FINANCIALLY FOCUSED

February 2022 Newsletter

People at all levels of wealth experience stress and anxiety when it comes to their financial lives. One company provides your retirement plan, another your brokerage account and another your insurance. That’s a lot to manage on your own and it is important for retirees and near retirees to understand that emotions can come into play. What’s your comfort level when it comes to building financial security? We are here to help you realize your financial dreams with solutions that fit your personal, family and business needs. Give us a call anytime, we are happy to help.

Some reminders to our clients:

• Tax season starts January 24 this year, but the filing deadline is April 18^th, not the typical 15^th because that’s Emancipation Day.
• There are no changes from 2021 for 401(k) or IRA contribution limit. It remains $6,500 per year for workers under age 50. If you are 50 or older, you can add another $1,000 as a catch-up contribution for a total maximum contribution in 2022 of $7,000.
• The limit for individuals to contribute to their SIMPLE retirement accounts, will be $14,000 for 2022, up from $13,500 in 2021. The catch-up for ages 50 and up is $3,000 for 2022 (no change from 2021), which means you can contribution up to $17,000 for 2022 if you are 50 or older.
• For 2022, a self-employed business owner can contribute as much as $61,000, that’s up from the maximum of $58,00 in 2021.

We enjoy our clients and enjoy your referrals, have a great month!

Travis, Mark, Brady, Makayla and Suzie

Over-looked Tax Breaks for Retirees

Preparing for taxes in retirement is one financial strategy move you can make to help keep more money in your pocket. And, to that end, there are several often-over-looked tax breaks that cater to retirees that you should be aware of.

Read More

International Investing: Opportunity Overseas?

For the past decade, U.S. stocks have outperformed foreign stocks by a wide margin, due in large part to the stronger U.S. recovery after the Great Recession. In general, U.S. companies have been more nimble and innovative in response to changing business dynamics, while aging populations in Japan and many European countries have slowed economic growth.

Read More

Chocolate Lava Cake

Chocolate Lava Cakes became famous for a reason: they're cakey on the outside with an irresistible center of warm dark chocolate flowing through the middle. The first time you try one, it may seem like magic, but this recipe is actually quite easy to make and ready in under an hour.

Get Baking!

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MakaylaBoer@swensonag.com

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