West Financial Services

Everything Everywhere All at OnceFor investors, 2022 was all about rising interest rates and the impact on financial markets. In late 2021, the Federal Reserve ("the Fed") was still purchasing treasuries and mortgage-backed securities, which was part of their policy response during the pandemic.

Last month we celebrated the day of my 40th anniversary with West Financial! How did that happen? To be honest, it hardly seems like it's been 40 years – and that is a gift. As I have aged, the clients have aged with me. We now have 95 clients aged 85 and older. The oldest client I have worked with was 104, and was she a character!

On December 29, 2022, as part of an omnibus spending package, the bill known as SECURE Act 2.0 was signed into law. The original SECURE Act, passed in December 2019, included numerous changes to the retirement planning landscape, including an increase in the age when Required Minimum Distributions (“RMDs”) begin, limiting “stretch IRAs” to just 10 years instead of over the life expectancy of the beneficiary, and eliminating the age cap for IRA contributions by those who work beyond RMD age.