Retirement Planning

Understanding Secure Act 2.0

Secure Act 2.0

Three years ago, the original Secure Act moved the Required Minimum Distribution (RMD) age from qualified pre-tax retirement accounts such as IRAs, 401(k)’s, 403(b)’s, etc., from age 70.5 to age 72.  The Secure Act 2.0 passed Congress at the end of 2022 and has made further changes related to pre-tax retirement accounts, qualified charitable distributions […]

Your Guide to Social Security and How it Fits in Your Plan

2023-1_Your 2023 Social Security Benefits Guide

By The Welch Group Retirement planning can be an overwhelming process, and understanding Social Security can be a big part of that. Thankfully, there are resources to help you comprehend what Social Security is and how it fits into your retirement plan. Social Security benefits can be an important part of your post-retirement income, so […]

A 2023 Investment Outlook

In 2022, the market suffered a hangover after almost 12 years of fiscal and monetary accommodation on the backend of the financial crisis of 2008-09 and Covid-19 in 2020. What brought the party to its end was the emergence of inflation and the Federal Reserve’s response to it via increased short-term interest rates and quantitative […]

All I Want for Christmas is… to be a Millionaire!

The dream of becoming a millionaire… Is this just a pipe dream or is it possible? The short answer: it is absolutely possible to become a millionaire. One of the best Christmas presents you can give yourself, and your family is the decision to become a millionaire and start on the steps towards that goal. […]

Great News for Savers in 2023

With the end of the holiday season right around the corner, we start looking ahead to a new year and new financial opportunities that can help impact our goals. Now is a great time to begin planning for 2023 and the perfect opportunity for you to save more in tax-deductible retirement plans. For weekly insights, […]

Charitable Giving with Confidence

One of the best things about being a financial advisor is working with amazingly generous people. Their generosity is displayed in many ways, from the giving of time, expertise, and money. Unfortunately, there are still many who are hesitant to give due to a lack of information about the charities themselves. If you are feeling […]

New Tax Break for Alabamians Over 65

A new tax law signed by Governor Kay Ivey in April of 2022 takes effect on January 1, 2023. The law offers a state income tax exemption of up to $6,000 per individual for distributions made from qualified retirement accounts, such as IRAs and employer-sponsored 401(k) plans, if the taxpayer is age 65 or older. […]

Avoid the Double-Dip Minefield of Retirement Savings

In a recent survey from Allianz Life, 54% of adults have reduced or stopped their retirement savings. What’s more disturbing is that the research indicated that 43% are dipping into retirement savings to help pay bills and live a certain lifestyle. This can cause a ‘double-dip’ minefield for retirement savings. First, the stock market is […]

5 Reasons Why Healthcare Professionals Should Not Delay Retirement Planning

2022-11_5 Reasons Why Healthcare Professionals Should Not Delay Planning for Retirement

By The Welch Group As healthcare professionals continue to navigate the challenges of the pandemic, many are likely dreaming of a quiet and peaceful retirement. Unfortunately, more than 40% of healthcare workers reported that their financial situations have gotten worse since the onset of COVID-19. Even without factoring in COVID-19 stressors, physicians and healthcare professionals […]

Be Prepared for 2023 Tax Changes

While inflation continues to be a thorn in the side of consumers, recent tax adjustments by the Internal Revenue Service (IRS) to prevent what the Tax Foundation calls “bracket creep” will provide welcomed relief in 2023. According to the Foundation, bracket creep is defined as a “push into higher tax brackets or a reduction in […]