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Government Shutdowns: What They Mean for Markets and Why Perspective Matters

As the current U.S. government shutdown approaches the three-week mark, it’s natural for headlines (and investor nerves) to amplify. At Carver Financial Services, we believe that staying grounded in facts and maintaining a long-term perspective is the best way forward. Below, we provide historical context, evaluate what this shutdown may — and may not — mean for financial markets over the next 6-12 months, and highlight how we’ve supported clients through past events.

1.  How common are government shutdowns — and what’s their track record?

Contrary to what some headlines suggest, government shutdowns are not once-in-a-generation events. They have become a recurring feature of the federal budget process:

  • Since 1980, there have been about 10 funding-lapse shutdowns that resulted in furloughs of federal employees.
  • Depending on how you count (continuing resolutions, partial closures, ), some sources identify as many as 14 since 1980.
  • The durations vary: many last only a few days, though a few stretch into
  • The longest shutdown in S. history ran 35 days (December 2018 to January 2019). So, while the political context always differs, the mechanics (and market reaction patterns) have been fairly consistent.

2.  What is and isn’t impacted during a shutdown

It’s important to draw the distinction between what typically slows or stops — and what continues uninterrupted:

Often curtailed or halted:

  • Many non-essential federal programs and discretionary services: national parks, museums, regulatory or permitting functions.
  • Agencies with discretionary funding (for example portions of Health & Human Services, Education, Interior) may furlough staff or reduce operations.
  • Economic data releases (jobs reports, census surveys) can be delayed or suspended, creating “blind spots” for policy- and market-makers.

Typically unaffected:

  • Mandatory programs funded outside the annual appropriations process: Social Security, Medicare, Medicaid, veterans’ benefits all continue.
  • Essential life-safety or national security functions: defense operations, air-traffic control, border security remain in operation — though pay may be delayed.
  • The S. Postal Service, funded differently, continues.
  • Importantly, debt servicing (interest and principal payments on S. debt) continues, so a shutdown is not a sovereign default.

In short: a shutdown is disruptive, but it is not a total paralysis of government or economy.

3.  Market and economic impacts in the 6-12 months following shutdowns

Here’s what the historical evidence tells us:

(a)   Market returns tend to recover

  • According to published data, since the mid-1970s the S&P 500 has delivered positive 12- month returns after the vast majority of shutdowns.
  • For example: after the 35-day 2018-19 shutdown, the S&P rose ~24% in the following
  • Other summaries show that 12 months post-shutdown, stocks were higher in 15 out of 16 cases, with an average gain of ~16%.
  • Even 6 months post-shutdown, average gains of ~9.7 % have been observed. This suggests that while headlines may spook markets short-term, equity markets typically resume their longer-term trend once the shutdown ends.

(b)   Economic drag tends to be modest

  • For the 2018-19 shutdown, the Congressional Budget Office (CBO) estimated a reduction in GDP of ~0.1% in Q4 2018 and ~0.2% in Q1 2019.
  • Economically, the main cost is often the time lost in operations and data gaps; structurally the economy remains intact.
  • The bigger risk is not the shutdown per se, but if it triggers a broader loss of confidence, delays key policy, or messes up the flow of credit and data.

4.  Putting it in perspective — what we expect, and what we’re watching

At Carver Financial Services, our view is as follows:

  • Short-term volatility and sentiment shocks are possible (and likely) when prominent fiscal events like a shutdown hit the news.
  • But long-term economic and corporate fundamentals — earnings growth, balance sheets, interest rates, productivity — remain the drivers of returns.
  • Historically, once a shutdown is resolved cleanly, markets The greater danger would be prolonged political gridlock, a failure to raise the debt ceiling, or systemic credit disruptions.
  • We continue to monitor broader fiscal and monetary conditions: debt-ceiling negotiations, interest-rate policy, global growth trends, credit flows.
  • Our portfolios remain grounded in fundamentals: strong companies, healthy balance sheets, diversified assets, and flexibility built in to adjust if conditions change.

5.  How Carver Financial Services Has Guided Clients Through Major Events

Since 1990, Carver Financial Services has walked alongside clients through major market and economic events, providing perspective, prudent planning and steady stewardship. These events include:

  • The early-1990s recession and Savings & Loan crisis
  • The 1994 global bond-market crisis (sometimes called the “Great Bond Massacre”).
  • The bursting of the dot-com bubble around 2000-
  • The 2007-2009 Global Financial Crisis (sub-prime mortgage meltdown).
  • The COVID-19 pandemic shock in 2020 and its rapid market collapse and

In each case, we used the event not as a trigger for fear, but as a reminder of the value of long-term planning, diversification and staying invested. Our clients entered these crises with a plan; they exited them with lessons learned and portfolios intact.

6.  Key Takeaways for Investors

  • Government shutdowns are not unprecedented — they happen with some frequency, often lasting days or weeks.
  • While they interrupt discretionary government operations, they do not stop core functions like Social Security or debt payments.
  • Historically, markets have weathered these events reasonably well — equities have shown positive returns in the subsequent 6-12 months.
  • The larger risks lie in how markets and policymakers respond, not the shutdown
  • Periods of volatility can present opportunities to review, rebalance and reaffirm long-term strategy rather than exit in panic.
  • At Carver Financial Services, our focus remains helping you stay informed, steady and focused on long-term-growth — even during short-term political storms.

We remain committed to being your partner — through headline moments and quieter times alike. If you have questions or would like to discuss how this event may affect your portfolio specifically (or how we’re positioned), please don’t hesitate to reach out.

Any opinions are those of Randy Carver and not necessarily those of Raymond James. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.

Agentive AI: A Revolution in Business, Work and Wealth

Since Carver Financial Services was founded in 1990, we’ve witnessed — and helped our clients navigate — some of the most fundamental shifts in modern history. We’ve been here through the creation of the internet, the widespread adoption of personal cell phones, the invention of social media and many other advances that have changed the way we live and work.

Through all this, one thing has remained constant: our commitment to using the latest tools to enhance — not replace — personal interaction. As we integrate cutting-edge technologies like agentive AI, we’re doing it with that same focus. Technology is a tool. People are the priority.

Here’s what you should know about the next major evolution in technology — and what it means for you.

What is agentive AI?

Agentive AI refers to systems that function not just as helpers, but as autonomous agents — taking action on your behalf, learning from experience and making decisions based on goals and context.

Whereas traditional AI responds to prompts at a point in time and generative AI answers questions, agentive AI acts autonomously to make recommendations and decisions. Think of it as the next step beyond traditional AI — like Siri, ChatGPT or Alexa. While those tools respond to prompts, agentive AI can do the following independently:

  • Make decisions
  • Complete tasks
  • Learn and improve over time
  • Coordinate with other systems or agents

In discussions about agentive AI, you’ll probably hear references to “AI agents,” which are sophisticated AI systems designed to reason, plan and execute tasks toward a specific goal, autonomously. AI agents often involve complex workflows and interactions with other systems. Unlike simple chatbots or automated tools, AI agents can operate with a degree of independence.

