May 2026
Monthly Wealth Insights
A Personal Note from Chris
Hey everyone,
As we approach Memorial Day weekend, I find myself thinking about legacy — the things we leave behind, the values we pass on, and the sacrifices others have made so we can build the lives we want for ourselves and our families.
This month's newsletter is a bit different. After April's strong market recovery, I want to share some perspective on where we stand, update you on the ongoing Iran situation, and tackle two important planning topics: summer vacation budgeting and estate planning. The latter feels especially fitting as we honor those who served and think about the legacies we're building.
Memorial Day is about remembrance, but it's also about gratitude for the freedoms we enjoy — including the freedom to plan our financial futures and provide for the people we love.
As always, I'm here if you want to talk.
With gratitude,
Chris
Market Snapshot: April's Strong Recovery
After March's volatility, April delivered exactly the kind of recovery we anticipated. Markets rallied strongly, with all three major indices posting their best monthly performance since 2020. Here's how April closed:
The S&P 500 closed above 7,200 for the first time ever on April 30, capping off the index's strongest month in more than four years. The Nasdaq's 15% gain was its best monthly performance since April 2020, driven by strong earnings from tech giants and optimism about easing geopolitical tensions.
What fueled the rally? Three key factors: strong corporate earnings (73% of companies beat estimates), progress toward Iran peace talks (more on this below), and resilient economic fundamentals despite elevated energy prices.
Here's what this confirms: markets recover. March tested our patience with a 5% pullback. April rewarded discipline with a 10% gain. This is exactly why we don't panic-sell during volatile months — you miss the recovery.
Iran Peace Talks: A Fragile Truce
Progress, But Uncertainty Remains
The Iran situation continues to evolve. A ceasefire that began in early April remains in place, but it's fragile. Pakistani mediators are working around the clock to broker a lasting peace agreement, with talks focusing on reopening the Strait of Hormuz, Iran's nuclear program, and long-term security guarantees.
Oil prices, which spiked above $110 per barrel in March, have fallen back to around $100-107 as hopes for a peace deal have improved. That's good news for inflation and gas prices, though we're not out of the woods yet. The Strait of Hormuz — through which roughly 20% of the world's oil passes — remains partially closed.
What's Happening Now:
- Ceasefire Extended: The initial two-week ceasefire has been extended multiple times as negotiations continue
- Peace Talks in Pakistan: U.S. and Iranian officials are meeting through Pakistani mediators in Islamabad
- Key Sticking Points: Iran's nuclear program, control of the Strait of Hormuz, and sanctions relief remain contentious
- Market Impact: Each positive headline about peace talks has pushed oil prices lower and stocks higher
The situation is fluid, and setbacks are possible. But the direction is encouraging. Both sides seem motivated to reach a deal, even if the path forward remains uncertain.
What this means for your portfolio: We're continuing to monitor energy exposure and inflation data closely. If peace talks succeed and the Strait reopens, we could see further relief in gas prices and a boost to consumer spending. If talks stall, energy prices could spike again. Either way, your diversified portfolio is positioned to handle both scenarios.
Summer Vacation Budgeting
Enjoy Your Time Off Without Financial Stress
Memorial Day kicks off summer travel season, and I know many of you are planning trips. With gas prices still elevated and inflation lingering, smart vacation budgeting matters more than ever.
The 1% Vacation Rule (Refresher)
For every $100,000 in your investment portfolio, budget about $1,000 annually for vacations. A $500,000 portfolio? Plan for around $5,000 in vacation spending per year. This keeps travel affordable without impacting your long-term goals.
Gas Price Reality Check
With gas hovering around $4.30-$4.40 per gallon nationally (and higher in some states), road trips are more expensive than last summer. If you're driving, budget an extra 25-30% for fuel compared to 2025. That 500-mile beach trip? Expect to spend $150-200 on gas round-trip instead of $100-120.
