The Weekly Wealth of Knowledge is your download of this week's most important topics related to financial planning, the markets, and our community. January is here and it is "new year, new you" month at MONECO. All month long we will be providing you with a host of content about new goals, new habits and new financial planning strategies to consider.
In this issue:
- New Life Expectancy Tables Impacting Your RMDs (2 min read)
- U.S. Allocates $14 bln To Expand Ports (4 min read)
- You Can Read 12 Books In 12 Months (3 min read)
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New Life Expectancy Tables Impacting Your RMDs
If you are currently taking Required Minimum Distributions (RMDs) from a retirement account, you will want to be sure to check the new life expectancy tables released by the IRS. Life expectancy is used in the calculation for determining the minimum amount that must be withdrawn each year. As always, if you have any questions, do not hesitate to reach out to your advisor.
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U.S. Allocates $14 bln To Expand Ports
If you have made any purchases over the past 18 months, you may have been told that whatever you were needing was not available due to "supply chain challenges." Although steps have been taken across the country to ease this strain, the Federal government again stepped in last week, announcing an allocation of 14 billion dollars to help. Not only will these funds be used to decrease congestion at ports, it will also be used to expand waterways and address defenses against climate change.
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You Can Read 12 Books In 12 Months
Long before smartphones and being plugged in 24/7, people read books to relax and let their minds wander away from the daily stresses of life. Keeping with the theme of "new year, new you" month at MONECO, here is a strategy to get back to basics, put the phone down and read 12 books in 12 months. Good luck!
