result in good stock market returns, but over longer periods of time the two are positively correlated. 

You can read more about the OECD's report by clicking here.

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US Factory Growth Highest Since 2015

Posted by Stephen Daly on 1/4/18 2:50 PM

The output of US manufacturers increased at a substantial pace in December of 2017 with growth reaching an 11 month high.

Manufacturers attributed the increased demand to both new and existing domestic customoers with realtively flat demand on export sales.

US based manufactures also noted that the cost of their inputs had increased and that they had been adding to their firm's payrolls.

It is still to early to see if this is part of a longer term trend and if the increased cost of inputs and additional staff finally lead to a pick up in the overall llevel of inflation.


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The Family Firm Co-Sponsors Taste of Bethesda

Posted by Stephen Daly on 10/17/17 12:38 PM

The Family Firm co-sponsored the 2017 Taste of Bethesda festival which drew over 30,000 attendees to Woodmont Triangle in Bethesda.

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Protecting Your Credit Record

Posted by Stephen Daly on 9/11/17 10:57 AM

As you have likely heard, Equifax, one of the nation’s three main credit reporting agencies, announced last week it was the victim of a major hack that exposed the personal information of at least 143 million Americans.  Hackers were able to gain access to consumers’ names, Social Security numbers, birth dates, addresses and, in some cases, driver’s license and credit card numbers. 

Here are some steps you can take to protect yourself given the recent events: 

  1. Consider putting a credit freeze on your record at all three of the credit reporting agencies.  For a small fee, you can “freeze” your records from being accessed by anyone. This will prevent anyone from being able to open a credit in your name and is the most effective tool at preventing credit fraud.  There is no impact on the use of your existing credit cards and other lines of credit when a freeze is in place. 

Here are the links for each credit reporting agency on how to put a freeze on your account:

  1. Sign up for a credit monitoring service.  Credit monitoring will not prevent criminals from fraudulently opening accounts in your name but it will allow you to monitor your credit for unauthorized activity.  Equifax has offered one year of monitoring for free for all Americans.  They have also clarified that signing up for this service will not exclude you from being able to participate in a class action law suit in the future.  Credit Karma and Capital One’s Credit Wise are other free services that are available. 
  1. Request a free copy of your credit report from and check for any activity you don’t recognize.  You are entitled to one report per bureau annually so one strategy is to request a credit report from one of the three bureaus every 4 months. 
  1. Closely monitor your credit card statements for unusual activity. 
  1. Be especially vigilant regarding scams in upcoming months: 
  1. Add two-factor authentication to your online access to your bank and Schwab.  Two factor authentication, as well as voice ID, can be added to your Schwab account by contacting Schwab Alliance at 1-800-515-2157. 

More information on how to protect yourself can be found at:

Please contact your financial advisor with further questions and concerns.

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Get back an hour or two of your weekend by having Instacart do your grocery shopping.

Posted by Stephen Daly on 9/1/17 12:00 PM

Had enough of the weekly ritual of facing long check-out lines, waiting for parking, and dodging foot traffic while doing your grocery shopping at Whole Foods?  Skip it all by using Instacart and have your groceries delivered to you in as little as under an hour and for only $5.99. (available throughout the Metro DC area including in Bethesda, Silver Spring, Chevy Chase, Washington DC, McLean and Herndon)

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Want to Be Happy? Buy More Takeout and Hire a Maid

Posted by Stephen Daly on 7/19/17 2:50 PM

The National Academy of Sciences recently released a study showing that individuals that spent money on time saving services reported having greater life satisfaction.  The researchers surveyed individuals in the US and in Europe and found that although levels of wealth are increasing, that it is coming with a cost: increased demands on people’s time.  The study found that participants reported feeling happier after spending money on time saving purchases such ordering takeout food than they did on material purchases such as clothing.  So if you have some cash burning a hole in your pocket, think about hiring a maid and treating yourself to a nice run outside or some quality time on the couch!

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What We're Watching

Posted by Stephen Daly on 6/26/17 3:54 PM

We all know that terrible feeling that occurs after you have watched the series finale of your most recent favorite show.  Now what to watch?!  Is there anything else out there that can replace it? We have all been there, read on for a few suggestions from The Family Firm staff and see if any of our recommendations tickle your fancy.

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The Family Firm Hosts Lunch & Learn Event

Posted by Stephen Daly on 6/20/17 6:26 PM

“Be a student as long as you still have something to learn and this will mean all your life.”
Henry L. Doherty

On June 13th, The Family Firm hosted a “Lunch & Learn” event at the Capital Grille in Chevy Chase.  The event featured a panel discussion on the lifetime learning opportunities that are available for clients in the Washington DC area and also on the internet.  The Panelists included: Fredie Adelman, Director of Smithsonian Associates, Anne Wallace, Executive Director of the Osher Lifelong Learning Institute (OLLI) at American University and Nate Gendelman, President of The Family Firm.

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Why a CERTIFIED FINANCIAL PLANNER™ (CFP®) should be part of your financial planning team.

Posted by Stephen Daly on 5/30/17 5:28 PM

The Family Firm is a leading financial planning firm in Bethesda with eight CFP® professionals on staff and a collective 110 years of industry experience! Click here to learn more about our CFP® professionals.

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What We’re Reading

Posted by Stephen Daly on 1/31/17 5:07 PM

A popular item with many of our clients are updates on what the staff at the Family Firm have been reading. As you will see, our collective interests go well beyond the realm of finance and financial planning!

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