Wealth and Wisdom: Week of January 8, 2024

We’re coming off an exceptionally good year for stocks – the S&P 500 was up 26.3% in 2023 – but if you own a diversified portfolio, you might not have felt the full impact. Nearly two-thirds of the S&P’s return last year was concentrated among just seven giant growth and technology stocks. By contrast, investors who focused on energy and utility companies may have actually lost money in 2023.

With inflation seemingly under control and the Fed signaling it might start cutting interest rates in 2024, hopes are high that this could be another good year for stocks. But keep in mind that the biggest catalysts for big gains – and big losses – are rarely even on the radar at the beginning of the year.

So let’s take a quick peak back – and then get started on what promises to be an interesting year. We look forward to making the journey with you.

6 charts that help explain 2023

From AI to egg prices, 2023 had a little something for everyone. (Reading time: 4 minutes)

2024: What we don’t know yet

The only thing we know for certain about the future is that we know nothing for certain about the future. And risk is what we haven’t thought of yet. (Reading time: 4 minutes)

Some good news to kick off the New Year

The percentage of Americans who own stocks has never been higher. Bonus item: The U.S. is now producing more oil than any country in history. (Reading time: 5 minutes each)

Waiting for the next bailout?

After more than three years of not having to pay federal student loan payments – nearly 40% of borrowers aren’t making required payments. (Reading time: 4 minutes)

Realtors facing a huge legal challenge

You won’t need to read much of this lengthy article to realize that the future is going to be radically different for real estate agents. (Reading time: 12 minutes)

Retirement goals to pursue in 2024

Regardless of your age, here are some things you need to start thinking about if you ever plan to retire. (Reading time: 6 minutes)

A tax guide for retirees...

If you’re planning to retire this year, this concise guide from the IRS is a great place to start looking for answers to your tax questions. (Reading time: 7 minutes)

…and some new help for Medicare recipients

New legislation that phases in over the next three years could lower out-of-pocket drug costs for people with Medicare. (Reading time: 3 minutes)

Budget apps can increase cybersecurity risk

Personal finance apps can be a big help in managing your spending – but they collect valuable personal data from you in the process. (Reading time: 5 minutes)

Financial wisdom that will likely live on

Charlie Munger taught us that most of what is truly important when it comes to money – is basic and understandable. (Reading time: 4 minutes)

“No matter how much research you do, you can neither predict nor control the future.”

– Peter Lynch

Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of Brown Family Wealth Advisors and not necessarily those of Raymond James. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Expressions of opinion are as of this date and are subject to change without notice. Past performance does not guarantee future results. Prior to making an investment decision, please consult with your financial advisor about your individual situation.

The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market.

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