Hello and Welcome to our September Financial Planning and Capital Market Update!
If you are too busy to read, feel free to listen as we describe our post and thoughts in friendly podcast audio format as well as Video!
Newbies –
We like to articulate our thoughts and review on a Monthly basis our Financial Planning Tips, Capital Markets thoughts and current events!
Hope you enjoy!
September 2024 Video
YouTube
Financial Planning Tip(s)
Retirement Run Check time – Correct amount is $30,500 with Catch Ups
In this 401k Run Rate reminder post we ask everyone to double check their 401k or the like withholdings….
Here is the meat of the post with the $500 over amount corrected from the post!
Ideally your year to date (YTD) contribution levels for your 401(k) regular withholding by yourself should be about $17-$18k in order to meet the $23k regular filing maximum by the end of the year and if our goal is to achieve the $30.5 K catchup for those 50 and older we should be at least at the $23 – $24K level today. Both of these should be our individual YTD withholding amounts. We know there are matching and employer contributions … but the rules are set for us as an individual. Catch ups are the usual problems, so make sure if you are 50 or turning 50 this year, your employer knows you want to do a catch up contribution!
RMD’s Beginning soon – D’s for some Non RMD’s
Just Friday we posted a note on RMD’s here –
We also had the following chart which is basically highlighting the goal of levelong out taxes rather than delay and tidal wave them on to us!
Capital Market Comments
Rate Cuts – Larger than Expected – Fully Un-Inverted Yield Curve –
After getting a TOTAL kick out the AI picture created of a Fed Official eating porridge i.e. Not too hot, not too cold… Surprise events led to multiple instances of use!
In this early month post we noted the yield curve un-inverted and wondered if it would stay? This first move was driven from a weak economic report, which we covered in the post…
Weak Monthly Employment Report leads to Rates Un-inverting FINALLY … Whispers of Larger Rate Decreases ? Pro Tip Reminder! (Coming back to the Pro Tip at the end)
They we went with the Porridge – Post and our (at least in our minds funny AI picture)
Then the FOMC did actually lower rates, by a higher than expected 50 basis points or .5% – Threading the needle and giving participants cheer!
Back to the Pro-Tip noted earlier – which is longer term rates do not always come down with the lowering of short term rates… this could be positioning or a fear of higher inflation!
Have a Great Day, Talk to You at the End of October !
John A. Kvale CFA, CFP
AI Content Authenticity: AI was used to create the Blob picture – All of the following written content has been completed by myself and has not been edited or created by AI. Occasionally we do use AI for images and will note so when used.
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
