One of the most difficult adjustments for clients as they enter retirement is to flip that switch from receiving a paycheck into their bank account to withdrawing funds from their investment accounts. We have found that many clients have actually worked longer because they just couldn’t reverse this thinking. Investors are savers and for savers …
This time of year, we tend to receive more questions about investments as families prepare their tax returns. Here are some of the recent FAQs we have answered about IRAs: What is the RMD age now? You must begin taking your RMD by April 1st of the year you turn 73 (for those born between …
January Reading List from your WPC Advisors Articles this month range from retirement information as related to the Secure 2.0 Act, lessons for new retirees and millennial investor concerns. We wanted to pass along articles which our advisors found worthwhile from trusted sources. Check back again next month for another reading list… Retiree Articles Todd …
What Your WPC Advisors Are Reading This Month (January) Read More »
This year’s Giving Tuesday is Tuesday, November 29th. Giving Tuesday is a day when many people give to charitable organizations and find ways to give back to their local communities. There are many tools and resources available to assist you with making your decision(s) about where to donate. The IRS Tax Exempt Organization Search is …
The IRS recently came out with its list of inflation related adjustments to tax brackets, standard deductions, phaseout thresholds and 401(k) contribution limits. Here are some important new limits to know. Planning and saving for your retirement has never been more important. If you are older than 50 years of age, pay close attention! If …
What to expect in 2023: Information You Should Know Read More »
As we are in the last quarter of 2022, now is a great time to review and finish up the year stronger financially! Review and maximize annual contributions to Health Savings Accounts, IRA’s, Roth IRA’s and employer sponsored plans: HSA Limits: Single $3,650 Family $7,300 +$1,000 catch-up for those older than age 55 IRA/IRA Roth …
Student Loan Debt Cancellation – What You Need to Know Recently, President Biden extended the student loan payment pause until 12/31/2022 and announced that $10,000 of federal student loans would be cancelled for those making less than $125,000 annually or $250,000 if a married couple. People who also received Pell grants will be able to …
Why is it important to start early in saving for retirement? Here are a few stats to ponder…the Government Accountability Office study (2019) found that nearly 48% of Americans ages 55 and older don’t have any retirement nest egg or traditional pension plan. Transamerica Center for Retirement Studies found in its 20th annual survey that …
Financials 101: 26 Financial Tips for the Next Generation Read More »
