The Weekly Wealth of Knowledge is your download of this week's most important topics related to financial planning, the markets, and our community. All December we celebrated "small business" month at MONECO, where we highlighted ways we can all support small businesses within our local communities. Now that January 2022 will soon be upon us, we will kick off the month next week with a "new year, new you" theme. All month we will be providing you with a host of content about new goals, new habits and new financial planning ideas.
In this issue:
- Social Security COLA Increase (3 min read)
- Fed Speak (2 min read)
- Small Business Trends & Predictions For 2022 (4 min read)
- BONUS: Giving The Gift Of Financial Planning
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Social Security COLA Increase
Although we have previously discussed the Social Security cost of living increase scheduled for 2022, the following information below will help those recipients better understand when they will actually see the increase in their benefits. The 5.9% increase is the highest raise since 1982. As always, if you have any questions, do not hesitate to reach out.
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Fed Speak
Most people have heard about the Federal Reserve, but we have found that few understand the many roles it plays in the overall economy over the years. The Fed makes headlines every few weeks by updating investors on what’s going on with interest rates. Most recently, the Fed said it’s prepared to raise interest rates next year to help manage our economy. But some parts of the Fed’s job can be a bit of a head-scratcher. For example, did you know the Fed also is responsible for overall employment? Part of our job is keeping an eye on the Federal Reserve. The Fed’s Board of Governors has eight regularly scheduled meetings a year (others, as needed), and when the two-day event ends, the Fed Chair updates the country on the economy. In the weeks that follow, Fed governors often schedule speeches to help clarify the Fed’s position on interest rates, inflation, and employment. So if the Fed creates a headline that you don’t understand, please give us a call. We will help you translate the “Fed Speak.
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Small Business Trends & Predictions For 2022
No small business owner would argue how tumultuous the past 18 months have been on their businesses, clients and employees. Now that 2021 is arriving in the rear view mirror, let's have a look at some of the past trends and the predictions and things to watch on the road ahead for 2022. If we can help from a planning perspective in any way, please reach out to your advisor.
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Giving The Gift Of Financial Planning
This holiday season your team at MONECO is giving the gift of financial planning! We know that the past two years have been some of the most challenging financially, emotionally, and personally for all our clients and friends. We want to help you, our clients, and your family and friends overcome these challenges as best we can. As a value-added service this holiday season and beyond, we want to offer a complimentary financial planning session to all those who are near
and dear to help them get their financial plans on track. If they are important to you, then they are important to us, and we want to help. Please reach out to your advisor to learn more and give the gift of financial planning this holiday season.
