I hope you were able to enjoy a safe and restful Thanksgiving weekend. May this be the year that you and I get all our holiday shopping done before Christmas Eve.
Speaking of which, we’re already getting mixed signals from major American retailers. Target warned of slow holiday sales this year as the company appears to be losing shoppers to Walmart. Kohl’s is projecting a 7% to 8% drop in sales for 2024. And Best Buy is warning that President-elect Trump’s plan to sharply raise tariffs on imported goods will lead to higher costs, which will be passed along to consumers.
Those consumers appear pretty optimistic, however, at least for now. The Conference Board’s consumer confidence index is the highest it’s been since January – reflecting optimism over the economy and jobs market. And while inflation remains at the forefront of consumers’ thoughts, expectations for the next 12 months are at the lowest levels we’ve seen since early 2020.
Tight inventories and price hikes mean you might want to buy these items now rather than later. (Reading time: 4 minutes)
Owning a home typically costs more than renting – but rarely has it ever been this much more expensive. (Reading time: 4 minutes)
High prices, high mortgage rates, and limited inventory are keeping young homebuyers out of the market. The chart in this article is startling. (Reading time: 4 minutes)
Inflation is making America’s $35 trillion government debt appear more manageable lately – but out-of-control government spending isn’t helping the cause. (Reading time: 4 minutes)
A respected financial writer on the eve of retirement reminds us all of the historic miracle of U.S. equities. (Reading time: 2 minutes)
If you know someone who’s contemplating retirement, Christine Benz’s excellent book would be a great holiday gift. (Reading time: as long as it takes you to read a book)
One applies to money you contribute to your Roth. The other deals with Roth IRA conversions. (Reading time: 5 minutes)
This comprehensive overview should give you some workable ideas for managing one of the biggest expenses retirees face. (Reading time: 7 minutes)
At age 94, the world’s greatest investor is getting his affairs in order – giving away billions and telling parents to do this one thing with their children. (Reading time: 3 minutes)
If something unexpected happened to you, would your family have the information they need to carry out your wishes? (Reading time: 4 minutes)
Words to the Wise
“To be rich in admiration and free from envy, to rejoice greatly in the good of others, to love with such generosity of heart that your love is still a dear possession in absence or unkindness - these are the gifts which money cannot buy.”
– Robert Louis Stevenson
Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.
Links are being provided for informational purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members.
The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of Brown Family Wealth Advisors and not necessarily those of Raymond James. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Expressions of opinion are as of this date and are subject to change without notice. Past performance does not guarantee future results. Prior to making an investment decision, please consult with your financial advisor about your individual situation.
The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market.
Investors should consider, before investing, whether the investor’s or the designated beneficiary’s home state offers any tax or other benefits that are only available for investment in such state’s 529 savings plan. Such benefits include financial aid, scholarship funds, and protection from creditors. There is also a risk that these plans may lose money or not perform well enough to cover education costs as anticipated. Most states offer their own 529 programs, which may provide advantages and benefits exclusively for their residents. The tax implications can vary significantly from state to state.
Unless certain criteria are met, Roth IRA owners must be 59 ½ or older and have held the IRA for five years before tax-free withdrawals are permitted. Additionally, each converted amount may be subject to its own five-year holding period. Converting a traditional IRA into a Roth IRA has tax implications. Investors should consult a tax advisor before deciding to do a conversion.
Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Brown Family Wealth Advisors is not a registered broker/dealer and is independent of Raymond James Financial Services.
These policies have exclusions and/or limitations. Guarantees are based on claims paying ability of the issuing company. Long Term Care Insurance or Asset Based Long Term Care Insurance Products may not be suitable for all investors. Surrender charges may apply for early withdrawals and, if made prior to age 59 ½ may be subject to a 10% federal tax penalty in addition to any gains being taxed as ordinary income. The cost and availability of Long Term Care insurance depend on factors such as age, health, and the type and amount of insurance purchased. Please consult with a licensed financial professional when considering your insurance options.
Dividends are not guaranteed and must be authorized by the company’s board of directors.
Roth 401(k) plans are long-term retirement savings vehicles. Contributions to a Roth 401(k) are never tax deductible, but if certain conditions are met, distributions will be completely income tax free. Unlike Roth IRAs, Roth 401(k) participants are subject to required minimum distributions at age 72 (70 ½ if you reached 70 ½ before January 1, 2020).
