What should financial marketers and advisors talk about this month? Our monthly roundup has you covered with timely topics for blog posts, social media campaigns, and other marketing ideas.
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Recession – is it just around the corner, are we already in it, or is the anxiety overblown?
It’s a burning question these days as the likelihood mounts, stoked by high inflation, increasing layoffs, rising interest rates, and a volatile stock market. Focus on the facts and temper investor anxiety via an explainer piece or Q&A with advice that holds true now and in any uncertain climate.
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President Biden recently signed the Inflation Reduction Act, a sweeping energy, tax and healthcare law. What does it mean for your investments – and your wallet?
Initial reactions are mixed, but many observers are bullish, arguing that new opportunities are on the way to invest in clean energy, electric vehicles, commodities and mitigation technology. The law also gives the green light to Medicare drug-pricing negotiation and expense limits. Consider outlining key elements, with a focus on changes, enhancements and savings that affect your target audience the most.
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Now that the first semester of a new school year is underway, it’s a great time to check in on the reality of student expenses vs. the budget.
It’s common for both students and parents to underestimate some costs – or vice versa – so some course correction may be in order. Typical spending for books and supplies can run $1,240 a year, according to College Board data, and transportation adds another $1,230 annually. But what about all the other incidentals, like food beyond the dining plan, entertainment, fraternity/sorority dues, tech services, parking fees and dorm life?
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As high inflation continues to strain family budgets, give your audience some good news by making them aware of a slew of state stimulus checks, child tax credits and supplemental tax refunds. At least 21 states are offering residents financial relief to help offset higher household costs like housing, gas and groceries. And 16 states intend to make various levels of child tax credits available to eligible families.
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Roth IRA conversions have become more appealing this year as sharp stock market declines mean you may be able to convert more of existing investments for the same tax bill. Plus, thanks to the Tax Cuts and Jobs Act of 2017, low tax rates will continue until the end of 2025, at which point they will increase to 2017 rates. The upshot? Converting assets to a Roth now may offer a rare chance to pay taxes up front at a discount.
Still, Roth conversions can be complex strategies, so it’s important that your audience understands the pros and cons – and how their individual financial situation and preferences should guide the decision to make the switch. And reminding clients that a review with a financial or tax advisor is always a must when weighing this strategy – as Roth conversions aren’t reversible.
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