LIFESTYLE DRIVEN ADVICE
OCTOBER 2022

Hello,

The upcoming midterm elections could significantly shift the balance of power in Washington—and with it, the market and economic landscape. Yet, does it really matter who controls Congress when it comes to your portfolio? In a recent edition of “Wealth Insights,” XML President Curtis Congdon took a look at historical market performance during midterm election years.

On the topic of historical market performance, this year has been a historically volatile year. Many investors are concerned about how the market volatility and economy are affecting portfolios. It can be challenging to stay focused on the bigger picture and not get too focused on day-to-day market movements. In a recent blog post, we shared five key tips to help ease investors’ worry about their 401(k) accounts. And while you’re concerned about market volatility and inflation, there is another looming threat that can have an immediate and devastating impact on your financial future: scams. You may think you’re savvy enough to catch on to a scam, but in a recent blog post, we explained why that very belief can make you more likely to fall victim. 

While the new year seems fast approaching, there’s still time to take strategic steps that can reduce your taxable burden for the year. Charitable giving can be a great way to lower your tax bill while supporting the philanthropy of your choice, and on November 16 at 12 PM, we’re holding a webinar on charitable planning. Collins Investment Group Senior Wealth Advisor, Shawna Bieda, CFP^® will discuss charitable planning strategies and insights with Vice President & Charitable Planning Consultant at Fidelity Charitable, James Carpenter, CAP^®, ChFC^®, CLU^®. 

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

Wealth Insights: Midterm Election Periods

In this edition of Wealth Insights, XML President, Curtis Congdon, explores the idea of how the markets tend to historically perform during midterm election years.

Blogs

5 Expert Tips To Stop Panicking About Your 401(K)

Investing and retirement planning mistakes are especially prevalent during times of market volatility: investors get too wrapped up in day-to-day market events, and in the process, they lose sight of the big picture. Learn a few helpful tips to stop panicking about your 401(K).

You Might Not Be As Scam-Proof As You Think

As it turns out, well-educated people can be more likely to become victims of fraud for one simple reason: they believe they are too smart to ever fall for a scam, and as a result, they are less careful with their personal information. Read on to find out how you can better protect yourself online.

Webinars

Charitable Planning 2022

Philanthropy and charitable giving can be a great way to support causes that are important to you while securing your financial legacy. Just as important, charitable giving can strengthen your overall financial picture — as long as you take a strategic approach to your philanthropic efforts.

On Wednesday, November 16 at 12:00 PM ET, Shawna Bieda, CFP®, Senior Wealth Advisor at Collins Investment Group, will be joined by James Carpenter, CAP®, ChFC®, CLU®, VP & Charitable Planning Consultant at Fidelity Charitable, to discuss everything you need to know about charitable planning for 2022.

XML Team News

Congratulations, Michelle!

Michelle Cooper's dedication to financial empowerment for women is just one of many reasons she is such a valued leader and member of the XML family — and it should come as no surprise that she has been named Best Wealth Manager in City Lifestyle’s “Best of Potomac 2022” list*. Please join us in congratulating Michelle on this well-deserved honor!

Welcome to the Team, Mary!

Please join us in welcoming Mary Abba to the team! Mary recently joined XML as a Client Service Associate and will work out of our Breckenridge office. Mary has almost twenty years of mortgage and banking experience and will be a key team member in providing top-notch customer support. Mary enjoys being outdoors and traveling with her husband, two teenage daughters, and two dogs.

In the News

In a recent Mergermarket article, XML CEO and Co-Founder Brett Bernstein presented our M&A outlook following our merger with Samson Wealth Management Group. Since 2016, we have merged with three wealth advisory businesses. Within the next five years, Brett anticipates our firm acquiring one firm a year. Read the full article to learn more about our plans and criteria.

As mortgage rates continue to fluctuate, some financial advisors are shifting away from traditional strategies and advising clients to defer paying off their mortgages before retirement. In a recent Financial Advisor Magazine article, Brett was invited to share his thoughts on whether investing in those funds would generate more income and growth versus paying off your mortgage.

A long-term care insurance policy can provide peace of mind to families and increase the quality of life of loved ones. However, just over 2% of Americans have a long-term care insurance policy. XML Wealth Advisor, Kevin Peters explains why he encourages long-term care insurance and how insurers use technology to boost benefits in this recent InsuranceNewsNet article.

*The "BEST Of" Potomac is a reader’s choice contest, for various types of business, which asks for nominations and votes by its readership. Per Potomac Lifestyle Magazine they are a locally owed magazine with over 80,000 Monthly Readers, with over 9,000 copies directly mailed monthly to Potomac homes and businesses of Rockville, Bethesda & Chevy Chase and is considered the highest circulated magazine in town with the most frequency. All nominees must be within a 15-mile radius of Potomac. Nominees were able to share a link to the voting portal to indicate their nomination. No payment was made for inclusion. As of 8/2022.

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.