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New provisions to the SECURE Act in the December 2022 spending bill will help people save more money now, with some changes not starting until 2024 or 2025. Check out these highlights: The age increase for Required Minimum Distributions helps high-net-worth retirees. Older adults can save extra for retirement with new annual limits in employer […]
Important changes were announced for 2023 that might affect your income tax bracket, standard deductions, contribution limits in your retirement plans, education credits, annual gifts, Social Security, and Medicare. Knowing these numbers now can allow you to make some smart financial planning moves before the year’s end. Give us a call to discuss your options. The higher […]
Are you a saver or a spender? Savers have good news for 2023 with increases to the IRS limits on retirement savings. For a 401(k) plan, the annual limit will be $22,500 for most people (up from $20,500), plus an additional $7,500 for those 50 and older (up from $6,500). For IRAs, the limit increases […]
Now that the holidays are here, your monetary thoughts may center on gift planning, travel, and social events. You should also consider what the IRS’s recent inflation adjustment announcement may mean for your year-end tax planning and funding those holiday expenses. What capital gains to realize now vs. how much income to delay until 2023 […]
Interested in earning 9%+ in a low-risk investment that protects your savings from inflation? If so, then I Bonds may be right for you. Series I Savings Bonds provide an inflation-adjusted yield which is reset every 6 months. They are currently paying 7.12%. The next reset on May 1, 2022 is expected to increase to […]
Cybercrime and fraud are serious threats and constant vigilance is key. While our firm plays an important role in helping protect your assets, you can also take action to protect yourself and help secure your information. This checklist summarizes common cyber fraud tactics, along with tips and best practices. Many suggestions may be things you’re […]
Here’s a quick look at the most important ages in financial planning, whether your retirement is still years away or just around the corner. Celebrate each birthday with the knowledge that we are with you each step of the way. At 21 – An account registered as a Uniform Transfers to Minors Act (UTMA) is […]
Asset Advisors Investment Management is pleased to announce the addition of two new members to our team: Kristen Weston as Client Service Associate and Nichole Kuehl as Operations Associate. With a Bachelor of Arts degree from Brenau Women’s College, Kristen has worked in education and pharmaceutical sales, and most recently at Resource Management of Augusta […]
“Why Your Retirement Account Paperwork Needs To Be Done Right” Bob Carlson writes of two recent examples of the ramifications of not having current paperwork for retirement accounts in this article for Forbes. It is absolutely vital to make sure that these forms are not just filled out appropriately at account inception, but also updated […]