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1 | Week In Review
Annex strongly believes in frequent and meaningful communication.
Each Friday after market close, our experts record the “Week In Review”- exclusive insights to help you stay on top of the latest financial news.
The ISM Index seems to indicate a growing service economy, which means the Fed is likely going to stick with higher interest rates for a while. What does a 50+ ISM mean for those predicting an upcoming recession? Annex Wealth Management’s Dave Spano and Derek Felske discuss.
2 | Poll Exclusive
Find out results from a recent survey on inflation and its impact on retirement numbers to Celebrate National 401(k) Day.
Just how much do you need to retire? How has inflation impacted retirement numbers within one year’s time? Would you take a new job without retirement benefits? Americans weigh in on these questions and more.
Instead of revealing the answers of last week’s poll, we’re going to hit pause and continue celebrating National 401k Day looking at how much you’ll need to retire and inflation’s impact on these numbers. According to a recent survey from Charles Schwab, Americans believe they’ll need around $1.8 million saved for retirement, up from $1.7 million last year and only 37% of Americans believe they’ll reach the goal, a 10% decrease from last year (source). 62% of Americans believe inflation is making it difficult to save for a comfortable retirement, compared to 45% last year and strongly believe inflation is influencing American’s spending and savings habits.
Saving for retirement hasn’t always been a guaranteed option within a benefits package offered to new hires when considering a new job. However, having a 401k plan is now becoming a requirement for candidates seeking new employment. 88% of potential employees reported potential employers offering 401k is a “must-have benefit,” while 3 out of 4 candidates report if a 401k isn’t offered, they’ll turn down a job offer. In addition to having a 401k, retirement savings continues to be a priority with 68% of Americans putting money into a savings account, up from 61% last year, and 47% reported IRA investments, an increase from 33%.
Having $1.8 million dollars in your retirement account may seem overwhelming and above what you’ll need for a comfortable retirement but retiring at 65 and withdrawing 4% of savings each year would translate to about $72,000 annually in retirement income (source). Last year the average retirement account held $113,000, and $233,000 for Americans retirement age, 65 and older.
The gap is alarming between what Americans believe they’ll need and what is in their account at retirement, adding to anxieties fueled by the increase in inflation. The increase in interest rates has made it more expensive to borrow money. Despite these increases and anxieties, Americans report they continue to put around 12% of their pretax income into their 401ks. If you haven’t been very active in your retirement planning, now is your time to make some adjustments and get on track.
The balance of a retirement account can be impacted by factors you can’t control such as inflation and the market. Instead, focus on the percentage of your paycheck you annually contribute to your retirement savings account, keeping in mind the annual and catch-up contribution limits.
If you’ve maxed out your 401k contributions, there are additional ways to save for retirement. Within the last year employee’s confidence in financial decisions with professionals almost doubled from 27% to 49% and 73% said they’d like personal advice on their 401k plan. Be sure to connect with a Wealth Manager to make sure you’re on-track to retire. Finish 2023 Strong. Update Your Plan Now.
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3 | Client Exclusive
Tips, strategies & information written exclusively for Annex clients.
The TD Ameritrade & Schwab Transition Is Complete!
The TD Ameritrade & Schwab Transition Is Complete! Be sure to read the email from Annex Wealth Management for answers to FAQs about immediate impact items that you’ll want to know moving forward:
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- Statement access and delivery preferences
- Account Verification letter from Schwab
- Viewing permissions
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If you have accounts open through TD Ameritrade and would like to reference the communications you’ve received from Annex without having to dig through your email, you can visit the Client Center on our website where all correspondence is now housed.
You can get to this information via the home page of the Client Center, or by clicking here!
If you still find you have questions, please reach out to your Wealth Manager or Client Service Manager.
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4 | Know The Difference
Hot topics, fresh stories and useful formation; all in 60 seconds.
Don’t Fear September? | Is September The Worst Month For Stocks?
People who look at stock charts say September is the worst month for stocks. Is it?
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5 | Ask Annex
Each week, members of the Annex Wealth Management team answer your questions about investing, money and the economy.
Keeping Gifts Secret | HYSA | HSA For COBRA? | Leftover In 529 | Is The Dollar Vanishing?
Ask Us A Question!
6 | What’s Playing
Broadcasts from our radio shows and videos from our YouTube channel to educate on comprehensive wealth management planning, including investment, estate, tax & retirement planning.
Couples with significant differences in ages- 8 or 10 years or more- are likely to find themselves at odds when they’re on the cusp of a retirement decision, and then throughout their golden years.
Join Annex Wealth Management’s Amy Bremmer, MBA, CFP®, as she shares four steps to navigating the potentially rough waters of retirement planning with an age gap to ensure as a couple, you Refresh Your Financial Future. Calibrate Your Financial Plan.
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7 | Quote of the Week
Axiom (noun): A statement most people believe is true. It can make you stop & pause to consider something new.
This week we celebrate National 401(k) Day! Use this reminder to review your strategies and make sure they align with your future goals. It’s not too late or too early to start planning for your future now.
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| Annex In Action
The Annex team regularly seeks out opportunities to support and participate in events throughout the community.
