End-of-Year Checklist

With the end of the year approaching, we wanted to remind you of a few things to consider regarding your retirement accounts.

Have you fully funded your Retirement Savings? Here are the contribution limits for 2022:

*You have until the tax filing deadline (April 18, 2023) to make 2022 contributions into your Traditional or Roth IRA.

Have you satisfied your Required Minimum Distribution (RMD)? IRA owners must withdraw a minimum amount from their account annually starting in the year they turn 72. 2022 RMD amounts are calculated using your 12/31/2021 account balance and your life expectancy. Stay tuned, RMD rules may be changed in the future!

Have you considered a Qualified Charitable Distribution (QCD)? Do you have a heart for charity? Consider a QCD to satisfy all, or part, of your RMD. QCDs are a way to transfer funds directly to a qualified charity of your choice in a tax-free event!

If you would like to discuss how this applies to your financial plan, let’s talk!

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