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MONTH-2-MONTH
NOVEMBER 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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After an unseasonably warm September and October, November at last brings cool, crisp air and falling leaves to the Midwest. The panoply of colors provides a beautiful backdrop for the holiday season. This time of year, we reflect on what we’re most thankful for. Family, friends, good health, and more.
We’re thankful that you are a part of our lives,
and we feel privileged to be part of yours.
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Thanksgiving Holiday Hours – AFP will close at noon on Wednesday, November 27th and remain closed Thursday, November 28th and Friday, November 29th in observance of Thanksgiving. We will reopen on Monday, December 2nd.
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Charles Schwab IMPACT – This week Teri and Tracey are attending the annual IMPACT conference, hosted by Charles Schwab, in San Francisco. This conference affords us an opportunity to gain the latest knowledge and insights from industry leaders to further enhance our clients' lives.
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No More Webinars in 2024 – AFP will not be hosting a webinar in November or December. Stay tuned for more info about our slate of 2025 webinars.
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I am proud to say I completed another ½ Marathon in October, just don’t ask me my time! Moving into November, I’ve spent some time with my sister and her family. My kids took me out for a Birthday Brunch, and we had a wonderful time. Two of them have also been working on creating a lift in my garage. I am hoping their plan works and I can use it in the next few weeks. It’s been a work in progress for a few years, but it is finally coming together. I spent a few days at our annual Financial Transitionist gathering in Florida last week focused on our work of bringing the technical and personal sides of financial planning together and saying goodbye to a board member, Courtney Pullen. I hope you all have a safe and enjoyable Thanksgiving. I am grateful to all of you and the opportunity to teach my son and grandsons how to make pies this year! | | | |
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November has been a quieter month for us – a bit of a lull between other activities. Ellie has auditioned for the school musical, The Sound of Music. We’re waiting to hear back on the results. Ainsley is doing very well with her piano lessons and just “graduated” to her second book. She’s also looking forward to starting basketball in a few weeks. I’m trying to knock out a couple of books this month: “Unbroken” by Laura Hillenbrand and “Just Mercy” by Bryan Stevenson. I’m about halfway through both at the moment. I recommend both books, but neither are “light” reading. | | | |
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We landed in Cincinnati last month after making last minute plans, enjoying a few days with Cassidy. Cass moved to Cincy last fall, and we found a great campground close by. Highlights were golfing at an elevated course with amazing views of the Queen City and touring the Buffalo Trace Distillery in Frankfort, KY. We spent an evening exploring Jungle Jim’s, which probably has everything imaginable, if one knew what they needed or wanted. Next time I will be better prepared with a shopping list. Warm wishes to all for a Happy Thanksgiving shared with family and friends. | | | |
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Now that the NHL season Is underway, I’ve gotten a chance to attend my first Blue Jackets game of the season with my dad. We got to see the Jackets beat up on the perennially overrated Toronto Maple Leafs (the NHL’s answer to Notre Dame football) by a score of 6-2. While the Jackets are young, and very inconsistent, they’ve managed a handful of big wins this season.
Later this month, my dad and I plan on attending ‘The Game’ at the Shoe. I’m looking forward to seeing how well that team up north manages to play when they don’t have access to all of Ohio State’s plays/signals ahead of time.
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Current Economic and Investment Information | |
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AGING FIRST-TIME BUYERS – The median age of first-time homebuyers hit a record high of 38 this year compared to 35 last year, while first-time buyers decreased to a record-low 24% of market share compared to 32% a year ago. (Source: National Association of Realtors)
CONTRIBUTION CAPS RAISED – On 11/1, the IRS announced that the maximum amount individuals can contribute to their 401(k) plans in 2025 will increase from $23,000 up to $23,500. For individuals over the age of 50, the maximum annual catch-up contribution will remain $7,500, while the limit on annual IRA contributions will remain capped at $7,000. (Source: IRS)
CORE CPI STAGNATES – Core consumer price index (CPI), which excludes food and energy prices, rose 3.3% year over year (y/y) in October, marking the sixth straight month of readings between 3.2% and 3.4%. When backing out rent, which makes up roughly 40% of the inflation gauge, Core CPI is only up 1.1% y/y. (Source: Bureau of Labor Statistics)
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PCE & GDP Growth
The Federal Reserve initiated its first rate cut this past September with the understanding it would reduce interest rates by 1/2 of a percent in November and in December. New economic data along with the election results could shift this thinking. Both growth and the labor market are tracking stronger than the Fed anticipated, presenting the possibility of upside risk to inflation.
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Click here to view the source. | |
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The People to Speak to Before You Retire
- and the Key Questions to Ask Them
Too often, the decision to leave work is made in isolation, without getting
the advice of others who know you. That's a mistake.
By Bruce Horovitz
Source: The Wall Street Journal
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This article does a great job of helping one think outside the box when facing a significant life transition – retirement. Seeking knowledge from others can shine a light on some blind spots you may not be aware of. It broadens the lens. As mentioned, so often these conversations begin with your financial advisor, and we know it’s not all about the numbers. Advisors trained in helping clients navigate change, as we are, start by providing a safe space to explore not just the technical side, but also the personal side of this transition.
Click here to read this article.
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Gift Tax: 2024-2025 Annual Limits and Exclusions
Gift tax is a federal tax on the transfer of money or property to another person.
Thankfully, because of annual and lifetime limits, few people end up owing it.
By Tina Orem
Source: NerdWallet
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Tis the season when the question of giving, heading into the holidays, is often asked. This article provides practical information on gifting and a more in-depth understanding of the tax ramifications. Under our current tax code, few people need to be concerned with their lifetime gift exclusion. But it is good to know what it is and how it works.
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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“November is chill, frosted mornings with a
silver sun rising behind the trees, red cardigans,
and the smell of warm bread.”
- Charmaine J. Forde
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Alexander Financial Planning | |
3600 Olentangy River Rd, Ste. C2
Columbus, OH 43214
614-538-1600
Office Hours:
Monday–Thursday: 9:00 AM – 5:00 PM Friday: 9:00 AM – 3:00 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. | | |
© Alexander Financial Planning, Inc. | |
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