Hello – this is Ryan McGuire, Senior Consultant with Oak Wealth Advisors providing our December updates.

First, I wanted to touch on recent market events. As many of you may have seen in the news and through accessing your investment accounts, the past few months have seen a nice run for equity and bond markets. These increases have been fueled by better-than-expected economic data, including job growth acceleration, and decreases in core inflation. Corporate profits have also been better than expected. Due to both declines in inflation and healthy economic numbers, there is anticipation that the Federal Reserve may cut rates a few times in 2024. This anticipation has also impacted markets in a positive manner. In the cases of sharp moves like we’ve seen, it’s not necessarily a story of good or bad, it’s usually a story of “better or worse than expectation.” In this case, better than expectation makes for a Happy Holiday season for patient investors.

Second, we wanted to ensure that our clients are aware of two federal programs that provide subsides for internet and phone service to Americans with permanent disabilities. These programs are known as the Lifeline program, and theAffordable Connectivity Program. Eligible households or individuals do have the ability to participate in both programs.

The Lifeline program provides subscribers with a discount of up to $9.25 on qualifying cell phone or landline service. To participate in the Lifeline program you, your child, or your dependent must be enrolled in federal government programs like SNAP, Medicaid, SSI, the Veterans and Survivors Pension Benefit, or certain Tribal Programs, or if the household income is under 135% of the Federal Poverty level.

The Affordable Connectivity Program (ACP) provides up to a $30 per month discount towards internet and mobile data services to eligible households, as well as a single $100 discount for the purchase of equipment, such as laptops, desktop computers, and tablets if the participant contributes between $10 – $50 towards the purchase price. There can only be one monthly service discount and one device discount per household.

The qualification for the Affordable Connectivity Program is similar to that of the LifeLine program. Both applications can be accessed online at getinternet.gov. Please reach out to Randi Gillespie from our team if you have any questions about these valuable programs.

In addition to these items, you can find an update from our founder Mike Walther on Freezing credit access for additional identity security in this months Deep Rooted Thoughts.

Finally, we wanted to remind families of SSI recipients that due to bank holidays, the next SSI payment date is December 29^th. Rather than the beginning of January. We mention this as it’s important to stay aware of the $2,000 asset limit for month-end.

Thanks so much, and a very Merry Christmas to you all.