On December 29, 2022, President Biden signed the Consolidated Appropriations Act of 2023 into law, which included the much-anticipated SECURE Act 2.0 to supplement the original SECURE Act passed in 2019. Below are some key highlights of the newly passed legislation,1 which we feel may be most beneficial to our clients and spur additional conversation about your financial planning strategies. Required Minimum Distribution (RMD) Changes Catch-up Contribution Enhancements and Changes ... [Continue Reading]
Articles and resources related to Financial Planning.
One of the first questions I ask people who are seeking financial advice is, “What are your first money memories?” I ask this because the childhood years are formative when it comes to making money decisions as an adult. In my experience, I have found that people either approach money decisions very similarly or, in contrast, very differently from that of their upbringing; there usually is not a middle ground. As we enter a new year, I encourage you to make a goal of delving further into ... [Continue Reading]
I hope you’ve had the opportunity to view our virtual conversation with author and behavioral finance expert Morgan Housel. If you haven’t, I invite you to experience it here. In his book, The Psychology of Money, Housel explores financial lessons in a collection of 18 short stories to highlight the many ways people think about money. The variety of topics addressed nearly guarantees there will be at least one lesson that resonates with or provokes additional thought with each reader. For me, ... [Continue Reading]
If you have been keeping up with the CCM newsletter lately, you may have noticed a record number of our colleagues have gotten married in the past 18 months, myself included. And if you or a recently married friend or family member are anything like me, you made a financial planning checklist immediately upon returning from the honeymoon. All joking aside, there are many aspects around one’s financial life that can change after marriage, some of which are time sensitive. Below is a checklist ... [Continue Reading]
It’s difficult to ignore inflation: the prices of everyday goods have soared in recent months and many investors are pausing to question large, discretionary purchases. To support individual taxpayers and bolster the U.S. economy, President Biden signed into law the Inflation Reduction Act of 2022.1 Here are some important highlights from which you could benefit. Enhanced Premium Tax Credits First enacted under the American Rescue Plan of 2021, an extension and enhancement of the ... [Continue Reading]