The terms can be confusing; there is agentic AI and agentive AI. Both concepts involve agents that act on behalf of a user. The main difference is that the agentic framework focuses on the “back stage” — how a user request is handled in the code — and the agentive framework focuses on the “front stage” — the user-experience implications of tasks being handled outside a user’s attention.

Agentive AI is already changing the way we go about our daily tasks. For example, home security systems can now distinguish among pets, swaying trees and potential intruders. Refrigerators now can detect the food stored inside and suggest recipes using those ingredients. Self-driving cars are already on the roads. Security companies are using facial recognition technology. And medical centers are more accurately predicting the odds of being diagnosed with specific conditions.

In financial management, AI uses advanced algorithms to analyze market trends and to identify investment opportunities that human analysts might miss. Investment firms use AI to track market sentiment in real time, predict price movements and identify investment risks.

Job losses vs. profit gains

As with every industrial or technological revolution — from the steam engine to the internet — there will be displacement; however, productivity will increase. Like every major innovation, agentive AI will have a dual impact.

On one hand, some jobs will be lost, particularly roles that require routine, repetitive work and don’t require creativity or complex judgment. A 2025 McKinsey report identified about one hour of daily activities that have the technical potential to be automated, and by 2030, the potential for automation could rise to three hours per day. This is not unlike what we saw during the rise of personal computing or the internet.

However, history shows us that while some jobs disappear as the result of advancing technology, others are created, and productivity skyrockets. Agentive AI is projected to boost output by 30 to 40 percent in certain sectors, driving higher profits and improved services. AI is augmenting the efforts of the human workforce, freeing people up to focus more on strategic and creative work and removing potential bottlenecks.

For businesses, it means doing more with less. For investors, it translates to greater earnings potential. And for society at large, it offers the possibility of more meaningful, creative work emerging in place of the mundane.

The bigger economic picture

Goldman Sachs projects that generative and agentive AI could add as much as $7 trillion to global GDP over the next decade. These gains are not isolated to Silicon Valley — they’re expected to touch nearly every industry: finance, health care, logistics, law and education.

The following are just some of the broader implications:

  • A surge in new business models and services
  • Expansion of AI-driven sectors ripe for investment
  • A shift toward reskilling and workforce evolution

How Carver Financial Services is navigating this change

At Carver Financial Services, we’ve always embraced change with clarity and purpose. Our approach to AI and emerging technology is no different:

  • We’re actively investing in the latest tech — but we do it to enhance our personal relationships, not to replace
  • We’re expanding our team, even as we implement more automation and AI internally.
  • We use technology to create efficiency behind the scenes so our team can spend more time building real connections and delivering customized solutions for you.

As with every past disruption — from dot-com booms to market crashes — there will be a lot of dire warnings in the media. We’re here to help you make informed, calm and strategic decisions.

What this means for you

If you’re a client, business owner or investor, here are some key takeaways:

  • Stay invested in the future. The companies that are adopting and adapting to AI will likely lead the next wave of growth.
  • Focus on adaptability. Whether you’re investing capital or planning your career, flexibility and a forward-looking mindset will serve you well.
  • Know we’ve got your back. Our team is constantly educating ourselves on what’s changing — so you don’t have to do it alone.

Technology will continue to change — but our core values won’t. At Carver Financial Services, we’re committed to blending innovation with unmatched personal service.

Agentive AI is simply the next evolution, and with it comes great opportunity — not just for big companies, but for individuals who are willing to learn, adapt and invest wisely.

If you have questions about how these changes might affect your financial future — or if you just want to chat about what’s coming next — we’re here, as we have been since 1990, to help guide you forward.

Any opinions are those of Randy Carver and not necessarily those of Raymond James. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.

The One Big Beautiful Bill

The recently passed “One Big Beautiful Bill” (OBBB) has generated plenty of headlines—and even more questions. This sweeping tax and spending bill impacts nearly every American household, including many of our clients here at Carver Financial.

While the legislation brings notable benefits for seniors, it also includes broader tax changes, savings opportunities, and policy updates that could affect your long-term financial strategy. In this post, we’ll walk through the key provisions—and what they could mean for you.

Tax Relief for Seniors (Age 65+)

Let’s start with the good news for retirees and older adults:

1. A New Bonus Deduction

From 2025 through 2028, seniors aged 65 and older can take advantage of a new  $6,000 bonus tax deduction. Married couples where both spouses are 65+ can claim $12,000.

This is in addition to:

  • The base standard deduction ($15,750 for individuals / $31,500 for couples filing jointly)
  • The existing age-based senior deduction ($2,000 individual / $3,200 per couple)

That means a senior couple could potentially deduct $46,700 before paying any federal income taxes.

2.  Social Security Impact

With these expanded deductions, 88% of Social Security recipients are expected to pay zero federal income tax on their benefits. While Social Security itself isn’t fully tax- exempt, this structure effectively eliminates tax liability for most recipients.

Takeaway: Seniors on a fixed income will likely see more money stay in their pocket.

Benefits for Working Families and Individuals

The OBBB includes a variety of incentives and tax breaks for working Americans:

1.  Overtime, Tips, and Work Incentives

  • For households earning less than $150,000/year, tips and overtime pay are now tax-free (up to $25,000 per year).
  • Designed to boost take-home pay for hourly and service.

2.  Auto Loan Interest Deduction

  • Individuals can now deduct up to $10,000 per year in interest on car loans for vehicles assembled in the U.S. (2025–2028 only).
  • Income phaseouts apply above $175,000 (single) or $250,000 (joint).

3. Child & Family Accounts

  • Child Tax Credit increases slightly to $2,200 per child, indexed to
  • New “Trump Accounts” start with a $1,000 government deposit at birth, growing tax-deferred for education, housing, or retirement.

Changes to State & Local Tax (SALT) Deduction

For those living in high-tax states like New York, California, or Illinois, this is important:

  • The SALT deduction cap rises from $10,000 to $40,000 for 2025, with gradual increases thereafter.
  • This change especially benefits households making under $500,000 who itemize their deductions.

Healthcare and Medicaid Changes

While many of the bill’s tax cuts are widely praised, it’s important to note that OBBB also includes major cuts to federal programs:

  • Medicaid and SNAP (food assistance) face over $1 trillion in funding reductions over the next decade.
  • New work requirements and limits on retroactive Medicaid coverage could increase out-of-pocket expenses for some.

529 savings plans

The law expanded the eligible expenses for which 529 funds can be used. Previously, 529 funds for K-12 students could be used primarily for tuition, with an annual limit of $10,000. Expenses such as tutoring, testing fees, dual enrollment, and educational therapy for children with disabilities are now eligible. And the annual amount was increased to $20,000 starting in 2026.

The law also increased student loan payback from $10,000 to $25,000 per beneficiary, allowed for post-secondary credentialing to pursue a trade or designation, and made permanent rollovers from 529 to ABLE accounts.

