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Weekly Wealth of Knowledge - Week of 5/16/22

May 17, 2022

The Weekly Wealth of Knowledge is your download of this week's most important topics related to financial planning, the markets, and our community. With May kicking off "Elder Care" month at MONECO Advisors, all month long we will be providing you content surrounding some of the unique financial challenges facing our seniors today. Whether you are in your Golden Years or assisting someone who is, we are confident that you will find the information helpful.

In this issue:

       • Changes Coming For Health Savings Accounts (2 min read)
       • What To Expect From The Federal Reserve (3 min read)
       • How Technology Can Keep Seniors Living At Home (3 min read)

BONUS: Fairfield Police Sunset 5k - Presented by MONECO Advisors

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Changes Coming For Health Savings Accounts

With the cost of healthcare rising, Health Savings Accounts or HSAs can be a great tool as part of an overall financial plan. HSAs allow you to set aside funds for future costs and have favorable tax treatment from the IRS. In fact, they are triple tax-advantaged, meaning, you can contribute with tax free dollars, can experience tax free growth on funds that are invested and withdrawals, as long as the funds are used to pay for qualified medical expenses. And if that was not good enough news, contribution limits are increasing. As always, if you have any questions, do not hesitate to reach out to the office. 

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What To Expect From The Federal Reserve

Few investors should have been surprised when the Federal Reserve raised interest rates after its May meeting.

Throughout April, Fed Chair Jerome Powell and several Fed Governors talked about the need to keep raising short-term rates to help manage hot inflation. They suggested that a series of rate hikes throughout the summer may be necessary to cool prices.

What should have surprised investors was the reaction by the financial markets. As the May meeting came to a close, markets cheered as traders expressed confidence the Fed would be able to guide the economy to a “soft landing” and avoid a recession. But in the days that followed, stock and bond market volatility picked up as the reality of higher interest rates started to settle in.

What’s next? Fed Governors have prepared us for higher short-term rates in the coming months. But some economists point out that the bond market has already done some of the work for the Fed, meaning traders have already pushed longer-term interest rates higher. For example, the yield on the 10-year Treasury has doubled this year.

We’re in a transition period with the economy. High inflation is forcing the Fed into a cycle of raising interest rates. It’s best to prepare for more volatility as the markets adjust to what’s ahead. Please reach out if you want some additional insight. We’ll be happy to share more information. (FMG)

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How Technology Can Keep Seniors Living At Home

Continuing our monthly theme of elder care in May, our friends to the north in Canada chime in this week with how companies are repurposing smart technology to benefit seniors, thus allowing them to age in place at home for longer periods of time. This innovation comes during a time when in home nursing care has decreased due to Covid. Let's hope the same type of innovative companies begin to spring up here in the U.S.

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Fairfield Police Sunset 5k Presented by MONECO Advisors

The 4th Annual Fairfield Police Sunset 5K is Presented by MONECO Advisors. All proceeds will be donated to the Fairfield Police Union Scholarship Fund & the newly formed Fairfield Police Foundation. You can run (3.1 mile) or walk (1 mile) course. We were able to increase the number of participants to 1000 this year and do expect to sell out, so don't delay, sign up today for Fairfield's most memorable night of the summer! Sponsorship opportunities available via the registration link as well. 

Click to Register!


The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful.