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Weekly Wealth of Knowledge - Week of 1/9/23

January 11, 2023

The Weekly Wealth of Knowledge is your download of this week's most important topics related to our community, financial planning, and the markets. 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:

       •  5 Financial Resolutions For 2023 (2 min read)
       •  SECURE Act 2.0 Passes The Senate (3 min read)
       •  FED Update (3 min read)

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5 Financial Resolutions For 2023

As we continue with the theme of "new year, new you" at MONECO all month long, this week we look at 5 financial resolutions to get your year started off right. Whether it be saving more, paying off debt or putting some funds aside to take that memorable trip with friends and family, we are here to help if you have any questions!

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SECURE Act 2.0 Passes The Senate

Although passing the House earlier last year, the Senate approved the SECURE Act 2.0 on the eve of the new year and there are many provisions, now that it is law, that you should be aware of. This would include increases to tax benefits for savings in retirement plans for both employees and employers, as well as Required Minimum Distribution changes. If we can assist on how these new measures may impact your overall financial plan, do not hesitate to reach out to the office.

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FED Update

The Federal Reserve had a busy 2022, conducting a series of interest rate hikes in hopes of cooling the economy, the likes and speed of which we have not seen in years. Now that 2023 is upon us, they have released the minutes from their December meeting to forecast what they may have in store next. Although inflation remains their key focus, they want the "flexibility" to change course, as the underlying economic conditions warrant.

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The opinions voiced in this material are for general information only and are not intended to provide specific financial or tax advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.