Other Items to Note:

  • Charitable deduction for non-itemizers – Reintroduces the deduction for qualified charitable contributions even for taxpayers who don’t itemize. Effective in tax years following 2025, individuals can deduct up to $1,000 (or $2,000 if married filing jointly). This provision becomes permanent after 2025.
  • Gift and Estate exemption thresholds under Tax Cuts and Jobs Act made permanent. The gift and estate tax exemption will also increase from $13.99 million for single filers and $27.98 million for married couples filing jointly in 2025, to $15 million and $30 million, respectively, in 2026.

Will This Help the Economy?

Supporters argue that the bill will:

  • Stimulate growth by making tax cuts permanent and encouraging spending and hiring.
  • Boost GDP by an estimated 2% over the long run, according to the nonpartisan Tax Foundation.

However, critics note: The bill could increase the national debt over 10 years.

The bottom line? While most Americans will see some form of tax relief, the long-term economic impact remains a subject of debate.

What This Means for You

At Carver Financial Services, our mission is to help you live life on your terms—and navigate through times of change with confidence.

Here’s how we recommend moving forward:

  • If you’re over 65, review your tax plan to ensure you’re maximizing the new deductions.
  • If you’re working, talk with us about optimizing your paycheck under the new overtime/tips exemption.
  • If you itemize, the new SALT cap and auto loan interest deduction may open new opportunities.
  • If you have children or grandchildren, consider how Trump Accounts and the Child Tax Credit may help fund their future.

We’re Here to Help

This is a complex and impactful piece of legislation—but you don’t have to navigate it alone. Whether you’re reviewing your retirement strategy, exploring ways to reduce your tax burden, or planning for future generations, our team is here to help you make informed, confident decisions.

As always, we’re committed to providing clarity, perspective, and support through every season of life. Please don’t hesitate to reach out to me or anyone on our team with questions or if we can be of assistance in any way. There’s no cost or obligation to connect—we’re simply here for you.

You can contact us at randy.carver@raymondjames.com or (440) 974-0808.

Any opinions are those of Randy Carver and not necessarily those of Raymond James. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.

“This Time It’s Different”…Except It Never Really Is

If you’ve been investing over the past decade, you’ve lived through a masterclass in market resilience: global pandemics, geopolitical invasions, inflation surges, government shutdowns, and banking crises. Each time, headlines warned us—“This time it’s different.” And each time, that warning proved to be more emotion than fact.

Now, new concerns dominate the headlines: escalating tensions in the Middle East, the looming possibility of U.S. involvement in the Iran–Israel conflict, renewed tariff debates, and uncertainty over sweeping tax legislation.

So… is this time really different?

Let’s take a look back at the past ten years—at some of the most jarring events, the panic-inducing headlines, and how the markets actually performed in the aftermath. You may find that the greatest threat to long-term investors isn’t the crisis of the moment—it’s forgetting how often we’ve been here before.

1. Brexit Vote – June 2016
• Headline: “Brexit: Britain shocks world by voting to leave the EU”
— CNN, June 24, 2016
• Dow Jones: 17,400

Markets tumbled in the immediate aftermath—but rebounded within weeks. Long-term? The Dow nearly doubled in the years that followed.

2. U.S. Election Shock – November 2016
• Headline: “Markets plunge worldwide as Trump wins presidency”
— The Guardian, November 9, 2016
• Dow Jones: 18,332

After a single overnight sell-off, the market reversed and began a historic climb. “Trump Rally” entered the lexicon.

3. COVID-19 Pandemic – March 2020
• Headline: “Dow plunges 2,997 points as coronavirus collapse continues”
— CNBC, March 16, 2020
• Dow Jones: 20,188

This was the fastest bear market in history. But by August 2020, markets had recovered. By the end of 2021, the Dow was at 36,000+.

4. Capitol Riots & Political Unrest – January 2021
• Headline: “Dow closes at record high despite Capitol chaos”
— Yahoo Finance, January 6, 2021
• Dow Jones: 30,829

Even in the face of unprecedented political chaos, the markets focused on recovery, stimulus, and long-term growth.

5. Inflation & Rate Hikes Panic – June 2022
• Headline: “Stocks tumble as inflation hits 40-year high”
— Bloomberg, June 10, 2022
• Dow Jones: 31,392

Inflation fears rocked the market—but not permanently. Rate hikes were absorbed and eventually normalized.

6. Regional Bank Collapse – March 2023
• Headline: “Silicon Valley Bank collapses in biggest bank failure since 2008”
— Reuters, March 10, 2023
• Dow Jones: 31,909

Fears of systemic collapse were widespread. Yet the market stabilized, and the Fed quickly acted to prevent contagion.

7. War in the Middle East – October 2023
• Headline: “Hamas launches surprise attack on Israel”
— BBC, October 7, 2023
• Dow Jones: 33,407

Geopolitical crises often create temporary fear—but rarely result in long-term market devastation.

Despite all the chaos, the Dow climbed from around 17,000 in 2016 to over 42,000 by 2025.

Here’s a powerful truth: the average intra-year market drop is 14.1% (source: JPMorgan Asset Management). That means markets fall every year—often sharply—but more often than not, they recover and keep moving higher.

Because fear sells. “This time is different” isn’t just reporting—it’s a dramatic story that demands your attention, drives clicks, and keeps you coming back for more. But history tells a different story: the headlines change, the players shift, but the long-term trajectory of the market continues to rise.

The Real Lesson for Investors

Panic is loud. Strategy is quiet.
The most successful investors don’t get swept up in the noise—they stick to their plan, stay diversified, and keep long-term goals in focus.

Want to Protect Your Future?

The next storm will come—it always does. The key is being ready. That means focusing less on the headlines and more on what truly matters: a solid, forward-looking plan tailored to you.

At Carver Financial, we take a proactive, personalized approach to planning. We monitor your portfolio consistently and make thoughtful, customized recommendations based on your unique goals and vision.  We make adjustments that take advantage of uncertainty.

While we use cutting-edge technology to enhance your experience, we never outsource your future to an algorithm. Unlike firms that delegate portfolio management to AI, our experienced advisors work personally with you to help navigate uncertainty and pursue long-term success.

Have questions or want to review your plan? We’re here to help—because your vision is our priority.

Any opinions are those of Randy Carver and not necessarily those of Raymond James. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.

6 Steps to Add Digital Assets to Your Estate Plan

In today’s digital age, our lives are increasingly intertwined with technology, often leading to the accumulation of various digital assets. These assets, ranging from online financial accounts to social media profiles, hold both sentimental and monetary value.

However, without proper estate planning, these digital possessions can become inaccessible or lost upon one’s passing. This blog post outlines essential steps to ensure your digital assets are effectively managed and transferred according to your wishes.

