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MONTH-2-MONTH
DECEMBER 2024
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MONTH-2-MONTH is intended to provide you with updates on AFP and timely financial planning and investment information on a variety of topics.
If you find our content useful, please forward this email to a friend.
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As we close out the year, we want to say how much we appreciate you and how grateful we are to have the opportunity to work with you. We wish you a peaceful and joyous holiday season and hope you create lasting memories in the company of those you hold dearest.
Happy Holidays from all of us at AFP!
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Christmas/New Years Holiday Hours – AFP will be closed on December 24th and December 25th in observance of Christmas. We will also be closing at noon on December 31st and will be closed on January 1st in observance of New Years.
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New Whiteboard – We have installed a new whiteboard in our conference room to assist with our planning meetings. We're looking forward to trying it out with all of you!
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New Years Reminder – Please keep in mind when scheduling an appointment that we do not hold client meetings during the first 15 days of January. We use this time to prepare for the new fiscal year and close out any remaining items from the previous year.
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My grandsons have been on a roll lately baking with Nana. First, it was pies for Thanksgiving and last weekend it was cookies for Christmas. I’m not sure what’s next, but I heard a great program on making cake! They have caught the bug of baking and it’s been very fun to do this with them. Our neighborhood has a progressive house gathering each December and it is so nice to be able to catch up with neighbors who have moved away but come back for this one-night event. I am in the choir at my church, we have been practicing since September to get ready for our Christmas Eve service next week. We really sound great! It’s a wonderful group of people to spend time with and experience a sense of joy. May you have a safe, warm, and meaningful holiday season. | | |
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December is always a busy and exciting month for us. Both girls have begun their new basketball seasons. I’m coaching Ainsley’s K-1st girls team, which is always fun. We’re learning fundamental skills like dribbling, passing, shooting, and some rules like out-of-bounds and traveling. The girls seem to be having a lot of fun and they’re learning quickly.
Ellie is in the choir and one of the background actors for her school’s production of The Sound of Music this spring.
Ainsley had her first piano recital last week where she played two songs for around 35 people. While she was nervous in front of so many people, she did a great job and is rightfully very proud of her performance.
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Last month I had the privilege of attending the Schwab Impact conference in San Francisco. I’d never been to San Fran and not to California since I was a toddler. We spent most of our time at the convention center, but did make time to visit Ghirardelli and the Palace of Fine Arts where the conference wrapped up with a Train concert. The conference programming was inspirational, and I am energized with new ideas. I’m looking forward to celebrating Christmas with family and the simplicity of spending time together. Best wishes for a memorable, holiday season celebrating the traditions that are meaningful to you. May the New Year be good to all! | | |
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Ghirardelli store Christmas display | |
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I've been managing to keep pretty busy so far this month. I spent most of my free time last week Christmas shopping. I’m more or less done now, but it’s amazing how time consuming it ends up being each year. I did have a chance to see the Blue Jackets play the Flyers earlier this month with my dad. We clearly need to get better at picking games as the Jackets looked pretty lifeless in a 5-3 loss, with most of our goals coming after the game was out of reach. | | |
Current Economic and Investment Information
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FEELING THE PINCH – Credit delinquencies in October 2024 increased relative to the start of 2023, and the largest percentage of increases has been among higher income consumers. While middle-income consumers have seen a 63% increase in the percentage of accounts that are 60 - 89 days past due, the same category has more than doubled (+106%) for consumers with incomes greater than $150k. (Source: Vantage Score)
OKLAHOMA! – Recently released GDP data showed that among cities with populations of over a million, Oklahoma City was the fastest growing US metro area with 6.9% GDP growth in 2023. On the flip side, Richmond, VA and Rochester, NY were the two slowest growing major metros. (Source: Bureau of Economic Analysis)
COST OF NOT KNOWING – The average American estimated that they lost roughly $1,500 due to a lack of knowledge about personal finances in 2023. That equates to around $388 billion in losses for US adults during the year due to financial illiteracy. (Source: National Financial Educators Council)
COMMERCIAL ELECTRICITY DEMAND – Residential electricity demand grew just 1.1% in the three years ending August 2024, but demand from commercial customers, including data centers, grew 10.9%. PJM, who manages the power grid across 13 mid-Atlantic states and D.C., expects to see its load growth increase by 33% through the mid-2030s... entirely driven by data centers. (Sources: PJM, Federal Reserve)
FED CUTS INTEREST RATES – The Federal Reserve lowered interest rates by another 0.25% on Wednesday, December 18th. This sets the rates at roughly 4.4% and marks a nearly 1% decrease from the peak of 5.3%. This is the third and final rate cut for 2024 with the Fed signaling up to two more possible rate cuts in 2025. (Source: Federal Reserve)
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Age Divide in High-Net-Worth Giving
While nine in ten high-net-worth Americans across the age spectrum
donate to charity, there are clear disparities in how older and
younger donors approach their giving.
