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MONTH-2-MONTH
NOVEMBER 2022
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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 e-mail to a friend.
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As November rolls along, with it comes falling leaves, cold, crisp air, and the start of the holiday season. It’s a nice break between the start of the school year and the holiday shopping rush. With Thanksgiving less than a week away, many are beginning to gear up for family visits and planning their Thanksgiving Dinner. Will you be the one traveling or the one hosting this year? Just remember to appreciate the presence of friends and family as much as you appreciate the food.
Happy Thanksgiving and safe travels from all of us at AFP!
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Covid Policy Update – We are hosting in-person meetings with clients that have been fully vaccinated with a booster shot. We will continue to conduct meetings via Zoom as well for those clients that prefer it. Please make sure to indicate your preference for either a Zoom or an in-person meeting when scheduling.
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Mail Issues – We have been getting our mail with more consistency recently, however delivery is still somewhat sporadic. Please keep this in mind going forward when sending us mail, as it may take a while for us to receive it.
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AFP Webinars – There will be no more AFP webinars in 2022. We plan on having our next webinar at the end of January. Stay tuned for details!
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AFP Website Webinars Page – Visit our website to view all of our previous webinars. All future webinars will be posted here as well. Click here to view.
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FYI
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Cybersecurity Alert – Please make sure that you do not send emails with personal information in them. This includes tax, financial, and banking information. Emails are not secure and your information could be intercepted, possibly leading to identity theft.
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Agreement Updates – In April/June we sent out a number of revisions to our agreements. We have received most of them back, however a few of them are still outstanding. If you have a contract update from AFP that you have not returned, please make sure you get it sent to us as soon as possible.
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Beneficiary Updates – Now is a good time to check that your beneficiaries are up to date. We have been contacting clients to get theirs updated, with mixed success. Please double check to make sure your beneficiaries are current.
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Teri is currently away on vacation exploring the world.
Since she will be unable to provide us with vacation photos, we have included photos from some of her previous vacations instead.
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Teri joins Gertrude Bell's Egyptian expedition | |
Teri discovers the Americas | | |
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This past month we tried to take advantage of the few remaining warm days before winter sets in. We made the drive out to Utica and stopped by Ye Olde Mill. The ice cream never disappoints, and on this particular day they had a food truck serving some delicious Mediterranean food. It’s always a good day when you can have a warm gyro. Afterward, we headed down the road to Legend Hills Orchard where we wandered the orchard and filled our bag with a variety of apples. If you enjoy picking your own apples, I highly recommend Legend Hills – it’s a quiet place where you can enjoy strolling around the orchard picking any type of apples that look good. Of course we picked up some fresh cider on our way home as well. The girls immensely enjoyed Halloween. Ellie dressed up as a police officer and Ainsley as a princess. I’m quite sure their candy will outlast the year. There must be some sort of law against mixing Halloween and Christmas candy. | | | |
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October ended with pumpkin carving, beggars night, and Cayleigh performing in the UAHS Orchestra Spooktacular Show. November started with a trip to Denver. I had the opportunity to attend the Schwab IMPACT Conference. There were several presentations about the transition of TD Ameritrade to Schwab happening next year. I experienced a tour of the Denver Performing Arts Center, which included intimate string and wind instrument performances. The conference ended loud with a Darius Rucker concert.
Since returning from Colorado, it has been status quo at home. We are managing home, work, and school responsibilities. We’ve been raking leaves and stacking firewood. Andy gave Cayleigh and I two tickets to a CBJ game and the Jackets won!
We are preparing to host Thanksgiving at home and looking forward to enjoying the company of our family. The menu always consists the same list of family favorites. Whether you are near home or traveling far, we wish you the nicest Thanksgiving shared with those dear to you!
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I had the opportunity to visit Denver to attend the IMPACT Conference hosted by Charles Schwab. I feel I was able to learn a good amount about the industry and also get some valuable information about the TDA to Schwab transition. As part of the conference, I was able to go on a few different guided tours. I got to tour the Denver Broncos stadium, a local brewery, and the Denver Performing Arts Center. Since returning to Columbus, I attended the Blue Jackets win against the Flyers last week and on Saturday I went to the Ohio State vs. Indiana football game with my dad. | | |
Current Economic and Investment Information | |
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SAVER'S TAX CREDIT – Married couples contributing to a DC plan or IRA in 2022 that have an adjusted gross income (AGI) under $68,000 and single contributors with AGI less than $34,000 may be able to claim a tax credit of up to 50%, or up to $1,000. However, only 41% of workers with household income below $50,000 knew about the tax credit in 2021. (source: Transamerica Center for Retirement Studies).
INFLATION DOWN – The U.S. inflation rate dropped to 7.7%in October, which was down from 8.2% in September and from 9.1% in June (the highest the inflation rate in four decades). According to the consumer-price index, prices for most goods and services remained much higher than during 2021, however the pace of those increases is starting to ease. (source: Wall Street Journal).
RETIREMENT SAVINGS – 68.6 million households (52.3%) owned mutual funds in 2022 –representing 115.3 million individual investors. Households across all income levels own mutual funds, however ownership is higher amongst older generations. Baby Boomer households hold the largest portion of mutual fund assets. Gen X and Millennial households are more likely to hold mutual fund assets only inside employer-sponsored retirement plans. Nearly all mutual fund-owning households are focused on retirement saving, with many purchasing their first through a work retirement plan (source: Investment Company Institute).
BEAR MARKET FREQUENCY – A bear market is defined as a stock market decline of at least 20%. Over the 75+ year period from 1946 through June 13, 2022, the stock market has had 12 declines of at least 20%, or one every 6.33 years on average.
AVERAGE BEAR LENGTH – Since 1950, the decline of a bear market has lasted an average period of 15-months and has resulted in an average index fall of 34%.
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Safely Using Payment Apps
Online payment systems or apps like Zelle, Venmo, and CashApp let you quickly send and receive money. If you link the service to your bank account or debit card, it’s almost like handing someone cash..
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Click here to view the source. | |
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Investment Scams Targeting Seniors Have Skyrocketed Since 2020
By Kenneth Corbin
Source: Barron's
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Scams targeting the elderly have proliferated during the pandemic, with losses from three popular types of frauds seeing triple-digit percentage spikes over the past two years, according to a new report from the Federal Trade Commission.
Some of those scams are directly related to the pandemic—shady businesses promoting bogus Covid treatments, for instance—while others found fertile ground in the general confusion and economic dislocation of the past two years.
Click here to continue reading this article.
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2022 Year-End Tax Planning Checklist
By Hayden Adams, CPA, CFP® and Alex Haun, CFA, CAIA
Source: Charles Schwab
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Now is an ideal time to consider year-end tax planning strategies to potentially reduce your taxes and help you achieve your long-term financial goals. Review the checklist below and consider which strategies apply to your personal situation. Then, consider working with a financial and/or tax professional to ensure the strategies suit your overall financial plan.
Click here to continue reading this article.
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“When I started counting my blessings, my whole life turned around.”
- Willie Nelson
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Alexander Financial Planning |
1621 W. First Avenue
Grandview Heights, OH 43212
614-538-1600
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. | | |
© Alexander Financial Planning, Inc. | |
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