Election Year Economics: 2024 Financial Planning for Tribes

Insight in Indian Country Podcast

Trusted Expertise to Serve Tribal Nations

What exactly is a “soft landing” in the economy? This episode, REDW National Tribal Practice Leader Wes Benally and Wealth Management Principal Paul Madrid are discussing economic outlook for Tribal Nations in 2024, covering potential economic slowdowns, inflation outlooks, fixed income investments, and more. 🎧 Tune in for expert insights on financial planning. 💸🫰

Chapters

00:00 Introduction
01:48 Economic Slowdown and Soft Landing
06:18 Considerations for Financing Projects
08:31 Maximizing Cash on Hand
12:41 US Equities and Non-US Equities
16:59 Reevaluating Risk and Asset Allocation
20:36 Risks in an Election Year
25:29 Considerations for Inflation
26:51 Final Thoughts

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Episode Takeaways

• A soft landing in the economy is a slowdown without a recession, and it is the current expectation for 2024.
• When considering financing for projects, it may be beneficial to wait for interest rates to potentially decrease or explore floating rate loans.
• Having excess cash on hand can be an opportunity to generate income through investments such as US government bonds.
• Diversifying equity investments within the US and non-US markets can help manage risk and capture potential upsides.
• Regularly reevaluating risk and asset allocation is important to ensure alignment with financial goals and minimize surprises.
• Election years can bring volatility to the market, so it is important to be prepared and consider diversification.
• Inflation is an important metric to consider when budgeting and making financial decisions.
• Regularly reviewing and adjusting financial strategies with the help of an advisor can help optimize financial outcomes for Tribal Nations.

Meet Your Host

Wesley Ryan Benally, CPA

REDW Principal and National Tribal Practice Leader

As the leader of REDW’s National Tribal Practice, Wes is committed to improving financial literacy throughout Indian Country and hosts the Insight in Indian Country Podcast. He oversees audits of a wide range for Native American communities, state and local government agencies, and non-profits, nationwide, is a member of the Arizona State Board of Accountancy’s Peer Review Oversight Advisory Committee and serves as an instructor with Arizona State University’s American Indian Policy Institute. In addition, as a Board member for a tribal gaming entity that operates in two states, Wes keeps up with regulatory issues important to tribal gaming operations. Wes is an enrolled member of the Navajo Nation.

Compensation Studies—Your Key to Hiring & Retaining Top Talent.

It’s important to attract—and retain—the best employees to ensure the long-term success and sustainability of your tribal organization. And given an exceptionally competitive labor market and the usual budget constraints, this means basing your employee compensation and benefits programs on relevant and reliable data.

The results are in! Learn more about REDW’s Tribal Compensation Survey Reports for Tribal Governments and Tribal Gaming.

More from Insight in Indian Country

• 2025 Tribal Leadership Conference
  From June 23-26, 2025 in Las Vegas, REDW will be joining with tribal leaders nationwide to share knowledge and insights on ways to ensure a prosperous future for tribal communities.
• Watch: Ransomware: Are You on a Hacker’s Hit List?
  Join the Cybersecurity experts from REDW for an interactive webinar that offers five critical defense strategies for safeguarding your Tribal organization, plus our free Cyber Incident Response Playbook.
• NAFOA 43rd Annual Conference
  From April 28-29 in New Orleans, REDW will be joining with tribes, state and federal government officials, and leading industry experts to discuss the latest economic issues in Indian Country.
• The true cost of reactive internal controls in tribal gaming operations.
  As tribal casinos handle more cash than most banks, proactive security measures have become crucial for protecting assets and communities.
• Oklahoma Tribal Finance Consortium 2025 Spring Conference
  As a proud supporter and sponsor of the OTFC, REDW will be both speaking and exhibiting at this event.

© 2024 REDW Wealth LLC. This publication is intended for general informational purposes only and should not be construed as investment, financial, tax, or legal advice. Information and instruction shared in the article above do not guarantee outcomes, performance, or quality of services provided to REDW Wealth Management clients by REDW Wealth Management or its employees. Adherence to our fiduciary duty is not a guarantee of client satisfaction or any particular outcome. Advisory, Assurance, and Tax is offered through REDW LLC. Wealth Management is offered through REDW Wealth LLC.