Memorial Wealth Group

Since I was a kid, I’ve had an irrational fear of skiing and ice skating. I can’t pinpoint why, but the thought always intimidated me. Then one day, when we were traveling in Europe, I decided to give skiing a shot. To my surprise, I got it. I wasn’t great or anything, but I actually got it. And had a blast!

Fast forward to this past weekend. We went with our kids to a Christmas market in our neighborhood. My wife grew up in Ukraine ice-skating on frozen rivers in winter, so she was eager to ice skate, but I planned to sit it out. That is, until the person handing out skates offered me a pair - completely free. How could I say no? So, I put the skates on, very carefully made my way onto the ice, and before I knew it, I was getting the hang of it. And honestly I had a great time!

This experience reminded me of an important lesson, one I want to share as we head into the new year: step out of your comfort zone. Try something new. Break away from your daily routine and do something different, even if it’s small. It doesn’t have to be risky or exhilarating to make a difference.

Take someone who thinks differently from you politically to lunch and have an open conversation - not to debate or convince them your way is better, but to genuinely understand their perspective. Volunteer a few hours of your time at a local nonprofit. Or follow in the footsteps of a friend of mine who started ballroom dancing at the age of 70! Life doesn’t come with an expiration date on trying new things. There’s no rulebook that says you can’t start something fresh as you get older.

At the end of the day, my message is this: pause to appreciate the life you have. Stop chasing after things and take a moment to find joy in the present. But remember, part of personal growth comes from embracing new experiences. So, in 2025, challenge yourself to step outside the familiar. You might just surprise yourself.

With the election of Donald Trump, I started a weekly look at tariffs because I knew they would become more prevalent over the next four years. What follows is my opinion on the topic, informed by extensive travel to over 50 countries and years of observing trade policies in action around the world.

Tariffs represent quite a departure from the free trade mantra that dominated for so long. While controversial, they can have several notable impacts:

1. Inflation Risks (or Not)

Tariffs can cause inflation, but not always. For example, production costs in places like China are so low that manufacturers often absorb the tax instead of passing it on to consumers. If they raise prices too much, they risk losing buyers who may switch to a slightly more expensive but higher-quality product made in the USA.

2. A Negotiating Tool

Tariffs can be a powerful negotiating tool. Take Europe, for example: some products from Europe enter the U.S. with little to no tariff, while the same American products going into Europe face a 100% tariff. That’s a trade imbalance, plain and simple. Tariffs could help level the playing field.

3. Shifting Supply Chains

With regard to China. As tariffs make production in China more expensive, countries like Vietnam and Indonesia are stepping up. Watch for these countries to strike trade deals with the U.S. to capture the manufacturing that’s shifting out of China.

Finally, let’s address globalism. On paper, it sounds great—companies moving production abroad to save on labor costs. But middle America suffered as a result, and they called out the establishment by electing a quasi-protectionist like Donald Trump. It’s a sea change, and there’s no end in sight.

In the next post, I’ll dive into what we can expect as this shift continues to shape trade and the global economy.

I work in both Houston and New Orleans, and I often see people comparing one city to the other. It’s really like comparing apples and oranges, as the two cities are very different. One is like a small country, and one takes me 15 minutes to get downtown from one of the furthest suburbs. In my recent visit to New Orleans however, I noticed some similarities that I find troubling.

First, many restaurants and small businesses are struggling. Every week on the Houston Memorial Area foodies group I read of a restaurant closing. In Nola last month, I ate lunch at a place that used to be popular but this time I was the only one there. The same thing happened two days later at another restaurant. It was empty. I stopped at two shops where I buy Nola themed stuff to get a tie for my son, and both were empty. Little to no customers.

Second, rising insurance costs due to weather events are hurting people financially. At least in Houston, you can get a homeowners insurance. In Nola and the surrounding areas you have to go to the state plan which is very expensive.

Third, Natalia and I went grocery shopping at H-E-B a couple of weeks ago. Some food items that we were paying $9-10 for a few months ago are now $12-14. That’s almost a 30% rise in cost over a few months. Nola is the same, albeit there aren’t many high paying corporate jobs that allow people to sustain themselves even though the prices have gone up.

In the end, I love both places, and I hope things get better for people and small businesses there soon!

Have you all seen the sign-up bonuses for new banks accounts? It’s wild. The normal bonuses that I see regularly on social media are $400-$500 but I've seen them go up to $3k. For credit cards I’m seeing bonus points and miles of up to 100k. I view banking as a commodity, meaning that there is no substantial difference in what bank A can do for me vs bank B. If a bank is willing to pay me to use their “service”, I’m willing to take their sign-up bonus any day of the week. Here are some things to watch for when signing up for a new account with a cash reward.

First, read their rules for getting the bonus and make sure you follow each step. Typically, there is a required minimum deposit, a number of debit card transactions, and a minimum daily balance you have to keep.

Second, pay attention to fees. Again to get out of paying the monthly service charge, you have to do something. Just make sure you do that “something”.

Third, it seems this is market based, so if you live in a market that has a lot of competition the sign-up bonus is offered. If you live in a place where one bank controls everything, don’t expect to have these offers in your area. I’m in Houston and there is evidently a lot of competition for a lot of money.

Fourth, you’ll get a 1099 int at the end of the year for the cash bonuses but not the bonus miles or points.

Lastly, make sure to put the new account on your account aggregation program to keep track of the assets. You don’t want to forget about the account at any point in time. So what’s the best bonus checking account or credit card you’ve signed up for recently?