Book Early, Save Big
Summer travel demand is high this year as people make up for skipped trips during the spring volatility. Hotels and flights booked 6-8 weeks in advance typically cost 20-30% less than last-minute bookings. If you haven't booked July or August travel yet, do it now.
Credit Card Strategy
Use a rewards credit card for travel purchases to earn points, but — and this is critical — pay it off in full when the bill comes. Carrying a balance at 18-22% interest rates wipes out any rewards you earned and then some.
The Summer Sinking Fund
If summer spending tends to blow your budget, set up a dedicated "summer fund" account. Transfer a set amount each month (say, $300-500) so when June, July, and August roll around, the money's already there. No guilt, no credit card debt.
Estate Planning: Your Legacy Matters
Memorial Day Reflections on What We Leave Behind
Memorial Day reminds us that life is precious and uncertain. While we honor those who gave their lives in service, it's also a good time to think about our own legacies — what we're building for our families and how we want to be remembered.
Estate planning isn't just for the wealthy. If you have a family, own a home, have retirement accounts, or care about who gets your assets when you're gone, you need an estate plan. Period.
The Essential Documents
At a minimum, you need these four documents:
- Will: Specifies who gets your assets and who becomes guardian of minor children
- Power of Attorney: Names someone to make financial decisions if you're incapacitated
- Healthcare Directive: Specifies your medical wishes and names someone to make healthcare decisions
- Beneficiary Designations: On retirement accounts, life insurance, and bank accounts
When to Consider a Trust
Trusts aren't just for the ultra-wealthy. Consider a revocable living trust if:
- You own property in multiple states (avoids probate in each state)
- You have minor children and want assets managed until they're adults
- You value privacy (trusts avoid public probate proceedings)
- You have a blended family with complex distribution wishes
- You own a business and want a smooth transition plan
Beneficiary Review (Yes, Again)
I keep bringing this up because it's that important. Your beneficiary designations on retirement accounts and life insurance override your will. If your ex-spouse is still listed on your 401(k) and you die, they get the money — even if your will says otherwise.
When to update beneficiaries: marriage, divorce, birth of a child, death of a beneficiary, or significant life changes.
Life Insurance Needs
Do you have enough life insurance? A good rule of thumb: 10-12 times your annual income if you have dependents. If you earn $100,000 and have young kids, you probably need $1-1.2 million in coverage. Term life insurance is affordable and gets the job done for most people.
Digital Assets Matter Too
Don't forget about digital assets: online accounts, cryptocurrency, photo libraries, social media. Make sure someone knows how to access these and has your permission to do so. Include digital asset instructions in your estate plan.
Talk to Your Family
The hardest part of estate planning isn't the paperwork — it's the conversations. Talk to your spouse about your wishes. If you have adult children, let them know where your documents are and who your executor is. These conversations are uncomfortable but necessary.
Memorial Day is about honoring those who sacrificed for our freedom. One way to honor that legacy is to take responsibility for our own — making sure the people we love are protected and provided for when we're gone.
A Final Thought
This Memorial Day weekend, take time to honor those who served. Spend time with family. Enjoy the long weekend. And maybe — just maybe — have that estate planning conversation you've been putting off.
Legacy isn't just about the money we leave behind. It's about the values we pass on, the security we provide, and the peace of mind we give to the people we love.
Markets will continue to fluctuate. Geopolitical events will create uncertainty. But the fundamentals of good financial planning remain constant: live within your means, plan for the future, protect the people you love, and stay disciplined through the ups and downs.
Here's to a safe and meaningful Memorial Day weekend.
Disclaimer: This newsletter is for informational purposes only and should not be considered personalized investment advice. Past performance does not guarantee future results. All investments involve risk, and investors should carefully consider their financial situation and goals before making any investment decisions.
Investment Advisor services offered through Compass Advisory Partners, LLC (CAP) and Csenge Advisory Group, LLC (CAG), Registered Investment Advisors, dba Wakefield Venture Group.