Mastering Your Money | November 2023

We all look forward to celebrating Thanksgiving with our families, friends and clients this month.? Last year Americans spent more than $1.1 billion on the festive bird during Thanksgiving.? Not a fan of turkey but love the sides? You aren’t alone—we buy more than 250 million pounds of potatoes and 80 million pounds of cranberries during Thanksgiving week.?

At MDL Wealth Management, we too have our plate full of thanks to give this month.? We’re grateful to our supportive team of colleagues and amazing clients for giving us the chance to continue to creatively assist you in making smarter choices with your money. We appreciate the continued trust and support you give us everyday.

The Key Developments | October 2023 Market Report?

In the MDL Monthly Market Recap for October, it appears inflation continues to cool and the labor market is gradually becoming more balanced.? Additionally, the futures market's projection of less than a 25% likelihood of another rate hike is a promising development, signaling a possible end to the most aggressive tightening cycle in four decades. Continuing with the positive news, the price of Gold rose 6% in October, from $1,870.50 to $1,982.90. READ MORE.

Set Limits | Black Friday Shopping and Cyber Monday

Attention savvy shoppers! As the Black Friday and Cyber Monday frenzy approaches, it's time to rev up your shopping game and spend money. With unbelievable discounts and irresistible deals, it's easy to get caught up in the shopping whirlwind. But before diving headfirst into the spending spree, it's crucial to have a game plan that ensures you make the most of your budget while snagging the best items on your wishlist.

Do you have a strategy for holiday shopping? Does your plan include a holiday account you previously set up specifically to ensure you make the most of your money?? Do you know your boundaries because you have a budget and you stick to it?? At MDL Wealth Management, we are here to help you through this process.

“I am thankful for my health, my friends and family (including my pets), and the trust clients place in me to help guide them to live life on their terms. This time of year brings self-reflection.? Memories of yesterday are still as vivid as ever as I think about my time in beautiful Colorado.? Meanwhile, this year I was blessed to be able to spend? time with family in both San Diego and Wisconsin. I am happy to have found a home here in Florida where I get out to visit places like Epcot and, of course, more of the wonderful beaches.” - Ted Albrecht, MDL Wealth Advisor

Psst, Don’t Forget About Your Flexible Spending Account

As the end of the year approaches, take this as a gentle nudge to review your flexible spending account (FSA) and take advantage of any remaining funds. A flexible spending account allows you to set aside pre-tax dollars for eligible medical expenses, such as copayments, deductibles, and certain over-the-counter items.?

Note: FSA funds don’t roll over into 2024, so any unused balances may be forfeited. Therefore, it is advisable to plan your medical expenses accordingly and utilize your FSA before the year-end deadline. Put a note on your calendar this week to familiarize yourself with your specific plan's guidelines to maximize your benefits.? Did you know that some employers may offer a grace period or carryover option for FSA funds?? To learn more about how MDL Wealth Management can help you with your family's future, READ MORE.

“I am happy about all the blessings this year brought. The love of our extended family, the steadfast support of friends, the strength of faith, the dedication of our team and clients, and the unforgettable travel adventures - it's been an extraordinary year! Visiting Paris was a dream come true. The Cayman Islands offered a serene escape. And let's not forget the breathtaking adventure at Zion National Park.” - Mike LaBarbera, MDL Wealth Advisor

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Thank you for reading our newsletter, packed with terrific information on financial planning.? If you missed October’s Newsletter, READ MORE.?

If you have a topic you’d like to see us cover, please leave us a comment.? Or give us a call or stop by our offices off Dale Mabry in Carrollwood. We’d love to hear from you!