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Throughout 2023, we talked at length about navigating palpable sentiment, and the Federal Reserve, inflation, and the economic backlash of all things related to the COVID crisis.

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The SECURE Act 2.0, enshrined in the Consolidated Appropriations Act of 2023, marks a significant legislative stride aimed at fortifying retirement saving and planning in the United States. Passed on December 29, 2022, this act is a continuation of the SECURE Act of 2019, with both endeavors rooted in the collective mission of enhancing efficiency in retirement savings.

Let’s begin with an intriguing phenomenon that has gripped the financial realm: market bifurcation. It’s a topic that warrants our attention as we address recession fears. Picture this – the S&P 500, a collection of 500 diverse companies, yet a mere 8 “mega-cap” stocks hold a collective value exceeding eleven trillion dollars.

Financial planning can only be as strong as the risks that you eliminate from the plan. Any risk leftunaddressed, either intentionally or unintentionally, could undermine the most solid financial planning.

We’ve talked in the past about implementation being driven by the underlying financial planning work.Relative to the assumptions being made, we could construct an incredibly holistic financial plan, andimplement the plan with an effective mix of tools and platforms.

Since the beginning of the year, many clients have sought the answers to five questions that are seemingly on the minds of many others.

At a high level you could certainly say that inflation is moving in the right direction.

Should Everyone Have a Financial Plan?

No matter your financial circumstance, everyone should have some level of money management plan. Sounds daunting, doesn’t it? It really isn’t. The degree of money management required is completely dependent on your situation and overall financial goals.

What Is Money Management?

Money management has many facets—it involves everything from creating a budget to maintaining emergency cash reserves. This is where different circumstances and personalities come in.