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Weekly Wealth of Knowledge - Week of 3/25/24

March 26, 2024

The Weekly Wealth of Knowledge is your download of this week's most important topics related to our community, financial planning, the markets and more! In March we will continue to focus on "retirement planning." Throughout the month we will be providing you with 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:

  • MONECO Insights - Early Retirement (3 min read)
  • Team MONECO - St. Patrick's Scholarship Fund (2 min read)
  • Fed Rate Decision (3 min read)

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Early Retirement

Early retirement can be an achievable dream, however,there are a few items to consider. While the specific age for early retirement may vary depending on individual goals and circumstances, it commonly falls somewhere between the ages of 45 and 60. First and foremost timing is everything! The sooner you start to save and plan the more your money can grow. Maximizing your savings and taking advantage of tax-advantaged accounts such as 401(k)s, IRA, & Roth IRAs would be a great approach. As you read you will learn some tips to help you achieve this dream and if it is a possibility for you. As always, if you have any questions, we are here for you!

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Team MONECO - St. Patrick's Scholarship Fund

The MONECO team is always striving to be giving back to the community in any way that we can. One passion that we all have is helping foster the youth, less fortunate and give them the opportunity to obtain scholarship, based upon academic achievement and need but also extracurricular activities and other factors. The St. Patrick's Scholarship Fund formed in 1964, with the singular goal of providing a four-year college scholarship to a high school senior from the greater Bridgeport region. Historically the main fundraising event is an annual black-tie dinner with comedic entertainment. This is a great organization that has since provided over 50 scholarships to deserving students and one we have supported for years. This year, one of our Partners, Eric Johnson attended representing the firm. He shared in the success of the students, family, & friends of the winning recipient and had a few laughs along the way!

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Fed Rate Decision

With a target of 2%, the Fed's decision on last week to hold rates, shows the central bank believes it's winning the fight against inflation and is in no rush to cut rates too soon. The Fed stated, "it does not expect it will be appropriate to reduce the target [interest rate] range until it has gained greater confidence that inflation is moving sustainably toward 2%." As you read, you will gain insights on how a rate-hike pause affects checking and savings accounts, as well as what the move will mean for loans and mortgages.  As always if you have any questions, we are here for you! 

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Important Information

This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal. Any economic forecasts set forth may not develop as predicted and are subject to change.

MONECO Advisors, LLC and LPL Financial are not affiliated with any other referenced entity.

This commentary reflects the personal opinions, viewpoints and analyses of the MONECO Advisors employees providing such comments, and should not be regarded as a description of advisory services by MONECO Advisors or performance returns of any MONECO Advisors client. The views reflected in the commentary are subject to change at any time without notice. Nothing in this commentary constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. MONECO Advisors manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results. 

References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. All performance referenced is historical and is no guarantee of future results.