Monthly Archives: August 2024

Triple Tax-Advantaged Account

Planning Article

August 2024 – By Shelley Lein CFP®

One of the most powerful savings tools is a Health Savings Account. An HSA has better tax benefits than both Roth and pretax retirement savings accounts, provided the distributions are used for qualified medical expenses. If you meet the requirement of having a High Deductible Health Plan (HDHP is a health plan with a deductible of at least $1600 for self or $3200 for family in 2024), it can be a tool to not only save on taxes but to provide for medical expense coverage in retirement.

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Economic Dissonance

Market Memo

August 2024 – By Daniel Zalipski CFA®

F. Scott Fitzgerald once stated, “The test of a first-rate intelligence is the ability to hold two opposing ideas in mind at the same time and still retain the ability to function.”  The phenomenon he is describing, simultaneously holding two or more contradictory beliefs, is known as cognitive dissonance.  It is more commonly associated within the field of psychology, but the concept is catching the attention of investors struggling to make sense of an increasingly complex landscape as two dissonant economic reports continue to report contradictory and perplexing results. 

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Employment Check

Market Minute

August 2024 – By Scott Rosenquist CFA®

Employment data for the month of July came in below expectations with 114,000 jobs added while the unemployment rate moved higher to 4.3% from 4.1% in the previous month. This is the fourth month in a row showing a higher unemployment rate although it is coming off a historically low base. The weak report raised questions about the strength of the economy and what it may mean for future monetary policy decisions. It is important to note that monthly economic reports are subject to revision and can be volatile month to month.

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