Plan. Protect. Prosper.
Our last communication discussed many of the changes that were going to occur as a result of the Tax Cuts and Jobs Act of 2017. Fortunately, for many of you this resulted in more take home pay and minimal impacts in other areas of your financial well-being. For those receiving the increase in their take home pay we strongly encourage taking this extra income and contributing it to your company 401(k) or other retirement savings plan. Another change happening in 2018 is for those under 50 years old the maximum 401(k) contribution increased from $18,000 up to $18,500. For those over 50 years old the maximum 401(k) contribution increased from $24,000 up to $24,500.
Please remember for those eligible for Roth IRA contributions, make sure you have made your 2017 contribution(s) before filing your 2017 taxes. Having a portion of your portfolio in Roth funds can be a good way to achieve diversification.
As tax season comes into full swing please feel free to use Spectrum as a resource. Those of you waiting on schedule K-1’s, these have a due date of March 15. If you have any questions/concerns the staff here at Spectrum are just a phone call/email away!
By popular demand for socially responsible investing Spectrum has added an ESG model to its managed portfolios. What does ESG stand for and where does it fit in my portfolio you may be wondering? ESG funds take into consideration environmental, social, and governance protocols when investing and/or doing business. After countless hours of analyzing funds and meeting with many investment firms, we have produced a finalized list. This list of equity and fixed income ESG ETFs can be blended to match whatever your risk tolerance might be. If you are so inclined, ask your Spectrum planner to show you the ESG lineup and how it could align with your portfolio.
During the last year Spectrum has added two new staff members. You will be kindly greeted when entering the building by Joanne Ramsey who is our Client Service Associate. We also added a new CFP® who many of you may already know Tyler (TC) Conley. These recent hires will help add to the depth of making the ordinary extraordinary here at Spectrum.
Tyler Conley has worked in the finance industry since 2009 and joined Spectrum in 2017. He became a CERTIFIED FINANCIAL PLANNER™ practitioner in the fall of 2016.