News from the Home Team

The Real Questions

If you look at the websites or newsletters of many financial firms, you will find a lot of beautiful, vague language. They talk about "partnering with you on your financial journey," helping you "navigate retirement crossroads," or acting as an "elite, boutique wealth manager."

Let’s be completely honest: nobody actually talks like that in real life…or at least very few people do.

When you are lying awake at 2:00 a.m. thinking about your money, you aren’t thinking about abstract "journeys." Your mind is whirling with concrete, high-stakes questions about your security:

• "Am I going to run out of money before I die?"
• "When can I actually walk away from my job for good?"
• "What happens if the government lets the Social Security trust fund run down?"
• "If something happens to me tomorrow, is my spouse going to be okay?"
• "Am I paying too much in taxes on my investments?"
• “Which accounts do I withdraw from when I retire?”
• “My neighbor told me about a Roth conversion, is that something I should be doing?”

Our job isn't to hand you a glossy brochure or a 90-page binder of colorful charts as a comfort blanket. Our job is to learn about you, what you need, what keeps you awake at night, and build a strategic investment plan to tackle those worries. Oops…jargon alert!

Strategic investment plan simply means building a long-term game plan for your money, sticking to it, and not letting the nightly news interfere. Instead of trying to guess where the market is going tomorrow—which is a stressful game that even the professionals lose—a strategic plan focuses on the things we can actually control. It breaks down into four basics:

The Four Basics of a "Strategic" Plan

• Deciding Your Mix (Asset Allocation): This is the foundation. It just means deciding how much of your money goes into different "buckets"—like stocks (which grow your money but can be a bumpy ride) and bonds (which are quieter and provide more stability). If you need your money in five years, your mix will look very different than if you don't need it for twenty.
• Keeping Cash for the Short Term: Whether your cash reserves are held with us or at your bank, maintaining a liquid cushion serves two purposes: it covers immediate living expenses, and it ensures that if life throws a curveball—or the market takes a sudden dive—there is no need to sell long-term investments to bridge the gap. The right amount varies based on personal circumstances—working clients can feel secure with a few months of expenses, while retirees tend to prefer a larger, multi-year cushion. Wherever that cash lives, utilizing money market funds can be a smart move because they keep the money liquid while typically earning a higher interest rate than a bank savings account.
• Ignoring the Daily Noise: The financial news cycle is designed to generate panic because panic gets clicks. A strategic approach means not rewriting your entire plan because of a bad headline or a temporary market downturn. Nobody has a crystal ball when it comes to the stock market, and keeping an eye on what is going on in the world is necessary. But navigating these events responsibly means focusing on what we can control: using quality investments, relying on experienced managers, and diversifying investments to help manage risk over the long haul.
• Resetting the Scales (Rebalancing): Over time, some investments grow faster than others, which throws off your original mix. If your plan says you should have 60% stocks and 40% bonds, a great year in the market might accidentally push your stocks up to 70%. Strategic management means occasionally selling a little bit of what did well and buying what lagged behind to get you back to your 60/40 target.

It is a disciplined, boring-on-purpose approach. But boring is how you protect what you've built, and it's how we help you look at that list of late-night worries and finally get a good night's sleep.

If any of those questions have been crossing your mind recently, call us, email us, or bring them to our next conversation. We’re right here, and we're ready to talk about what actually matters to you.

Market Insights

Cambridge’s monthly market insights break down the latest economic trends, inflation data, and policy shifts shaping today’s investment landscape.

Week in Review

Last week’s macro releases pointed to a resilient but slightly moderating economic backdrop. U.S. crude oil inventories recorded a sharp draw of -7.86 million barrels, well below expectations of roughly -2.5 million (prior: -4.3 million), indicating stronger demand and providing modest upward pressure on energy prices and inflation expectations. The Federal Open Market Committee (FOMC) meeting minutes reinforced a cautious, data-dependent stance, with policymakers signaling persistent inflation risks and little urgency to ease policy, supporting a higher-for-longer rate environment.

On activity data, Purchasing Managers’ Indexes (PMIs) were mixed but still constructive. Manufacturing surprised to the upside at 55.3 versus 53.8 expected, reflecting strong expansion in the industrial sector. In contrast, the Services PMI came in at 50.9 versus 51.1 expected, indicating continued expansion but modest cooling in momentum rather than outright weakness. This suggests some normalization in services demand while overall activity remains in growth territory.