Examples of digital assets

Digital assets encompass a broad spectrum of electronic possessions, including the following:

  • Financial accounts: Online banking, investment portfolios, cryptocurrency wallets non-fungible tokens (NFTs), which are unique digital assets that you can buy, sell and trade, stored on a blockchain. NFTs represent assets such as digital games, music, art, videos and collectible items.
  • Medical records: These are some of your most important digital assets
  • Personal media: Photos, videos and documents stored on cloud services or personal devices
  • Social media profiles: Accounts on platforms like Facebook, Instagram, LinkedIn and X (formerly Twitter)
  • Subscriptions and memberships: Digital subscriptions to services such as Netflix, Amazon Prime or online publications
  • Intellectual property: Domain names, blogs and other online content you’ve created

Balancing ease of access with privacy

Managing your digital assets requires thoughtful planning and the guidance of an estate-planning professional. Sorting through tangible assets is difficult enough when a loved one dies; it can be extremely time-consuming, frustrating and difficult for loved ones when someone also has a lot of digital assets but leaves no instructions about how to access them.

However, you want to balance the ability of your executor to access these assets easily with privacy. For example, you might want some information accessible while keeping your personal emails private. Or you might want to grant access to your business information but not your personal details. To accomplish this, you can grant your executor access to some digital accounts while excluding others, or you can select different people to receive access to different accounts.

Why it’s important to include digital assets in your estate plan

Incorporating digital assets into your estate plan is crucial for several reasons:

  • Accessibility: Without proper documentation, your loved ones may struggle to locate or access your digital assets, leading to potential loss of valuable information or funds.
  • Security: Proper planning helps protect your digital assets from unauthorized access or potential fraud after your passing.
  • Preservation: These assets can help ensure that sentimental items, such as family photos or personal writings, are preserved for future generations.

Steps to incorporate digital assets into your estate plan

Here are six steps to help you get started.

1. Create a comprehensive inventory

Begin by listing all your digital assets, including the following:

  • Account names and types, including online shopping sites, customer-loyalty programs and even gaming avatars
  • URLs, web addresses and domain names you have registered
  • Usernames and associated email addresses
  • Passwords and security questions
  • Tax software and documents, bookkeeping records, proprietary business software and client data

Include information for all your electronic devices. Store this inventory securely, such as in a password-protected document or a reputable digital vault, so your executor can access them easily.

2. Understand legal considerations

Familiarize yourself with the legal aspects of digital asset management:

  • Terms of service agreements: Each digital platform has its own policies regarding account access and transferability after death. Review these terms to learn what is permissible.
  • State laws: Legislation like the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA) provides a framework for fiduciary access to digital assets, but its adoption and specifics can vary by state.

3. Incorporate digital assets into your legal documents

Just as you would any other assets, explicitly address digital assets in your estate-planning documents:

  • Wills and trusts: Specify how digital assets should be handled and who should have access to them. Do not include passwords in your will, though, because it will become a public document upon your death.
  • Powers of attorney: Grant trusted individuals the authority to manage your digital assets in case you become incapacitated.

Clearly outlining your wishes can help prevent legal challenges and ensure your digital assets are managed as intended.

4. Designate a digital executor

Appointing a digital executor — a person responsible for managing your digital assets after your death — can streamline the process of distributing them as you wish. This individual should be trustworthy and tech-savvy, capable of navigating various digital platforms. The legal recognition of digital executors varies by jurisdiction, so consult with an estate-planning attorney to ensure compliance with local laws.

5. Use online tools

Some platforms offer features to manage your account posthumously. Here are a few examples:

  • Google’s Inactive Account Manager: Allows you to decide what happens to your account after a period of inactivity.
  • Facebook’s Legacy Contact: Enables you to designate someone to manage your memorialized profile.
  • LinkedIn does not have a legacy feature. However, if you are legally authorized to act on behalf of a deceased LinkedIn member, you can submit a request to have that person’s account closed or memorialized. If you are not authorized, you can still report the member as deceased, and LinkedIn will memorialize the profile.

Leveraging these tools can provide additional layers of control over your digital legacy.

6. Update your plan regularly

Digital assets and platforms evolve rapidly. Just as we review your financial portfolio regularly to and adjust it as needed, we recommend that you regularly review and update your digital estate plan. We want to make sure that new assets are included, outdated information is removed and your wishes are current.

Conclusion

As our digital footprints expand, integrating digital assets into estate planning becomes increasingly vital. By taking proactive steps — such as creating a detailed inventory, understanding legal considerations and updating your plan regularly — you can ensure that your digital legacy is preserved and managed according to your wishes. Consult with estate-planning professionals who can provide personalized guidance tailored to your unique digital-asset portfolio.

Any opinions are those of Randy Carver and not necessarily those of Raymond James. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.

Every Time the Dow Falls, It Has Risen Again

At any given time, global events — and the deluge of headlines about them — can contribute to significant shifts in the markets. However, history has shown us time and time again that whenever the markets experience even significant declines, they have always recovered and gone on to reach new highs. We cannot predict how long it will take for the stock market to recover, but historically, it always has.

One common denominator among all market crashes is investor panic. The markets are quite resilient; however, when events such as global crises, economic downturns and speculative bubbles happen, it can cause widespread panic among investors, who begin to sell their stocks en masse, leading to sudden and significant market downturns.

A stock market crash occurs when a broad market index, such as the S&P 500 or the Dow Jones Industrial Average (DJIA), undergoes a sudden and severe drop — typically 10 percent or more over a few days. Unlike regular market corrections, crashes are marked by their speed and intensity. In contrast, a recession is a significant, persistent, and widespread contraction in economic activity. Since the Great Depression, the United States has suffered 14 official recessions.

Following a financial crisis, the US economy typically recovers through a combination of monetary policy (actions by the Federal Reserve to manage interest rates and the money supply) and fiscal policy (government spending and tax adjustments) aimed at boosting demand and stimulating growth.

To show you how the markets have recovered, even following significant crashes, I’ve put together examples of 10 notable crashes, market events, and recoveries in U.S. history since 1980.

There are several indexes we could track, but here, I note the rises and declines in the DJIA, which is considered a gauge of the broader U.S. economy. The DJIA is a stock market index that tracks 30 large, publicly owned blue-chip companies that trade on the New York Stock Exchange (NYSE) and Nasdaq. This index is named after Charles Dow, who created it in 1896 with his business partner, Edward Jones.

As you read about these ups, downs and rebounds, I hope you will realize how critical it is to focus on your long-term vision and ignore the foreboding headlines and the inevitable market fluctuations.

The 1981–82 recession

(The Dow fell from 1,024 to 776 and rebounded to 875.)

The United States entered a recession in January 1980, caused primarily by a disinflationary monetary policy adopted by the federal reserve and cuts in domestic spending made by Ronald Reagan. This recession is actually considered to be two separate recessions. The “1980 recession” lasted throughout the first six months of the year, and “the early 1980s” recession lasted from July 1981 to November 1982.

From February to April 1980, the DJIA fell 16 percent. As a result, the Federal Reserve cut the Fed Funds rate to 8.5 percent. This adjustment caused the Dow to rise, and the Fed brought rates up to combat inflation. That caused the Dow to fall 22 percent. This is considered to be the worst recession since the Great Depression, except for the 2008 recession.

