Social Security, Open Enrollment, and the Stock Market – Paul Fain, Knoxville Certified Financial Planner and President of Asset Planning Corporation, has a grab bag of current events and news affecting your finances this week on WBIR’s Sunday Money.
WHAT IS MAKING HEADLINES RIGHT NOW?
Social Security announced a Cost Of Living Adjustment:
- 1.6% benefit increase
- Effective January 1, 2020
- Down from 2.8% in 2019
- Ex: $1460/month + $23
THIS IS ALSO INSURANCE ENROLLMENT TIME RIGHT?
- Medicare Open Enrollment: Oct. 15 through Dec. 7 is the window to make changes to your plan
- Plan Finder tool on Medicare.gov
- Company benefits also have Open Enrollment
- Review your needs and available options
- Typically locked-in for one year
- Some exceptions
- Circumstances may have changed – what was working for you last year may not work as well for you this year so some adjustments may need to be made
OF COURSE A LOT OF INVESTORS ARE WORRIED ABOUT IMPEACHMENT PROCEEDING…
- Daily Drama
- Americans on edge
- Don’t let politics wreak havoc on your portfolio/investment decisions
- Factors that govern the stock market:
- Company/business profitability
- Interest rates
- Investor confidence & expectations
- Global markets
FAST MARKET FACT: Impeachments in 1974 and 1998
Impeachment and the Stock Market
Watergate:
Nixon 1974 -1.77%
Whitewater/Lewinsky:
Clinton 1998 +1.25%
QUESTION FOR OUR MONEYMAN?
Want to learn more about social security, open enrollment, the stock market, or investments? Do you have other general questions about financial planning, investing, or retirement planning? Send your questions to our Knoxville Certified financial planner Paul Fain or directly to Paul@assetplanningcorp.com!
