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Weekly Wealth of Knowledge - Week of 11/1/21

November 02, 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. November kicks off "giving" month at MONECO, as we welcome in all that we should give thanks for. This year, like last, it means more than anything after all that we have been through over the past 18 months. All month long we will be providing you content on how to give back in many ways, to your friends, your community and to your family. And let’s do our best to continue this trend, not just this month, but throughout the entire year!

In this issue: 

  • Donating Using Money From An IRA (3 min read)
  • How Risky Are You? (2 min read)
  • Giving USA 2021: A Year In Review (4 min read) 
  • Last Call - Upcoming Webinar - Social Security - Planning For Retirement 

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Donating Using Money From An IRA

Did you know donations made from an IRA could come with tax savings as well? IRA donations made to charities after you have reached the Required Minimum Distribution age can avoid paying taxes. This tax break was made permanent in 2015. Like anything when dealing with the tax code, you just have to be sure to follow the rules. As always, if you have any questions, do not hesitate to reach out to the office!


How Risky Are You?

Here at MONECO we take a deep dive into every client's personal feelings about risk, in conjunction with how much they need to take to pursue their financial goals as well as how much risk we as a firm are comfortable taking, depending on where we are in the current business cycle. The below infographic is a great place to start. In addition, we have other tools available to help determine each individual's appetite for risk. If we can help in any capacity, please give us a call.

Click here to read the full article


Giving USA 2021: A Year In Review

With November kicking off "giving" month at MONECO, we figured it appropriate to start it off with the philanthropy that topped records last year despite the year we all had. The report is brought to us by Giving USA, the longest-running and most comprehensive report on the sources and uses of charitable giving in America. 

Click here to read the full article


Upcoming Webinar: Social Security - Planning For Retirement

According to the Social Security Administration, on average, retirement beneficiaries receive 40% of their retirement income from the program.* From a financial planning standpoint, it is imperative to determine where the shortfall of needed income will be made up. Claiming strategies and the timing of when to begin receiving benefits can often have a big impact on your overall retirement goals.

Join us to discuss the impacts of social security on your financial plan, claiming tactics, strategies and timing!