Employees of Annex Wealth Management gathered in Jefferson County, WI for a 20-mile bike ride centered around raising money for local charities.
Beyond Design Bike Tour was a weekday bike ride started 18 years ago to emphasize team building and networking between partners, clients and friends focusing on the mission to improve the quality of life for people in the communities we live and work.
| Events & Webinars
Annex Wealth Management provides free workshops, open to the public, on key wealth management topics.
Join us Tuesday evening for our upcoming event at our Elm Grove office: Are Annuities Worth It?
Annuities are one of civilization’s oldest financial instruments. But what are they, and do their benefits outweigh their pitfalls? Annex Financial Planners discuss if and when an annuity might make sense – and potential dangers of annuity ownership.
Join us every Third Thursday for an interactive presentation where we will be discussing key financial topics.
Annuities are one of civilization’s oldest financial instruments. But what are they, and do their benefits outweigh their pitfalls? Annex Financial Planners discuss if and when an annuity might make sense – and potential dangers of annuity ownership.
6:00-7:30 PM CT @ Concordia University Wisconsin – 12800 N Lake Shore Dr, Mequon, WI 53097
Annex Wealth Management’s “Navigating The Markets” is an interactive presentation focused on providing information and insight on today’s economy.
Join Annex Wealth Management’s Brian Jacobsen and Dave Spano as they walk you through where we are and where the Annex Investment Team believes we’re headed.
In addition to taking your questions, Brian and Dave will discuss:
• Headwinds for the economy and markets
• Whether the long-awaited recession will ever happen
• The historical significance of today’s economy
• What you can do to calibrate your portfolio
6:00-7:30 PM CT @ Madison Marriott West – 1313 John Q Hammons Dr, Middleton, WI 53562
Annex Wealth Management’s “Navigating The Markets” is an interactive presentation focused on providing information and insight on today’s economy.
Join Annex Wealth Management’s Brian Jacobsen and Mark Pent as they walk you through where we are and where the Annex Investment Team believes we’re headed.
In addition to taking your questions, Brian and Mark will discuss:
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- Headwinds for the economy and markets
- Whether the long-awaited recession will ever happen
- The historical significance of today’s economy
- What you can do to calibrate your portfolio
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6:00-7:30 PM CT @ Sharon Lynne Wilson Center for the Arts – 3270 Mitchell Park Dr, Brookfield, WI 53045
Annex Wealth Management’s “Navigating The Markets” is an interactive presentation focused on providing information and insight on today’s economy.
Join Annex Wealth Management’s Brian Jacobsen and Dave Spano as they walk you through where we are and where the Annex Investment Team believes we’re headed.
In addition to taking your questions, Brian and Dave will discuss:
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- Headwinds for the economy and markets
- Whether the long-awaited recession will ever happen
- The historical significance of today’s economy
- What you can do to calibrate your portfolio
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5:00-6:30 PM CT @ Fox Cities Performing Arts Center – 400 W College Ave, Appleton, WI 54911
Annex Wealth Management’s “Navigating The Markets” is an interactive presentation focused on providing information and insight on today’s economy.
Join Annex Wealth Management’s Brian Jacobsen and Jeff Daye as they walk you through where we are and where the Annex Investment Team believes we’re headed.
In addition to taking your questions, Brian and Jeff will discuss:
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- Headwinds for the economy and markets
- Whether the long-awaited recession will ever happen
- The historical significance of today’s economy
- What you can do to calibrate your portfolio
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WHY WE WALK
Thank you for helping us reach our fundraising goal! Together we can make a difference in the lives of those affected by ALS. Our team is committed to raising money to support people in our community with ALS and spread awareness of the urgency to find treatments and a cure. Please consider joining our team in the Walk to Defeat ALS® or choose a team member from the list and donate to our cause.
WHY WE NEED YOUR HELP
Every 90 minutes a person in this country is diagnosed with ALS and every 90 minutes another person will lose their battle against this disease. ALS occurs throughout the world with no racial, ethnic, or socioeconomic boundaries.
That’s why we’re participating in the Walk to Defeat ALS. To bring hope. To raise awareness. To provide resources and services to families free of charge. To help unlock the mystery of ALS and find the key to treatments a cure. Will you join us?
ABOUT ALS
Amyotrophic lateral sclerosis (ALS) is a progressive, fatal neuromuscular disease that slowly robs the body of its ability to walk, speak, swallow and breathe. The life expectancy of a person with ALS averages 2 to 5 years from the time of diagnosis.
ALS can strike anyone. Presently there is no known cause of the disease, yet it still costs loved ones an average of $250,000 a year to provide the care people living with ALS and their families need. Join the movement to provide help and hope today!
BROWSE EVENTS →
| The Annex Wealth Management SWOT Podcast
Each week, members of the Annex Wealth Management Investment Team discuss the Strengths, Weaknesses, Opportunities, and Threats of the markets and economy. Go deep and listen to the team talk through what’s helping guide their decisions.
This Week’s Focus: Government spending on infrastructure set to ramp up but potential pain ahead for consumers. While markets look to be turning up and it’s time to get selective, rising energy prices are inbound.
