This year, Thanksgiving Day will be celebrated on Thursday, November 24, 2022, and many families will gather and enjoy the “traditional” Thanksgiving meal of turkey, bread stuffing, potatoes, cranberries, and pumpkin pie. Though, calling the day and the trappings associated with it “traditional” is a bit of a stretch.
It is widely accepted that Thanksgiving is modeled on a 3-day harvest feast that took place in 1621 and was attended by 50 or so newly arrived Pilgrims (half their original numbers having been lost to the recent brutal winter they were ill-prepared for) and 90 or so members of the Wampanoag tribe.
However, the observance of the day did not become an annual affair for another 240 years, and the menu for that original celebration did not include Turkey (or potatoes, stuffing, or any baked goods). Instead, historians believe the meal consisted of geese, ducks, venison, fish, eels, shellfish, stews, vegetables, and beer.
To extend the holiday shopping season and help struggling businesses recovering from the Depression, President Franklin D. Roosevelt sought to move the date back a week, but a joint resolution of Congress in 1941 officially designated the fourth Thursday in November (which is not always the last Thursday) as Thanksgiving Day.
It has been a challenging year for market participants, and we are certainly ready for investment performance to be thankful for. October may be a turning point in that regard. Data pointing to cooling inflationary pressures have moderated fears of ongoing aggressive action by the Fed, and markets have somewhat rallied. The S&P 500 rebounded, climbing 8.10% for the month while down -17.70% year-to-date.
Thanksgiving was born out of trying times (a harsh winter, a civil war, a depression), but change is a constant, and it has become a cornerstone holiday for families to be together and celebrate. Rough times (and markets) don’t last forever. We trudge through them to arrive on the other side when there are again reasons (and returns) for which to be thankful.
Articles of Interest
This has been a challenging year for investors. On top of the equity bear market, the steep losses in bonds have been especially surprising, leading some investors to question whether the classic 60/40 portfolio is dead.
When the market gets bumpy, you may feel inclined to act quickly to protect yourself and your finances. But hasty decisions could cost you in the long term. While there is no tried-and-true advice that will protect you during every market phase, there are steps you can take to cover your bases and try to come out on top regardless of whether it’s a bear market or a bull market.
Inflation is proving to be a stubborn, unwanted houseguest. No one particularly likes paying more for food, fuel and other living costs. These moves could help.
The Internal Revenue Service recently announced its inflation adjustments to the standard deduction and federal income tax brackets for 2023. Knowing these numbers can allow you to make some smart tax-planning moves before the year’s end.
A detailed guide to preparing the perfect roast turkey, starting with which turkey to buy and ending with the best way to store leftovers.
Advisory services offered through KCPAG Financial Advisors LLC and insurance services offered through KCPAG Insurance Services LLC, subsidiaries of Kemper Capital Management LLC. Tax services offered through Kemper CPA Group LLP.
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