The Dow fell from a peak of around 1,024 in April 1981 to a low of around 777 in August 1982, representing a decline of more than 22 percent.

But then the US economy rebounded through a combination of policy changes, including deregulation, tax cuts and a reduction in government spending. Also contributing to the recovery was a shift toward a focus on controlling inflation, which eventually led to sustained economic growth.

The DJIA closed out 1980 at 963.99 and 1981 at 875.00.

The stock market crash of 1987

(The Dow fell from 2,247 to 1,739 and rebounded to 1,938.)

The first contemporary global financial crisis began on October 19, 1987, a day known as “Black Monday,” when the DJIA dropped 22.6 percent in a single trading session. The Dow fell from 2,246.74 to 1,738.74, a loss of 507.99 points, the largest one-day stock market decline in history.

The markets had done well in the first half of 1987. In fact, the DJIA had gained 44 percent in just seven months, by late August. In mid-October, a series of negative news reports undermined investor confidence and led to additional volatility in markets. Plus, the federal government disclosed a larger-than-expected trade deficit, and the dollar fell in value. The markets began to unravel, foreshadowing the record losses that would develop a week later.

To address the crisis, then-Fed Chairman Alan Greenspan encouraged banks to continue to lend on their usual terms. He also affirmed, in October 1987, the Federal Reserve’s “readiness to serve as a source of liquidity to support the economic and financial system.”

As a result, stock markets quickly recovered a majority of their Black Monday losses. In just two trading sessions, the DJIA gained back 288 points, or 57 percent, of the total Black Monday downturn. Less than two years later, US stock markets surpassed their pre-crash highs. The DJIA closed out 1987 at 1,938.83 points.

As central banks cut interest rates, financial markets in the United States and Europe fully recovered. In fact, five years later, markets were rising by about 15 percent a year.

The Asian financial crisis of 1997

(The Dow fell from 7,715 to 7,161 and then rose to 7,908.)

In the fourth quarter of 1997, currency devaluations and economic instability in Asia impacted global financial markets. On October 27 and 28, 1997, the nation’s securities markets fell by a record absolute amount on then-record trading volume.

On Monday, October 27, the DJIA declined 554.26 points, from 7,715.41 to close at 7,161.15 — a loss of 7.18 percent. And then on Tuesday, October 28, market prices initially resumed their decline before rallying sharply. The DJIA closed up 337.17 points at 7498.32, an increase of 4.71 percent. The DJIA closed out 1997 at 7,908.30.

The dot-com bubble on March 11, 2000

(The Dow fell from 11,723 to 7,286 and rebounded to 10,022.)

The “dot-com bubble,” also known as the “internet bubble,” occurred from 1995 to 2001. That bubble burst in 2000 due to a combination of factors, including overvaluation of tech companies, an abundance of venture capital, a media frenzy and ultimately, a shift in investor sentiment as the reality of many companies’ lack of profitability became apparent.

As the World Wide Web became available to the general public, investors rapidly made significant equity investments in internet-based companies (dot-coms). That led to inflated market valuations and a subsequent market crash. This event was characterized by a rapid rise and subsequent fall in technology stock prices.

The Dow fell from 11,722.98 on Jan. 14, 2000, to 7,286.27 on Oct. 9, 2002, a loss of

37.8 percent. However, the DJIA closed out 2001 at 10,021.57.

Market declines after the 9/11 attacks in 2001

(The Dow fell from 9,606 to 8,921 and rebounded to 10,022.)

Also wreaking havoc on the markets in 2011 were the terrorist attacks on Sept. 11, 2001. The unprecedented terrorist attacks on American soil increased market volatility and investor anxiety and led to a sharp plunge in the stock market. The total loss in market value was $1.4 trillion. Following the attacks, the New York Stock Exchange and the Nasdaq remained closed until Sept. 17, the longest shutdown since the Great Depression.

On the first day of NYSE trading after Sept. 11, the DJIA fell 684 points, a 7.1 percent decline. At that time, it was a record for the biggest loss in the exchange’s history for a single trading day. (This record has since been eclipsed by the market reaction during the global coronavirus pandemic). The close of trading that Friday ended a week that saw the biggest losses in NYSE history.

The DJIA closed down around 684.81 points, from 9,605.51 to 8,920.70 — the biggest one-day point loss ever at the time. However, again, the DJIA closed out 2001 at 10,021.57.

The stock market crash of 2008–09

(The Dow fell from 11,143 to 6,470 and rebounded to 10,428.)

The 2008 financial crisis resulted from a convergence of multiple factors, including a glut of subprime mortgages a housing bubble, risky mortgage lending, complex financial products and inadequate regulation. The collapse of Lehman Brothers and the ensuing global financial crisis led to severe market downturns worldwide.

Between 2007 and 2009, U.S. households lost more than $16 trillion in net worth. Also, the value of the stock market fell by half, unemployment reached 10 percent and the crisis turned into the Great Recession. On September 29, 2008, the DJIA had a record- breaking drop of 777.68, from 11,143.13 down to 10,365.45 at closing. And then the DJIA hit a market low of 6,469.95 on March 6, 2009, losing more than 54 percent of its value since a high on October 9, 2007.

The bear market corrected on March 9, 2009, when the DJIA rebounded more than 20 percent from its low to 7,924.56 after only three weeks of gains. The Dow closed out 2009 at 10.428.05.

The Eurozone debt crisis of 2010

(The Dow fell from 10,444 to 10,068 and rebounded to 11,578.)

Triggered by high levels of public debt, this period of economic uncertainty in the Eurozone began in 2008 with the collapse of Iceland’s banking system. It then spread to Portugal, Italy, Ireland, Greece and Spain in 2009. Several of these countries, including Greece, Portugal, and Ireland had their sovereign debt downgraded to junk status by international credit rating agencies during this crisis, worsening investor fears. The crisis led to a loss of confidence in European businesses and economies.

On May 20, 2010, the DJIA fell 376.36 points, from 10,444.37 to 10,068.01 its biggest point drop since February 2009.

The crisis was eventually controlled by the financial guarantees of European countries, who feared the collapse of the euro and financial contagion, and by the International Monetary Fund (IMF). The DJIA closed out 2010 at 11,577.51.

The COVID-19 stock market crash in 2020

(The Dow fell from 27,554 to 20,188 and rebounded to 30,606.)

The 2020 stock market crash caused by the coronavirus began on February 20, 2020, and ended on April 7. The COVID-19 pandemic led to global economic shutdowns and investor panic. During this time, the stock market experienced the three worst point drops in U.S. history.

On Monday, March 9, 2020, the Dow fell 2,014 points, a 7.79 percent drop. On March 12, 2020, the Dow set another record by falling 2,352 points to close at 21,200. It was a

9.99 percent decline and the sixth-worst percentage drop in history. Finally, on March 16, the Dow plummeted nearly 3,000 points to close at 20,188, losing 12.9 percent. The drop in stock prices was so significant that the New York Stock Exchange suspended trading several times during those days.

