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Wealth and Wisdom: Week of November 4, 2024

There is clearly a big, important week ahead of us. And there’s also about a 50% chance that someone you really don’t care for will soon be running the country for the next four years. If that happens, then protest, complain, do what you must – but please resist the temptation to make big changes in your financial plan or your investment portfolio based on what you think might happen. The same advice applies equally if your candidate wins.


Because when it comes to investments, I’ll let you in on a little secret. There’s something way more important than politics at play. Something more important even than the investments you own, or when you buy them. That’s right: the key to investment success is between your ears.


There are ways to design an investment portfolio that will help you pursue your financial goals regardless of who is in the White House – a portfolio you can stick with in good times and bad. You just have to know yourself, and you have to use that knowledge to avoid the big, costly mistakes investors tend to make when their emotions take over. And there are 12 things I can teach you to protect yourself – from yourself!


On that note, we have a few seats available at our final Help Me Retire seminar of 2024. It’s coming up this Saturday, November 9 from 9:00 to 10:30 a.m. To reserve a spot, we need to hear from you ASAP.


Click here to register – tell us who will be attending, and a daytime phone number. We’ll get back to you right away with all the details.



Both Donald Trump and Kamala Harris seem likely to add trillions more to the national debt if Congress allows it.  (Reading time: 5 minutes)

 

They’re in short supply – and you’ll need time to check their credentials. Waiting until the new year won’t work.  (Reading time: 3 minutes)

 

The IRS will enforce penalties on non-spouse beneficiaries who ignore minimum distributions – so decide on a withdrawal strategy while you have time.  (Reading time: 3 minutes)

 

This technique could allow you to ramp up what eventually winds up in your Roth IRA at retirement.  (Reading time: 6 minutes)

 

The collective net worth of U.S. households has nearly tripled in the last 15 years – and the largest gains have gone to those who need it most.  (Reading time: 3 minutes)

 

When it comes to the ability to save and invest for retirement, America’s system is decidedly mediocre.  (Reading time: 4 minutes)

 

Despite all the scary headlines, stock prices really don’t change that much day-to-day.  (Reading time: 5 minutes)

 

There are many things to consider – in addition to finances – before you decide to stop working.  (Reading time: 4 minutes)

 

Owning a home gives you control and stability in retirement. Renting could give you flexibility and more money to invest.  (Reading time: 3 minutes)

 

Did you know the Wizard of Oz is full of hidden messages about money?  (Reading time: 5 minutes)


 

Words to the Wise


“The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.”

 

– Thomas Sowell, economist


 

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).



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Links are being provided for information 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.

Securities offered through Raymond James Financial Services, Inc., member FINRA / SIPC, marketed as Brown Family Wealth Advisors Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Brown Family Wealth Advisors is separately owned and operated and not independently registered as a broker-dealer or investment adviser.

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