Feb 2022
Contributors: Colby McFadden, Justin Singletary, and Patrick Morehead
New Year, New Changes that may affect your retirement savings and planning are taking place.
Here is what’s new for retirement plans in ‘22.
*Markets are acting up. Make sure to stay on top of what we are watching. Read our most recent Market Minutes From The Boardroom for actionable insights on the market's most recent moves.*
Over the past few years, there have been a variety of changes that affect retirement accounts and retirement plans. The following are a few reminders of changes as a result of the Secure Act (2020) that may affect your retirement savings in 2022.
(Sorry kids and mail-order-partners, you're going to have to spend that money in a decade.)
Lastly, an item that has been around for many years but always worth mentioning is If you are over the age of 50 with earned income you are allowed a “catch up provision” that provides you the benefit of increasing your annual IRA Contribution from $6,000 each year to $7,000.
Markets are acting up. Make sure to stay on top of what we are watching. Read our most recent Market Minutes From The Boardroom for actionable insights on the market's most recent moves!
As for what is new in ‘22 and has importance to Retirement Red Zone individuals, here is what you need to know:
In other news about your money that you may be interested in knowing:
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Colby McFadden Founder, Quiver Financial
Justin Singletary Director of Retirement Services, Quiver Financial
Patrick Morehead Director of Alternative Investments, Quiver Financial
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