JTAM Named on CNBC Top 100 Financial Advisors List

We’re proud to announce that JTAM has again made the CNBC Top 100 Financial Advisors list. We moved up 13 spots to #75 in the 2023 rankings. The CNBC list is based on a variety of core data points from data provider AccuPoint Solutions’ database. Registered Investment Advisors (RIAs) were analyzed based on the firm’s compliance record and years in business to total accounts and assets under management. Link to article:  https://www.cnbc.com/2023/09/12/fa-100-cnbc-ranks-the-top-rated-financial-advisory-firms-of-2023.html

Click here to view disclosures regarding selection criteria.

Am I Going to be Okay?

I’m fortunate to be one of many in this country who had a child that graduated this year. While my daughter received her master’s degree, other children have graduated from college, high school and even kindergarten. As parents (and grandparents), we look at these graduates with pride and excitement.  And though the circumstances are different for each child and level of education, there is a common thread among all of us as we consider the future for our children. In the end, we just want all of them to be “okay.”  “Okay” means different things for each graduate. For the kindergarten graduate, okay likely means that we hope they are off to a good start in their education, are having fun and making lots of friends. For high school graduates, we hope that they are attending the college that they will love or finding a career path that excites them and are looking forward to the possibilities of new relationships. For college graduates, we are hopeful for a great job, a fulfilling career, continued relationships with friends and possibly marriage and a family.

When we work with clients, the hopes are different, but the question is the same. The people we work with express a wide variety of concerns … “Am I ready to retire?”; “How is this crazy economy affecting me?”; “What should I do when the next geopolitical event emerges?”.  No matter the concern, each person is asking a different version of the same question: “Am I going to be okay?”. Our job is to answer that question – whether it be through our planning software, our words of reassurance or a review of account performance – we are answering that same question day in and day out with most clients.

Through it all, we are keen to realize that the meaning of “okay” – and how to you achieve it – is different for each person. I’ve been fortunate to have worked with a number of prospects who have become clients recently. Throughout the process, I told them that I could give them a perfect investment plan and it would not necessarily be right for them, because it would have lacked their input and commitment. My plan would have resulted in me knowing they were “okay,” but they might not have felt the same. That’s why we go through the painstaking effort of discovery meetings and planning meetings and periodic check in meetings. It’s our way of helping clients find the answer to their own “Am I going to be okay?”.

Are you an investor who wants to know if you will be okay? If so, reach out to one of our advisors so we can help you find the answer. We love to help and know how to get you there.

Written by: Shaw Pritchett, CPA/Advisor

SECURE 2.0 Act of 2022: The New Law Has Something for Everyone for Retirement

The SECURE 2.0 Act is now law. Some of the changes made will be effective immediately, while other changes will take effect in 2024 or beyond. SECURE 2.0 included a wide range of changes to retirement provisions designed to increase retirement savings. Below is a summary of items that are most likely to affect pre-retirees, retirees and employer-sponsored retirement plans:

  • The Required Minimum Distribution (RMD) age increases to age 73 in 2023 and to age 75 in 2033.
  • The penalty for failing to take an RMD will decrease to 25% from 50%, even 10% if corrected timely.
  • RMDs will no longer be required from Roth accounts in employer-sponsored retirement plans in 2024.
  • Beginning in 2024, if your wages in the previous year were over $145,000, catch-up contributions to 401(k), 403(b) and similar plans must be made to a Roth account.
  • Emergency savings account options for defined contribution plans.
  • Employers can match student loan payments in 2024.
  • Employer matching can be designated as Roth contributions.
  • 529 accounts can be transferred to Roth accounts within specific guidelines in 2024.
  • New 401(k) and 403(b) plans are required to have automatic enrollment options.

If you need helping “unpacking” all of the SECURE 2.0 changes that may impact you, please reach out to one of our advisors.

For more details on how the SECURE 2.0 Act affects:

Pre-retirees, click here.

Retirees, click here.

Employer-sponsored plans, click here.

 

Written by: Nancy Brown, CPA, CEBS, GBA, RPA, PPC™

Dimensional Ranked #1 Best Fund Family of 2022 by Barron’s

Barron’s is a highly regarded weekly magazine/newspaper published by Dow Jones & Company. It is a sister publication to the Wall Street Journal. A recent issue announced that Barron’s has ranked Dimensional Fund Advisors (DFA) as its number one fund family for 2022. Dimensional was also highly ranked in 2021, the last 5 years and the last 10 years.

This ranking is certainly gratifying to us at Jackson Thornton Asset Management as we look back 23 years to the time when we selected DFA as the primary source of mutual funds for constructing investment portfolios for clients. Many aspects of DFA’s approach to investing led to our selection. Click here to read Dimensional’s announcement.