SECURE 2.0 Provides New Retirement Savings Options in 2024
The SECURE 2.0 Act, passed in December 2022, made wide-ranging changes to U.S. tax laws related to retirement savings. While some provisions were effective in 2023, others did not take effect until 2024. Here is an overview of some important changes for this year....
Modern Women’s Financial Wellness in 2024
In the symphony of modern life, women don't just play a part—they compose the melody. As architects of their destinies, women face a myriad of roles and responsibilities, from conquering career summits to nurturing the future, all contributing to Women's Financial Wellness. Yet, in the pursuit...
Remote Work and Retirement
The remote work and retirement trend is influencing retirement choices. The landscape of work has undergone a significant transformation in recent years with the widespread acceptance and adoption of remote work and retirement. Research has found that 23 percent of job holders work from home part-time,...
Transfer of Clean Vehicle Tax Credit to Dealer as Payment for the Vehicle
Federal tax credits may be available to help offset your cost to purchase certain clean vehicles (including electric, plug-in hybrid, and fuel cell vehicles). Starting in 2024, you may be able to elect to transfer the new and previously-owned clean vehicle tax credits to dealers...
Maximizing Your Returns – Top Tax Deduction Strategies for Investors
While each investor's goals may differ, a common desire is to maximize returns while minimizing what you owe to the IRS. The first area where investors can look for tax deductions is in their investment-related expenses. ...
Navigating Inflation in Retirement: Strategies for 2024
As the cost of living continues to rise, many Americans are faced with their buying power diminishing. The U.S. Bureau of Economic Analysis announced in November 2023 that the PCE index was up 3 percent from the year before. The index examines the prices of...
Navigating Inflation in Retirement: Strategies for 2024
Inflation, the silent eroder of purchasing power, has a profound impact on retirees. As the cost of living continues to rise, many Americans are faced with their buying power diminishing. The U.S. Bureau of Economic Analysis announced in November 2023 that the PCE index was...
After a Surprising 2023, a Cautiously Optimistic Economic Outlook for 2024
Despite high interest rates and unsettling geopolitical conflict, the U.S. economy outperformed the expectations of most economists in 2023.1 Inflation-adjusted gross domestic product (Real GDP) accelerated to an annualized rate of 5.2% in the third quarter, after growing 2.1% in Q2 and 2.2% in Q1....
Navigating Market Volatility in Your Retirement
Market volatility is an inevitable part of investing, but it doesn't have to be a source of stress as you near your golden years. By taking a strategic and measured approach, focusing on long-term goals, and seeking professional advice, you can navigate market fluctuations with...
Retirement Timing and Social Security Collection
Later in life, individuals are faced with big decisions that affect their financial well-being and quality of life. Among these decisions, two stand out as major milestones: ...