JANUARY 2023

There are some new rules for required minimum distributions (RMDs) from retirement savings accounts (e.g., traditional IRAs and 401(k) plans). Congress just passed the SECURE 2.0 Act of 2022, which makes significant changes to the way Americans save for and are taxed in retirement. And one of the major areas of focus in the new law is reforming RMDs. Our first article discusses these changes that take place in 2023. Give us a call if you would like to discuss how these changes might affect you.

Billionaire Charlie Munger thinks we should all be a lot happier. Munger, the longtime investment partner and friend of fellow billionaire Warren Buffett, says he doesn’t understand why people today aren’t more content with what they have, especially compared to harder times throughout history. Our second article explains Munger's thoughts.

This month's "What's Happening Now" section shares interesting stories on the most unexpected real estate trend of 2022 and why it is good for buyers, electric vehicle sales hitting a tipping point in 2022, and why the forecast for 2023 is hot.

We'd like to hear from you. Please feel free to contact us by phone at 614-888-2121, toll-free 877-389-2121 or email jchornyak@janney.com with any questions or comments. 

NEW RMD RULES: STARTING AGE, PENALTIES, ROTH 401(K)S, AND MORE

There are some new rules for required minimum distributions (RMDs) from retirement savings accounts (e.g., traditional IRAs and 401(k) plans). President Biden has signed the SECURE 2.0 Act of 2022, which makes significant changes to the way Americans save for and are taxed in retirement. And one of the major areas of focus in the new law is reforming RMDs.

STOP COMPLAINING, SAYS BILLIONAIRE INVESTOR CHARLIE MUNGER: ‘EVERYBODY’S FIVE TIMES BETTER OFF THAN THEY USED TO BE’

Charlie Munger thinks we should all be happier. Munger, the longtime investment partner and friend of fellow billionaire Warren Buffett, says he doesn’t understand why people today aren’t more content with what they have, especially compared to harder times throughout history.

What's Happening Now

The Most Unexpected Real Estate Trend of 2022

Electric vehicle sales hit a tipping point in 2022 

The forecast

for 2023 is hot

Market Update

The year 2022 may best be described by one word: inflation. The economies of the United States and the world were influenced by rising inflation, its causes, and the policies aimed at curtailing it. While inflationary pressures began to mount in 2021, they were exacerbated by continuing supply shortages; the ongoing effects of the COVID-19 pandemic, both here and abroad; the Russian invasion of Ukraine; and a global energy crisis.

Nevertheless, as 2022 draws to a close, there are some positives to consider entering the new year. The GDP expanded for the first time in the third quarter, and crude oil and gas prices reversed course and dipped lower. Primary inflationary indicators, such as the consumer price index and the personal consumption expenditures price index, trended lower at the end of the year. Ultimately, the economic outlook for 2023 will likely depend on the path of inflation and whether the economies of the U.S. and the world can avoid a recession as prices are driven lower.