Another year will soon go down in the books … and what a crazy ride! As a point of reference and information, here are a few new updates to the tax laws regarding retirement accounts and contributions. The I.R.S. just increased the annual contribution limits on IRAs, 401(k)s, and other widely-used retirement plan accounts
So many investors are asking, “If the Democrats take back the House after the midterm elections, what’s going to happen to the markets and the economy?” Although I had to return my crystal ball to the store (because its past accuracy has been sketchy at best), I’d still like to offer my opinion. So, here
As we enter Michigan’s beautiful fall season, we remember that it is the uniqueness of life’s seasons that create opportunities for us to reflect on our experiences and learn from our past. There is a time for everything: Ecclesiastes 3 of the Christian Bible reiterates exactly that. “A time to be born and a time
Well, it happened … in August, I turned the BIG 4-0! Honestly, I’ve kind of felt like I was 40 for the last ten years, so it’s really not much different. One thing that this old man has noticed lately is “Help Wanted” signs posted just about everywhere. As the economy officially printed its second
For most retirees, healthcare costs will be the biggest expense. It’s not a pleasant prospect, but it is a reality. A 65-year-old couple who left the workforce in 2017 will spend an average of $275,000 to cover medical expenses through retirement, according to the latest retiree healthcare cost estimate provided by Fidelity Benefits Consulting. That’s
Happy Independence Day to all! This year has been a much more volatile year in the stock indices in comparison to 2018. Many of our clients have questioned the ups and downs we’ve experienced for the last four months, pretty much since President Trump has started down the path of placing tariffs on some of
At OLV Investment Group, we have had the pleasure of hiring an international intern who is attending the University of Michigan. Muhammad Ammar is hardworking and eager to learn. In fact, when asked during his first week if he was willing to work an unscheduled, 13-hour day, he jumped at the opportunity. This very long
For a certain group of investors, conversion of their Traditional IRA into a Roth IRA could be an effective move to hedge long-term bets against higher tax rates in the future. For some living in Michigan, this strategy could also be a very viable way to pass assets onto the next generation and help manage
To say that there have been a lot of changes in Washington could be the understatement of the decade; but one change that should be beneficial to taxpayers, in the short term, is the new Tax Reform Act that was passed by congress in December 2017. Not only is this going to lower the corporate
Tuesday April 17,2018: the last day that we can file our income taxes on our 2017 individual earnings. That is, of course, without filing an extension. We also have from now until that day to make our contributions into an Individual Retirement Account. Many are asking whether the new tax law is going to affect
So many people I run into lately seem to be in a complete state of confusion regarding our current economy and the overall stock market. They can’t understand why the markets “feel okay” about such a politically incorrect, volatile and sometimes downright vile person in the Oval Office. My response to this sentiment lies in
Happy New Year! As 2018 is now in full swing, I hear from a few different sources that we are in for a long and precipitous second half of winter. To summarize the year of 2017, I’d like to touch on a few different points. I may even offend some of our readers; but hey,
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