Hello Marianna,

Happy New Year! I hope you've enjoyed the holiday hustle and bustle and are ready for a fresh start now that we have arrived at the new year.

The year behind us was a difficult one for stocks and bonds. Pressure came from a range of headwinds: the Federal Reserve’s ongoing interest rate increases, the crash in cryptocurrencies, a housing recession, and the war in Ukraine, to name a few. I must admit, it’s a frustrating experience, however with frustration often comes opportunity.

To add insult to the injury, the debt ceiling headlines are making the most of potential consequences, and understandably it has been concerning. I’d like to gently remind you that it is the media’s intention to make mountains out of mole hills; but it is my mission to make sure you have all the details without the added emotional chaos. The fact of the matter is that Congress has raised or suspended the debt ceiling 79 times since 1960, and while lawmakers tend to wait until the last minute, they usually do come to a resolution. I've linked an article below, written by Commonwealth's CIO Brad McMillan, with more information.

Additionally, many of you have been asking about Secure Act 2.0, a major legislation which was passed on December 29th, 2022, that enhances retirement savings and distribution opportunities. Below I have referenced the summary of the key provisions, and in our meetings this year, we will discuss how these changes affect your personal situation to make sure you are maximizing opportunities.

In CURO news:

Every January 1st, I start to see the "new year, new me" trend; this year we're not necessarily a new CURO, but we are an IMPROVED CURO. While we are always looking for ways to further support you in your financial journey, our focus for 2023 is to continue evolving our processes in order to provide you our best service.

I know these next few months are traditionally a bit tougher than the warmer months of the year, and since 2020 the world news has often felt a bit heavier than any of us would like to admit. But I hope that with every edition of The CURator that pops into your inbox, you smile knowing how much we enjoy not only partnering with you, but also sharing the uplifting side of things from our CURO world.

Until next time,

Marianna

Our Purpose Is Simple:

To help you curate a wealthy life, and achieve the financial balance and independence for which you strive.

Insights From Our CIO: Market Thoughts

January 2023

Brad McMillan, Commonwealth’s CIO, recaps December’s market and economic news. December closed out a tough year for markets. The U.S. indices showed single-digit declines for the month, capping off drops for the year of about 7 percent for the Dow, more than 18 percent for the S&P 500, and 32 percent for the Nasdaq. The primary drivers were rising inflation and Fed rate increases. Still, job growth remained healthy, and consumer spending and business investment rose. So, what are the biggest risks as we enter the new year?

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How I Found CURO - Meet Sarah Block!

Meet Sarah Block, our Client Service Associate and newest CURO family member! Sarah joined our team in October 2022 through unforeseen circumstances. Here is her personal story.

Decoding the Debt Ceiling Crisis

The headlines this week have warned that we're nearing a "debt ceiling crisis." What does this mean and why is it happening? Brad McMillan, CFA^®, CAIA, MAI, managing principal and chief investment officer, shares a summary of the situation, and offers his reasoning about why we doesn't think panic is warranted.

It's Here: What You Need To Know About Secure 2.0

On December 29, 2022, President Biden signed into law the Consolidated Appropriations Act, 2023, an omnibus spending bill that includes the SECURE 2.0 measure. Broadly, SECURE 2.0 is intended to make retirement saving more straightforward and accessible to a wider range of people. As such, it encompasses many aspects of financial planning and retirement saving.