First, a reminder that our office will be closed on Monday, July 4, in observance of the Independence Day holiday.
We hope you have a safe and enjoyable long weekend!
This is the last Lowry Letter® of the first half of 2022, and what a half it has been. Stock and bond markets have found some stability (at least as of the writing of this letter).
Air travel issues continue to be in the news. While returning from a Commonwealth conference, Joe Jr’s initial morning flight from Boston was cancelled. He was rebooked on a later Delta flight that same day that, despite arriving on-time in Atlanta, could not deplane its passengers for more than one hour, leading him to miss his connecting flight home. The delay was the result of congested gates and then a lack of jetway “drivers,” someone to connect the bridge to the plane. The captain explained that a lack of personnel was a constant challenge, especially on weekends. Since that flight to Gainesville was the last of the day, the airline provided a hotel room, at their cost. Proof of an economy that is open, but not yet normal almost 2 ½ years after the pandemic started.
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MID-YEAR is a great time to check on the following:
- Are you maximizing retirement savings opportunities? Review your paystubs to see if you are on pace to hit your savings goal.
- Are beneficiary designations up-to-date? As children age and other life events happen, updating retirement accounts is important.
- Do you have other savings or spending priorities that we have not discussed? Let us know and we can make sure we have a good plan in place.
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Onto other items:
- Fraud continues to be common. If someone asks you for money or personal information, and you have ANY DOUBT AT ALL about its legitimacy, please call us. We will happily help you determine whether it is a real need.
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Q: What should I know about I bonds?
A: We get many questions about I Bonds these days. We think they can be a good choice for excess savings. For example, for those who have more cash than they “need,” I Bonds are a low-risk product that can provide some inflation relief. There are a few things to keep in mind:
- Purchases are limited to $10,000 per taxpayer each calendar year.
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You must buy them directly from the U.S. Treasury, at TreasuryDirect.
- To receive the full interest accrued, they must be held for at least 5 years, otherwise you lose the last 3 months of interest. They will pay interest for 30 years from issue.
- The interest rate they pay is adjusted every 6 months, and sometimes will provide a less favorable return than other investments.
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This material is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. I Bonds do not offer regular investment payments but instead provide principal and interest at maturity, or when cashed out. They do not offer daily liquidity, must be held for a minimum of 1 year, and have a variable interest rate. There are penalties associated with redeeming bonds before maturity |
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Advisory Services offered through Lowry Financial Advisors, Inc., a Registered Investment Adviser. Securities and additional advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Advisory services offered through Lowry Financial Advisors, Inc, are separate and unrelated to Commonwealth. Lowry Financial Advisors, Inc. is located at 12921 SW 1st Rd, Suite 215, Tioga, FL 32669. 352-333-7990 |
Lowry Financial Advisors is the only advisory firm that helps its clients reach their goals through The Achieving Simplicity® Experience™, providing clarity and confidence in their personal and financial lives.
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