Hold onto your hats, folks, because big tax changes are making their grand entrance! Spoiler Alert: taxes are going up! Guess what? Starting in 2025, prescription drug prices are getting a bit of a makeover. Picture this: a fancy price cap on prescription meds! If you're on Medicare, here's the lowdown: they're proposing a [...]
Welcome Ross Allen, Certified Financial Planner (CFP) Plan Manager, LPL Financial In his role as Plan Manager at LPL Financial, Ross supports Virtue Wealth Management where he assists in developing and executing comprehensive financial plans. As a member of the LPL Paraplanning Services team, Ross partners with advisors to deliver financial planning support by [...]
Volatility has returned right on queue as U.S. equity markets continue to pull back from overbought levels. The recent jump in interest rates has proven to be too much too fast for stocks to absorb, especially for the heavyweight and longer-duration technology sector. Deteriorating economic conditions in China and weak seasonal trends have been [...]
If You Make Over $145,000, You May Have to Pay Taxes on Your Catch-Up Contributions Planning for retirement is a crucial aspect of financial management, and catch-up contributions have long been a valuable tool for individuals looking to boost their savings. However, changes are on the horizon that may impact high-earning individuals who make [...]
Get informed on the SECURE 2.0 Act The SECURE 2.0 Act is a bipartisan comprehensive retirement legislation signed into law on December 29, 2022. Here are some interesting takeaways that might impact you: Required minimum distribution (RMD) age increases from 72 to 73 The age 72 trigger for taking RMDs is raised to age [...]
Here are some of my favorite financial and lifestyle tips as you start the year Knowledge is Retirement Power Especially When You're Traveling Looking to see more of the world during retirement? Some countries have created visa policies designed specifically for retirees. These retirement visa programs may also provide special benefits and incentives to [...]
Besides slowing the economy, higher rates affect your personal finances. Unless you live on another planet, you are fully aware of this thing called inflation — whether you’re at the grocery store, a gas station, buying clothes online, hiring a contractor or doing almost any other thing that requires spending money for something. Earlier [...]
Investors often talk about how earnings drive stock prices. But that begs the question how so many strategists and pundits expect earnings to fall in 2023 and stocks to rise? That’s our view in LPL Research. Let’s look at the histories of earnings growth and price performance for the S&P 500 Index on a [...]
Doing Some Tax Planning Now Can Pay Off Later in Retirement For many people, retirement is not a time to slow down and stop. It’s a time to explore the next great chapters of your life and build upon everything you’ve learned and experienced so far. Another thing that doesn’t slow down or stop [...]
We received our final reading on Consumer Price Index (CPI) inflation for 2022 this morning, which gave us the inflation numbers for December 2022. Helped by declining energy prices, the index fell 0.1% in December, in line with economists’ consensus expectation and the largest monthly decline since April 2020. Consumer inflation advanced less than [...]
