Weekly Wealth of Knowledge – Week of 11/11/24

Posted November 12, 2024

By Byrke Sestok

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Welcome to our Weekly Wealth of Knowledge for November 13th where we invite you to explore the latest regarding financial planning, market topics, happenings across our Moneco communities, trends in managing your financial life, and more. This November, we are reporting on the topic of Giving.

If you enjoy our Weekly Wealth of Knowledge, don’t forget to visit us on Facebook, Linkedin, and X for more wealth management resources, insights and firm updates.

In this issue, we highlight:

Insights: Using QCDs In Your Giving Plan
Community: Giving Back To Veterans
Market Indicators: How Homebuying In America Changed

Using QCDs In Your Giving Plan

Qualified Charitable Distributions (QCDs) offer a tax-efficient way to support causes you care about by allowing individuals aged 70 ½ and older to donate directly from their IRAs to qualified charities.

Key benefits include:

Direct impact investing
Potential tax savings
Help with RMDs

Overall, adding QCDs to your giving strategy can potentially enhance your charitable impact while providing valuable tax benefits.

Learn more in the video and blog below or reach out to discuss your questions on tax planning and giving.

Insights Blog On QCDs

Giving Back To Veterans

Many of us have a relative, neighbor or friend who is a Veteran. This past Monday, November 11th, we honored Vets across the country for their service.

Unlike Memorial Day which remembers and memorializes the service men and women who have passed, Veteran’s day focuses on honoring all who served. Today, the pewresearchcenter.org estimates that there are over 18 million veterans living in the United States. We at Moneco sincerely honor our Veterans for their service and their efforts.

We want to take the opportunity here to share an article from gofundme.com highlighting 15 ways for Veterans to gain additional resources that may be useful to integrate back into civilian life. The goal is to help Veterans among us to utilize available information and reach organizations as needed, to help empower them in their lives and overall outlook.

If you know a vet who would benefit from a financial plan, please let us know. Check out the article below highlighting organizations and strategies that can help Veterans across the U.S. Please pass the article on to anyone whom you feel can use the information.

Learn More: Resources For Veterans

How Homebuying In America Changed

Today, according to CNBC.com, the median age of first-time homebuyers in the U.S. has reached 38, an all-time high, reflecting challenges young buyers are facing due to higher home prices and down payment requirements. First-time buyers now represent only 24% of the market, the lowest share since 1981, partly due to a shortage of affordable housing and intense competition from wealthier buyers. And a four-million-home deficit continues to drive up prices, despite recent increases in new construction.

Repeat buyers, especially Baby Boomers, often hold a strong advantage with high home equity, enabling some to pay in cash. Meanwhile, rising rent costs prevent many renters from saving for a home or paying down debt, hindering their ability to qualify for mortgages. These factors collectively make it harder for younger adults to achieve homeownership.

Learn more in the link below, and please reach out with any questions you may have regarding your financial plan.

Read The Full Article Here

Important Disclosures

^{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.}

^{All images by Freepik.com}