LIFESTYLE DRIVEN ADVICE
AUGUST 2023

Hello,

 

Creating a comprehensive financial plan involves integrating many elements into a cohesive framework. One element that’s often overlooked is insurance. On Wednesday, September 20th  at noon , we will be hosting a discussion dedicated to helping you understand insurance and how it can be used as a tool in your wealth strategy. We invite you to register for this  insurance webinar , where you can learn vital information to help ensure you have the right coverage for you and your family.

 

Speaking of coverage, experts often recommend keeping an emergency fund large enough to cover approximately six months of expenses. Unfortunately, this recommendation is becoming increasingly unfeasible for many in a world of rising costs and stagnant wages. In a recent blog post, we explore whether having  three months’ worth  of savings is enough.

 

For retirement purposes, of course, you’ll need more than just a few months of savings. It is especially true now that Americans may be unable to rely on Social Security to fund their retirement. In another blog post, we discuss a  recent survey  that showed nearly three in four Americans don’t think they can count on Social Security benefits in their retirement years. This figure highlights the uncertainty facing the future of the program.

 

Lastly, we are hosting an Open House event  Wednesday, September 13th, from 11:00 am to 1:00 pm   to showcase our new Bethesda Office Headquarters! If you want to tour our new office while meeting XML team members, please register for the event  here . We are still located at the same address: 6901 Rockledge Drive, Suite 730, Bethesda, MD 20817.

 

As always, if you have any questions about the information shared in the newsletter, please don’t hesitate to get in touch.

Upcoming Webinar: How Insurance Plays Into Your Long-Term Financial Plan

 

Insurance can be a nuanced topic. Coverage comes in many forms, and the right choice for you and your family may depend on your life stage and financial circumstances. On  Wednesday, September 20 at 12PM ET , Samson Wealth Management Group  (a division of XML Financial Group) Senior Partner, Mark Samson , will be joined by Todd Landau, a multi-decade insurance industry veteran and Managing Director at the Marcus Insurance Agency, Inc/One80 Intermediaries. In the webinar, the two will lead a comprehensive discussion on insurance solutions. Click the link below to register for this insightful webinar.

Blogs

Why A 6-Month Emergency Fund May Be Too Much For You

 

Experts say it's prudent to keep an emergency fund in case something goes awry. However, there has been a debate as to how many months this emergency fund should cover. While 6 months has long been seen as a safe amount, many experts now believe that 6 months may be too much. Find out what might be a more practical figure for most people.

 

 

Social Security Can’t Be Your Whole Retirement Strategy

 

While social security is a good place to start in terms of your retirement strategy, it simply cannot be your entire strategy. Life is getting more expensive and the future of the program isn’t as certain as it once was. Understanding this, Americans will need to find other ways to support themselves after they stop working. This article outlines a few other considerations future retirees may want to consider.

 

XML Team News

Michelle Cooper on the Invest in Women Podcast Series

Michelle Cooper , Partner &Director at XML-W, recently discussed the importance of creating an estate plan, especially with the possibility of life transition, on this recent episode of Financial Advisor Magazine's Invest in Women podcast.

Open House in Bethesda

We are unveiling our new Bethesda Office Headquarters with an Open House event that will be held on September 13 from 11:00 AM – 1:00 PM at 6901 Rockledge Drive, Suite 730, Bethesda, MD 20817. Please join us for a catered lunch, tour our headquarters, meet the team, and take advantage of our free on-site shred truck sponsored by Chesapeake Paper Systems ! Given it will be back to school time, we’re collecting arts &crafts supplies for   So What Else , a Rockville based nonprofit. Their mission is to improve the lives of children and families living in underserved communities in the Washington, DC metro area by providing food security, access to basic necessities, and high-quality OST (out-of-school time) programming. The donated supplies will be used for the OST programs throughout the school year. The charity depends on the support of the community and has been hit hard recently due to inflation. These items are typically expensive and the children love having the best supplies for their classes. If you have any sitting around your homes or would like to pick up a few things, we will gladly gather them for So What Else. 

 

Below is a list of requested items should you wish to participate:

• Crayons
• Construction Paper
• Markers
• Colored Pencils
• Paint

We are very excited for this new office and if you wish to attend, please fill out the form .

Submit Your Webinar Ideas

We take great pride in offering webinars that we believe are informative, insightful, and educational. There are so many great topics to cover, but now, it's time to hear some potential webinar ideas that you, the viewer, may want us to cover. If you wish to submit potential webinar topics, please share them with us by filling out this form . While we may not get to cover everyone's topics, we are appreciative of your suggestions!

News Feature

In a recent Financial Advisor Magazine article , XML CEO &Co-founder, Brett Bernstein, CFP®,  discussed insurance coverage and the importance of completing a holistic financial plan to determine an appropriate amount.

This communication is for information and educational purposes only. This is not a recommendation for the sale or investment in any product or strategy nor should it be perceived as individual advice. Information presented has been prepared from sources believed to be reliable but is not guaranteed and does not represent all available data necessary for making investment decisions. Economic and market forecasts presented herein reflect a series of assumptions and judgments as of the date of this presentation and are subject to change without notice. Forecasts do not consider the specific investment objectives, restrictions, tax and financial situation or other needs of an individual. Actual data will vary and may not be reflected here. Accordingly, these forecasts should be viewed as merely representative of a broad range of possible outcomes. The opinion expressed by this individual is based on facts and circumstances known at this time, is subject to change and does not reflect the opinions of all financial professionals of XML.