Annual Letters

“The ultimate form of preparation is not planning for a specific scenario, but a mindset that can handle uncertainty.” – James Clear “Your family is broken but you’re going to fix the world.” – Naval Ravikant  The Ceiling The main challenge of 2025 wasn’t markets, unique client situations, or asset growth. It was a founder…
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“Most people think things are going to get easier…. It never gets easier. So make yourself a person that ‘handles hard well’.” – Kara Lawson, Duke coach   “In this world you will have trouble, but take heart! I have overcome the world.” – John 16:33   Handle Hard Better 2024 was a year of…
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Life and the outcomes of our days can either be seen through the lens of gain or gifts.  As I reflect back on this year, there were times, I admit, when I was overwhelmingly frustrated with myself, my work, and my health. When the results of the day didn’t seem to meet my expectations, I…
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In 2022, the markets decided to test everyone’s resolve including this new business in its second full year. The S&P was down -18.0% and US treasury bonds had one of their worst years ever (-17.8%). As I’ve covered extensively in my quarterly market overviews and blog posts, there was torment everywhere. No need to sugarcoat…
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The Roots Come First 2021 marked the first full calendar year of Birchwood Capital. When people ask me how business is going, they tend to focus on the flexibility and freedom owning your own firm offers. At 30,000 feet, what we do is simple and exciting – help people retire with confidence. And there are…
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