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2023 Overview Thumbnail

2023 Overview

As we bid farewell to another year, it's time to take stock of the financial landscape and chart a course for success in 2024. After the turbulence of the 2022 bear market, the stock market was in recovery mode during the first half of the year, offering hope for investors. However, after peaking in late July, the market went down for three straight months on news of inflation, turbulence overseas and the economy in general. Just when it seemed like things were not improving, we had a fantastic November and December giving us a nice market increase moving into the new year.

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529 to Roth Conversion: New Rules Going Into Effect In 2024 📈 Thumbnail

529 to Roth Conversion: New Rules Going Into Effect In 2024 📈

Saving for college education is a top priority for many families, but the uncertainty surrounding the cost of education and the future plans of the beneficiary can make it a challenging endeavor. That's where 529 plans come into play. A 529 plan is a tax-advantaged investment account designed to help families save money for a child's education. However, the new rules introduced by the SECURE 2.0 Act in 2024 have expanded the usefulness of these plans by allowing beneficiaries to roll over funds to a Roth IRA. In this article, we will explore the benefits and rules of 529 plans and Roth IRAs, and how these changes can reshape educational and retirement savings strategies.

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2024 Contribution Limit Changes to Health Savings Accounts (HSAs) Thumbnail

2024 Contribution Limit Changes to Health Savings Accounts (HSAs)

Health Savings Accounts (HSAs) have become increasingly popular as a tax-advantaged way to save money for medical expenses. With the rising costs of healthcare, it is crucial to have a financial plan that not only covers current expenses but also provides for future needs. We will explore the ins and outs of HSAs, including the recent changes to contribution limits in 2024, the benefits of using HSAs for retirement planning, and how to make the most of these accounts.

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Medicare Part D: Guide to Prescription Drug Coverage for Medicare Beneficiaries Thumbnail

Medicare Part D: Guide to Prescription Drug Coverage for Medicare Beneficiaries

Navigating the complexities of healthcare coverage can be a daunting task, especially for Medicare beneficiaries seeking comprehensive prescription drug coverage. Medicare Part D, a vital component of the Medicare program, is designed to provide assistance with the costs of prescription medications. Understanding the ins and outs of Medicare Part D is essential for making informed healthcare decisions and ensuring access to necessary medications. Let's delve into the intricacies of Medicare Part D, exploring its key components, coverage options, enrollment process, and important considerations for beneficiaries.

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