Labor market conditions remain stable, with jobless claims continuing to track near low levels, consistent with a still-tight labor market and limited signs of deterioration.

Overall, the data reinforces a resilient growth environment with pockets of moderation, where strong manufacturing and firm labor conditions offset softer (but still expanding) services activity. Combined with tighter energy markets and a cautious Fed, this keeps inflation risks tilted to the upside, likely sustaining elevated rate expectations, upward pressure on yields, and a selective equity backdrop.

Economic and Capital Markets Dashboard

Week Ahead

Looking ahead, the upcoming week is shortened due to the Memorial Day holiday but still features several key data releases that will help shape the near-term economic narrative.

Tuesday brings Consumer Confidence, which previously came in around 92.8, providing a benchmark for household sentiment and spending resilience. A stable or improving reading would reinforce the strength of the consumer as a key growth driver.

Wednesday features New Home Sales, following a prior release that showed a moderate pace of activity. This will be important in assessing how housing demand is holding up amid elevated rates and affordability pressures.

Thursday is the busiest day, with GDP (second estimate) and Personal Consumption Expenditures (PCE) inflation both released. The initial GDP reading showed softer growth, so this update will help confirm whether that weakness persists or stabilizes. At the same time, PCE will provide an updated read on inflation trends, which remain central to the Fed’s policy outlook.

Friday includes the Chicago PMI, which previously reflected modest business activity conditions. This release will serve as a timely check on manufacturing momentum and broader economic activity.

Meanwhile, crude oil inventories, which recently posted a sizable draw, will remain important for gauging supply-demand dynamics and their implications for energy prices and inflation.

Overall, these releases will help refine the market’s view on growth durability and inflation persistence, both of which remain key drivers of the rate outlook.

Disclosures and Definitions

Economic Indicators:

1. CPI: Consumer Price Index measures the average change in prices paid by consumers for goods and services over time. Source: Bureau of Labor Statistics.
2. Core CPI: Core Consumer Price Index excludes food and energy prices to provide a clearer picture of long-term inflation trends. Source: Bureau of Labor Statistics.
3. PPI: Producer Price Index measures the average change in selling prices received by domestic producers for their output. Source: Bureau of Labor Statistics.
4. Core PPI: Core Producer Price Index excludes food and energy prices to provide a clearer picture of long-term inflation trends. Source: Bureau of Labor Statistics.
5. PCE: Personal Consumption Expenditures measure the average change in prices paid by consumers for goods and services. Source: Bureau of Economic Analysis.
6. Core PCE: Core Personal Consumption Expenditures exclude food and energy prices to provide a clearer picture of long-term inflation trends. Source: Bureau of Economic Analysis.
7. Industrial Production: Measures the output of the industrial sector, including manufacturing, mining, and utilities. Source: Federal Reserve.
8. Mfg New Orders: Measures the value of new orders placed with manufacturers for durable and non-durable goods. Source: Census Bureau.
9. Durable New Orders: Measures the value of new orders placed with manufacturers of durable goods. Source: Census Bureau.
10. Durable Inventories: Measures the value of inventories held by manufacturers for durable goods. Source: Census Bureau.
11. Consumer Confidence (CB, 1985=100): Measures the degree of optimism that consumers feel about the overall state of the economy and their personal financial situation. Source: Conference Board.
12. ISM Manufacturing Report: Measures the economic health of the manufacturing sector based on surveys of purchasing managers. Source: Institute for Supply Management.
13. ISM Non-Manufacturing Report: Measures the economic health of the non-manufacturing sector based on surveys of purchasing managers. Source: Institute for Supply Management.
14. Leading Economic Index: Measures overall economic activity and predicts future economic trends. Source: Conference Board.
15. Building Permits (Mil. of Units, saar): Measures the number of new residential building permits issued. Source: Census Bureau.
16. Housing Starts (Mil. of Units, saar): Measures the number of new residential construction projects that have begun. Source: Census Bureau.
17. New Home Sales (Mil. of Units, saar): Measures the number of newly constructed homes sold. Source: Census Bureau.
18. SA: Seasonally adjusted.
19. SAAR: Seasonally adjusted annual rate.

