November 17, 2023

Market Updates & Strategies For Funding Charities During The Month Of Giving

55 minutes

In this episode of the podcast "New Focus on Wealth," host Chad Burton, a certified financial planner, discusses various topics related to personal finance, wealth management, and the economy. The episode begins with a disclaimer that the views and opinions expressed are not necessarily those of the radio station or its sponsors, and should not be taken as legal, tax, or investment advice. Listeners are encouraged to consult with an appropriate advisor before making any financial decisions.

Chad Burton starts by introducing himself as a certified financial planner and invites listeners to send in their money-related questions. He mentions that the episode will cover the current state of the market, IRA to Roth conversions, and strategies for funding charities during the month of giving.

The discussion on the market begins with an overview of the S&P 500 and its tech-heavy composition. Chad explains that the market has experienced a rally in recent weeks due to the Federal Reserve signaling a pause in interest rate hikes. He emphasizes the importance of not trying to time the market and highlights the need for a long-term perspective when investing.

The conversation then shifts to IRA to Roth conversions, which are particularly relevant for retirees. Chad explains that November is an ideal time for year-end planning, as individuals have a good idea of their tax situation for the year. He emphasizes the benefits of Roth conversions in retirement planning, such as maximizing tax savings and creating a tax-free growth account. However, he cautions that careful analysis and consultation with a financial planner and tax advisor are necessary to navigate potential pitfalls, such as the impact on premium tax credits and Medicare premiums.

Lastly, Chad discusses strategies for funding charities during the month of giving. He encourages listeners to consider their tax brackets and the potential benefits of donating appreciated assets, such as stocks or real estate, to minimize taxes and maximize charitable impact.

Overall, this episode provides valuable insights into the current market conditions, retirement planning strategies, and charitable giving considerations. Chad Burton's expertise as a certified financial planner shines through as he offers practical advice and encourages listeners to take a long-term perspective in their financial decisions.

Timestamps:

[00:01:19] Retirement readiness and planning.

[00:04:14] The impact of rising interest rates.

[00:09:36] The broad market performance.

[00:12:28] Bond market rally and rates.

[00:16:37] Real estate investment trusts.

[00:20:05] REITs and Small Caps Performance.

[00:23:16] IRA to Roth conversions

[00:35:00] Roth IRA conversions and taxes.

[00:38:09] Capital gains tax brackets.

[00:44:06] Moving money from an IRA to a Roth.

[00:45:52] Charitable giving strategies.