Strong August For Markets 🙌, Insurance Awareness Month, and Don't Forget To Take Your RMD!

Greetings!

Summer is officially coming to an end and we’re heading into the season of changing leaves, cooler weather, and holidays.

Looking at the month ahead:

We are holding our first in-person event in almost two years on Thursday, October 7th at 5:30pm! Beth Allen of DIY Hip Chicks will lead a DIY class for homeowners on how to confidently hire a contractor for home improvement projects, while protecting your home, your wallet, and yourself. This event will also be live-streamed via webinar. Be sure to register below!

It’s already time to begin end of year tax preparation. Here is a checklist we have put together to hopefully help your tax season run smoothly.

It's time to start thinking about your RMDs. Unlike in 2020, there currently is no waiver this year meaning you'll need to take your RMDs by December 31st, 2021 in order to avoid a 50% tax penalty.

Friday, September 11^th was the National Day Of Service and Remembrance. On this anniversary we remember those who lost their lives as well as those who continue to fight for our freedom every day. Did you know this is also the largest day of charitable service in the United States as a means of turning tragedy into a day of doing good?

This month also holds two high holidays, Rosh Hashanah (9/7) and Yom Kippur (9/15-9/16). To those who celebrate, I wish you a Happy New Year

Fall began on the 22^nd! Bring on the brightly colored leaves, apple cider, and sweater weather!

September is the "calm before the storm" month between Summer activities coming to a close, and holiday preparation beginning. However, there are still plenty of things to look forward to and enjoy.

Wishing you all the best in this new season.

Until next time,

Marianna

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To help you curate a wealthy life, and achieve the financial balance and independence for which you strive.

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Beth Allen of DIY HIP Chicks, DIY expert and contractor, gives homeowners smart tips for hiring a pro for your next home improvement.

Learn to:

Speak confidently with a pro
Identify red flags to avoid problems
Ask the right questions - pricing, time, and codes
Prevent hiccups with ground rules
Protect your home, your money, and yourself
Plan your next project with checklists for hiring a great crew

A huge congratulations to Marianna's daughter, Becca and son-in-law, Caio on their wedding celebration this past Saturday, September 11, 2021.

Wishing all the love and happiness in the world.

In Other News:

Market Commentary:

Strong August For Markets

Markets continued to rally in August, with all three major U.S. indices setting new record highs. While there was some mid-month volatility, markets were able to bounce back swiftly toward month-end. The Dow Jones Industrial Average gained 1.50 percent while the S&P 500 notched a 3.04 percent return. The Nasdaq Composite led the way with a 4.08 percent return.

Read Full Market Commentary

IRS 2022 Key Numbers For HSA's

Common Tax Traps Involving Life Insurance

Insurance For Each Stage Of Life

Last year, RMDs were waived as a result of the SECURE Act. The waiver applied to:

2020 RMDs from traditional and inherited IRA's
2020 Employer-sponsored plans
2019 RMDs due by April 1, 2020 for individuals who turned 70 1/2 in 2019 and didn't take their RMDs before January 1, 2020.

For 2021, there is no waiver. This means that you will need to take your RMD no later than December 31, 2021 in order to avoid a 50% penalty tax.

If you have questions about your RMD status on your accounts, please be sure to contact us at 215-486-8350.

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