Market Indices & Indicators:

1. S&P 500: A market-capitalization-weighted index of 500 leading publicly traded companies in the U.S., widely regarded as one of the best gauges of large U.S. stocks and the stock market overall.
2. Dow Jones 30: Also known as the Dow Jones Industrial Average, it tracks the share price performance of 30 large, publicly traded U.S. companies, serving as a barometer of the stock market and economy.
3. NASDAQ: The world's first electronic stock exchange, primarily listing technology giants and operating 29 markets globally.
4. Russell 1000 Growth: Measures the performance of large-cap growth segment of the U.S. equity universe, including companies with higher price-to-book ratios and growth metrics.
5. Russell 1000 Value: Measures the performance of large-cap value segment of the U.S. equity universe, including companies with lower price-to-book ratios and growth metrics.
6. Russell 2000: A market index composed of 2,000 small-cap companies, widely used as a benchmark for small-cap mutual funds.
7. Wilshire 5000: A market-capitalization-weighted index capturing the performance of all American stocks actively traded in the U.S., representing the broadest measure of the U.S. stock market.
8. MSCI EAFE Index: An equity index capturing large and mid-cap representation across developed markets countries around the world, excluding the U.S. and Canada.
9. MSCI Emerging Market Index: Captures large and mid-cap representation across emerging markets countries, covering approximately 85% of the free float-adjusted market capitalization in each country.
10. VIX: The CBOE Volatility Index measures the market’s expectations for volatility over the coming 30 days, often referred to as the "fear gauge."
11. FTSE NAREIT All Equity REITs: Measures the performance of all publicly traded equity real estate investment trusts (REITs) listed in the U.S., excluding mortgage REITs.
12. S&P U.S. Aggregate Bond Index: Represents the performance of the U.S. investment-grade bond market, including government, corporate, mortgage-backed, and asset-backed securities.
13. 3-Month T-bill Yield (%): The yield on U.S. Treasury bills with a maturity of three months, reflecting short-term interest rates.
14. 10-Year Treasury Yield (%): The yield on U.S. Treasury bonds with a maturity of ten years, reflecting long-term interest rates.
15. 10Y-2Y Treasury Spread (%): The difference between the yields on 10-year and 2-year U.S. Treasury bonds, often used as an indicator of economic expectations.
16. WTI Crude ($/bl): The price per barrel of West Texas Intermediate crude oil, a benchmark for U.S. oil prices.
17. Gold ($/Troy Oz): The price per troy ounce of gold, a standard measure for gold prices.
18. Bitcoin: A decentralized digital currency without a central bank or single administrator, which can be sent from user to user on the peer-to-peer bitcoin network.

This content was developed by Cambridge from sources believed to be reliable. This content is provided for informational purposes only and should not be construed or acted upon as individualized investment advice. It should not be considered a recommendation or solicitation. Information is subject to change. Any forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice. The information in this material is not intended as tax or legal advice.

Investing involves risk. Depending on the different types of investments there may be varying degrees of risk. Socially responsible investing does not guarantee any amount of success. Clients and prospective clients should be prepared to bear investment loss including loss of original principal. Indices mentioned are unmanaged and cannot be invested into directly. Past performance is not a guarantee of future results.

The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 leading companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the NASDAQ stock exchange.

Securities offered through Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC, and investment advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Both are wholly-owned subsidiaries of Cambridge Investment Group, Inc. 

This Month’s Spotlight

Start Early, Stress Less: How College Savings Plans Support Financial and Mental Well-Being

Planning for college can feel overwhelming—but one of the most effective ways to reduce both financial pressure and emotional stress is to start early. Using a 529 plan or dedicated college savings account allows families to build a foundation over time, easing the burden when tuition bills arrive and helping students stay focused on their education instead of their finances.

Why Starting Early Matters
College costs rarely come as a surprise—but the size of the expense often does. Beginning to save early, even with small, consistent contributions, allows funds to grow over time through compound earnings. 529 plans, in particular, offer tax advantages when used for qualified education expenses like tuition, books, and housing. The earlier you start, the more flexibility and security you create for the future.

Early planning also reduces the need to rely heavily on student loans, which can become a major source of long-term stress. Families who prepare ahead of time are often better positioned to make thoughtful decisions rather than reactive ones.

Smart Financial Strategies to Build on Your Savings
Even with a college savings plan in place, it’s important to layer in additional strategies as students approach college age. Completing the FAFSA early each year ensures access to federal financial aid opportunities. Scholarships—based on merit, interests, or background—can further reduce out-of-pocket costs.

