James R. Wigen | Independent Financial Management, LLC l Top Independent Financial Advisory Firm

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Market Expectations in 2024?
My expectations for this year will be markets full of volatility, however, by the end of 2024, the markets will be higher from where they ended in 2023.

This growth will continue as long as the Technology Sector leads the way, and all signs are showing it will.

Part of the reason I think the markets will be higher, is due to 2024 being a Presidential Election year, which historically shows positive returns for the markets.

The sitting President will do everything they can to not allow a recession to form in 2024 ahead of his re-Election.

How can they do that you ask, one way could be to put a little pressure on the Federal Reserve to Add Liquidity to the markets, Aggressively cut Federal Funds Rate, which will keep investors excited for the future, and markets in rally mode.

In 2024, the volatility will come from Mediocre Economic Data causing markets to rise with anticipation Fed Funds Rate will be cut, followed by Mediocre Earnings Announcements with Lowered Forward Guidance by companies, causing the markets to decline.

Lowered Future Expectations by companies will worry investors that current stock prices can't justify Lowered Future Expectations, causing a market sell-off.

So, WHAT DO I DO YOU ASK, keep investing in Pre-Tax accounts, especially if you are in a 30%-40% Tax Bracket, like 401Ks, Solo 401Ks, SEP & Simple IRAs, sit in Cash / Money Market Funds & collect your 4.75%+ yield, and Very Slowly Buy Stocks Fitting Within Your Risk Profile on market declines.

Negative Markets create Opportunity, although at the time, it seems very uncomfortable to Buy!

If you are looking to Earn Additional Income from your portfolio this year, look into a strategy called "Selling Covered Call Options".

This strategy can be a great source used to create Income from Stocks you already own.

For Stock ideas, Contact Me and I Will Evaluate Your Risk Profile.
401K & Solo 401K / IRA / Roth IRA Contribution Limits for 2024
If you are under the age of 50, max contribution is $7,000 & if over 50 it's $8,000 for your IRA & Roth IRA.

Your 401K limit is $23,000 if under 50, $30,500 if over 50 years old.

For individual business owners, Solo 401K contributions in 2024 increased to $69,000 or $76,500 if age 50 or over.

Solo 401K contributions are based net- income from Self-Employment (i.e. you can't contribute more than you make).
How Much Should I Pay my Financial Advisor or Portfolio Manager?
The fees you will pay a Financial Advisor generally depend on how much money you are asking the Advisor to manage & whether part of those investment dollars include your 401K.

Try to avoid dealing with Financial Sales People who only want to charge you Commissions or try and Sell you A-share Mutual Funds.

Custom Portfolio Management

The first investment dollar most people spend is in their 401k plan. Those plans have only Mutual Fund investment choices, including, Equity Funds, Bond Funds & Money Market Funds. Some people have 20-25 investment choices in their 401k, others have between 5-10.

We understand that it’s hard to achieve the annual percentage rate people need when they only have a few investment choices in their 401k, and all of their investment choices consist of Mutual Funds. Once you retire or leave your employer, you should rollover the funds in your 401k plan to a self-directed IRA!

Self-directed IRAs have several thousand investment choices, ranging from individual Stocks, Bonds, ETFs, Mutual Funds, Annuities & even Real Estate can be purchased in a IRA. The more money you have to invest, the more you may want to hire a Private Portfolio Manager to Customize your investment accounts.

Several years ago, around 1998, you needed to have a minimum of $100,000 worth of investment dollars to hire your own Private Portfolio Manager. IFM has no account minimum requirements.

Advantages of hiring your own Private Portfolio Manager versus Mutual Funds

A Private Portfolio Manager will generally meet with you, understand what annual percentage or annual income you need from your investment dollars to get you into and through retirement. If you invest through Mutual Funds, your money is combined with other investors and the actual Manager or Managers have no idea who you are or what annual return or annual income you need to meet your goals.

IFM can be hired as your Private Portfolio Manager! IFM has over 27 years of experience as a Portfolio Manager & Financial Advisor.

IFM charges an annual fee based on the investment dollars you give him to manage.

IFM is not paid commissions on each investment transaction, only an annual fee, which you both agree on. The fee is billed quarterly, but is based on a annual percentage of the investment dollars IFM is responsible for managing.

This Fee-Based arrangement allows you and IFM’s interests to be aligned, both parties want to see your account grow and not decline.

Contact IFM to schedule a time to discuss your interest in Hiring him as your Private Portfolio Manager or Financial Advisor!

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