Winter 2021

I am a list lover. I love to make lists, scratch things off of lists, make new lists, and throw away old lists. Making lists and checking things off gives me a sense of accomplishment. In addition, I also make sure I don’t forget anything. During the week, I begin to think of all the things I want to do on the weekend and start my weekend list. The most used feature on my phone is probably my reminders, which is just a digital list so I don’t forget things. Lists make me feel organized and on task. For my birthday a few years back, my husband bought me digital notebook that allows me to scan my list and take them with me. Have you ever made a store list and forgotten to take it with you? Me too! Talk about a lifesaver!

So as we wind down the end of 2021 and begin a fresh start in 2022, here are a few things you can add to your checklist:

Year-End Reminders:

  • Don’t forget your charitable donations. Most charities count on your year-end donations to budget for the next year. In addition, the deadline for tax deductions (if eligible) is December 31st!
  • We have a list of people who need to take required minimum distributions (RMDs) from their IRAs. If you haven’t satisfied this requirement, you will be hearing from us. The IRS penalty for not taking this is 50% - we don’t want you to be subject to that!
  • The stock market has been up this year and you may have incurred some realized capital gains. You may be eligible to offset those gains by selling some investments at a loss. Cliff or I will be in touch to discuss this, if we have options for you.
  • Remember the markets are closed on Friday, December 24th in celebration of the Christmas holiday.
  • Check out our website: com. Cliff and Stacy will have a new video posted soon and some upcoming videos in the spring. Plus you’ll find past blog posts and all kinds of interesting resources!

New Year Reminders:

  • Inevitably, January gets everyone thinking about taxes. Remember, Raymond James mails most tax forms by the end of February, some into March. Look for your forms by the end of February and if your form will be later, Raymond James will send you a letter letting you know.
  • Your social security will be increasing this year. When you receive your first payment, make sure you received your cost of living ‘raise.’ Most recipient’s benefits will increase 5.9%
  • Have you maximized your 2021 IRA or Roth IRA contributions? You have until April 15th to make sure you have done this. Contact us to get this completed ASAP so you don’t miss the deadline.
  • 401k contribution limits have increased for 2022! Now you can contribute $20,500 and if you are over the age of 50, you can also contribute an additional $6,500.
  • January and February bring two days of market closures: Monday, January 17th, in honor of Martin Luther King, Jr Day and Monday, February 21st, in honor of President’s Day.

Enjoy the lists and feel free to add to them! Here’s one more date to mark: February 24th is Cliff’s Birthday – he’ll be 60! Remember to wish him a happy day!

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