RWC For Life

🇺🇸 In honor of Memorial Day, our office will be closed. We will be back to our regular hours starting Tuesday, May 28.

We invite you to join us in remembering that Memorial Day is more than just a long weekend. It's a time for us to come together and honor those who have made the ultimate sacrifice for our freedoms.

Wishing everyone a safe and meaningful Memorial Day weekend.

Planning for the long term is key to a successful financial future, but your short-term financial situation also matters, especially since it can impact that long-term strategy. Just as we all create retirement plans, every adult should have an emergency plan, or “rainy day” fund, offering a safety net for when the unexpected strikes.

Swipe through for six ways an emergency fund provides protection ➡️ And remember, while the exact amount of money needed varies by person, it’s generally recommended that Americans have three to six months' worth of living expenses in an easily accessible checking or high-yield savings account.

Do you have questions about emergency funds or other aspects of long-term financial wellness? Reach out to us anytime – we’re always here as a resource🤝

Happy Leap Day 🎉 What do you plan on doing with this bonus day? We'd love to hear — let us know in the comments!

If you need an idea, we think it’s the perfect time to get ahead on your financial goals for this year. Send us an email or give the office a call to tap into our expert guidance.

Have you heard about the changes to required minimum distributions (RMDs)?

In the past, hitting 72 marked the start of mandatory RMDs from retirement accounts. But guess what? Thanks to the SECURE 2.0 Act, the RMD age has been bumped up to 73 until 2032. And in 2033, it'll jump further to 75! 🎉

These changes can feel really confusing 😵‍ If you, or someone you know, is approaching retirement age, swipe through to learn about how you may be affected by these changes ↩️

On this Veterans Day, we honor the courageous men and women who have selflessly served our country to safeguard the freedoms we cherish 🇺🇸

If you, a family member, or a loved one is a current or former service member, we extend our sincere thanks today and every day ❤️🤍💙

As we head into historically the strongest time of the year for U.S. equities, we’re sharing some helpful context about October’s key market and economic developments.

Swipe to see details on inflation, labor market strength, and the Fed ➡️

📣 ANNOUNCEMENT!! 📣

The Social Security Administration (SSA) just released information regarding the 2024 cost-of-living adjustment (COLA). Swipe to get the details ➡️

Have questions or concerns as you prepare for the new year? Reach out anytime via phone or email. We're here to ensure you're in the know about Social Security benefits and your broader financial picture!

Happy Labor Day – or as our furry friends would say, Happy Monday 🐾

We hope all of you can take some time to relax, whether it’s in the form of cat naps or some dog-gone good Labor Day deals!

📚🎒 Time to dust off those backpacks and sharpen those pencils! Wishing all the amazing families out there a fantastic back-to-school season! May it be filled with laughter, learning, and countless "aha" moments.

You've got this! ✏️🎉

It’s never too early to teach your kids the value of saving 💰 🏦 In particular, the summer months present a great opportunity for parents to share personal finance lessons with their children. Take a look at four ways to do just that ➡️

Have another tip to add to the list? Share the knowledge, and comment it below!

Happy Mother’s Day 🌷 We just wanted to take a moment to wish all the mothers in our lives a wonderful day! We know you do a lot and hope each one of you knows how appreciated you are.

In honor of Mental Health Awareness Month, we want to shine a light on a few important statistics to keep in mind this month and throughout the year:

🧠 1 in 5 U.S. adults experience mental illness each year
🧠 1 in 6 U.S. youth aged 6-17 experience a mental health disorder each year
🧠 Su***de is the 2nd leading cause of death among people aged 10-14

This May, we hope you’ll join us in spreading awareness about mental illness and compassion for those struggling with mental health conditions 💚

📖: Mental Health By the Numbers, NAMI

Hello Friends - I need your help!

I need to gather budgeting habits from as many people as possible. I have an anonymous four-question budget survey. It would mean the world to me if you would take 30 seconds right now and answer my four questions. This is anonymous; click the link below and complete this for me.

Thank you, Mike

PS: If you want to see the survey results or what I am up to (EXCITING MONEY TRANSFORMATION PROGRAM COMING) follow my Dashing Upward page.

Budget Survey - Anonymous Please help us with our four simple question budgeting survey.

