The Weekly Wealth of Knowledge is your download of this week's most important topics related to our community, financial planning, and the markets. March kicks off "retirement planning" month at MONECO. All month long we will be providing you a host of content about planning for retirement and all the things you need to be doing to prepare for it and enjoy it, if you are already there.
In this issue:
• Team MONECO - Girl Scouts Of CT (2 min read)
• Is Social Security FRA Going Up? (3 min read)
• J. Powell Can't Keep A Secret (3 min read)
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Team MONECO - Girl Scouts Of CT
Getting involved in our local community allows our team at MONECO Advisors to make positive contributions in the place where we raise our families and work every day. To highlight the organizations we are involved in, we are spotlighting one group a week to bring more awareness to the great things they do each and every day.
One of the many groups we are involved in is Girl Scouts of Connecticut. Not only do they raise money by selling delicious cookies, but they also give thousands of Girl Scouts across our state the opportunity to make friends, have fun, find adventure and give back. Every child has their own curiosity, dreams, and talents, and this wonderful organization shows that the sky is the limit if you put them in the right situation. Some of our MONECO associates are troop leaders and volunteers right here in our Fairfield community, and we could not be prouder to support an organization like this one.
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Is Social Security FRA Going Up?
Oh the times are changing...first the Secure Act 2.0 changed the age of Required Minimum Distributions and now there is rumblings in Congress of increasing what would be considered the Full Retirement Age (FRA), when collecting Social Security benefits. For those in retirement or approaching it, these changes could have a significant impact on your financial planning long term. If we can help answer any questions, do not hesitate to reach out to the office.
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J. Powell Can't Keep A Secret
Jerome Powell would be terrible to have in your book club. He would always reveal how the book would end.
When the Fed Chair spoke following the Fed meeting in February, he said, “we’re in the early stages of deflation” and revealed that the Fed was on track to bump rates another 25 basis points at its March meeting.
But in the following weeks, the markets got unsettled after hotter-than expected consumer and producer prices rose. Investors started to think that Powell may be misreading the economy and he might arrive at a new conclusion.
The table below shows that 72 percent of traders expect the Fed to increase rates by 25 basis points in March. They also see another bump in May but are less confident the further you look. So the “smart money” still believes Powell’s plan.
One thing is certain, Jerome Powell can’t keep a secret. If he’s had a change of heart about rates, he will inform the markets as soon as possible. Markets hate surprises, especially when it comes to monetary policy. Powell knows that better than anybody.
We will let you know if anything changes in our outlook as soon as possible. Until then, we always look for recommendations to add to our reading lists!
The opinions voiced in this material are for general information only and are not intended to provide specific financial or tax advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.