On May 1st, the United States Treasury announced the Series I Savings Bond rate reset will be 4.30% for the next six months. The new rate is considerably lower than the preceding rate. For those that have already purchased the maximum for this calendar year, you will have a chance to seize the new rate [...]
And then there are those headlines, warning us that the Social Security trust fund is set to run dry around 2034. Does this mean you should grab what you can, as soon as you’re able? Let’s explain why we agree with Social Security specialist Mary Beth Franklin, who suggests the following: “While there may be [...]
Note: Implementation for each SECURE 2.0 provision varies from being effective immediately, to ramping up in future years. A few even apply retroactively. Many of its newest programs won’t effectively roll out until 2024 or later, giving us time to plan. Consult with a tax advisor or estate attorney before implementing any of the below. [...]
The IRS announced new contribution limits for retirement savings for 2023. Individuals can contribute $22,500 into 401(k) plans in 2023, up from $20,500. For employees 50 and older, the catch-up contribution amount increases to $7,500 from $6,500. IRA contributions are increased to $6,500 with catch-up contributions of $1,000.
On November 1st, the United States Treasury announced the Series I Savings Bond rate reset will be 6.89% for the next six months. The new rate is considerably lower than the preceding rate of 9.62% but is still the third highest rate ever offered on Series I Savings Bonds. For those that have already purchased [...]
After a 5.9% cost of living adjustment to 2022, the social security administration announced the cost of living adjustment for 2023 of 8.7%. This is welcome news coming off of the September 2022 CPI reading of 8.2% year over year. This is the largest increase to social security benefits since 1981.
What are your investments really costing you? If you’re not sure, you’re not alone. It’s not like you’re handed a menu of charges to choose from when it’s time to place your order. Even when you know where to look for investment costs, the information can be difficult to digest. Let’s fill in some of [...]
Not unlike that fine painting, your best tax-planning efforts include meticulous attention to the details, as well as to how each action contributes to your big picture. We view effective tax planning as a way to reduce your lifetime tax bill—or beyond, if you’re preparing for a tax-efficient wealth transfer to your heirs. Leading with [...]
Whether you’re saving, investing, spending, bequeathing, or receiving wealth, there’s scarcely a move you can make without considering how taxes might influence the outcome. But how do we plan when we cannot know? The particulars may evolve, but it seems there are always an array of tax breaks to encourage us to save toward our [...]
Have you been reading the daily headlines—watching markets stall, recover, and dip once again? If so, you may be wondering whether there’s anything you can do to avoid the motion sickness. If you already have a well-structured, globally diversified portfolio tailored for your goals and risk tolerances, our answer remains the same as ever: Your [...]