Latest News from The Musuneggi Financial Group

Social Security: Options to Help Maximize Your Benefits

Watch the medicare benefits webinar recorded on September 22, 2020. “Options to Help Maximize Your Benefits” features Christopher Musuneggi, CFS, RFC of The Musuneggi Financial Group. He covers key concepts including:

  • Social Security essentials
  • When to collect early… and when it may be best to wait
  • What provisional income means
  • How to navigate spousal, survivor, and former spousal benefits.

You can also watch the webinar on YouTube.


 

Contact us with your questions about Social Security or to have your situation reviewed.  

Medicare Benefits Webinar

Watch the medicare benefits webinar recorded on September 15, 2020. “The Basics of Medicare” features Connie Hasler and Mike Lauro of Health Benefit Options. They cover key topics regarding choices available with Medicare including:

  • What Medicare is and how to enroll
  • Parts of Medicare… breaking through the confusion
  • Do you have options within Medicare? Yes!
  • Medicare Supplement choices

You can also view the Medicare Benefits Webinar on YouTube.

Contact us with your questions about Medicare or to have your situation reviewed.  

A Guide To Investing in an Election Year: How to Survive the Uncertainty and Invest with Confidence

To get some perspective on what could or would happen in the upcoming election, click on the link below to see an excellent report by our friends at the Capital Group.

 

 


Will Political Changes Affect the Economy?

Provided by Mary Grace Musuneggi

With all of the storm and stress of the year 2020, you’d be forgiven if you momentarily forgot that we’re due for another national election in November. Many states will be selecting governors, representatives, and senators, while the country itself will be voting in the presidential election.

Even though these elections happen every four years, they often breed uncertainty or anxiety about the financial markets and other investment matters. Some of our personal political beliefs may be informed by our economic worldview. For that reason, it’s natural that presidential elections are seen as potential turning points for the economy.

It’s important to keep in mind that while the White House has enormous influence on economic policy, ambitious policies frequently find challenges in the legislative and judicial branches.

It’s also important to keep in mind that in the wake of COVID-19 there are other factors that can influence the financial markets.1

Also know that we are here to help you create a strategy, one that may run through several presidents and many sessions of Congress. Naturally, you may have questions about how these policies might affect things in the short term, and we look forward to a chance to discuss these with you.

To set a time to talk, please go to our online calendars or give Olivia a call at 412-341-2888 x0

And don’t forget that the most important thing you can do in an election year is Vote.

Mary Grace may be reached at 412-341-2888 or marygrace@mfgplanners.com


This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.


Citations

1. NYTimes.com, July 29, 2020

So the money keeps rolling in. Or not…

Preparing for the second half of Year 2020

By Mary Grace Musuneggi

“When the money keeps rolling in you don’t ask how”
                        – ”Evita” by Andrew Lloyd Webber


History teaches us that what goes up goes down.  What goes down goes up.  And when it comes to the stock market there are these two obvious truths.  It goes up.  In 1920 the Dow Jones Average hovered around 66.  Yes, that is the number:  66.  Today it has been hovering around 26,000.  Yes, that is 66 then to 26,000 now.  So, it goes up.

But to get to that “up” it has gone up and down and up and down and up and down over time.

For those who have held during downtimes, to wait for the uptimes, rewards await.  But for those who do not or cannot wait for the downs to go up, it is a scary and strange time.  Causing some to abandon their long-term strategies and jump out of the market.

Many financial planners compare this to a ride on a train.  When you ride over the hills and into the valleys, if you jump off, you end the trip abruptly and maybe dangerously.  You have not gone forward to the end of the trip.  Reminding clients to not jump off the train.

But more importantly, our belief is that for the short term, you may not want to be on the train at all.  But over the longer term years, you may want to take the ride on the train.

The most important thing is to have realistic expectations as to what your money can do for you.

Short term goals should be funded by short term investment.  Long term goals by long term investments.  Pretty simple stuff.  We call this “bucketing”.  No guarantees but a great strategy for dealing with short and long term events in the economy, the world, the markets and most importantly your own personal financial world.

To discuss your situation, contact us to schedule a call.

A Ray of Hope

Let’s share a ray of hope this summer in the midst of pandemic and pandemonium.

As the year 2020 continues to be an anomaly, we all look for a way to get back to normal, whatever that was or will be. But summer has always been a time for enjoying family, outings, vacations, the outdoors, and creative activities. Although you may not be able to take that long-awaited, once-in-a-lifetime vacation to Europe or hold the annual family reunion in Hilton Head, we have been hearing from clients and friends how they have found wonderful ways of doing great staycations and fun family outings.

At The Musuneggi Financial Group we would enjoy hearing what you have been doing! What are your plans?  How have you made the best of the pandemonium around you? Will you allow us to share your fun ideas with others?

Send us your photos (we love to see the kids and pets involved!) or your summer fun ideas, by way of email; or join us on our Facebook page to share in the fun.

