hello world!
Published: November 7, 2022

What in store for Q4

I've got three small wins for you this week.

When it seems like there's a flood of bad news and everything is unpredictable, I think it's important to highlight the bright spots when we see them.

I'll button things up for you at the end (and share something fascinating to look forward to this month).

Small Win #1: The economy bounced back in Q3

U.S. economic growth made a comeback last quarter – the economy grew 2.6% after shrinking in the first half of 2022. That's good news because it means we not be in a recession (yet).1

But, there are a couple of caveats we should pay attention to:

  1. This data is only a first estimate. It'll be revised twice more before it's final.
  2. A recession is still more likely than not, with an uncertain growth picture for 2023.2

Small Win #2: The Social Security Administration announced the biggest cost-of-living adjustment (COLA) in four decades

Because of this year's red-hot inflation, Social Security beneficiaries will see a COLA of 8.7% in 2023.3

On top of the (tiny) drop in 2023 Medicare Part B premiums, this is good news for the retirees (and low-income kids and families) who have seen inflation take a big bite out of their income.3

However, some folks are concerned about the impact of higher lifetime benefits on Social Security's future solvency.

Small Win #3: The stock market closed out its best month in decades

After weeks of volatility and selling pressure, stocks had a banner month in October, with the Dow marking its best month since 1976 and its best October ever.4

These types of rallies are common in a bear market and are a potent reminder of why selling during a downturn is generally a bad idea.

Is the bear market over? Is the bottom behind us?

There's no way to know for sure, but it's not likely. The Federal Reserve decision to hike interest rates 0.75% is likely to weigh further on markets, though there’s some indication they may consider slowing the pace of hikes in the future.5

So, let's stay flexible and remember that those good and bad market days often cluster.

Bottom line: The overall market and economic picture looks as uncertain and hazy as ever. But there are good weeks (and months) and small wins along the way. Let's take a moment to appreciate them.

So, what are some recent wins (big or small) from your life? Will you share them with me?


P.S. The IRS released higher-than-expected income tax thresholds, deductions, and contribution limits for 2023. The standard deduction increased to $13,850 for individuals and $27,700 for joint filers.6

The amount you can contribute to most workplace retirement plans will be $22,500, while annual contributions to an IRA increased to $6,500 for folks under 50.7

Want to talk about your tax picture before the end of 2022? Hit "comment" below and let me know.

P.P.S. Something fascinating: November has a meteor shower! The Leonids, one of the brightest meteor showers of 2022, will peak November 17-18.8 The Leonids are known for their brightness and persistent tails, so it might be quite the show. Hope for clear skies!


1. https://www.cnn.com/2022/10/27/economy/us-gdp-third-quarter-initial/index.html

2. https://www.marketwatch.com/story/100-probability-of-u-s-recession-in-next-12-months-according-to-new-forecast-11666051473?mod=mw_latestnews

3. https://www.cpapracticeadvisor.com/2022/10/13/social-security-to-increase-8-7-percent-in-2023/71728/

4. https://www.kiplinger.com/investing/in-october-stocks-soared-is-the-bear-market-dead

5. https://www.cnbc.com/2022/11/02/fed-hikes-by-another-three-quarters-of-a-point-taking-rates-to-the-highest-level-since-january-2008.html

6. https://www.cnbc.com/2022/10/19/irs-here-are-the-new-income-tax-brackets-for-2023.html

7. https://www.irs.gov/newsroom/401k-limit-increases-to-22500-for-2023-ira-limit-rises-to-6500

8. https://www.space.com/39469-best-meteor-showers.html#section-leonid-meteor-shower-peaks-november-17-18

Leave a Reply

Your email address will not be published. Required fields are marked *

Free Tools:
Goal Calculator
Begin planning your financial future and start setting goals.
Goals Calculator
Risk Analysis
Quickly find out your risk number and see how you should be investing.
Get Started
Market Report
Stay informed about the market with our weekly and quarterly market reports.
Read Reports
Newsletter Signup
© 2024 Murray Financial Services, LLC. All rights reserved.      
Disclaimer    |    Privacy    |    Terms of Use   |   Form CRS   |   Form ADV Part 2A
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram