On It with Offit - October 2022

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OCT | 2022 Update on the Markets In this video, Ben explains how even in a down market, disciplined investing is proven to pay off in the long-run. Ben Offit Named Top 100 People In Finance by The Top 100 Magazine Connecting money with purpose is a key motivator for Certified Financial Planner® Ben Offit. Named to 'Fortune' magazine’s list of 'Top Wealth Managers Under 40,' Ben has been a '5 Star Wealth Manager' since 2017. He’s also been recognized as one of 'Baltimore' magazine’s 'Leaders in Finance.' As principal of Offit Advisors, Ben works with clients on financial planning, investment management, tax planning, and insurance planning. Read More Join Offit Advisors & Assetmark for an Exclusive 3rd Quarter Market Review Webinar Join us for this exclusive webinar on Investing in Uncertain times, where you’ll gain insights about the current state of the economy and will have an opportunity to ask questions at the end. They will also review recent Fed actions, inflation, and the possibility of recession, as well as the investment implications for stocks and bonds. Register Now Student Loan Forgiveness Update The $10K loan forgiveness application is available. Anyone needing this needs to do so by the end of the year. Click the link below to complete the application.   Note: Some states are saying this will be taxed as income at the state level, but not federal taxation, so just be mindful of that. View Application - 401(k) plans hold a whopping $7.7 trillion in retirement savings. CNBC, October 6, 2022 - The new DNA sequencing machine made by Illumina, which costs roughly $1 million, can now sequence a human genome for less than $240. That work used to cost $100 million just 21 years ago. Axios, October 2, 2022   - We’ve seen a significant drawdown in the US Strategic Petroleum Reserve, which has moved down to its lowest level since 1984. Forbes, September 7, 2022 Belarus’s President Alexander Lukashenko has come up with a foolproof way to curb rampant inflation: banning inflation. His prohibition on all consumer price increases took immediate effect last Thursday. It's not the first time the Putin ally has made a radical proposal: He also suggested a shot of vodka a day to keep Covid at bay. Reuters, October 6, 2022   When asked what he was going to do with his signing bonus, baseball great Tug McGraw said, "I'll spend ninety percent on good times, women, and Irish Whiskey. The other ten percent - I'll probably waste." Baseball Almanac - “If you want a happy ending, that depends, of course, on where you stop your story.” Orson Welles S&P 500 Index is an unmanaged group of securities considered to be representative of the stock market in general. You cannot directly invest in the index. Dow Jones Industrial Average - The Dow Jones Industrial Average is a popular indicator of the stock market based on the average closing prices of 30 active U.S. stocks representative of the overall economy.  NASDAQ Composite Index measures all NASDAQ domestic and international based common type stocks listed on The NASDAQ Stock Market. Today the NASDAQ Composite includes approximately 5,000 stocks, more than most other stock market indices. Because it is so broad-based, the Composite is one of the most widely followed and quoted major market indices. Russell 2000® Index measures the performance of the 2,000 smallest companies in the Russell 3000 Index, which represents approximately 8% of the total market capitalization of the Russell 3000 Index which includes the 3,000 largest companies in the U.S., based on market capitalization. As of the latest reconstitution, the average market capitalization was approximately $762.8 million; the median market capitalization was approximately $613.5 million. The largest company in the index had an approximate market capitalization of $2.0 billion and a smallest of 218.4 million.  Russell 1000® Growth Index measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values.  Russell 1000® Value Index measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values.  Government bonds are guaranteed by the U. S. Government and, if held to maturity, offer a fixed rate of return and fixed principal value. Securities offered through Kestra Investment Services, LLC (Kestra IS), Member FINRA/SIPC. Investment Advisory Services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Offit Advisors is not affiliated with Kestra IS or Kestra AS. Offit Advisory Services, LLC is a tax firm but neither Kestra IS nor Kestra AS provide legal or tax advice and are not Certified Public Accounting firms.For more information on the Five Star Wealth Manager and the research/selection methodology go to: www.fivestarprofessional.com. Investor Disclosures: https://bit.ly/KF-Disclosures 6990 Columbia Gateway Drive Suite 150 Columbia, MD 21046, US Phone + Fax:  410 600 PLAN (7526) E – Office@OffitAdvisors.com W- www.OffitAdvisors.com   To schedule an appointment with us, click here! The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra IS or Kestra AS. The material is for informational purposes only. It represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. It is not guaranteed by Kestra IS or Kestra AS for accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.