Mission Financial Group LLC

Better everyday! Our 4th annual business off-site retreat was held at The Romer Hotel in Waikiki this year!

🏦WHICH DIRECTION WILL FUTURE TAXES GO? It has been almost 8 years since the "Trump Tax Cuts" were implemented into law, and we think it's important to revisit changes that could be coming if they're not extended. Click on the link for an informative article from CNBC: https://lnkd.in/gXhzZHxD We've also provided a summary of our main takeaways from the article below: If the Tax Cuts and Jobs Act (TCJA) expires at the end of 2025, most people will face higher income taxes as rates revert to pre-2018 levels. The standard deduction will decrease, leading to more taxable income, and filing taxes may become more complex. Retirees and investors will see higher taxes on investment income and estates, further straining their finances. 🔑Key impacts: 💠Higher Income Taxes: Tax rates will increase for most income brackets. 💠Reduced Standard Deduction: The nearly doubled standard deduction will shrink, increasing taxable income for many households. 💠Increased Complexity: Filing taxes may become more complicated as more people might need to itemize deductions. 💠Higher Taxes on Investments and Estates: Taxes on investment income and estates will rise, impacting retirees and investors. 💠Financial Impact on Retirees: Retirees may face higher taxes on their investment income, reducing their disposable income. 💠Overall Financial Strain: Many Americans will pay more in taxes, affecting their financial stability and increasing their cost of living. Please let us know if you have any questions you'd like to discuss.

Determining whether to pay off your mortgage involves considering several factors and is unique to each individual. We recommend: -Evaluating the interest rate on your mortgage compared to potential investment returns elsewhere. If your mortgage interest rate is higher than what you could earn through investments, it might be wise to prioritize paying it off. -Considering your overall financial situation—are you on track with retirement savings and emergency funds? If so, paying off your mortgage early could provide peace of mind and reduce monthly expenses. -Weighing the opportunity cost of tying up funds in home equity versus other investment opportunities. Ultimately, paying off your mortgage should align with your overall financial strategy and peace of mind. We've included a useful guide to aid in helping you decide if it makes sense to pay off your mortgage. Let us know if you have any follow up questions you'd like to discuss.

Social Security has been a fact of retirement since1️⃣9️⃣3️⃣5️⃣. How much do you really know about it❓ Click on the image below to watch a short video highlighting five facts about Social Security that might surprise you📽️. For a further look into the importance of Social Security, included is a helpful article (Read Time: 8 MIN) that goes over some key information we recommend you be aware of📖: https://lnkd.in/ghV9Ub6P https://lnkd.in/gAU7NunX If you have any follow up questions we can assist with, please don't hesitate to let us know.

We had the pleasure of hosting some guests to hear a distinguished keynote speaker, Brian Wesburry, share his views and expertise on our economy. Brian is one of the leading economists in the country, and we've been learning from him for many years because of his remarkable ability to understand and explain market trends.  Here are 3 key points from his presentation: ◼️Money supply benefits are waning: To cope with the economic impact of COVID, the government issued $6T of new money. This was like a temporary morphine for a severely injured patient. The patient might feel better, but his condition has not improved. Likewise, the US economy still faces many challenges and the painkiller effect is fading away. ◼️Inflation will continue to rise: Most of the new money created during COVID has not yet entered the economy but remains in banks. This means that inflation could rise even more as the money starts to circulate. ◼️Stock market overpriced and might reverse downward: Brian’s team has a model that predicts the general direction of the stock market. The model has been accurate in forecasting a strong and rising market for the last 15 years. However, the model now indicates that the market is due for a reversal and a downward trend. Brian's main message was that there are economic storm clouds on the horizon. However, with an understanding of the challenges ahead and careful planning, our goal is to guide our clients through this next cycle successfully. For a video recap of our main takeaways, click on the following link (run time: 8min 23sec): https://lnkd.in/gcxdA2g7 Brian Wesburry, Mission Financial, and IFG are unaffilaited. The market indexes discussed are unmanaged and generally considered representative of their respective markets. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. No investment strategy can guarantee a profit or protect against loss.

What a "blessing" it was at the open house for Mission Financial Group's new Ward Village office at the iconic IBM building here in Honolulu. We had a great group of folks coming and going and it was a fantastic opportunity to connect with the new community. Thank you to all our clients and industry partners who have encouraged us to expand the reach and we now have new opportunities to invite in new partners to the firm. Thank you to Billy Lile for the very personal and thoughtful blessing and prayer to firmly establish this office as a place of service! We are so thankful to our team that put in unbelievable work to get this set up and established in time to launch in addition to doing their very best work ongoing for our clients and community!

With the New Year fast approaching, we'd like to share some helpful information. The IRS has recently released significant tax thresholds, limits, and figures for 2024. Included below is a link to a downloadable PDF that reflects the 2024 numbers. Should you have any questions, please let us know and we'll be happy to assist. Click the link to view "2024 Important Numbers": https://lnkd.in/gb9jw4_v Independent Financial Group (IFG) does not give tax advice. IFG Registered Representatives (RR) do not give tax advice while acting as an RR. These matters should be discussed with your tax professional.

Wishing you & yours a very Merry Christmas from our new office in the IBM building🎄!