December extended the growth in stock prices to close markets up 28-30% for 2019. Mutual fund prices are lowered in December with the annual distributions they pay out. With a contentious election year ahead and unrest threatening many parts of the world, the coming year may be rocky for investments as well as day to day living.
Congress passed the SECURE Act in December and it will immediately affect those clients who have not yet turned 70-1/2. Required Minimum Distributions from retirement accounts for those individuals will not begin until age 72. This will not affect those already receiving RMD amounts from IRAs. There are a number of other changes under this Act that Stacie will go over with you when you meet, when the changes apply to your situation and planning.
Opening a new decade as well as a new year, changes rush in. For the young opening a new decade is awesome. For those who have opened a century and a millennium, a decade is still a significant chunk of our life experience, a timeframe we can tuck into our lives. This new year lifts a burden for me and the joy in having worked with you carries me forward. You are dear friends from decades and your challenges and joys and successes will always be part of my life. Our time together is my takeaway treasure.