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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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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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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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New Year's Resolutions Thumbnail

New Year's Resolutions

Financial planning reminds me of New Year’s resolutions sometimes. Our financial goals are usually well-intentioned, aren’t they? We hope to retire one day, to own a home, to pay for our education or that of our loved ones, and to give generously to charitable causes, among other things.

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2021 Year-End Housekeeping Thumbnail

2021 Year-End Housekeeping

As we bid farewell to 2021, we hope that you have opportunities to connect with family and friends, to relax and take a break from your routine, and to consider what you’re looking forward to in the year ahead. In addition to setting goals about books you want to read, activities you’d like to complete, and personal milestones you aim to achieve, you might also take advantage of some small pockets of time during the holiday season to complete some financial housekeeping tasks. This can help you start 2022 feeling productive, and move your savings and planning in the right direction for the new year.

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