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The Woodward Financial Advisors Blog

SECURE ACT 2.0: One of the Few Certainties in Life is Taxes, and Changes to Them Thumbnail

SECURE ACT 2.0: One of the Few Certainties in Life is Taxes, and Changes to Them

Happy New Year from all of us at Woodward Financial Advisors! Three years ago, the original SECURE Act (Setting Every Community Up for Retirement Enhancement) passed, bringing a host of changes, including an increase to the Required Minimum Distribution age from 70 ½ to 72 and the elimination of the “Stretch-IRA.” On December 29, 2022, the much-anticipated SECURE Act 2.0 was signed into law.

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Give The Gift of Financial Education: planting seeds for the next generation of financially savvy individuals Thumbnail

Give The Gift of Financial Education: planting seeds for the next generation of financially savvy individuals

The holiday season is upon us! For me, this brings fond memories of family traditions centered around spending time together, eating good food, and exchanging gifts. This year, consider giving the gift of financial education to your children (or grandchildren) that will pay dividends (pun totally intended) as they grow.

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Know Your Worth: Thumbnail

Know Your Worth:

If you are reading this post in the hopes of “knowing your worth” as it relates to your moral character, societal contributions, or, more literally, how much you can get for your plasma, I am sorry to disappoint. But before you click away from this page, this article may give you something more valuable: education on the calculation and application of your net worth. It might not sound exciting, but this could help you focus on goals and live your life to the fullest, and what could be more thrilling than that?

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Keep an Eye Out for the Kitty, or Rather, the Kiddie Tax Thumbnail

Keep an Eye Out for the Kitty, or Rather, the Kiddie Tax

Each year, I get a tax bill for our family dog. This county tax pays for animal control and shelter services. Our neighbors get a similar bill for their cats. But this kitty tax is entirely different from what’s known as the “kiddie tax”, which is the topic of this article… sorry if this is a disappointment for you cat lovers out there! The kiddie tax comes into play when someone is considering giving to a minor-age family member. Many of our clients are very generous to their loved ones, so we find ourselves discussing this sometimes-overlooked rule often.

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The Role of Listening in Financial Planning Thumbnail

The Role of Listening in Financial Planning

Listening is a skill that’s often overlooked, both in business and in society at large. The pace of modern life means that most of us are busier with more demands on our time. Yet investing the time and energy in authentic and genuine listening can improve our relationships by giving us a greater sense of understanding and helping us form better connections.

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To Roll or Not to Roll-Over Your 401k?     Thumbnail

To Roll or Not to Roll-Over Your 401k?

You’ve just landed your dream job with a new employer or have finally made the transition into your long-awaited next phase (aka retirement). After taking some time to celebrate these milestones, you may ask yourself, “What should I do with my old 401k now that I’m no longer contributing to it?”. Here are some reasons that you may or may not decide to move your 401k into an IRA.

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