MAY 2022

Americans saw a number of changes to their retirement savings plans when the Setting Every Community Up for Retirement Enhancement Act, or the SECURE Act, was passed in late 2019. Lawmakers at the time said they weren't done and have since proposed more changes.  Our first article discusses likely changes to this act and the potential impact on your retirement savings, which we are pleased to help you with.

Protecting the privacy and security of your financial and personal information is a top priority at Janney. It’s part of our mission “to be the highest standard in financial relationships.” Janney’s comprehensive information security and privacy program is based on industry and international business best practices. Our second article outlines practices used as part of our data security and privacy program.

This month's "What's Happening Now" section shares interesting stories on this year's top world travel destinations, how to fight the impact of inflation on your health-care costs in retirement, and why aging Americans need to make some changes to live independently into old age.

We'd like to hear from you. Please feel free to contact us by phone at 614-888-2121, toll-free 877-389-2121 or email [email protected] with any questions or comments. 
Sincerely,
SECURE Act 2.0: 14 Ways the Proposed Law Could Change Retirement Savings

The House-passed bill would automatically enroll some workers in retirement plans, raise the mandatory age for RMDs, and much more.
Data Security

Protecting the privacy and security of your financial and personal information is a top priority at Janney. It’s part of our mission “to be the highest standard in financial relationships.” Janney’s comprehensive information security and privacy program is based on industry and international business best practices.
What's Happening Now
Market Update

April saw rising COVID cases in China prompt the shutdown of some of its biggest cities, causing global supply-chain issues. The ongoing war in Ukraine continues to exacerbate pressure on food and energy prices. While first-quarter earnings data was moderately favorable overall, several major companies reported disappointing results. And inflation continued to rise, leading to an almost certain 50-basis point interest rate increase from the Federal Reserve this week.

All of this led to April being a rather difficult month for Wall Street, capping the worst four-month start to a year in decades. The Dow and the S&P 500 endured the worst monthly returns since March 2020, but they weren't as bad as the Nasdaq, which suffered its biggest drop since October 2008, according to Dow Jones Market Data.

Ten-year Treasury yields climbed 56 basis points to settle at 2.88%. Crude oil prices advanced $3.13 to $104.07 per barrel. Prices at the pump fell in April as the national average retail price for regular gasoline was $4.107 per gallon on April 25, up from the March 28 price of $4.334 per gallon. Gold prices decreased after climbing well above $1,900.00 per ounce in March. The U.S. dollar hit a 20-year high before pulling back, but still posted the best month since January 2015.
Chornyak & Associates Financial Planning Consultants
at Janney Montgomery Scott

716 Mt. Airyshire Boulevard, Suite 200, Columbus, Ohio 43235

Janney Montgomery Scott LLC Financial Advisors are available to discuss all considerations and risks involved with various products and strategies presented. We will be happy to provide a prospectus, when available, and other information upon request. Janney Montgomery Scott LLC, its affiliates, and its employees are not in the business of providing tax, regulatory, accounting, or legal advice. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any taxpayer for the purpose of avoiding tax penalties. Any such taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor. Market Update Prepared by Broadridge Advisor Solutions.

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