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Higher 2024 retirement plan contribution limits allow for more long-term savings.

1 month ago

1 month ago 175

Every year, the contribution limits for retirement accounts can change, opening up the opportunity for employees to defer more income for retirement. For 2024, cost-of-living adjustments are small, but worth noting. The new contribution limits for 401(k), 403(b) and 457 plan contributions increased $500 from 2023’s limit. The total amount you and your employer can contribute in combination to a 401(a), 401(k) or 403(b) plan increased $3,000 to $69,000. By…

Q4 2023 Quarterly Context Video

By WealthStep in Financial Tips, General Education, Investor Behavior, News, Quarterly Thoughts, Video

2 months ago

2 months ago 335

Stock and bond markets came out better than expected in 2023 despite rate hikes, wars and collapsed banks, the chance of recession is dropping but still exists, markets may be more tepid in 2024, bonds got a boost at the end of the year. That plus a general key retirement planning review and more in this quarter’s Quarterly Context webinar …Watch to stay relaxed by staying informed, and remain current…

Are you saving enough? Up to the new retirement plan limits?

By WealthStep in Financial Tips, News

1 year ago

1 year ago 485

Did you increase your savings rate a few months ago when the IRS increased retirement plan savings limits? If not, now is still a great time to do so. In most years, the IRS increases the limit for what individuals can contribute to their retirement plans. If that change slips past you, and/or you forget to increase your savings rate, you lose an opportunity to save more on a tax-advantaged basis….

Recessions and your financial plan

By WealthStep in Financial Tips, General Education, Investor Behavior, News, Quarterly Thoughts

1 year ago

1 year ago 338

The threat of a recession continues to be one of the most pressing concerns for investors. Inflation has proved hard to restrain, and the Federal Reserve continues to raise interest rates. Disagreement on recession likelihood Whether the U.S. will fall into a recession is still uncertain, and a subject of debate amongst experts. According to a recent UCLA Anderson Forecast, the U.S. is not currently in a recession, and the chance…

Q3 2022 Quarterly Context Webinar

By WealthStep in Financial Tips, General Education, Investor Behavior, News, Quarterly Thoughts, Video

1 year ago

1 year ago 401

Inflation is still hot but with signs of improvement, Ukraine is still at war and affecting energy and food prices, talk of a recession is heating up, both stock and bond markets continue to test investor discipline, is it better for the Fed to pull the Band-Aid off quickly or slowly? How long do bear markets typically last? That and more in the 2022 3rd quarter Quarterly Context Webinar!

Insurance during your midlife gap year: make sure your career break is fully protected

By WealthStep in Financial Tips, General Education, Investor Behavior, News, Uncategorized

1 year ago

1 year ago 376

You’re embracing the idea of a midlife gap year. You’re picturing the landscapes, culture, and bucket list experiences in your mind. But unattended business is holding you back from peak excitement. You need proper insurance in case something goes wrong. When you’re taking a career break it’s tempting to ignore that responsible voice in your head. But if you do, this thrilling chapter of your life will be written with unnecessary…

What to do in a volatile market: Should I sell my stock?

By WealthStep in Financial Tips, General Education, Investor Behavior, News

1 year ago

1 year ago 391

The stock market has been anything but stable recently. And unsurprisingly, that usually means our emotions haven’t been either. Financial freedom is tied to market performance, and when you start hearing about “down markets” or “recessions,” one question tends to come up in our nervous brains… Should I sell my stock? At its face it seems like a reasonable question. Afterall, if the market is headed for a prolonged downturn,…

What California homeowners need to know about Proposition 19

By WealthStep in Financial Tips, News

3 years ago

3 years ago 0 616

On election day, the narrow passage of Proposition 19 in California brought good news for some homeowners. The new law allows homeowners who are over 55, or disabled, or victims of wildfires or other disasters to transfer the tax base of their primary residence to a replacement residence. This expands on the current law which allows homeowners over 55 to retain their tax base within their own county or some reciprocal counties,…

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