To our valued clients,
Merry Christmas from your team at Perennial Wealth Advisors!
Thank You
First and foremost, thank you.
As each of you know, this year brought huge changes to our business. We moved away from our former broker-dealer model and started our own, independent Registered Investment Advisor (RIA) firm. We knew this change would not come easy, but we trusted it would lay the foundation for a better firm and an improved client experience. We could not have done it without your patience, trust, and commitment. Thank you for joining us.
Market Update
We will be sending you a separate email with a PDF attached, called “Client’s Corner.” These pieces are written by Nick Murray, one of our favorite financial experts. In my opinion, he understands the “big picture” of investing and wealth accumulation better than anyone I have read. I am often reminded and encouraged by his work that timing the market cannot be done consistently, and that the best long-term plan is one that pairs a well-diversified, stock portfolio with a client’s time frame and goals. I hope by reading you are equally encouraged.
Friendly Reminders
- Required Minimum Distributions (RMDs) – RMDs are minimum amounts that must be withdrawn from retirement accounts each year (due by 12/31), beginning the year your reach age 72 (or age 73 if you reach age 72 after Dec. 31, 2022). You may also be required to take an RMD from an Inherited IRA. We have completed most RMDs for our clients, but if you think you have an account that requires an RMD that has not been satisfied, please give us a call.
- Charitable Giving – One option to satisfy your RMD is by making a qualified charitable distribution (QCD) from your IRA. By donating funds from your IRA to a charity, using a QCD, neither you nor the charity will owe taxes on the withdrawal. Separately, if you itemize your taxes, consider a year-end gift to further increase your tax deduction.
On behalf of your PWA team,
Brock Hedgecoke, CFP®
Financial Advisor