Client Axiom | Vol 278
Markets Finish Off Another Great Month As Inflation Rises
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Meet The Axiom®’s Guest Editor: Nikki Trudell
My role involves working closely with the Wealth Managers and assisting with our clients’ needs. I really enjoy getting to know our clients and working alongside an exceptional team.
My husband Jeff and I are recent empty nesters which has been quite an adjustment. We love spending time with our two sons, spoiling our dogs, fishing, camping, and cheering on our Wisconsin sports teams.
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Markets Finish Off Another Great Month As Inflation Rises
Markets closed out another historically positive month. Earnings season has been favorable, although Apple and Amazon both reflected supply chain problems. What do analysts see coming as we near the holidays? Annex Wealth Management’s Derek Felske and Deanne Phillips discuss.
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Happy Halloween!
Whether you’re in a sugar coma already or getting out your cape to complete your costume for this evening, that can only mean one thing: it’s Halloween weekend!
A day that children and candy companies alike look forward to, this week’s Axiom falls right on Halloween. Some communities had trick-or-treat last night, while some have chosen to participate the day of. No matter where you fall, we wanted to put together a few fun facts about the holiday to impress your friends, neighbors, and fellow trick-or-treaters with on the spookiest day of the year!
Halloween originated as a Celtic festival:
Dating back over 2,000 years, the Celts believed that the dead would return on the night before their new year during their festival called Samhain, celebrated at the close of the harvest on October 31. To ward them off, they would lite large fires and don costumes.[1]
Jack-o-lanterns were inspired by an Irish legend:
The tale goes that a man named Stingy Jack fooled the devil one too many times, and when Jack died, the devil would not take his soul, therefore Jack was sent to roam the earth with only a burning coal inside a carved turnup to light his way. According to the tail, his ghost was called ‘Jack of the Lantern’ and later shortened to ‘Jack ‘o Lantern’.[2] Creepy, right?
Speaking of Jack-o-lanterns…
The Guiness Book of World Records states that the town of Keene, New Hampshire holds the record for the most Jack-o-lanterns lit. The town was able to get 30,581 lit at one time during its Let It Shine fall festival.[3]
Trick or treating has been around since the Middle Ages:
People began practicing the tradition of “mumming” where they would dress up as ghosts and demons and go door-to-door performing songs and scenes from plays in exchange for food and drink. It’s taken many years to get to where it is today, to say the least![4]
The world’s longest haunted house is 3,564 feet long:
The Haunted Cave, located in Lewisburg, Ohio is a limestone cave that is 80 feet underground. Filled with actors, spectacles, and even 30,000 bats, you can visit this Guiness Book of World Records site for an incredible (and scary) experience unlike any other. And, bonus, it doesn’t shut down even if it rains.[5]
Handing out candy wasn’t a thing until the 1950s:
Prior to candy companies realizing they could capitalize on trick-or-treat, children would receive things such as fruit, nuts, pieces of cake, or little toys in exchange for uttering (or yelling) the popular phrase.[6]
But when candy become the norm, it took off:
Americans purchase nearly 600 million pounds of candy per year for Halloween, and about 90 million of those pounds are bought by last minute shoppers the week leading up to Halloween. Chocolate candy far outsells sugar candy and Americans seem to have a love-hate relationship with Candy Corn, as it fluctuates entry on the best and worst candy lists frequently.[7]
You can impress your friends with these facts while enjoying some fun size candy bars this weekend. We hope you have a safe, fun, and not so scary weekend! Happy Halloween!
Have an idea you’d like us to write about, or a story to share? Send us an email at cl************@*********th.com.
[1] https://www.history.com/topics/halloween/history-of-halloween
[2] https://www.history.com/news/history-of-the-jack-o-lantern-irish-origins
[3] https://www.guinnessworldrecords.com/world-records/most-lit-jack-o-lanterns-displayed
[4] https://www.thepioneerwoman.com/holidays-celebrations/a36915963/halloween-facts/
[5] https://www.thepioneerwoman.com/holidays-celebrations/a36915963/halloween-facts/
[6] https://www.thepioneerwoman.com/holidays-celebrations/a36915963/halloween-facts/
[7] https://mobile-cuisine.com/did-you-know/candy-fun-facts/
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“What I really like about the Axiom are our polls. It’s always interesting to see how others respond and I enjoy taking them as well. “
– Guest Editor: Nikki Trudell | Client Service Manager
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You asked, we listened.
New education for topics that are on your mind.
Clients have been asking questions around the topic of diminished capacity and how it can affect the financial outlook of their families and loved ones. We’ve tailored an Annex University to educate our clients about things to consider, conversations that should be had, and helpful ways to plan so that the transition to a new stage of life can be as organized and prepared as possible. We encourage you to join us for our Financial Considerations Around Diminished Mental Capacity webinar.
This Annex University addresses some key financial concerns around a mental decline: care options, impact on family caregivers, the cost of care and estate planning considerations are touched on in this workshop. We understand that this can be a difficult and confusing transition for everyone involved, and we want to help you understand the role you can play in planning for the future.
Please join us Thursday, November 11 from 4 – 5pm central time to learn more about this important topic and have any questions answered by our team. You can register for the webinar and check out our other offerings below in the events section.
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This week’s Ask Annex comes from Larry, who asks:
“What amount determines your RMD? Is it the day you actually take it or the amount in your IRA at the beginning of the year?“
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We asked Annex Wealth Management’s Eric Strom, CFP®:
Your required minimum distribution (RMD) is calculated based on the value of your IRA or other retirement account, such as a 401(k), as of 12/31 of the previous year. The 12/31 value is divided by a life expectancy factor in the IRS Uniform Lifetime Table. Your age at the end of the current year is used to determine the life expectancy factor.
However, a different IRS table is used if you are married and your spouse is the only primary beneficiary of your account and is more than 10 years younger than you. In this case, your RMD is calculated using the 12/31 value and the IRS Joint Life Expectancy table. Both your spouse’s age at the end of the current year and your age at the end of the current year determine the life expectancy factor used if the aforementioned conditions are true. If you are a beneficiary of an account (an inherited IRA), you may or may not have an RMD obligation. Check with a financial planner for help with your specific situation.
- If you own multiple IRAs, the RMDs must be calculated separately for each account.
- However, the total RMD amount can be withdrawn from one or more of your IRAs.
- Conversely, RMDs from other retirement accounts such as 401(k)s must be withdrawn separately from each account.
We hope that this answers your question. Please reach out to us here at Annex Wealth Management if we can be of any further assistance.
Eric Strom, CFP®
Financial Planning Manager
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KNOW THE DIFFERENCE MINUTE:
McDonald’s Higher Prices, New Menu Items, Celebrities
KNOW THE DIFFERENCE MINUTE:
Purchasing Power Vs. Pricing Power
ANNEX RADIO
Why Do Some Women Start Planning Later Than They Should?
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