Quorum Private Wealth

We're coming up on year-end, which means it's a good time to take stock of where you are financially this year compared to last year. We put together a full, interactive checklist to help make the process painless. A few key points? ➡️ Has you income changed in the past year / do you expect it to change next year? ➡️ Did you make any big purchases—cars, homes, fine jewelry? ➡️ How many months of living expenses does your emergency fund cover? The checklist can help you spot any potential problems before they occur, and can help your financial advisor know if they need to make any adjustments to your plan. Plus, it can be helpful to see you're on track heading into the holidays. https://lnkd.in/g3zJQKyx

💥 REMINDER: Don't spend your bonus as soon as you hear you're getting one 💥 Not only do we have a few ideas for how you can put your bonus to work for you... we're also here to remind you that bonuses tend to come with a tax surprise. There's a lot of misinformation out there about this, so we want to be really clear: 💥 The IRS taxes bonuses as ORDINARY INCOME. 💥 The rules around *tax withholding* on bonuses are different than the rest of your salary. 💥 That means companies tend to *WITHHOLD LESS TAX THAN YOU OWE.* If you don't plan for this and spend your entire bonus, you could be facing an unpleasant tax surprise in April. #TheMoreYouKnow https://lnkd.in/gMuYjH6a

It's that time of year again... and we're not talking about the holidays. If you've met Quorum Managing Partner Kelly Milligan, you know deferred compensation plans are one of his favorite things to talk about. Why? It's simple: It's one of the best, most powerful, fully legal ways to shrink your tax bill. The catch? It's not available to everyone. And since so few people can access these plans, many of the people who CAN access deferred compensations don't know enough about the benefit to take full advantage. Kelly's on a mission to change that. And this is the time of year when most companies allow qualifying employees to opt into these plans. Here's what you need to know about whether you might qualify, how the plans work, and what the next steps are if you have access to a deferred comp plan. https://lnkd.in/guNnxAjP #DeferredComp #Benefits #FinancialPlanning

The stock market fell slightly in October but with the uncertainty of the election behind us, we've already seen a big jump in the S&P 500 to start the month. Much of last month's economic news got buried in the runup to the election so a quick refresher: ➡️ The unemployment rate held steady at 4.1%. ➡️ Prices in September were up 2.4% from 2023, a "normal" rate of inflation. ➡️ The Fed announced a 0.25% rate cut in November. https://lnkd.in/dSpsDW9S

Sunny Springer and I had the opportunity to volunteer alongside Protiviti's NYC team. Together, we packed over 20,000 meals in partnership with Rise Against Hunger. Thank you Matthew Perconte for the invite to participate! Quorum Private Wealth

Inflation proved to be a MAJOR issue to voters this fall. While government data showed prices have largely stabilized—things cost about 2.4% more this year than last year—most people don't feel like anything has changed. Why is that? 🧮 Some of it has to do with how inflation is calculated. 📈 Some of it has to do with the long-term effects of inflation on businesses and the economy. ... but ALL of it impacts what's next for markets, the economy, investors, and potentially even government policy. https://lnkd.in/gf-ZE-vW

Fed Chair Jerome Powell announced a 0.25% rate cut in November. But the press conference afterward had everyone talking about more than just the Funds rate. 🤝 Powell is a Trump appointee; President Biden reappointed him to a second term. 🗣️ During the campaign, President Trump threatened to fire Powell if he won reelection. 🎥 Reporters asked Powell if he would step down if requested; he answered no. Experts think it's likely Powell will remain at the helm for the rest of his four-year term, which ends in May 2026. In terms of what that means for the rest of us? 🔎 Rate decisions were already under the microscope as the Fed attempts to lower rates without spurring inflation, which finally looks to be under control. 📰 We might get more headlines about the Fed, including Trump's thought about monetary policy; while this is a break from tradition, it was also a trademark of the first Trump Administration, so there's less of a surprise factor at play. We'll continue to watch rates, and their impact on investments and the overall economy, closely so you don't have to.

Is political debate and respectful civility mutually exclusive? The answer was a resounding "no" at the political panel Kelly Milligan, CPWA®, CRPC®, C(k)P®, CPFA moderated at #OASIS2024 in Hollywood FL.  He was joined by Morgan Ortagus, former spokesperson for the US State Department during the Trump administration, and #JulianCastro, former HUD Secretary during the Obama administration, for a lively and engaging discussion.  They covered which candidate is likely to win, what is likely to happen "down ballot" and policy issues ranging from taxes to immigration to national security/foreign policy. Thanks to Kelly's two panelists who both demonstrated an impressive understanding of the political landscape while maintaining the courtesy and grace that is so often lacking in the public square.

I'm thrilled to announce that Mike Barry, CIMA® is an Advisor Hub ADVISOR TO WATCH for 2024, coming in at No. 34 for advisors managing more than $1B in assets. We weren’t sure Mike would be able to top the hole-in-one he hit to kick off the year… but he did! While we do this for our clients, it’s always a treat to see our team recognized along with some of the best in the business. Congratulations, Mike! *Advisors to Watch 2024, created by AdvisorHub. Presented June 2024 based on data gathered from 12/31/2022 to 12/31/2023. No fee was paid to be included in the ranking or to hold out marketing materials. Not indicative of advisor’s future performance. Your experience may vary.

Who will be better for the jobs market: Donald Trump or Kamala Harris? 📈 Each party is preparing to home in on certain statistics and craft detailed arguments for why their opponent would be disastrous for the economy. 📈 ➡️ But does that play out in the data? We pulled the headline unemployment rate starting in January 2017 when President Trump took office and carried it through this summer. 🤔 The crazy part? There wasn’t much difference between the two presidents. Of course, not all jobs, industries, or locations are created equally. Especially not in a pandemic. 👩💻 So, we also pulled the data to show you the total number of information sector jobs (that includes the tech sector) during that time. Hopefully these trend graphs can help you bypass some of the spin and stay focused on the big picture. https://lnkd.in/gX2gEvyW