RESOURCE LIBRARY

The IRS has released the 2025 retirement plan limits, and as always, change is a constant in retirement planning. Staying on top of these updates is essential to make the most of your retirement savings.

One of the most important decisions you'll make as you approach retirement is when to start collecting Social Security benefits. While you can begin as early as age 62, waiting until a later age to claim your benefits can provide significant financial advantages.

As markets go up and as markets go down, your retirement savings likely needs to be adjusted i.e. rebalanced, for the changing times. Recently we have experience a nearly 45% rally in stocks over the last 18 months (S&P 500 12/31/22-6/30/24), if you have not rebalanced your 401k, you are likely overweight stocks to your intended allocation and may be unintentionally risking more of your hard earned savings that intended.

This month's newsletter explores a unique perspective on Social Security income payments—viewing them as an investment portfolio paying a steady 5% interest. Understanding this concept can help you make informed decisions about your retirement planning and financial security.

Whether you own your own business or are a hardworking individual, the endless sea of potential tax-saving strategies can be overwhelming. Paralysis by analysis sets in. Let's face it, managing a business or career, tending to family needs, and attempting to get a good night's sleep already fill your plate. Staying on top of ever changing tax regulations and how to realistically save for your retirement goals may feel like an unattainable and distant dream, but here is a simple guide to make it a reality.

Social Security payments receive an inflation adjustment every year based on the Consumer Price Index (CPI). If inflation continues at current levels over the next 2 months, Social Security recipients will see their monthly check amounts increase by about 9.6% in 2023.