IN THE KNOW
Monthly Newsletter
November 2019
At ML&R Wealth Management , we want to ensure our clients are In The Know. In this month's newsletter we have a timely article on tips for year-end tax planning as well as a piece from Dimensional that explains what happens when you fail at market timing. We are also sharing the 2020 401(k) contribution limits. We are a firm that understands that managing your assets is about more than money. It is about empowering your future. At ML&R Wealth Management, we focus on you.
Vanessa McElwrath, CFP® , Wealth Management Partner

For many, the fourth quarter is a hectic time of year. But as 2019 comes to a close, avoid treating year-end planning as an after-thought. By incorporating a few strategic tax planning moves into your fourth quarter routine, you can save on 2019 taxes and maximize the value of your retirement nest egg in the long run. Here are some actions to consider before year end:

Maximize Deferrals to Retirement Accounts:
Both tax-deferred retirement and health-care savings contributions are subject to annual limits. Now is a good time to find out how much you have contributed to your employer sponsored retirement plan and how much you can still contribute before December 31st. If you make this move early enough, you may still be able to increase your salary deductions in order to make up for any shortfall below the maximum. And while you are reviewing deferral limits, it’s a good idea to get an update on new limits for   2020   and prepare for any salary adjustments that you may need to make in January.


It’s hard to predict the best days in the markets, and the cost of missing them can be high .


As you approach year end, try to make some time during this hectic season to do a little planning as you go into the new year. In the above video, Vanessa McElwrath, Wealth Management Partner, recently sat down with KVUE and highlighted those high level items.

As it relates to your retirement accounts, the IRS has bumped up the contribution limit for your 401(k) from $19,000 to $19,500 with the catch up contribution (if over age 50) bumping up to $6,500 from $6,000. They have kept the contribution limit of the IRAs at $6,000 with a $1,000 catch up if over age 50.

If you aren’t already maxing out your retirement accounts, now is the time to sit down and review if you can for 2020. For those that already are maxing out your contributions make sure you update your 401(k) contribution in order to reach the new max.

Financial Wellness Q&A
In this section we will address common personal finance questions. Email socialwm@mlrpc.com if you have a question you would like answered.


Question: What is a Donor-Advised Fund?

Answer: A donor-advised fund, or DAF, is a giving vehicle established at a public charity. It allows donors to make a charitable contribution, receive an immediate tax deduction and then recommend grants from the fund over time. Donors can contribute to the fund as frequently as they like, and then recommend grants to their favorite charities whenever makes sense for them.
ML&R Musings

“How many times does the end of the world as we know it need to arrive before we realize that it's not the end of the world as we know it?”
 ~ Michael Lewis
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About ML&R Wealth Management:
At ML&R Wealth Management, we take investing personally. Your ML&R Wealth Management advisor will work to develop a lasting relationship with you, keeping in touch to understand your changing goals and to provide an asset management strategy to help achieve them. Whenever you need sound financial advice, you have a direct line to a trusted advisor.

For over 20 years, we have served individuals, families, businesses, and nonprofits with wealth management services, custom retirement and 401(k) plans, and portfolio management.

We believe in accountability and transparency and operate as a fee-only advisor with fees calculated solely on assets under management.
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