LIFESTYLE DRIVEN ADVICE
DECEMBER 2022

Hello,

In our current market environment, opportunities are a bit harder to find than usual, but it’s not impossible—especially if you know where to look. In a recent edition of “Wealth Insights,” XML President Curtis Congdon reviews historical market data and highlights some potential areas of opportunity, both now and in the future.

With inflation still at historic highs, one major concern is how it could impact seniors living on a fixed income. Fortunately, Social Security checks are getting an 8.7% cost of living adjustment—but as we discuss in a recent blog post, this short-term fix could have negative effects in the long run. Elsewhere on our blog, we also take a closer look at estate planning: specifically, the most common estate planning errors people make when preparing for the future.

Speaking of the future, the new year is just around the corner—and many investors are uncertain about what the capital markets might have in store for them in 2023. On January 19 at 12PM ET, Bradford Pineault (VP and Capital Markets Strategist, Fidelity) and Scott Wren (Senior Global Equity Strategist, Wells Fargo) will join XML Co-CIO & Co-Founder, Rob Kantor, for another must-see webinar recapping the key market events of 2022 and discussing the outlook for 2023. Registration for this engaging and insightful webinar is now open.

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

Wealth Insights: Capital Market Assumptions

In this edition of Wealth Insights, XML President, Curtis Congdon, digs into the data to try and see what kinds of opportunities the capital markets present both now and in the future. 

Blogs

Social Security Checks Are Getting A Big Boost

In 2023, Social Security recipients will get a little help in the form of an 8.7% cost of living adjustment, or “COLA.”

While the COLA is necessary to help keep pace with inflation, there are some potential negative long-term effects—including the possibility that this increase could mean Social Security coffers dry up sooner than anticipated.

Avoid These Common Estate Planning Errors

A well-crafted estate plan helps ensure you leave the right financial legacy for your beneficiaries and loved ones. Unfortunately, many estate plans focus only on how the planner’s assets will be distributed upon their passing and neglect to plan for a variety of different scenarios. Find out why overlooking these scenarios can cause your estate plan to unravel.

Webinars

2023 Markets Outlook

On January 19 at 12PM ET, Bradford Pineault, VP and Capital Markets Strategist at Fidelity, and Scott Wren, Senior Global Equity Strategist at Wells Fargo Investment Institute, will join us once again to offer their insights and perspectives on what transpired in the markets in 2022 and what may be in store for investors in 2023. Hosted by Rob Kantor, Co-CIO and Co-Founder of XML Financial Group, this event is a rare opportunity for you to ask questions directly to senior equity strategists at Fidelity and Wells Fargo Investment Institute. 

XML Team News

Beware of Forged Checks

If you are a frequent check writer and have mailed checks in the past, we ask you to reconsider this practice. Lately, there has been a sharp increase in checks being stolen from mailboxes which then become forged checks. This article covers the scheme and what to watch out for.

In the News

The complexity of annuities continues to increase as they become more attractive. XML CEO and Co-Founder Brett Bernstein explained in a recent Financial Advisor Magazine article that the ambiguity often arises because insurance carriers offer an abundance of annuity benefits based on different types of annuities. 

Financial planning and wealth management are often associated with older generations, but millennials can also benefit from financial advisors. In a recent Financial Advisor Magazine article, XML President Curtis Congdon discussed the importance of gaining and maintaining the trust of younger clients.

“If you have children under 18 or assets you want to leave to someone, you need a will,” explains XML-W Partner & Director, Michelle Cooper, JD, MBA, on a recent episode of Financial Advisor Magazine’s Invest in Women podcast. Listen to the full episode to learn the difference between a will and estate plans, as well as strategies for overcoming sudden life changes.

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.