2022 Contribution Limits

Posted by Creekmur Wealth Advisors on 8:00 AM on December 28, 2021

Some things you might consider before saying goodbye to 2021.

Preparing for retirement just got a little more financial wiggle room. In November, the Internal Revenue Service (IRS) announced new contribution limits for 2022.

Staying put for 2022 are traditional Individual Retirement Accounts (IRAs), with the limit remaining at $6,000. The catch-up contribution for traditional IRAs remains $1,000 as well.1

For workplace retirement accounts (i.e. 401(k), 403(b), amongst others), the contribution limit rises $1,000 to $20,500. Catch-up contributions remain at $6,500.1

Eligibility for Roth IRA contributions has increased, as well. These have bumped up to $129,000 to $144,000 for single filers and heads of households, and $204,000 to $214,000 for those filing jointly as married couples.1

Another increase was for SIMPLE IRA Plans (SIMPLE is an acronym for Savings Incentive Match Plan for Employees), which increases from $13,500 to $14,000.1

If these increases apply to your retirement strategy, a financial professional may be able to help make some adjustments to your contributions.

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Topics: Uncategorized, Financial Planning, Investing, Planning, Retirement

End-of-the-Year Money Moves 2021

Posted by Creekmur Wealth Advisors on 10:44 AM on November 17, 2021

Some things you might consider before saying goodbye to 2021

What has changed for you in 2021? For some, this year has been as complicated as learning a new dance. Did you start a new job or leave a job behind? That’s one step. Did you retire? There’s another step. If notable changes occurred in your personal or professional life, then you may want to review your finances before this year ends and 2022 begins. Proving that you have all the right moves in 2021 might put you in a better position to tango with 2022.

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Topics: Uncategorized, Financial Planning, Investing, Planning, Retirement

Frothy, Bubbly Stocks

Posted by Drew Creekmur, MSPFP on 5:01 PM on September 8, 2020

Frothy, Bubbly, Foamy. . . and we're not talking about cappuccino!

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Topics: Financial Planning, Investments, market volatility, Planning, Stock Market

Is it Time to Buy? Thoughts on Investing in a Market Like This

Posted by Drew Creekmur, MSPFP on 9:00 AM on August 4, 2020

Markets are going CRAZY - should I invest?

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Topics: Financial Planning, Investments, Planning, saving and investing

Too Much Noise in the News?

Posted by Drew Creekmur, MSPFP on 1:55 PM on July 28, 2020

Cut through the noise with our Financial News Breakdown

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Topics: Financial Planning, Investments, Planning, saving and investing

What is Social Media saying about the companies we're watching now?

Posted by Drew Creekmur, MSPFP on 3:38 PM on July 21, 2020

Social Media - Whether you hate it or use it daily - it can tell us a lot about the companies we are watching now.

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Topics: Financial Planning, Investments, Planning, saving and investing

Upcoming News Driving Markets

Posted by Drew Creekmur, MSPFP on 1:49 PM on July 14, 2020

Critical Topics

Financial & Economic Items We're Tracking Now!

 

Of course, no single investor ever knows with absolute certainty where markets and the economy are heading, but learning how to analyze various information points is critical to long-term success as an investor. In this week’s flash briefing we will dive into the top four items we are tracking in an effort to further provide clarity to where markets and the economy may be heading.

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Topics: Financial Planning, Investments, Planning, saving and investing

Weekly Flash Briefing 07/07/2020

Posted by Drew Creekmur, MSPFP on 11:07 AM on July 7, 2020

3 Lessons Learned from a Crazy Year!

As I was watching fireworks over the weekend, I got to thinking about how much we have already experienced so far in 2020. The list of events is truly incredibly to review, in part because many of these events would have been massive in any random year and I had almost forgot that some of these things had even happened (here is a complete list of the items that occurred through just April!):

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Topics: Financial Planning, Investments, long term objectives, Planning, Retirement, saving and investing, Lessons Learned

Weekly Flash Briefing 06/30/2020

Posted by Drew Creekmur, MSPFP on 4:25 PM on June 30, 2020

How to Navigate your Employer Sponsored Retirement plan

"My employer provides a Retirement Plan (401(k), 403(b), 457, SIMPLE IRA, etc.), but I don't understand it at all!"

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Topics: 401k, 403(b), Financial Planning, Investments, long term objectives, Planning, Retirement, Roth 401k vs 401k, saving and investing

Weekly Flash Briefing 06/09/2020

Posted by Drew Creekmur, MSPFP on 3:01 PM on June 9, 2020

Inside scoop

Does Investor Behavior Impact the Stock Market?

Earning and then saving enough funds to invest is the first & most difficult step to growing wealth & achieving your financial goals. But, after investing your hard-earned money, it is crucial to  continue learning how your actions and emotions effect your potential returns. Over the years of working with individual investors we have found that emotions and biases can cloud one’s ability to make well-balanced investment decisions. In recent months we have seen the impact of emotion driven decisions, rather than thoughtful, goals-based decisions. With that in mind here are two "rules" that we would encourage you to follow with your investment decisions.

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Topics: Why is my portfolio not performing?, Financial Planning, Investments, long term objectives, Planning, saving and investing, Stock Market

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