A recent study found that “33 percent of people don’t think they would qualify for life insurance.” We hope you aren’t shying away from discussing the topic of life insurance because you think the same way! Purchasing this type of insurance is a big deal, but most likely necessary to make sure your family has the funds to cover their immediate and long term needs if something happens to you. We can help you determine if you’re eligible for life insurance, and educate you on the different types that exist. Reach out to us! Learn more by reading this article
With the due date for filing tax returns fast approaching, you may be getting ready to make your 2021 contribution to your IRA or other qualified account. While you are at it, why not make your 2022 contribution at the same time? That would allow your money to work for you for an extra 12 months! We have several options for contribution types that you may not be aware of and may offer you greater income streams than previous ones. Reach out to us to learn more.
With so much going on around us in the market, it is difficult for many of our clients to take the time to hit pause and think about the impact of taxes on their retirement savings. We thought we would make it easier for you by sharing an up-to-date 2022 Tax Reference Guide. You can use this for a quick glance at important tax filing information for the 2021 and 2022 tax year. This information may also bring to mind questions you have for 2022 planning. If you would like to discuss what changes in your retirement savings should occur
Last week many people heard about the Kentucky Teachers’ Retirement System losing more than $3 million when it sold off its direct investments in a Russian Bank. (read more here) However, they aren’t the only pension funds in possible trouble. Many state pension funds have Russian financial holdings. “Pensions in the U.S. and around the world hold Russian stocks in their international equities portfolios, with the holdings making up perhaps 1% of total pension assets.” According to the Wall Street Journal. The article goes on to state “Retirement systems divesting from Russia can expect to sell at a significant loss,
With news reports saying the markets are nearing “bear market territory,” people are starting to ask us what that actually means. Let’s start with definitions: “A bear market is when a market experiences prolonged price declines. It typically describes a condition in which securities prices fall 20% or more.” “Bear markets also may accompany general economic downturns such as a recession.” How does that affect you? It depends on where your savings are. If you have invested directly in the stock market, you are at risk for this type of decline in the value of your portfolio. On the other