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As we begin the second half of 2024, we offer the following perspective from Mark Zabicki, CFA and Chief Investment Officer at LPL Financial: |
LPL Research recently unveiledMidyear Outlook 2024: Still Waiting for the Turn, our semi-annual report which recaps where markets and the economy have been over the first half of 2024. We are excited to bring you a few of the key highlights today.
As we reach the halfway point of 2024, a sense of persistence defines the economic and market landscape. Trends from late 2023 have continued, with surprisingly resilient economic growth mixed with stubborn but decelerating inflation. The stock market thrived in this better-than-expected environment, having regained all the lost ground from 2022, while the bond market continues to grapple with policy uncertainty and remains largely range-bound.
While it’s tempting to forecast a continuation of these trends, our analysis suggests an impending shift. The economy looks poised to cool down in the second half, while volatility is likely to rise – changes that will impact interest rates and markets.
In this environment, we are suggesting investors prioritize bonds and remain disciplined when it comes to stocks, as the ride in the second half of 2024 could be bumpier. In our view, steps should be taken to bolster portfolios against a market that may be a bit less friendly in the latter months of the year. By prioritizing income generation and remaining patient and disciplined with stocks, we believe investors can successfully navigate the upcoming potential uncertainty.
These are just some of the insights you’ll find in Midyear Outlook 2024. To get more, including considerations and potential action steps to discuss with your financial professional, visitgo.lpl.com/investormidyearoutlook. The insights provided, combined with guidance from a financial professional, will help you navigate upcoming turning points and continue to work toward achieving your goals.
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- With an Account View login, you have access to many self-service features that can help save you time:
- Authorized user access
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Securely deposit checks digitally to non-retirement accounts held at LPL Financial through the Account View Mobile App. - Transfer Money via ACH deposits
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Vacation Home Rentals
If you receive money for the use of your primary residence, you may have to report this rental income on your tax return; this means that the “vacation home rental” classification can apply to your home, even if you don’t own multiple short-term rental properties. The rental expense deduction is limited in the case of a property used as a home; the rental expenses can’t be more than the rent received. The rental income may not require reporting if you rent the house to your tenant for fewer than 15 days during the year. A vacation home is a house, apartment, condominium, or other dwelling that you use to generate income, but you can also use it as a residence during the year. For tax purposes, it’s critical to divide the expenses of a property into personal and business purposes. To report rental income and rental expenses, use Schedule E. In addition, rental income may be subject to a net investment income tax.
*This tax tip is for informational purposes only and is not a replacement for real-life advice. Consult your tax, legal, and accounting professionals for more specific information. Tip adapted from IRS.gov |
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Keep Track of Your Digital Footprint
When you regularly monitor your accounts, you can ensure you catch suspicious activity. Can you recall everywhere you have online accounts and what information is stored on them, like credit card numbers for easier payments? It’s important to keep track of your digital footprint (including social media!), delete accounts you’re not using, and ensure you set strong passwords (that you change regularly)! |
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At a stop sign on a rural road, there are two trucks in front of a truck, two trucks behind a truck, and one truck in the middle of two trucks. How many trucks are there in total?
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Last Month's Riddle:I protect you. I sit on a bridge. You can see through me. People walking by might wonder what I hide. What am I?
Answer:Sunglasses
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