The DJIA recovered, closing out 2020 at 30,606.48 points.

Record inflation in 2022

(The Dow fell from 32,911 to 32,273 and rebounded to 33,147.)

In May 2022, gasoline prices hit a record high, and the cost of food soared, leading to the largest annual increase in nearly 40½ years. There were growing concerns about a potential recession. The DJIA fell 638.11 points to end at 32,272.79 points.

By the end of 2022, the DJIA had rebounded to 33,147.25 points.

The banking crisis of 2023

(The Dow fell from 31,910 to 31,819 and rebounded to 37,690.)

Early in March 2023, a banking crisis took place after a rapid rise in interest rates caused the value of Silicon Valley Bank’s (SVB’s) bonds to plummet, as well as a “run” on the bank as depositors, fearing instability, withdrew their funds. In just a few days, SVB collapsed, along with Signature Bank and First Republic. They were among the biggest banks to fail in U.S. history.

The SVB downfall triggered the largest single-day bank run in U.S. history and led to aggressive action by the Federal Reserve, FDIC, Treasury Department and others to

prevent spillovers to the rest of the U.S. banking system. As a result of this crisis, the DJIA fell 90.50 points, from 31,909.64 to 31,819.14, a 0.3 percent loss.

The Dow closed out 2023 at 37,689.54 points.

As you can see, despite persistent negative media narratives that forecast economic downturns and market crashes, the Dow Jones Industrial Average has demonstrated remarkable resilience and growth over the past decades. At the end of March 2025, as usual, the headlines are full of negative news. However, on March 28th, 2025. the Dow was at 41,583.90.

As always, we encourage you to keep your eyes on your long-term vision at all times and avoid bailing out of the market out of fear. While there is no guarantee of investment success, historically, investors who have stayed the course and held onto their stock holdings when the market crashes have been rewarded later. Remember, investing successfully requires a long-term approach.

Any opinions are those of Randy Carver and not necessarily those of Raymond James. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.

Investing involves risk and you may incur a profit or a loss regardless of strategy selected. No investment strategy can guarantee your objectives will be met. Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment decision.

The stock indexes mentioned are unmanaged and cannot be invested into directly. Past performance is no guarantee of future results.

Looking Ahead: Why Market Volatility Can Be a Positive for Investors

The news continues to give alarming headlines warning about sharp market declines. It’s natural to feel uneasy about these swings, but what if volatility could actually benefit your portfolio and planning? The reality is, for those who take a long-term approach, volatility can create powerful opportunities.

At Carver Financial Services, we take a proactive and customized approach to managing wealth that can take advantage of short-term volatility.  We remain optimistic about the future of the markets and the broader economy. While short-term volatility may increase, we see this not as a threat but as an advantage for disciplined investors. Here’s why.

  1. Buying Strong Investments at Lower Prices

Market swings can drive fear-based selling, pushing even high-quality investments to lower prices. This creates a chance for patient investors to buy strong assets at a discount. For instance, during the COVID-19 downturn in early 2020, the S&P 500 dropped over 30% in just a few weeks. However, by the end of that year, the market had rebounded by more than 70%, rewarding investors who stayed the course or added to their positions.

Similarly, during the 2008 financial crisis, the S&P 500 lost over 50% of its value at its lowest point. Those who remained invested saw the market recover and eventually surpass pre-crisis highs within a few years.

  1. Portfolio Rebalancing for Long-Term Gains

Volatility can shift the balance of your investments. For example, if stock prices drop, your portfolio might become underweight in equities. Rebalancing during these periods—buying more stocks at lower prices—has been shown to enhance long-term returns.

Research from Vanguard has found that disciplined rebalancing during volatile periods can increase portfolio returns by up to 0.5% annually over time. By capitalizing on temporary price dips, you position yourself to benefit from future market recoveries.

  1. Tax-Loss Harvesting for Greater Efficiency

Periods of volatility offer opportunities to reduce taxable income through a strategy called tax-loss harvesting. By selling investments that have temporarily declined, investors can realize losses to offset other gains. These savings, especially for high-income investors, can significantly boost after-tax returns.

A study by Vanguard reported that tax-loss harvesting can add up to 1% in annualized after-tax returns for high-net-worth investors. Over the years, this can translate into substantial wealth accumulation.

  1. Reducing Risk from Over-Concentrated Positions

If you have a large portion of your portfolio tied up in a single investment, volatility may provide an opportunity to diversify. Selling during temporary price spikes can help reduce your risk without compromising your financial goals. This can protect your portfolio from the outsized impact of a single investment underperforming over time.

  1. Tax Planning Opportunities

For those with complex financial needs, market fluctuations present various tax management strategies:

  • Estate Planning and Gifting: Lower asset values during downturns allow for more tax-efficient wealth transfers to heirs.
  • Roth IRA Conversions: Converting traditional IRA assets to a Roth IRA during a market dip reduces taxes on the conversion. Once markets recover, these gains accumulate tax-free.
  • Capital Gains Management: Investors can manage gains during volatile times to benefit from lower tax rates or to strategically rebalance without incurring large tax consequences.

The Cost of Market Timing

Trying to time the market—moving in and out based on short-term movements—often leads to poor results. According to J.P. Morgan Asset Management, missing just the 10 best days of market performance over a 20-year period can reduce an investor’s total return by more than 50%. For example, if you had invested $10,000 in the S&P 500 from 2003 to 2023, you would have over $64,000 by staying fully invested. Missing only the 10 best days would have cut your total to just $29,708—a costly mistake.

Historical data also shows that many of the market’s best days occur soon after its worst days. By reacting emotionally and exiting the market during downturns, investors risk missing these critical recovery periods.

The Power of Long-Term Thinking

Short-term volatility can be unsettling, but history teaches us that the U.S. stock market tends to rise over time. Despite events such as the dot-com crash, the financial crisis, and the COVID-19 downturn, the S&P 500 has delivered an average annual return of about 10% over the past century.

It’s key to remember that you are not investing for the next few months but for the rest of your life.  The biggest risk is often inflation, not market volatility.  Investors who maintain a long-term perspective, remain invested, and follow a disciplined strategy are better positioned to achieve their financial goals.

Looking Ahead with Confidence

Despite near-term challenges like monetary policy shifts, geopolitical events, and fluctuating economic data, the long-term economic outlook remains strong. Innovation, corporate growth, and moderating inflation are all positive indicators for the future. We believe that volatility is not a risk to fear but a tool to leverage with the right strategy.

At Carver Financial Services, we emphasize staying invested and focused on your goals. With disciplined strategies like rebalancing, tax-efficient investing, and tailored portfolio management, we help clients turn market fluctuations into opportunities for success.

Key Takeaways

  • Volatility creates opportunities to buy high-quality investments at lower prices, rebalance portfolios, and implement tax-efficient strategies.
  • Tax-loss harvesting can increase annual after-tax returns by up to 1.0% (Vanguard).
  • Missing just the 10 best days of market performance over a 20-year period can reduce returns by more than 50% (J.P. Morgan).

