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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. 

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All Hallows' Eve

Leaves are falling and the days are rapidly getting shorter. It seems the cool fall weather arrives later each year. With Beggar’s Night nearly upon us, little ghouls and goblins will soon be out hunting for treats. We hope you have a safe and Happy Halloween!

• Five Star Wealth Manager Award – AFP has received the Five Star Wealth Manager Award for 2024. This is the fourth consecutive year that we have qualified for this distinction. Additional information can be found in the October 2024 issue of Columbus Monthly magazine.

• Check out our New Social Media and "Like Us" Too – We have created a YouTube channel to post our webinars and plan on producing regular short videos as well. We have also created an Instagram page since we know many of our clients have accounts there. You can click on the links at the top or bottom of this newsletter to begin following us. Please continue to "Like us" as we post new items that are of interest to you.

• AFP October Webinar – “Should You Convert or Not Convert by December 31st?” with Teri Alexander CFP®, MSFP, CeFT®, AIF and Nathan Swab CFP®, AWMA® on Friday, October 25th at noon.

It's a hot topic this time of year and the deadline is looming. Does converting money from a pre-tax retirement account (IRA, 401-k, 403-b, 457) to a Roth IRA make sense for you? Along with this topic, we will provide an update on Beneficiary IRAs inherited after 2019 or who may be inheriting an IRA in the future.

• How do you attend? Let Erik know at edanielson@afp-advisors.com. A webinar link will be sent via email the morning of the webinar to those who have expressed an interest in attending. If you know anyone who would like to attend, please pass along the webinar email to them.

Click below to read our October 2024 Blog edition.

You Have Homeowners Insurance. Is it Enough to Rebuild Your House?

We would enjoy receiving your feedback on our Blog. Please share any comments or suggestions for future topics with us via email.

THE BULL TURNS TWO – On October 12th, the S&P 500 marked the two year anniversary of the start of the bull market. Through October 9th, the S&P 500 has gained 62% during this bull market, and since 1928, the eleven bull markets that lasted at least two years had a median S&P 500 gain of 126% over five years. (source: Bespoke)

PAYING DOWN THE PLASTIC – Consumer balances on credit cards (non-revolving debt) declined by $1.4 billion in August for the largest monthly decline since March 2021. After rising for 37 consecutive months (longest streak since 1997), balances have dropped in 2 of the last 3 months. (source: Federal Reserve)

SEPTEMBER INFLATION RATE – Inflation (CPI) rose 2.4% in September, ticking down from the pace of the previous month of 2.5%. This was less of a decrease than economists had expected, but there was good news about housing costs. (source: US BLS)

2025 SOCIAL SECURITY INCREASE – Social Security beneficiaries will get a 2.5% increase in their monthly payments in 2025. This is the lowest increase since 2021. However, it follows a 5.9% increase in 2022, 8.7% in 2023, and 3.2% this year. (source: SSA)

Crude Oil Production

Israel's offensive in Lebanon against Hezbollah has led to Iran firing hundreds of missiles at Tel Aviv, potentially leading to a spike in oil prices. Analysts believe Israel will target Iran's missiles, rather than their energy facilities, as the U.S. is more interested in disrupting Iran's military capabilities than global oil markets. However, should Iranian production take a hit, the market is well-positioned to absorb the shock, as OPEC has excess production capacity and member nations plan to revive capacity over 2025. Modern-day oil markets are resilient, but geopolitical risk is high, so hedgers should consider investments in defense or global transport.

Click here to view the source.

Medicare Plans Are Making Big Changes for 2025. Here's How to Navigate Them.

By Anna Wilde Mathews

Source: The Wall Street Journal

Buckle up, seniors. 

The enrollment period for picking 2025 Medicare health-insurance coverage began Tuesday (10/15), and it could be tough to navigate. Insurers are making changes that could leave you stuck with more costs and skinnier benefits. But you can still find good deals, if you know what to look for.

Specifically, some insurers are dumping plans, trimming popular offerings like dental coverage and increasing charges such as deductibles in response to new federal government requirements and to improve profits. 

Because of the changes, about 1.5 million people will see their Medicare Advantage plans eliminated next year, while a further 3.5 million are losing their current Medicare drug policies, known as Part D plans, estimates Healthpilot, which offers a website to help people choose Medicare coverage.

“This is the largest disruption we’ve experienced in a decade,” says Healthpilot Chief Executive Seth Teich.

Click here to read this article.

Financial Tips for Widows and Widowers

By Lucy Lazarony

Source: Next Avenue

At Alexander Financial Planning (AFP), we have become unexpected experts in handling the death of a spouse or a single client. Sadly, we have clients pass away each year. While we mourn the loss of a client, we know that our advanced skills in this area are another reason that our clients & their families have maintained relationships with us over the years.

If your home operates anything like ours at AFP – everyone has a role to play in running a household... John cooks and Susan pays the bills. Mike mows the yard while Mary schedules services to be done around the house. Andy walks the dogs, and Carol takes out the trash. For single people, it can be more complicated, especially if you have pets or minimal family and friends where you live. You get the picture.

But in all seriousness, losing a spouse or a family member is incredibly difficult, even if you think you are prepared and ready to take on what you have identified that needs to be done. For most, this is new territory, and the questions aren't ones you have encountered before. It can be an incredibly trying time and we look to help our clients navigate the process as painlessly as possible.

Click here to read this article.

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

“There is magic in the night when

the pumpkins glow by moonlight.”

- Unknown