From Joe
Just got back from Scotland, and I’m still thinking about it. The Johnnie Walker distillery tour was one of the best experiences I’ve ever had. If you ever get the chance, do not skip it.
We spent a few hours at Edinburgh Castle, played three days of cold, rainy, incredible golf, and logged about 20,000 steps a day. The cocktails were some of the best I’ve had anywhere. We ate at Dunvegan and The Criterion, and had a beer at the Jigger Inn on the Old Course.
One of those trips you don’t forget.
"Wealth without family and traditions is just numbers. We build legacies here."
The numbers matter. But they’re not the point.
The point is who you’re building them for. Your family, your traditions, and the things you want to pass down.
That’s what drives every conversation I have with a client. If that’s the kind of advisor you’ve been looking for, let’s talk.
May Market Update
Here's What You Need to Know
Here’s a quick snapshot of how markets moved recently:
Stocks kept climbing.
The S&P 500 gained 5.3% in May and the Nasdaq 100 surged 10.6%, pushing both to new record highs. Strong earnings and continued momentum in AI investment drove the bulk of those gains.
Inflation is still in the picture.
April’s CPI came in at 3.8% year-over-year, the highest since 2023, with energy prices accounting for more than 40% of that increase. The Fed’s preferred inflation gauge told a similar story. Rate cuts in 2026 are looking less likely for now, and that’s worth factoring into how you’re thinking about your plan.
Markets and Main Street are telling different stories.
Consumer sentiment dropped to a record low of 44.8 in May, with more than half of respondents pointing to high prices as a strain on their finances. Strong index numbers don’t always reflect what people are actually experiencing day to day. Both things can be true at the same time, and a good plan accounts for that.
U.S.-China talks made headlines.
The first U.S. presidential visit to China since 2017 produced some trade agreements, including commitments to purchase Boeing jets and agricultural products. Tariffs and Taiwan remained unresolved. Worth watching, not worth reacting to.
Want the full May breakdown?
What We're Watching Right Now
A few things worth paying attention to this month:
Markets at New Highs.
U.S. stocks closed May at all-time highs, capping a strong two-month run. When the market moves like this, it’s a good time to make sure your portfolio still reflects where you are — not where you were. We’re happy to walk through that with you.
Signs of Life in the Job Market: What It Means for Investors
The SpaceX IPO.
SpaceX has filed for what could be the largest IPO in history, targeting up to $75 billion. Big market moments like this generate a lot of noise. Our team breaks down what it actually means if you’re focused on the long game.
The Biggest IPO Ever? What SpaceX Means for Your Portfolio
Social Security and Retirement Tax Updates.
2026 has brought more changes to Social Security and retirement income rules than most years. A new $6,000 deduction is now available for those 65 and older (up to $12,000 for joint filers), and RMD rules vary depending on your birth year. These changes can affect how much tax you pay in retirement and how you pull from your accounts. It’s worth a conversation to make sure your plan reflects the current rules.
Retirement Tax Traps to Watch in 2026
Energy Prices and the Iran Situation.
Oil prices are down roughly 20% from their 2026 highs as U.S.-Iran ceasefire talks have progressed. The situation is still fluid, and markets are watching closely. Energy costs have been one of the bigger inflation drivers this year — how this plays out will matter for gas prices and the broader economy through the rest of 2026.
Oil Drops 20% From 2026 Peak on Ceasefire Optimism
All of this is a reminder that your plan should reflect where things stand today, not where they were a year ago.
For more, visit the Prime Capital Financial blog.
Joe Harrish
