Congress passed new laws in the SECURE 2.0 Act of 2022, changing the age requirements for taking Required Minimum Distributions (RMDs) from retirement accounts, as well as increasing the catch-up contribution levels. As of January 1, 2023, individuals must begin taking required minimum distributions (RMDs)...
Most investors love economic and market forecasts. Forecasts are alluring because they provide an illusion of certainty. And our brain wants certainty. The problem is that we are looking for certainty in the wrong place. Unlike market and economic forecasts, our "forecast" is...
On October 21, 2022, the IRS announced that the contribution limit for 401(k), 403(b), many 457 plans, and the federal government’s Thrift Savings Plan has increased to $22,500 for 2023. Below is a summary of the upcoming 2023 changes to retirement plan contribution limits...
Many clients have been asking us about Series I Savings Bonds. Here are some details that you need to know to determine if I Bonds are right for you - they are typically best for someone who has additional savings, which they feel they may not need for the next 1-5 years.
James Suazo, ChFC®, is quoted on this topic, answering a reader’s question on NJMoneyHelp.com by Karin Price Mueller, “We sold our stocks. What should we do with the money?”, originally published on September 7, 2022. Without knowing your full financial situation, we recommend answering the following questions to help you make an informed decision.
Baron Financial Group is committed to keeping your personal information safe and educating you on how to remain vigilant. With that in mind, we are sharing this bulletin from Schwab regarding potential scams. We have not received notification of any fraudulent activity with Baron Client Accounts. The following is an educational communication from Schwab to make you aware of what scams to look out for.
Many clients have been asking us about Series I Savings Bonds. Here are some details that you need to know to determine if I Bonds are right for you - they are typically best for someone who has additional savings, which they feel they may not need for the next 1-5 years.
We believe that all clients and prospective clients need to understand the way their financial advisor or potential advisor operates as a firm. We interviewed our Baron Advisors, Victor Cannillo, Anthony Benante, and James Suazo, to ask them some important questions:
There are always concerning headlines, disappointing economic results and fears about the future. This is exacerbated by the financial media, which is why I always advise investors to turn it off; ignore it. And if you just can’t help yourself to look, at the very least do it with the correct lens. That lens is that the media is all about getting you to click or tune in. Whether times are good or bad, the media often will portray things ...
Baron Financial Team Answers Questions About “Your Personal Economy"SM. To practice mindfulness when making investment decisions, we should: 1. Gather all the facts – not just those at our fingertips 2. Consider all the possible outcomes – not just ones we hope for 3. Consult with your advisor At Baron Financial Group, we always advise our clients to control the controllable and most importantly, keep emotions out of investing. Here is how we help our clients:
Victor Cannillo is quoted on this topic in an article in NJMoneyHelp.com by Karin Price Mueller, originally published on March 31, 2021. A reader with 14 years and $270k left on their 20-year mortgage and currently keeping those funds in an online bank earning 0.40%, posed the question, “Is there a better place to keep this money and earn some kind of yield without too much risk?” Baron Financial Group’s Wealth Management Principal, Victor Cannillo, offered this advice:
You may presume that the political landscape will affect your portfolio. But in actuality, data demonstrates there is no correlation between political party in power and stock market performance. View our video to learn what history has taught us over the past 85 plus years: