Markets took a breather from the summer rally as major indices pulled back in August.

Stocks continued to have fun in the sun as markets extended their summer rally.

Broadly positive sentiment throughout the month helped major US indices climb higher. Small-cap stocks led the way for the second straight month with the Russell 2000 soaring 6.06%. Powered by stronger-than-expected earnings and improving economic data, the Nasdaq, Dow Jones Industrial Average, and S&P 500 posted gains of 4.05%, 3.41%, and 3.30% respectively. The Dow even decided to party like it was 1987, logging its longest winning streak in decades with 13 consecutive positive days.

Coming off one of the worst years in recent history, it’s no question 2023 has been a better year for the markets so far than 2022. Overall, we’ve seen a positive skew among most asset classes, compared to mostly negative data last year. However, as is often the case, not everything is up equally. But it may come as a surprise as to the significant discrepancy between the leaders and laggards this year, a situation that can make being a smart, well-diversified investor frustrating in the short-term.

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.

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.

Are you taking stock of your life and thinking about moving on?

(You're not alone.)

With Fall officially arriving, we are reminded once again that we are closer to the end of the year than we are to the beginning. Along with that comes the holiday season, family time, and last-minute shopping. And while we may not be able to assist with the cooking, cleaning, and shopping that’s just around the corner, we want to help in the best way we know how—making sure your end of year financial checklist is complete!

How often do you think about retirement?

Most of us think about it a lot — at least four times a week.¹

You've spent years planning for retirement. But now you're wondering if your retirement dollars will last through the ups and downs of the stock market.