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MONECO's Weekly Wealth of Knowledge - Week of 2/01/2021

February 01, 2021

The Weekly Wealth of Knowledge is your download of this week's most important topics related to financial planning, the markets, and our community. February is here and it is Generational Planning month at MONECO Advisors. Throughout the month we will be providing you a host of content about transferring wealth to other members of your family and the appropriate strategies and benefits of doing so.

In this issue:

  • Deficit Financing (3 min read)
  • Inherited Roth IRAs (2 min read)
  • A MONECO Intern's Story (2 min read) BONUS: Upcoming Webinar Invite - Building Resiliency In Challenging Times

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This week, Managing Partner, Charlie Rocco, is featured in our introduction video!


Deficit Financing

2020 brought us lots of changes, in the markets, in our lives and for the future. A frequent question that all of our advisors were asked over the last year by clients was "How will we as a country finance the large amount of stimulus that added to our overall deficit?" Although for the most part, the final answer is still swirling around, our friends from First Trust compiled a nice opinion piece on their thoughts that we all felt was worth sharing.


Inherited Roth IRAs

As we kick off Generational Planning month at MONECO, it is fitting that this piece of content about financial planning, is in regards to the tax treatment of withdrawals from an inherited Roth IRA. As always, if you have any questions regarding an inheritance you received and its tax treatment, do not hesitate to reach out to see how we can help.

Click here to read the full article.


A MONECO Intern's Story

Many of you know that at MONECO Advisors we run a robust internship program each semester. When we first started this program years ago, we set out to not only take advantage of good talent to help us move the firm forward, but we also wanted to ensure that our interns had an experience where they truly felt they were part of our team. Side note, our interns do not make copies or get coffee, we do that ourselves. However, what they do get is experience to all facets of the organization, from marketing to compliance to financial planning and investment management. Here is a note we received from Brendan Callow, a recent Fairfield University intern about his experience, with permission, in his own words:

"After reflecting on my time at MONECO, I cannot help but to feel privileged to have learned from people who are so incredibly dedicated to one another as well as their clients. Despite only working at MONECO for a year, I truly felt as though I was a member of the MONECO family. And, in pure MONECO fashion, upon my departure from the firm, Kathy Pangallo solidified this feeling when she emailed me saying, “We are your parents-away-from-home!” Kathy’s note resonated with me as it epitomized the people of MONECO’s loving and caring nature.

In addition to having adopted about 30 “parents-away-from-home” my internship at MONECO was an incredible learning experience. From the beginning, I was struck by the professionalism and knowledge possessed by each member of the firm, as well as their incredible dedication to fulfilling the goals of MONECO’s clients. Before going virtual, my favorite part of going to the office was overhearing conversations between advisors like Mr. Rosenau and Mr. Flynn as they chatted about the economy or the latest piece of research they had read. In addition, I was lucky enough to have frequent conversations with Mr. Lincoln who furthered my understanding of investing and Financial Planning by sharing his vast knowledge of the financial markets with me. And finally, I would be remiss if I did not also mention my experience working for Ginnie Thompson and Eric Johnson, as they both helped me understand what it took to make a business operate. Whether it was learning about the intricacies of compliance and SEC audits, or understanding how to send efficient and valuable communications, every conversation I had with these two individuals helped me further my understanding of business and bring me closer to my goal of owning and operating my own one day.

I am extremely lucky to have had the experience I did at MONECO Advisors. I am blessed to have met such amazing people so early in my professional career and am proud to forever be a part of the MONECO family."


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