2026 Retirement Account and Contribution Limit Updates
The new year brings several changes to retirement account contribution limits and benefit thresholds. Below is a summary of the key updates for 2026: 401(k) Contribution Limits The elective deferral limit for 401(k), 403(b), and most 457 plans has increased to $24,500 for 2026. The catch-up contribution limit for individuals aged 50 and over has […]
Politics and Your Portfolio: Why Diversification is Your Best Defense
In the wake of U.S. elections, emotions often run high — especially when it comes to how political outcomes might affect financial markets. Financial Planning magazine asked 320 advisors “how will the US election outcome influence your retirement plan?” A staggering 90% anticipated a negative impact on their clients’ portfolios. This survey was from 2016, […]
Leveraging Investments for Charitable Donations
Utilizing investment assets to fund charitable contributions allows investors to maximize their donations while simultaneously receiving a greater tax benefit. Consider implementing the following strategies prior to the end of the year to elevate your charitable giving for 2024: Qualified Charitable Distributions(QCDs): A Qualified Charitable Distribution (QCD) is a direct transfer of funds from an […]
Year-End Tax Planning
While tax season is still several months away, year-end will be here before we know it. With that in mind, it’s important to make sure you’re taking advantage of the tax-planning strategies that make sense for your unique situation. Here’s a short list of topics we’ll be discussing with our clients over the next few […]
How to Improve your Credit Score
Your credit score is more than just a number; it’s a critical component of your financial picture. A high credit score can unlock lower interest rates on loans, better credit card offers, and even impact your ability to rent an apartment or acquire a motor vehicle. Here are some actionable steps to take if you’re […]
Cash Management In A Declining Interest Rate Environment
Over the last two years, interest rates have risen at a historic clip. As a result, Rockbridge has dedicated moretime helping clients manage cash reserves to take advantage of the current market environment. In previous years, “high yield” savings accounts were (and some still are) paying less than 1%. Now, it is easy to find […]
Changes for Unused Funds from 529 Plans Beginning in 2024
To address investor concerns related to 529 Plan savings going unused, a provision of SECURE ACT 2.0 allows the opportunity to rollover unused 529 education savings into a Roth IRA in the beneficiary’s name, penalty free. As a result, investors should feel a sense of relief about leftover 529 savings that weren’t used for education. […]
Estate Planning Awareness Month
October is Estate Planning Awareness Month, which serves as an important reminder for all of us to take time to review our estate plans or create one if we haven’t already. Estate planning is not just for the wealthy or elderly – it’s important for everyone to have a plan in place to protect your […]
IRS Delays Roth Catch-Up Requirement for High Income Earners
There was some good news from the IRS recently for high-income earners making catch-up contributions to their employer-sponsored retirement plans. The IRS recently issued a notice that they will be postponing one of the new rule changes under Secure 2.0 Act. If you recall, the Act was going to require high-income earners (individuals making over $145,000/year) over […]
Avoiding Surprises at Tax Time: The W-4 Form
The tax filing season can often be filled with angst as many filers are unsure whether they will receive a tax bill, a refund, or make it through unscathed. Fortunately, much of this stress can be avoided by properly filling out (or updating) your W-4 form. Employees are required to fill out their W-4 forms […]