Hello valued clients and friends!
As we enter a new month, we’re excited to share with you a collection of interesting articles from the month of October. Hope you enjoy!
- Bank of America warned consumers they would be pushed to the ‘point of pain’—and CEO Brian Moynihan says we’ve now reached that point. Read Article Bank of America CEO Brian Moynihan says consumer spending growth has slowed signaling a shift towards a low-growth, low-inflation economy. Lower-income households are more impacted, with depleted savings, while higher-income households are diverting money to investments. The Fed’s anti-inflation efforts appear to be working, with inflation at 3.7% down from 8.3% a year prior.
- Navigating the New FAFSA: What Families Need to Know About Upcoming Changes in Financial Aid for College. Read Article The FAFSA is undergoing significant changes for the 2024-2025 school year, including a delayed start date, a new “Student Aid Index,” and the elimination of the “sibling discount.” These changes aim to simplify the application process and expand federal aid eligibility, but may affect middle- and higher-income families with multiple children in college.
- Will I just keep spending more and more money forever? Read Article Nicole Dieker answers questions in Vox’s “On the Money” column about managing lifestyle creep and the rising cost of living. She advises preparing for future life changes, such as career moves and family events, and offers multiple coping strategies like moving to cheaper areas and aggressive debt management.
- The Healthcare Plan Most People Should Buy—and Why They Don’t. Read Article During open-enrollment for health insurance, many people make costly mistakes by choosing inappropriate plans or sticking with existing ones. Complexity, jargon, and misleading terms contribute to these errors. For many, a high-deductible health plan paired with a health savings account offers financial benefits without compromising essential coverage.
- Your ‘Set It and Forget It’ 401(k) Made You Rich. No More. Read Article The traditional 60/40 stock-bond portfolio strategy is facing challenges due to high Treasury yields and inflated stock valuations. Investors are advised to lower return expectations and diversify assets for a safer, albeit modest, yield.
As always, please reach out with any questions or if we can be a resource to you!
Tyler Anderson, CFP®
Mint Hill Wealth Management
Securities and advisory services offered through Ausdal Financial Partners, Inc. Member FINRA/SIPC. 5187 Utica Ridge Rd, Davenport, IA. 52807. 563‐326‐2064. Mint Hill Wealth Management LLC and Ausdal Financial Partners, Inc. are separately owned and operated. Ausdal Financial Partners, Inc is an investment adviser in Davenport, IA. Ausdal Financial Partners, Inc is registered with the Securities and Exchange Commission (SEC). Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. Ausdal Financial Partners, Inc only transacts business in states in which it is properly registered or is excluded or exempted from registration. A copy of Ausdal Financial Partners current written disclosure brochure filed with the SEC which discusses among other things, Ausdal Financial Partners business practices, services and fees, is available through the SEC’s website at: www.adviserinfo.sec.gov. Please note, the information provided in this document is for informational purposes only and investors should determine for themselves whether a particular service or product is suitable for their investment needs. Please refer to the disclosure and offering documents for further information concerning specific products or services. Nothing provided in this document constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments. Investments in securities entail risk and are not suitable for all investors. This site is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction. This document may contain forward-looking statements relating to the objectives, opportunities, and the future performance of the U.S. market generally. Forward-looking statements may be identified by the use of such words as; “believe,” “expect,” “anticipate,” “should,” “planned,” “estimated,” “potential” and other similar terms. Examples of forward-looking statements include, but are not limited to, estimates with respect to financial condition, results of operations, and success or lack of success of any particular investment strategy. All are subject to various factors, including, but not limited to general and local economic conditions, changing levels of competition within certain industries and markets, changes in interest rates, changes in legislation or regulation, and other economic, competitive, governmental, regulatory and technological factors affecting a portfolio’s operations that could cause actual results to differ materially from projected results. Such statements are forward-looking in nature and involve a number of known and unknown risks, uncertainties and other factors, and accordingly, actual results may differ materially from those reflected or contemplated in such forward-looking statements. Prospective investors are cautioned not to place undue reliance on any forward-looking statements or examples. None of Ausdal Financial Partners or any of its affiliates or principals nor any other individual or entity assumes any obligation to update any forward-looking statements as a result of new information, subsequent events or any other circumstances. Tax and estate planning should not be construed as legal or accounting advice. Please consult with your tax advisor and/ or attorney. All statements made herein speak only as of the date that they were made.