On December 29, 2022, President Biden signed into law a $1.7 trillion spending package. The package includes the SECURE 2.0 Act, a series of provisions that will affect the way many Americans plan and save for retirement.

SECURE 2.0 builds on the SECURE Act of 2019, which, among other measures, increased the age at which retirees must take required minimum withdrawals (RMDs) from 70½ to 72. Key provisions in the new package include additional increases to the RMD age, as well as less severe penalties for failing to take an RMD. In addition, savers over the age of 50 will be able to make larger catch-up contributions beginning in 2025.

Many of the SECURE 2.0 Act’s provisions take effect January 1, 2023. Still, others may take years to implement. Here’s what you need to know about SECURE 2.0 and how it may affect your retirement plan.

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Government-issued Series I Savings Bonds are paying historically high rates right now. These bonds have received a lot of attention recently because of their 9.62% interest rate (I Bond rates are tied to inflation, so they become more attractive as inflation rises).

If you purchase I Bonds now through October 2022, this rate applies to the first 6 months. That means if you buy the maximum ($10,000), you'll earn $481 after 6 months—guaranteed. 

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End-of-Year Tax Planning Tips

With the end of the year fast approaching, Tax Season may be the last thing on your mind. Yet in many ways, the final months of 2022 may be your last chance to reduce this year’s tax liability. To avoid overpaying Uncle Sam and preserve more of your hard-earned income, consider the following end-of-year tax planning tips for 2022.

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In general, rising interest rates tend to be a headwind for the stock market and overall economy. Yet long-term investors need not panic.

In a widely anticipated speech in Jackson Hole, Wyoming last month, Federal Reserve chairman Jerome Powell made it clear that the Fed is committed to raising interest rates until inflation is under control.

He also noted that it may take “some time” to stabilize prices and that households and businesses may feel pain in the interim. Consequently, the Dow Jones Industrial Average and S&P 500 lost more than 3% following Powell’s speech. And declines continued into the next week.

Indeed, the speech quashed investors’ hopes that the Fed may pivot its approach and take a less aggressive rate stance. Moreover, many investors are wondering what this means for stocks if interest rates remain elevated for the foreseeable future.

While a multitude of factors can affect the direction of the market, the relationship between interest rates, the economy, and the stock market is worth examining.

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U.S. stocks had their worst September since 2002. Here’s what’s contributing to recent stock market volatility and what it may mean for long-term investors.

As we enter the final quarter of 2022, it appears investors are increasingly losing confidence in the Fed’s ability to rein in inflation without sending the economy into recession.

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For high-income individuals, donor-advised funds (DAFs) are becoming an increasingly popular giving and tax planning strategy. Indeed, DAFs have grown considerably in recent years. According to a report from National Philanthropic Trust, grants to DAFs rose by 27% between 2019 and 2020, the highest rate of growth in over a decade.

Yet despite their recent rise in popularity, many investors are unfamiliar with DAFs and their potential benefits and drawbacks. In this article, we’re sharing what you need to know about donor-advised funds and how contributing to a DAF may help you reach your financial goals.

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