In today’s fast-paced world, it’s natural to feel concerned amidst the constant media hype. At Carver Financial Services, we are committed to guiding you through these market conditions, tailoring strategies to meet your unique goals and needs. Our personalized approach to planning is designed to empower you, providing clarity and confidence in every step of your financial journey.

Whether you have questions, concerns, or are ready to discuss your aspirations, I invite you to reach out to me directly or connect with our team. There is no cost or obligation to meet—just an opportunity to align your financial plan with your vision for the future.

As we look ahead, market volatility and media noise are inevitable. The true opportunity lies in how you respond. Together, we can turn uncertainty into a pathway for growth and success.

Any opinions are those of Randy Carver and not necessarily those of Raymond James. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.

The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor’s results will vary.

Tax-loss harvesting involves certain risks, including, among others, the risk that the new investment could have higher costs than the original investment and could introduce portfolio tracking error into your accounts. There may also be unintended tax implications. Prospective investors should consult with their tax or legal advisor prior to engaging in any tax-loss harvesting strategy.

Unless certain criteria are met, Roth IRA owners must be 59½ or older and have held the IRA for five years before tax- free withdrawals are permitted. Additionally, each converted amount may be subject to its own five-year holding period. Converting a traditional IRA into a Roth IRA has tax implications. Investors should consult a tax advisor before deciding to do a conversion.

Changes in tax laws may occur at any time and could have a substantial impact upon each person’s situation. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.

Facts Not Fear – Perspective on the Markets & Economy

The media often paints an overly negative picture, stirring unease and influencing market sentiment. Recent market fluctuations are a case in point. Yet, beneath the headlines lies a powerful truth: the U.S. economy remains robust and resilient as we progress through 2025. The data—and even a casual glance at daily life—tells a story of strength and opportunity.

Restaurants are bustling, shopping centers are lively, and everyday activity reflects a thriving economy. Tune out the news or social media for a moment, and you’ll likely see it for yourself: things are going well. Our role is to help you cut through the noise, stay grounded in the facts, and pursue long-term financial success.

Key Highlights of the U.S. Economy in 2025

Strong Job Growth: The U.S. labor market continues to shine. The national unemployment rate dropped to 3.9% in February 2025, down from 4.1% in December 2024, according to the Bureau of Labor Statistics. February alone saw 151,000 new jobs added—exceeding forecasts and showcasing robust hiring across industries.

Inflation Cooling Off: Inflation continues its downward trend, easing pressures on consumers and businesses alike. The Consumer Price Index (CPI) rose by just 2.8% year-over-year in February 2025— the lowest since 2021—while core inflation (excluding food and energy) slowed to 3.1% (U.S. Bureau of Labor Statistics). This stability fosters a healthier cost environment.

Steady GDP Growth: The economy grew at an annualized rate of 2.3% in Q4 2024, fueled by vigorous consumer spending and business investment (Bureau of Economic Analysis). This momentum signals resilience amid global uncertainties.

Housing Market Stabilization: Home sales are rebounding, with existing home sales up 4.2% in February— the third straight month of gains (National Association of Realtors). Slightly lower mortgage rates have improved affordability, spurring buyer confidence.

Manufacturing and Business Expansion: U.S. manufacturing output rose 0.8% in February, buoyed by stronger demand and smoother supply chains (Federal Reserve). Meanwhile, small business optimism remains strong with the NFIB Small Business Optimism Index at 100.5 in February — that this is the fourth consecutive month above the 51-year average of 98 and is 4.4 points below its most recent peak of 105.1 in December

Tech Sector Boom: Analysts expect 2025 to be the biggest year for venture investing since the heady days of 2022, thanks to an overall optimistic view of the global economy. (Forbes.com 1/24/25)

These indicators paint a picture of a solid economic foundation with room for growth, investment, and prosperity as 2025 unfolds.

Many clients have expressed concerns about the potential impact of tariffs. Here’s my take: tariffs aren’t inherently negative. They’ve been a cornerstone of U.S. economic policy for over 50 years and will likely remain so. More often than not, they serve as a strategic tool rather than a fixed policy.

Historically, tariffs—or even the credible threat of them—have driven fairer trade deals. In the 1980s, tariffs on Japanese electronics paved the way for agreements that bolstered U.S. manufacturing. More recently, tariffs have pressured China to address trade imbalances and intellectual property issues.

Today’s proposals follow this playbook: they’re leverage, not an endgame.

Beyond negotiations, tariffs offer real benefits:

  • Protecting Domestic Industries: They shield American businesses from unfair foreign competition.
  • Boosting Jobs: By incentivizing production at home, tariffs spur hiring and investment in U.S. manufacturing.
  • Revenue Generation: Tariff proceeds fund critical areas like infrastructure, education, and workforce development.

Critics point to potential price hikes, but this overlooks the bigger picture. Tariffs can stabilize prices over time by fostering local production and insulating us from global supply shocks, a lesson learned during COVID-19. They’re not a silver bullet, but when used thoughtfully, tariffs strengthen trade fairness, national security, and economic independence.

It’s no wonder people are concerned given the negative media and polarized politics. However, 2025 isn’t a time to shrink back—it’s a time to lean in. Volatility will come; it always does. But for those who focus on the facts and the long game, this is a moment of opportunity. While there are certainly challenges facing the economy, we’re seeing growth, innovation, and a renewed sense of what’s possible. America isn’t just weathering the storm—it’s charting the course. Don’t let the media create unnecessary fear or worse, cause you to deviate from your financial plan.

Our entire team is here to help you make sense of it all. Together, we can turn uncertainty into action and build something lasting. Our entire team is here to help you seize these moments, answer your questions, and address any concerns.

Any opinions are those of the author and not necessarily those of Raymond James. This material is being provided for informational purposes only and is not a complete description, nor is it a recommendation. There is no guarantee that these statements, opinions or forecasts provided will prove to be correct. Investing involves risk and you may incur a profit or a loss regardless of strategy selected.

No investment strategy can guarantee your objectives will be met. Past performance is no guarantee of future results. Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment decision.

How to Live a Limitless Life: Master Your Mind and Defy the Odds

How to Live a Limitless Life: Master Your Mind and Defy the Odds

What if the only thing holding you back was your own mindset?

Most of us don’t realize that our biggest limitations aren’t external—they’re internal. The doubts, fears, and beliefs we carry shape our reality far more than circumstances do.  We all have them. The good news? You have the power to break free and live a limitless life.

A limitless life isn’t about having no challenges; it’s about overcoming them. It’s about mastering your mind, pushing past perceived limits, and taking action toward your biggest goals. Here’s how you can do it.

  1. Rewire Your Mindset: Your Thoughts Shape Your Reality

Your brain is constantly reinforcing the beliefs you hold. If you tell yourself, I’m not good enough, I don’t have the resources, or I’ll fail anyway, you’ll find evidence to support those thoughts. But if you shift to I can learn, I will find a way, and Every failure is a step toward success, you’ll begin to create opportunities instead of obstacles.