As students begin managing their own expenses, creating a structured budget becomes essential. Using simple tools like apps or spreadsheets—and following guidelines like the 50/30/20 rule—can help maintain control over spending. Colleges also offer valuable financial resources, including advising on payment plans, work-study opportunities, and paid internships that help offset costs.

For families looking to stretch their savings further, alternatives such as starting at a community college or exploring employer tuition assistance programs can significantly reduce total expenses.

Reducing Stress Through Financial Confidence
Having a plan in place doesn’t just help financially—it can make a meaningful difference in mental health. When students know there’s, a strategy supporting them, they’re less likely to feel overwhelmed or anxious about tuition and debt.

That said, stress can still arise, especially during transitions. Many colleges offer counseling services that provide a safe space to talk through financial anxiety and other pressures. In addition, regular self-care—whether through exercise, mindfulness practices, or simply taking time to recharge—can help maintain balance.

Open communication is another powerful tool. Families who discuss financial expectations early and honestly often avoid misunderstandings later. Students should also lean on trusted friends or mentors to stay grounded and supported.

If stress becomes overwhelming, immediate help is available. In the U.S., calling or texting 988 connects individuals to free, confidential mental health support at any time.

Looking Ahead with Confidence
Starting early with a 529 or college savings plan is more than a financial decision—it’s an investment in peace of mind. Paired with financial literacy, thoughtful budgeting, and strong support systems, it allows students to approach college with greater confidence and less anxiety.

The goal isn’t just to pay for college, it’s to create a path where students can thrive academically and emotionally, without being weighed down by financial uncertainty.

Did You Know?

Many 529 plans allow you to change the beneficiary to another qualifying family member – like a sibling, cousin, or even yourself – without triggering income tax, as long as it stays within the IRA rules. That means if one child doesn’t use all of the funds, the money can often be redirected to another family member’s education. It’s one of the most powerful features of 529 plans.

Tech Tips

Helping Your Child Start Strong: Navigating the 2026 Savings Landscape

Building a financial foundation for your children has changed significantly this year. With the full implementation of the One Big Beautiful Bill (OBBB) Act, parents now have more powerful—and more complex—options than ever before.

The strategy is no longer about picking just one account; it’s about using the right tools for the right goals.

Here is what you need to know about the 2026 landscape.

2026 Key Updates for Your Family

• The 529 "Power-Up": If you are considering private school for elementary or high school, the 529 is now more flexible. You can now withdraw up to $20,000 annually for K-12 tuition—double the previous limit.
• The "Baby Bond" Incentive: If you have a child born between 2025 and 2028, the government will provide an immediate $1,000 deposit into a new Trump Account. Additionally, your employer can now contribute up to $2,500 tax-free to these accounts as a workplace benefit.
• The Financial Aid Factor: When it comes to the FAFSA, the 529 remains the "Gold Standard." The government counts 529s as a parent asset (low impact), while UGMA/UTMA accounts are counted as student assets, which can significantly reduce your financial aid eligibility.
• Coverdell ESA – The Niche Specialist: While 529s are the "Gold Standard," the Coverdell ESA still offers a unique advantage: it allows you to invest in almost any individual stock or bond. This makes it a great "satellite" account for parents who want to self-direct a portion of their child’s education savings into specific companies.
• UGMA/UTMA – The "Total Freedom" Fund: Unlike the other three options, UGMA/UTMA funds are not restricted to education. Once your child reaches the age of majority (usually 18 or 21), they have full control of the assets to use for a first home down payment, starting a business, or any other life milestone.

The Bottom Line: Building a Legacy in 2026

The new financial rules under the OBBB Act have made saving for your children more powerful—but also more complex. The goal is no longer just "saving for college"; it’s about using a mix of tools to give your kids the best possible head start in life.

By combining the tax-free power of a 529 Plan with the new federal incentives of the Trump Account, you can cover tuition costs today while building a retirement or "life launch" fund for their tomorrow.

The right strategy depends entirely on your family's specific timeline and goals.

Recipe of the Month

Sheet Pan Hawaiian Chicken: Easy Recipe You’ll Love!

