The analysis that follows was written by Vance Howard, CEO of Howard Capital. Howard Capital provides money management services through our firm, Houston Wealth Advisers, LLC, a Registered Investment Adviser (RIA). We make this post available as a courtesy, but wish to note that we have not contributed to, nor are we responsible for, its content. The information contained in this analysis should not be considered investment advice, an offer to purchase any security or investment, or a solicitation of any kind. Consult your financial adviser, review all materials and prospectuses, and consider all risks before making any investment. Noel R. Vincent, Managing Partner & Chief Investment Officer – Senior Partners Private Wealth Management
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The analysis that follows was written by Vance Howard, CEO of Howard Capital. Howard Capital provides money management services through our firm, Houston Wealth Advisers, LLC, a Registered Investment Adviser (RIA). We make this post available as a courtesy, but wish to note that we have not contributed to, nor are we responsible for, its content. The information contained in this analysis should not be considered investment advice, an offer to purchase any security or investment, or a solicitation of any kind. Consult your financial adviser, review all materials and prospectuses, and consider all risks before making any investment. Noel R. Vincent, Managing Partner & Chief Investment Officer – Senior Partners Private Wealth Management
On Thursday this week, President Biden signed into law a $1.7 trillion omnibus spending bill . Of particular note to investors was the inclusion of the SECURE 2.0 Act (an expansion of the 2019 Setting Every Community Up for Retirement Enhancement Act). Two key provisions concerning IRA, 401K, and other qualified retirement plans were included in the act:
Required Minimum Distributions (RMD) – Prior to the 2019 CARES Act, RMDs were required to begin at age 70 1/2. The 2019 act raised the beginning age to 72. Starting on January 1, 2023 (tomorrow), the RMD beginning age will be raised to 73. The beginning age increases again to 75 in 2033 (10 years from now). These changes help those not ready to withdraw funds from their plans at age 72. An additional year of potential investment growth and tax benefits before making withdrawals can improve the financial life of plan participants.
IRA/401K Contribution Catch-Up Limits – This affects participants of all qualified plans starting in 2025 (2 years from now). Currently, beginning at age 50, participants in Traditional and Roth IRA, 401K, 403B, 457, and other qualified retirement plans are allowed to make higher contributions to their plans in excess of the normal limits for younger participants. This is referred to as a catch-up election. Under the new law, additional increases in catch-up election contribution limits will affect participants at ages 60 – 63. This will allow savers to not only increase their plan contributions above the normal plan limits beginning at age 50, but at ever higher limits at ages 60, 61, 62, and 63 as they move closer to retirement.
Noel R. Vincent
More on this topic in later posts…
Merry Christmas everyone. We love and appreciate each of you. Blessings to you and your families this holiday season! – Noel, Jeff, and Dax
The analysis that follows was written by Vance Howard, CEO of Howard Capital. Howard Capital provides money management services through our firm, Houston Wealth Advisers, LLC, a Registered Investment Adviser (RIA). We make this post available as a courtesy, but wish to note that we have not contributed to, nor are we responsible for, its content. The information contained in this analysis should not be considered investment advice, an offer to purchase any security or investment, or a solicitation of any kind. Consult your financial adviser, review all materials and prospectuses, and consider all risks before making any investment. Noel R. Vincent, Managing Partner & Chief Investment Officer – Senior Partners Private Wealth Management
The analysis that follows was written by Vance Howard, CEO of Howard Capital. Howard Capital provides our firm with money management services through Houston Wealth Advisers, LLC, a Registered Investment Adviser (RIA). We make this post available as a courtesy, but wish to note that we have not contributed to, nor are we responsible for, its content. The information contained in this analysis should not be considered investment advice, an offer to purchase any security or investment, or a solicitation of any kind. Consult your financial adviser, review all materials and prospectuses, and consider all risks before making any investment. Noel R. Vincent, Managing Partner & Chief Investment Officer – Senior Partners Private Wealth Management
The market has been trading in a sideways pattern for the last three weeks, with no real direction either way. However, the overarching trend is still clearly down, and the markets look to be ready for a re-test of the lows set in September. Cash is king at this stage of the cycle, and we are sitting on a lot of it. Patience will pay off. This bear market will end; we just can’t be sure of when. Keep reading…
The analysis that follows was written by Vance Howard, CEO of Howard Capital. Howard Capital provides our firm with money management services through Houston Wealth Advisers, LLC, a Registered Investment Adviser (RIA). We make this post available as a courtesy, but wish to note that we have not contributed to, nor are we responsible for, its content. The information contained in this analysis should not be considered investment advice, an offer to purchase any security or investment, or a solicitation of any kind. Consult your financial adviser, review all materials and prospectuses, and consider all risks before making any investment. Noel R. Vincent, Managing Partner & Chief Investment Officer – Senior Partners Private Wealth Management
The following analysis was written by Vance Howard, CEO of Howard Capital. Howard Capital provides our firm with money management services through Houston Wealth Advisers, LLC, a Registered Investment Adviser (RIA). We make this post available as a courtesy, but wish to note that we have not contributed to, nor are we responsible for, its content. The information contained in this analysis should not be considered investment advice, an offer to purchase any security or investment, or a solicitation of any kind. Consult your financial adviser, review all materials and prospectuses, and consider all risks before making any investment. Noel R. Vincent, Managing Partner & Chief Investment Officer – Senior Partners Private Wealth Management
The following market analysis was presented by Vance Howard, CEO of our principal money manager, Howard Capital and a guest. We provide this post as a courtesy to our investment clients, but wish to note that we have not contributed to its content.
Noel R. Vincent, Managing Partner & Chief Investment Officer for Senior Partners Private Wealth Management
The following market analysis was written by Vance Howard, CEO of our principal money manager, Howard Capital. We provide this post as a courtesy to our investment clients, but wish to note that we have not contributed to its content.
Noel R. Vincent, Managing Partner & Chief Investment Officer for Senior Partners Private Wealth Management
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