ira contributions

To watch this episode on YouTube visit: https://www.youtube.com/watch?v=94pR2-tT3OU

In this episode Chris Hammond discusses when the deadline is for your 2023 IRA contributions, and amounts you can put in one. 

To download a free copy of the Essential Step-By-Step Retirement Guide click here: https://retirementplanningmadeeasy.com/

I am a financial advisor, but I’m not your advisor financial planner. Please consult with your own tax, legal and financial advisor for personalized advice. Investment advisory services offered through Retirement Wealth Advisors, LLC (RWA), a registered investment advisor. RWA and Hammond Wealth Advisory are independent of each other. Insurance products and services are not offered from RWA but are offered and sold through individually licensed and appointed agents. This information is designed to provide general information on the subjects covered, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Hammond Wealth Advisory and its affiliates do not give legal or tax advice. You are encouraged to consult your tax advisor or attorney. Chris Hammond and/or Hammond Wealth Advisory are not affiliated with or endorsed by the Social Security Administration or any other governmental agency.

This episode is next in the podcast series, #AskPattiBrennan - a series of episodes in which Patti answers one of her listener’s frequently asked questions.  These podcasts are shorter in length and address one FAQ or RAQ (a rarely asked but should be asked question).  Not many people have been talking about a law that was passed at the end of 2022 called the Secure Act 2.0.  This law affects everyone’s retirement planning in some way or another and it’s very important that retirees sit down with a qualified professional to ascertain which changes in this law apply to them.  In this episode, Patti uncovers the big pieces of this law and offers actionable steps to take to benefit from those changes.

In this episode of Your Life Simplified, Valerie Escobar, senior wealth advisor, and Michael MacKelvie, wealth advisor, discuss how retirement plan rollover works. They also discuss your rollover options, including but not limited to the pros and cons of using an IRA as a rollover vehicle, and what options may be beneficial to your long-term goals.

In this episode of Your Life Simplified, Valerie Escobar, senior wealth advisor, andMichael MacKelvie, wealth advisor, discuss the checklist you should run through before the end of the year to make sure your taxes are in ordergoing into the new year.

Important aspects of the new SECURE Act:

• IRA Contributions
• Required Minimum Distributions
• Legacy Retirement Accounts (for your heirs)
• Implications for Small Businesses
• 529 College Savings Plans

Shanna Tingom of Heritage Financial breaks down each of these areas of the SECURE Act.

Resources:

Heritage Financial Website

• Call Heritage Financial at: (480) 397-1184