Divyesh Sharma Wealth Management Advisor

12/20/2023

🍽️📊 As we head into 2024, here's a glimpse at some food and drink trends that experts predict will make waves:

▪️ Consumers are increasingly favoring food with processing terms like "stone-ground," "cold-pressed," and "fermented."
▪️ Luxury experiences and premium food and drinks are in high demand among Gen X and Boomers.
▪️ Bots and automated cooking are heating up in the kitchen.
▪️ Classic dishes like Chicken à la King are getting a gourmet makeover.
▪️ Dip is back on the menu, from high-end restaurants to casual eateries.

While these trends offer a glimpse into our culinary future, they also remind us of the economic factors shaping our food habits. As a financial professional, we're here to help you navigate these economic shifts. Here's to a delicious and financially savvy 2024! 🥂🎉



Source:

What food trends and drink trends will we see in 2024? We sorted through food trends reports from some of the biggest players in the game, talked to chefs and experts, and kept our eyes and mouths open so we could bring you our predictions for 2024 food trend and drink trends.

09/13/2023

🔎 Some experts suggest we may be experiencing a "richcession" rather than a broad contraction.

👩‍💻This means that job losses have disproportionately affected white-collar workers. While white-collar jobs may be on the decline, the broader economy is still doing well—the U.S. economy is experiencing positive growth and a strong labor market.

💳 However, many Americans are feeling the impact of higher prices and relying on credit cards to make ends meet. Financial well-being is deteriorating, with high credit card debt and a majority of Americans living paycheck to paycheck.



Source:

Some economists say the country is already experiencing a "richcession," rather than a broad contraction to come later.

08/07/2023

07/19/2023

Tired of "tipflation"? It's time to talk about the tipping backlash!

According to Bankrate, 2/3 of Americans now hold a negative view of tipping, and the number of consistent tippers is declining.

💻💡 Digital payments and automatic tipping prompts are fueling the frustration.

⚖️ Eliminating tipping practices is challenging, as restaurants that replace tipping with higher menu prices often face negative online ratings, warns Professor Michael Lynn from Cornell University.

Let's look at a real-world example: Molly Moon Neitzel, owner of Molly Moon's Ice Cream Shop, shares her annoyance with the tipping culture. It's awkward and never feels good!

🔌Technology has made it easier for non-traditional businesses to discreetly request tips through electronic bills, avoiding awkward in-person interactions.

💳 At Molly Moon's, credit card processors benefited the most from tips, but disparities in pay were revealed, with Black employees earning less.

Molly Moon's took action, offering a minimum wage of $21/hr, comprehensive benefits, and adjusted prices to ensure fair compensation.

Shifting the money flow while providing fair wages and benefits—customers didn't end up paying more overall!


Source:

A recent survey suggests two-thirds of Americans hold a negative view of tipping.

07/06/2023

Individual investors becoming more upbeat about stock prices, there's still much skepticism. It can be challenging to break from a bearish mindset if you've been in that camp for a while.

05/31/2023

There's an old saying that "close only counts in horseshoes and hand grenades." In this case, we're close to technically being in a bull market, but not quite there yet. As stock prices rise, investors can start to feel pressure to join the rally. But it's important to stick to your own personal investment strategy and not move in and out of market due to a feeling or a positive headline.