This Valentine’s Day, we want to thank our clients for their continued trust 💝 You’re the heart of our business and why we love what we do.

Hope everyone has a wonderful day celebrating with loved ones!

Happy Groundhog Day 💚 Did you know that Punxsutawney Phil gets it wrong 61% of the time? At least there’s one thing he gets right year after year – his work schedule!

What are you rooting for this year? Tell us in the comments:

❄️ More winter
🌸 Early spring

Entering a new phase of life can be scary on its own, but the prospect of no longer earning steady wages can make retirement a particularly tough decision 😰

The good news is that there are some signs that you are financially ready to retire. Take a look at four key ones below.

1️⃣ You are debt-free. You want to pay off debt during your working years, not when you’re on a fixed income. Prioritize debt payoff ahead of retirement.

2️⃣ You have enough saved. You’ll generally want at least 70% to 80% of your pre-retirement income.

3️⃣ Determine a retirement budget. Confirm how much you’ll need (and whether you have enough) by creating a retirement budget–be sure to consider travel plans, etc.

4️⃣ You have reviewed your portfolio. Take a look at your current investments and plan ahead. Often, your portfolio will need to be more conservative in retirement.

Ultimately, if you’re thinking of retiring, it’s a good idea to talk to a financial advisor well ahead of time so that you can enjoy retirement to its fullest 🥳

On that note, what are you looking forward to most during retirement? Share in the comments below ↩️

On this day in history, the world’s largest diamond was found 🤯💎 On January 25, 1905, the “Cullinan” diamond was discovered in a mine in South Africa.

At 1.33 pounds and 3,106-carats, it was declared to be the largest diamond ever found! It was eventually cut into various diamonds, with some of the largest ones now on display at the Tower of London in the British royal scepter and crown 👑

Do you have another fun fact to add to the mix? Drop it in the comments–we’d love to hear it!

We know that the winter blues are sometimes inescapable, which is why we wanted to share this insightful quote from poet Anne Bradstreet. While she may have written this way back in the 1600s, it is certainly still applicable in our modern day lives.

Feel free to share this post to encourage someone today 💙

Today, we wanted to take a minute to wish everyone a very Merry Christmas 🎄 We’re incredibly grateful for all that we were able to accomplish as a team this year, and we look forward to continuing on in 2023!

What’s your favorite Christmas tradition? Let us know below ⬇️

You might already be daydreaming about 2023, but we encourage you to do one final check on your finances before the year ends. Here are a few things to look over:

✔️ Review your budget and spending. Did some of those numbers take you by surprise? Make adjustments to your categories as needed.

✔️ Review outstanding debt. Then, set reasonable goals for paying it down! You’re not going to be debt-free overnight, but being consistent and sticking to your plan will work over time.

✔️ Revisit savings goals. Are you planning on a big vacation in 2023? Or maybe you’re wanting to buy a new car; adjust your savings goals as needed for big-ticket needs or wants.

If you’d like to go through this checklist together, just give the office a call or message us!

Most people planning for their retirement count on their Social Security benefits to make up part or most of their income – but did you know that those benefits can be subject to federal taxes? To figure out how much you might pay, follow this equation to determine your combined income:

(monthly Social Security benefits x 6) + anticipated annual income = combined income

The anticipated annual income will come from your pensions, ordinary dividends, interest, capital gains distributions, and wages. Now you can check to see how much of your benefits might be subject to federal income tax.

Filing individually:

💰 If your combined income is between $25,000 and $32,000, you may owe federal income tax on up to 50% of your benefits.

💰 If your combined income is more than $32,000, you may owe federal income tax on up to 85% of your benefits.

Filing jointly:

💰 If your combined income together is between $32,000 and $44,000, you may owe federal income tax on up to 50% of your benefits.

💰 If your combined income together is more than $44,000, you may owe federal income tax on up to 85% of your benefits.

I know this is complicated – that’s why I’m here to help! Share this information to help others, and leave your questions in the comments below.

I am happy to announce that I have attained the Chartered Financial Consultant® ChFC designation with The American College of Financial Services, effective August 1st, 2022. This accomplishment will add to my ongoing education in the financial services industry and help me as I strive to be the best financial advisor I can be.

Chartered Financial Consultant® • Michael Fry • The American College of Financial Services Providing applied financial knowledge and education since 1927.