Pineapple Express deluge! 49r’s versus Chiefs Super Bowl. Mustard starting to bloom in the Valley. How can it get any better than this?
January has been a month of adjustments as staff has shifted. We added two part time helpers; Jack Vester and Maxwell Hyytinen (it’s Finnish), and Lidia has been learning new stuff like crazy. And we are also growing like crazy as people want sound financial advice. If you know anyone who is licensed and looking for an opportunity, we’d love to talk to them.
So what happened in the markets in January? The Dow Jones Industrial Average was up 1.22%, the S&P 500 was up 1.59% - a quiet month but positive numbers. It appears that the talk of a recession has receded, and mortgage rates have gone down a smidgen. The economy is looking pretty good. But prognosticators amaze me as you can line five up and get six opinions - the first will change his mind after hearing the other four! To avoid the pain of a recession, please keep an adequate reserve of cash: three to six months of fixed expenses set aside in an account you can easily get at. As I write this I see that Capital One is offering 4.35% (https://www.capitalone.com/bank/savings-accounts/online-performance-savings-account/) * and many banks have 5+% in short term Certificates of Deposit.
Tax forms should all be out in the next week or so and you can find them in Advice Works under the Document section. They will be mailed out, but for eager beavers, check out Advice Works. What can you do to adjust your tax situation? Not much since the calendar has turned over, but you can still contribute to your IRA until tax filing time (or your SEP IRA if you are self-employed). After you get your return, send us a copy and we can make some suggestions to make 2024 look a little brighter (more money in your pocket, less to Uncle Sam).
A look at the calendar
February 2 – Groundhogs Day – when Phil predicts how long winter will last
February 14 – Valentines’ Day – remember your sweetie
February 17 – Random Acts of Kindness Day
February 19 – Washington’s Birthday and the stock market (and Harvest Financial) are closed
I have two sons born in February so I have to remember that
February 29th – Yes, this is a Leap Year and February has an extra day!
Enjoy the extra day this month and create something extra in your life!
*= Investments are Not FDIC/NCUSIF insured/ May lose value