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

Popular Stock Symbols 2024
DIA
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GLD
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AMD
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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.

IFM’s Pro Bono Services

Stock Market Performance Changed Your Financial Plan? Do You Have a Financial Plan?

Receive IFM’s FREE 40 page Financial Plan and see if you are on track to Retire when you want and be able to fulfill your Retirement dreams!

IFM’s Pro Bono Financial Plan offer is designed to help All First Responders, All Military Personnel & Veterans, and Anyone who has received a recent Cancer diagnosis. We will not only complete the Financial Plan for Free, we will provide a detailed investment action plan for you, based on the results from the plan, and your stated Goals!

IFM Financial Plan includes:

Summary & Action Plan – Your Current Situation, Your Goals, Planning Details, Retirement Analysis & Actions James recommends you start taking,

Age at Retirement Analysis – See if you can afford to Retire at your desired Retirement age,

Annual Contribution Analysis – See if you are investing enough each year to get into & through Retirement,

Annual Investment Return Analysis – Pre / Post Retirement Returns needed to meet all your Retirement Goals,

Asset Allocation Graphs – For all of your investment accounts based on your Retirement Goals, Your Current Asset Allocation & Suggested Asset Allocation (Total Return),

Cash Flow Summary – Earned Income, Social Security, Qualified Plans, Investment Additions, Personal Living Expenses, Planned Debt Expenses , Education Expenses, Planned Deposits, Misc. Expenses, Taxes,

Retirement Capital Analysis – Retirement Spending Needs, Social Security, Pension Income, Education, What Age You MAY Run Out of Money,

Insurance Summary – Analysis, Term, Whole-Life, Universal Life,

Survivor Needs Analysis – Suggests Additional Life Insurance Coverage if Needed & How Much Additional would be Needed, Helping You Avoid Over-Insuring Your Family & Paying High Premiums,

Disability Income Insurance – Investment Income, Investment Assets, Retirement Assets, Spouse’s Salary, Pension Income, Changes in Living Expenses, Inflation, Education Needs, Taxes, Social Security Disability Benefits, Employer Disability Benefits,

Long-Term Care Needs – Long-Term Care Defined, Long-Term Care Need Analysis, Long-Term Care Unprotected Need,

Estate Planning – Current & Alternative Analysis, Net Worth Statement, Tax Estimate,

You can preview the Financial Plan questionnaire & Sample Financial Plan by looking at the bottom of the screen under James Books.

You will have the option to print out the questionnaire, complete the forms, scan & email the file to J.Wigen@IFManagers.com.

The information you provide Independent Financial Management, LLC, in order to complete your Financial Plan, will NEVER be shared with anyone other than IFM.

You have IFM’s GUARANTEE!