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Click here to view the source. | |
Tips for Taking Control of the Holidays
(So They Don't Take Control of You)
By Mayo Clinic Press
Source: The Mayo Clinic
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While the holiday season can be filled with joy and wonderful moments with family and friends, for many it often also brings unwanted guests — stress and anxiety. A long list of to-do’s and demands on our time, finances and expectations can all add up. Not to mention managing continued worries and uncertainly about COVID-19. The good news? With some practical tips, you can help minimize the holiday stress and find more time for enjoyment.
Taking some simple, conscious steps can help minimize or even ward off situational holiday stress and depression.
Click here to read this article.
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Personal Cybersecurity: 23 Tips and Best Practices
By Violeta Lyskoit
Source: NordVPN
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Personal cybersecurity is the shield that protects your most valuable digital assets — your personal information, financial details, and online identity. It creates a protective barrier that keeps your online presence safe from hackers, scammers, and identity thieves. In this article, we’ll share 23 tips on how to improve personal cybersecurity and keep your online activity secure from prying eyes.
Personal cybersecurity doesn’t have to be complicated. Simple steps like creating stronger passwords and being careful with emails from strangers can go a long way. By following personal cybersecurity best practices, you can lower the risk of identity theft, online scams, malware, and other cybersecurity threats.
Click here to read this article.
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Do you know someone who can benefit from
FINANCIAL PLANNING?
At Alexander Financial Planning, we are passionate about financial life planning. We also know that it is not just about the numbers. While numbers are important, they are there to support your hopes, dreams, and desires. When we can put all the components of financial planning together, (cash flow, insurance, investing, taxation, and estate planning) your unique picture of a path forward comes into view. For 27+ years, we have been helping individuals and families develop their plan and navigate the twists and turns each year.
Whether you’re planning for retirement, becoming an empty nester, or navigating how to take retirement distributions, we are your thinking partner. We are here to make sense of it all, one step at a time. If now is the time for you or someone you know to get serious about your financial future, contact us. We’d love to be of service.
WHAT SETS US APART
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“The joy of brightening other lives becomes for us the magic of the holidays.”
- W.C. Jones
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Alexander Financial Planning
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3600 Olentangy River Rd, Ste. C2
Columbus, OH 43214
614-538-1600
Office Hours:
Monday–Friday: 9:00 AM – 5:00 PM
Registered Investment Advisor
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This material is distributed by Alexander Financial Planning, Inc., (AFPI) and is for information purposes only. Although information has been obtained from sources we believe to be reliable, we do not guarantee its accuracy. It is provided with the understanding that no fiduciary relationship exists because of this report. Opinions expressed in this report are not necessarily the opinions of AFPI and are subject to change without notice. AFPI assumes no liability for the interpretation or use of this report. Financial planning, investment conclusions, and strategies suggested in this report may not be suitable for all investors and consultation with a qualified advisor is recommended prior to executing any investment strategy. No portion of this writing should be construed as legal or accounting advice. All rights reserved.
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© Alexander Financial Planning, Inc.
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