LIFESTYLE DRIVEN ADVICE
JUNE 2023

Hello,

While the summer temperatures are heating up, inflation is cooling down, giving investors optimism about the near-term economic picture. In the most recent edition of “Wealth Insights,” XML President Curtis Congdon outlined what the latest indicators can tell us about the economy, and how this information might impact markets.

Want to hear more about the current state of the economy and how the market is behaving? XML is hosting a Mid-Year Markets Webinar on July 25 at 12PM ET to share perspectives on how market trends from the first half of the year might play out in the coming months. Attendees will have the chance to submit questions to our panel, so we invite you to join us if you’d like to learn how we’re navigating the current environment. Got vacation plans that conflict?  Check out the replay and other topics in our Webinar Library, all available on-demand.

Over the past month, a number of XML advisors have been featured in different news articles. In one Wall Street Journal article, XML CEO & Co-founder, Brett Bernstein, spoke about the market’s bullish reaction to the debt ceiling debate. See more about our media mentions in the XML Team News section below.

We are excited to announce that, as of June 1, the XML and CIG teams completed the office merger into a new headquarters office in Bethesda, Maryland. We look forward to showcasing our newly renovated office with you. Keep an eye out for an Open House invitation soon!

As always, if you have any questions about the topics discussed in this newsletter, we invite you to connect with our team at your convenience.

Upcoming Webinar: Mid-Year Markets Outlook

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 us once again to offer their perspectives on how markets have performed so far in 2023 and their outlook for the rest of the year.

Blogs

Want To Avoid An IRS Audit? Avoid These Red Flags

An IRS audit is every taxpayer’s worst nightmare. At best, an audit is time-consuming and stressful; nobody wants to have to comb through years of receipts and documents to satisfy an auditor. To avoid running afoul of the IRS, there are a few things you should keep in mind as you file your taxes this year.

Saving More With After-Tax 401(K) Contributions

About 20% of company 401(k) plans offered after-tax contributions in 2021, according to the Plan Sponsor Council of America. These after-tax deposits can be used to kickstart the “mega backdoor Roth” strategy, which includes paying levies on growth and moving the funds for future tax-free growth.  

XML Team News

Congratulations, Lauren!

We are pleased to share that Senior Wealth Advisor, Lauren O’Brien, CFP®, RICP®, CPA has attained the designation of Retirement Income Certified Professional®. A unique designation in financial planning, the RICP® is the nation’s leading credential for building integrated and comprehensive retirement income plans. We are thrilled to celebrate this great achievement!

News Feature

XML CEO and Co-founder, Brett Bernstein, recently spoke with the Wall Street Journal about the market rally as a potential debt ceiling had begun to take shape.

In a separate Wall Street Journal piece, Brett touched on investors jumping back into the bull market and the impact this has on equity markets.

Brett was also interviewed by Asset TV where he discussed his team’s client-centric approach, how XML leadership keeps employees feeling valued and the secret to their growth since breaking away from Merrill Lynch and launching as an independent RIA. 

Long-term care insurance is beginning to show potential benefits more so than in previous years as XML Wealth Advisor, Kevin Peters, spoke with Financial Advisor on the hybrid policies of LTC insurance and how they differ from standard LTC plans. 

How much should Gen Z be saving each year for retirement? XML President, Curtis Congdon, spoke to Yahoo! Finance on the importance of financial habits young adults should adopt to build their savings.

Reminder

As high school seniors celebrate their graduation and embark on the next chapter in their lives, it's important to remember that they, too, are not immune to online scams. In this FTC article, they offer a number of different resources high schoolers can lean on to help protect their online presence.

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.