We hope you and yours are well.  We hope that you remain safe and most importantly hopeful knowing that “this too shall pass”; And in the meantime, that you will delight in the good things around us.

Nine Steps to Raising Money-Smart Kids

Provided by MFS

Our friends at MFS have created the Nine Steps to Raising Money-Smart Kids as a guide to help teach children early and often about financial responsibility. According to their advice, there are many ways to teach your children good money sense, but experience is the best teacher and having your child learn by doing is key.

Click the image to download the Nine Steps to Raising Money-Smart Kids PDF

Caregiving Resource Guide

Provided by Nationwide

You or someone you know may spend a lot of time taking care of a loved one. A Nationwide consumer survey found that older adults who are or were caregivers spent an average of 21 hours a week as a caregiver.  And those with fewer financial resources are more likely to spend 101 to 150 hours a week as a caregiver.1

Because of this, Nationwide created the Caregiving Resource Guide to help understand the challenges that can come with caring for a friend or family member.

Click the image to download the Nationwide Caregiving Resource Guide PDF


1 – “The Nationwide Retirement Institute Long-Term Care Costs in Retirement Consumer Survey,” conducted by The Harris Poll on behalf of Nationwide Retirement Institute. This online survey was conducted March 25 through Apr. 10, 2019, among 1,462 U.S. adults, age 50 or older, with investable assets of $50,000 or more and 516 U.S. adults age 50 or over who are caregivers.

Important Things to Do for the Second Half of a Very Unusual Year

By Mary Grace Musuneggi

calendar future financial situationSo far for the year 2020 we have been given so many challenges; but at the same time some opportunities.  Although many of us have been taken away from jobs, friends and family, dining out, activities, events and sports; for some we have been given the gift of time while we are under lockdown, quarantine, or what I like to call “house arrest”.

But this has allowed us to clean out closets, redecorate, read those books we never get to read, volunteer for local causes for those not as fortunate as us, and  be grateful for what we have that we often forget or take for granted, in the rush of the everyday.

It is a good time to take the time to ask yourself about your current and future financial situation:

Are you on track for your financial goals?

Are your estate planning documents up to date?

Does our firm, or any financial firm you deal with, have a copy of your Financial Power of Attorney? Do you have a separate and specific Financial Power of Attorney?

Do you have copies of your beneficiary arrangements?

Have you inadvertently taken on more risk as the markets have changed the value of your holdings?

With the changes in the economy, should your asset allocation be adjusted?

Have you had any life changes that warrant changes to your financial plans?

Will changes to your tax situation impact your income planning?

Are you prepared for changes in the economy due to Covin-19?

Do your business strategies need to refocus?

Have there been changes to your job status or benefits?

Should I halt my required minimum distribution this year, following the CARES Act RMD waiver for 2020?

If you are looking for the answers and we can help in any way, give us a call at 412-341-2888 or send us an email.

No matter what the state of the world, in our world, you are our most important priority!

A Financial Power of Attorney is a Must… And Here’s Why

financial reviewBy Mary Grace Musuneggi

If you have accounts that are titled in your name only, you need to have a Financial Power of Attorney who can act on these accounts, if you are unable to do so.  The solution may not be to add someone else’s name to the account.  This could cause a gifting issue or other serious problems.  Many married couples believe that because all of their accounts are held jointly, they do not need a Power of Attorney.

But IRA’s are owned individually; and if you are disabled, your spouse cannot automatically act on your behalf for these accounts.  And if you are the person who normally handles an account for another, such as a parent or even an adult child, there may be times that you need to act on their behalf when they are not here to sign or give consent.  A Power of Attorney can help resolve this issue, too.  And with privacy laws, our firm is not permitted to give a child, a sibling, or even a spouse, information on another individual’s account, without written permission.

We are, therefore, requiring that all of our clients provide us with a copy of their Power of Attorney, or we will provide you with an “Authorization to Provide Information” form.  Please fax (412-341-0725) or mail this to our office or bring it to your next appointment.  If you are not prepared to do a complete Estate Plan, we do have attorneys on our team who will prepare a Financial Power of Attorney as a standalone document.

As financial consultants, we feel it is part of our responsibility to help our clients survive any unexpected life situations that may arise.  When you are in need of our help, we want to be in a position to help.  This is one way we hope to accomplish this goal.

2020 Five Star Wealth Manager Award Recipient

Christine Pikutis-Musuneggi, CRPC®, CLTC, LACP is featured in the July 2020 Pittsburgh Magazine as a Five Star Wealth Manager. ​This is Christine’s sixth straight year earning the honor!

The Five Star Wealth Manager has recognized in the pages of Pittsburgh Magazine an outstanding group of Pittsburgh-area wealth managers. Five Star Wealth Managers are named using an in-depth research methodology that includes ten objective criteria.

Congratulations to Christine Pikutis-Musuneggi in recognition of six years (and more) of excellence and commitment to clients! Read Christine’s full bio here

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