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To My Readers,
“The stock market is the only market where things go on sale and all the customers run out of the store....”
Instead of looking at your account balance, look at the amount of shares you have accumulated this year! As the market goes down, your consistent contributions are able to buy more shares. When markets eventually recover, you will now own more of that recovery because you were buying on sale.
Thank you, Sid Misra, CFP® Beacon Financial Group
If you know someone who would find this info beneficial, please don’t hesitate to forward this newsletter on to them.
The Federal Reserve and How it Affects All of Us
There have been many questions about the federal reserve and how their decisions affect all of us. I thought it would be a good idea to do an explainer YouTube video about the fed that will hopefully help you understand what they do, how they do it, and what the recent moves mean.
Watch: The Federal Reserve and How It Affects All of Us
New YouTube Videos Check out some of my new videos on YouTube! Ignore These Outdated Financial Rules of Thumb
Ask a Financial Advisor: Pre-tax vs Roth? How Do I Decide?
By The Numbers US Gross Domestic Product grew at a 2.6% annualized rate (adjusted for inflation) in the 3rd quarter of 2022
The Federal reserve is expected to raise rates another 75 basis points (0.75%) by year end to take the Federal Funds Rate up to 4%
Inflation adjusted contribution limits for retirement accounts have been increased for 2023
o 401k/403b/457 - $22,500 for those under the age of 50
$30,000 for those age 50+
o Traditional/Roth IRA - $6,500 for those under the age of 50
$7,500 for those age 50+
How would you rather spend your time?
With family, friends, and other loved ones?
Researching investments, tax strategies, and all of the other financial knowledge required to secure your finances?
If you answered family/friends, it probably makes sense for you to hire an advisor.
If you answered investments, strategies, etc, then you are probably a DIYer.
**There is no right or wrong answer**
What we do isn’t rocket science, but it does take a lot of time and knowledge to put all of it together.
If you’d prefer to do it yourself, then by all means you should.
But if planning and managing your finances sounds like a hassle or something you want to outsource to a professional, then maybe it’s time to speak with someone you trust.
Find what works for you, but make sure your finances are taken care of.
The opinions voiced in this material are for general information only and are not intended to provide specific advice financial or tax recommendations for any individual.
All performance referenced is historical and is no guarantee of future results.
All indices are unmanaged and may not be invested into directly.