The new year is right around the corner and it is a great time to start looking ahead. What can you do to get the new year off to a good start? Looking at your savings, spending, charitable intentions and retirement plans are a good place to start. Today we offer some key tips to be better with money in 2023.
Merry Christmas and Happy New Year from the Commonwealth Family.
Over the past year, we have seen significant decreases in both the stock and bond market. One of the big culprits is inflation. A significant spike in the prices of the things we buy every day prompted a big increase in interest rates. The rising rates have created poor returns for bonds. While we can't "undo" the damage, there is a reason to be optimistic. Today we discuss the silver lining of higher interest rates.
Our Marietta team had a guest appearance on local radio Monday, December 12th. They joined morning host, Brett Wharff to discuss the big changes in that office and introduced listeners to the newest member of our team Evan Brockmeier. They also discussed the importance of financial planning to help improve your future.
It is hard to believe it is already December. We are all ready to put 2022 behind us. It is time to look ahead to next year. We are all hoping for better things. But there is one major concern on our minds. What if stocks go down again in 2023? We look at the potential impact of back-to-back down years of negative investment returns.
It's hard to believe 2022 is almost over. As we approach the final few weeks, it is time to look at some year-end tax savings strategies. We will also talk about a strategy to help you reduce future taxes as well.
Inflation impacts all of us, mostly in an unpleasant way. We have all seen the higher prices at the pump and in the grocery store. But the news isn't all bad. Higher inflation also means other things adjust as well. Those include tax provisions, retirement plan contribution limits, and Social Security. These are the key changes for 2023.
One of the biggest retirement questions we hear from clients is about income taxes. It is one of the biggest expenses you will face in retirement. Income taxes can be confusing and intimidating and you need to have a plan. In this episode of our Retirement Planning Essentials, we talk about how to start planning for income taxes in retirement.
This year has been very difficult for investors. A bear market has plagued both the stock and bond markets. The dark clouds of pessimism dominate the media. But things will change. Better times are ahead, and it is nearing time to shake the doldrums. Are you ready for the next bull market?