INGREDIENTS

• 1/4 cup soy sauce (or tamari for a gluten-free option)
• 1/4 cup honey or brown sugar
• 2 tablespoons minced garlic
• 1 tablespoon grated fresh ginger (or 1 tsp ground ginger)
• 1 tablespoon sesame oil (or olive oil)
• 4 pieces boneless, skinless chicken thighs (or chicken breasts)
• 1 cup fresh pineapple chunks (can use canned if necessary)
• 1 piece red bell pepper, sliced
• 1 piece green bell pepper, sliced
• to taste salt and pepper
• Green onions and sesame seeds for garnish (optional)

INSTRUCTIONS

1. Preheat your oven to 400°F (200°C).
2. In a mixing bowl, combine the soy sauce, honey, minced garlic, grated ginger, and sesame oil to prepare the marinade.
3. Place the chicken thighs in a large resealable bag or shallow dish. Pour half of the marinade over the chicken, ensuring it is well coated. Let it marinate for at least 10 minutes while you prepare the veggies.
4. On a large baking sheet, arrange the marinated chicken, pineapple chunks, and sliced bell peppers. Drizzle the remaining marinade over the top and toss to mix.
5. Place the sheet pan in the preheated oven and bake for about 20 minutes, or until the chicken is cooked through, reaching an internal temperature of 165°F (75°C).
6. Let the dish rest for a few minutes before serving. Top with green onions and sesame seeds for garnish.

National Parks

Grand Teton National Park

Grand Teton is one of the most beautiful, and sometimes overlooked, national parks in America. Springtime in the Tetons is dramatically different than all other times of the year. And while it’s not your
typical spring break destination, here’s why it’s one of the best national parks to visit in the spring.

If you visit Grand Teton in March or April, there will be places that are closed to the public. The area is still thawing out and you won’t be sitting by the lake in your swimsuit. But don’t let that stop you because the park is open year-round. And if you’re wondering why to visit a place that is practically shut down, it’s because you’ll have a private viewing.

Recommended is setting up base in Jackson, Wyoming. You’ll be a short five-mile drive from Grand Teton.

And Jackson is filled with things to do. Spring ski season is in full effect and you can enjoy some of the nation’s best skiing, with warmer temperatures than you would typically endure in winter. Bring an RV or rent a modern cabin at the Fireside Resort. Or splurge on the hotel Jackson. And after hitting the slopes, treat yourself at one of the delicious restaurants in downtown Jackson.

From Jackson, you can make the short trek into Grand Teton. You’ll be able to view the gorgeous snow-capped mountains and get your picture in front of the famous T.A. Moulton Barn without a crowd of tourists in your background. This is also a great time for private wildlife viewing.

When you’re exploring the wilderness of Grand Teton, you’re in bear country. Your safety is paramount, and bear spray is a non-negotiable item on your packing list.

Ensure you know how to use it before hitting the trails, and keep it readily accessible—not buried in your backpack. While bear encounters are rare, your preparedness can make a significant difference. It’s not just about your safety; it’s also about respecting the wildlife and their habitat.

There is a string of lakes – Phelps Lake, Taggart Lake, Bradley Lake, Jenny Lake, String Lake, Leigh Lake and Jackson Lake – along the foot of the Teton Ranges.  

In the summer months, Grand Teton National Park’s lakes become a hub of activity. Glide across the crystal-clear waters of Jenny Lake by boat tour, or rent a kayak to explore at your own pace. Paddling these pristine waters offers a new perspective of the Tetons and can lead you to quiet coves and hidden shorelines teeming with life. 

You can rent boats, canoes and kayaks at Colter Bay on Jackson Lake. String Lake and Jenny Lake are lovely places to hang out in the water, too.

The 42-mile Scenic Loop is a gateway to some of the most stunning landscapes in Grand Teton National Park. 

This drive offers a series of pullouts and viewpoints, each presenting a new angle of the majestic Teton Range and its valleys. Start your journey early to bask in the morning light, which paints the peaks in hues of gold and amber.

Don’t rush through; take your time to stop, explore, and snap photos. This loop is one of the most scenic drives in the country.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses, summary prospectuses and 529 Product Program Description, which can be obtained from a financial professional and should be read carefully before investing. Depending on your state of residence, there may be an in-state plan that offers tax and other benefits which may include financial aid, scholarship funds, and protection from creditors. Before investing in any state's 529 plan, investors should consult a tax advisor. If withdrawals from 529 plans are used for purposes other than qualified education, the earnings will be subject to a 10% federal tax penalty in addition to federal and, if applicable, state income tax.

Sources:

https://excelitehost.com/sheet-pan-hawaiian-chicken-recipe/?utm_source=Pinterest&utm_medium=organic

https://parkscollecting.com/tips-for-visiting-grand-teton-national-park/?utm_source=Pinterest&utm_medium=organic