How to shift your mindset today:
– Start catching negative self-talk and replacing it with empowering beliefs.
–  Surround yourself with people who push you to think bigger.
–  Visualize success—not just the end result, but the small steps you’ll take to get there.

  1. Turn Setbacks into Stepping Stones

Failure is not the opposite of success—it’s part of it. Every challenge, rejection, or mistake holds a lesson that can propel you forward if you choose to learn from it.

Instead of asking, Why did this happen to me?, ask What can I learn from this? Resilient people don’t avoid adversity; they use it to grow stronger.

How to become more resilient:
– Reframe problems as opportunities for growth.
– Take ownership of challenges rather than blaming external factors.
– Build a habit of pushing forward, even when things get tough.

  1. Take Action—Even When It’s Uncomfortable

Most people wait for the “right time” to act. The truth? The perfect moment never comes. The most successful people don’t wait until they feel ready—they take action and figure it out along the way.

Every major accomplishment starts with one small step. You don’t have to know every detail of how you’ll reach your goal—just begin.

How to start taking action today:
– Break big goals into smaller, manageable steps.
– Commit to progress over perfection—imperfect action beats inaction every time.
– Set a deadline for your first step (and tell someone to hold you accountable).

  1. Cultivate an Optimistic Perspective

Studies have shown that optimism is linked to lower stress, better health, and even a longer life. People who believe things will work out are more likely to take risks, push through challenges, and ultimately achieve success.

Optimism isn’t about ignoring reality—it’s about choosing to focus on possibilities rather than problems.

How to develop an optimistic mindset:
– Practice gratitude—write down three things you’re grateful for each day.
– Seek solutions instead of dwelling on what’s wrong.
– Surround yourself with positive, action-oriented people.

  1. Make Growth a Lifelong Habit

A limitless life is a learning life. The most successful people are constantly seeking new knowledge, new skills, and new experiences. They don’t get stuck in what they already know—they expand beyond it.

Whether it’s reading books, seeking mentors, or stepping outside of your comfort zone, commit to continuous learning.

How to develop a growth habit:
– Read for at least 10 minutes a day on a topic that challenges you.
– Try something new that scares you—public speaking, a new hobby, or a new skill.
– Surround yourself with people who encourage growth.

  1. Give More, Live More

Living a limitless life isn’t just about personal success—it’s about making an impact. The more you contribute to others, the richer and more meaningful your life becomes. Giving back creates a sense of purpose and deepens your relationships.

Ways to give more and live more:
– Mentor someone who could benefit from your experience.
– Find ways to contribute to your community or a cause you believe in.
– Focus on relationships—true wealth is built in connections, not just achievements.

Are You Ready to Break Your Limits?

You don’t need permission to start living without limits. The power to change your life is already in your hands. It starts with a shift in mindset, a willingness to take action, and a commitment to never stop growing.

If you’re ready to break free from limitations and create a life filled with purpose and achievement, take the first step today.

You are capable of more than you think.

Now go make it happen.

Randy Carver, is the Author of 5 books including his latest Book – Limitless: Master your mind, defy the odds and achieve the impossible which is available on Amazon.

Any opinions are those of Randy Carver and not necessarily those of Raymond James. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.

A New Year’s Reflection: Three Keys to Happiness

As we begin 2025, many of us reflect on the lives we’ve built and the changes we hope to make. We make resolutions, set goals and envision a future that feels brighter, more meaningful, and, ultimately, happier. But what does it mean to be truly happy? What is the secret to living a life filled with joy, contentment and purpose?

After years of studying people, their stories, and their successes, I’ve come to believe that happiness is not as elusive as we sometimes make it out to be. It doesn’t require fame, wealth or perfection. Instead, happiness comes down to three simple but profound elements. As with many things in life, these are simple, but not necessarily easy, to acquire. 1.

1. Something to do

We are, at our core, creatures of purpose. Having something meaningful to do each day gives us direction and a reason to get out of bed in the morning. Whether it’s the work we do, the passions we pursue or the ways we serve others, doing something that matters fills our lives with energy and intention.

As you step into this new year, ask yourself these questions: “What makes my soul come alive? What gives me a sense of accomplishment or joy?” If you’re unsure, start small. Try something new to discover what your true passion is. Volunteer, pick up a new hobby or dive deeper into the work you already do. You’ll find that the act of doing — of creating, contributing and engaging — can transform even the simplest days into fulfilling ones.

2. Someone to love

Love is the heartbeat of happiness. The connections we share with others give life its richest meaning. Whether it’s the love of a partner, a child, a friend or even the bond we share with a community, relationships ground us, nurture us and remind us of who we are.

Take time this year to invest in the people who matter most. Be present in your relationships. Express gratitude, share laughter and hold space for deeper conversations. And remember, love isn’t just about receiving; it’s about giving — offering kindness, compassion and understanding to others, even when it’s hard.

3. Something to look forward to

Anticipation is a powerful thing. Knowing that something good is on the horizon — whether it’s a trip, a celebration or simply a quiet weekend to recharge — gives us hope and keeps us moving forward. Having something to look forward to fuels our spirits and reminds us that the best is yet to come.

This year, be intentional about creating moments to look forward to. It doesn’t have to be extravagant. Plan a coffee date with a friend, set a goal to achieve or mark your calendar for a day to do something you’ve always wanted to try. These small glimpses of future joy can bring light to even the darkest days.

A simple, powerful formula

Something to do. Someone to love. Something to look forward to. These three things might sound simple, but their impact is profound. When we anchor our lives around these principles, we create a foundation for lasting happiness — one that isn’t swayed by the ups and downs of life.

At Carver Financial, our mission is to make your life better. We are here to simplify your life and help you lead your best life. Whether it’s guiding you toward financial freedom, supporting your dreams or providing clarity in complex times, everything we do is centered around helping you achieve happiness and peace of mind.

As we embark on this new year, I challenge you to reflect on these three keys to happiness. Where do you feel fulfilled? Where do you see room to grow? And most importantly, what small steps can you take today to build a life that’s rich in purpose, love and anticipation? Think about how we can help you.

Remember, happiness isn’t a destination; it’s a journey. Let’s walk that path together, one intentional step at a time. Here’s to a year filled with doing what you love, loving who you’re with and looking forward to what’s to come. Happy New Year!

You can reach Randy directly at randy.carver@raymondjames.com and in the office at (440) 974-0808.

________

Randy Carver, CRPC®, CDFA®, is the president and founder of Carver Financial Services, and is also a registered principal with Raymond James Financial Services, Inc.  Carver Financial Services was established in 1990 with the vision of making people’s lives better — clients, team and community. With this mission, Carver Financial Services has grown to be one of the largest independent financial services offices in the country, managing $3 billion in assets for clients globally, as of November, 2024.

Any opinions are those of Randy Carver and not necessarily those of Raymond James. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.