LIFESTYLE DRIVEN ADVICE
JULY 2023

Hello,

As we pass the midpoint of the year, many investors are wondering how to interpret the market’s year-to-date growth – and what it could mean for the rest of 2023. If that sounds like you, remember to register for our upcoming Mid-Year Markets Webinar on July 25. We’ll be joined by senior equity strategists at Fidelity and the Wells Fargo Investment Institute to recap markets so far this year and understand what investors can expect for the second half of 2023.

There is something to be admired about an optimistic outlook but how much optimism is too much? In a recent blog post, Gen Z'ers were surveyed and the biggest takeaway was that they were confident about a 40-year retirement while needing only $1.2 million to get through retirement. Experts have said that perhaps this might be too much of an optimistic outlook and that expectations need to be tempered. But if finances are managed correctly on the way to retirement, Gen Z'ers might be able to retire by their desired age of 60. 

One way all generations can be proactive in their financial efforts is with year-round tax planning. In this blog post, we explored how incorporating tax planning throughout the whole year, instead of just thinking about it when taxes are due, can be a great method to take back some control over your financial life.

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

Upcoming Webinar: Mid-Year Markets Outlook

This is a reminder that on Tuesday, July 25, Bradford Pineault, VP and Capital Markets Strategist at Fidelity, and Scott Wren, Senior Global Equity Strategist at Wells Fargo Investment Institute will join Jordan VanOort, CFA®, CFP®, CPWA®, Senior Wealth Advisor, to offer their perspectives on how markets have performed so far in 2023 and their outlook for the rest of the year. Bradford and Scott will recap the big-picture items that have affected capital markets so far in 2023 and participate in an open forum featuring questions submitted by the audience. 

Blogs

Gen Z Is Expecting A 40-Year Retirement. Good Luck, Experts Say

In a recent survey, Gen Z'ers revealed their unabashed optimism with many of them thinking that retiring at age 60 and living to 100 is among their beliefs. To fund their 40-year retirement, this same group believes $1.2 million should be enough. Financial experts are quick to suggest that this way of thinking might need a bit of a reality check. 

Year-Round Tax Planning

There are several ways you can leverage year-round tax planning to stay ahead of the tax-planning game. You can take advantage of tax-advantaged retirement plans like 401(k)s and IRAs, convert pre-tax dollars to Roth dollars, use health savings accounts and flexible spending accounts, and recognize capital losses to offset tax bills. Click the link below to find out what else you can do.

XML Team News

Financial Advisor Magazine Top RIA Firm

We are excited and humbled to once again be named to Financial Advisor Magazine's annual Top RIA Firm rankings in the U.S. We are truly appreciative of all the hard work our firm has put in to helping clients manage their finances. We are also grateful for the continued support of all our clients. For additional information on FA’s 2023 RIA Survey & Ranking list, please visit here. Survey data as of December 31, 2022. Coverage period is 2022. Growth in Assets 2021-22. XML paid no fees to be in said ranking.

News Feature

In a recent Financial Advisor Magazine article, XML CEO & Co-founder, Brett Bernstein, discussed some of the rationale clients must consider when deciding whether or not to trade in their annuities. 

As the bull market gains momentum, investors have their eyes on the Federal Reserve’s next-rate policy meeting. XML CIO & Co-founder Rob Kantor shared his thoughts in a recent Wall Street Journal article saying, “Both inflation and unemployment are not moving as fast as the Fed would like, and they have indicated more rate hikes starting in July.”

XML President, Curtis Congdon, also shared his thoughts in two recent articles. In the first one, a U.S. News article, Curtis shared his insights into the benefits of owning an energy ETF as opposed to guessing which energy stock will outperform other energy stocks. In keeping with the ETF theme, in a piece for WTOP News, Curtis also expressed his sentiments on the ARKG and BBH ETFs.

Reminder: Tips to Avoid Check Fraud

We wanted to make you aware of a scam that is receiving national attention, and we know people affected by this harmful tactic. The scam involves a mailed check being intercepted, washed, and forged for larger amounts payable to criminals. The links below are to an article and podcast that further explains this scam and ways to protect yourself.

Check Washing Makes a Comeback; Here’s How to Protect Yourself

The Perfect Scam

Some quick tips to minimize check-washing fraud are:

• Use a pen with blue or black non-erasable gel ink.
• Take your outgoing mail to a post office.
• Don’t let delivered mail sit in your mailbox. 

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.