Planned Solutions

In this episode of the Planned Solutions Incorporated Podcast, the US tax system is complex with many moving pieces that can lead to tax surprises. Changes in income, deductions, credits, or tax withholding can all lead to a taxpayer owing more tax than expected. Some of these changes can be anticipated by taxpayers so that they can plan to increase their tax withholding, make estimated payments, or at least make sure to have the money set aside to pay the tax due at tax time. Also, The latest inflation report revealed that several repeat offenders' categories continued to be sources of inflation, especially shelter prices. However, several smaller sources of inflation have been less obvious including auto insurance, food away from home, hospital services, and motor vehicle maintenance and repair. As well, The Personal Residence Exemption (Section 121) is one of the largest tax breaks in the tax code. It allows an individual to exclude up to $250,000 ($500,000 for a married couple where both spouses qualify) of gain from taxation on the sale of a primary residence. To qualify an individual must have owned and lived in the home as their primary residence for two of the prior five years from the date the sale of the home closes. Plus a look at the Planned Solutions Incorporated Office Bulletin Board - Tax returns are due April 15th this year, giving us a little less than a month to get those returns filed. However, for those who will not be able to get all of their documents together in time, there is the option to file for a tax extension which allows the tax returns to be filed at any time before October 15th A common misconception is that a tax extension is an extension of time to both file tax returns and pay any tax that is due. This is not the case. Any tax payments that are due for 2023 are still due on April 15th, even if the tax return is put on extension and filed later in the year. Therefore, even if a taxpayer files for an extension they must get as much of their tax return done as possible so they can estimate the amount of their refund or tax due as accurately as possible. If there is likely to be some tax due, they will need to make a payment with their request for an extension of time to file. Even if an extension is filed, a failure to pay any tax due by the April 15th deadline may result in late payment penalties as well as interest charged on the amount due. These additional costs can add up, especially now that interest rates are elevated making it more important than ever to accurately estimate the amount due before filing for an extension. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, In a real-life case study, we explore just one way that a financial advisor can use strategic timing along with the integration of investment and tax planning to increase the long-term financial benefits from a savings and investing strategy. Here we explore the intersection of long-term investing (the compounding of returns), counterintuitive tax strategies (tax-gain harvesting), and estate planning an efficient transfer of wealth to the next generation. Also, Earnings for the S&P 500 companies increased by 21.7% year-over-year in the fourth quarter. Most companies beat their earnings expectations and analysts predict that earnings will continue to climb in 2024. However, the pace of earnings growth has slowed recently with earnings still more than 10% below the high from the fourth quarter 2021. And, Higher interest income has led to an increase in income tax for taxpayers who have a significant balance in savings or money market accounts. This occurs because interest income typically does not have income taxes withheld unless the taxpayer is subject to backup withholding. For some this may necessitate more detailed tax planning to create a plan to pay the tax due on interest income in order to avoid a large tax bill at tax time and the potential for an underpayment penalty. Plus a look at the Planned Solutions Incorporated Office Bulletin Board - There is a new method that scammers are using to steal personal information online: SearchEngine Optimization (SEO) scams. In this case, scammers are using fake websites that imitate the websites of trusted financial institutions and then use Search Engine Optimization to make their fake website appear near the top of online search results, making it seem like it is the legitimate website. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, Interest rates are often referred to generically when referencing the Federal Funds Rate (the overnight lending rate between banks that the Federal Reserve manages). However, many interest rates are impacted by the term of a loan and the risk that the loan will not be paid back. To fully understand the bond market investors must understand the implications of the interest rate curve (interest rates paid for different terms) and interest rate spreads. Also, Health Savings Accounts (HSAs) can be useful financial planning tools for those who have a high-deductible health insurance plan and therefore qualify to make contributions. However, like other similar plans, HSAs have contribution limits that must be monitored to make sure the limits are not exceeded. Otherwise, an excise tax on over-contributions may apply. And, 529 educational savings plans are often thought of as just that, an education savings vehicle. However, due to some of the peculiar rules around 529 plans, they can also be a good estate planning vehicle for high-income and high-wealth individuals. A 529 plan allows the owner to control the funds for the benefit of a beneficiary. At the same time, the funds are considered to be a completed gift and are therefore outside of the owner's estate for income and estate tax purposes. Plus a look at the Planned Solutions Incorporated Office Bulletin Board - Schwab recently released the form 1099-Div and 1099-B for non-retirement accounts. These are often the last forms that are released and thus can hold up tax filing. However, it appears that this year's forms were released reasonably early. If you need your forms and have not yet received them, you can access them online or call our office and we will send them to you via a secure e-mail link. Tax return information has been coming in early this year and we are very appreciative of those who have tackled the gathering of the tax information early. Tax season is only so long and from a tax preparer's standpoint, it is much less stressful when the work comes in early so it can be spread over as many days and weeks as possible. Every tax preparer loses sleep over the fear that all of their tax clients will wait until late in the season to send in their tax documents creating a deluge of work with little time to complete it. So, thanks to all of you who have started early this year. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The IRS charitable contribution rules are complex. The rules differ depending on the type of property donated (cash, check, credit card, or in-kind), the amount donated, the taxpayer's income or other tax deductions, whether the taxpayer receives goods or services in return for the donation, and how the donations are made. Therefore, taxpayers need to plan their charitable contributions if they are seeking a tax benefit. Also, The Federal Reserve is sending mixed messages to investors and some Fed Governors advocate a proactive approach to lowering short-term interest rates in anticipation of lower inflation rates. While others warn investors that interest rate cuts may not come as soon as they expect and may not be as aggressive as the financial markets are predicting And, Many employers offer retirement plan matching funds as an employee benefit and to encourage employees to save for their retirement. However, employees who cannot afford to fund their retirement plans do not benefit from these matching funds. So, starting in 2024, the law was expanded to allow employers to pay employees matching funds on student loan payments made by the employee during the tax year. Plus a look at the Planned Solutions Incorporated Office Bulletin Board - On January 31st the US House of Representatives passed a new tax bill that will make retroactive changes to the tax code that would apply to the 2023 tax year. Even though the IRS pleads with Congress not to make any last-minute tax law changes, which the IRS defines as tax law changes after December 1st of the tax year, Congress may be ignoring them and making changes to the prior year tax laws after tax season has already started. So, what does this mean for taxpayers? Currently, we don't know. Any changes in the tax law will need to pass the Senate and be signed into law by the President, so we still don't know if these tax law changes will be implemented. In addition, should the changes become law they will only impact certain taxpayers. Specifically, the biggest changes will be to the Child Tax Credit and the ability for businesses to expense Research and Development (R&D) costs. Therefore, taxpayers who may be impacted by these changes may benefit from delaying their tax filing to see what, if any, changes are made to the law. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, Mortgage rates have declined recently from very high levels. This has caused some homeowners who purchased a new home last year during the higher interest rate environment to consider refinancing their mortgage to capture the lower rates. While mortgage interest rates are a big factor in determining whether it makes sense to refinance a mortgage other factors should be considered as well. Also, US Consumer Sentiment surged to end 2023 as yet another positive sign that US consumers will continue to support US economic growth. Consumer Sentiment is an inverse indicator meaning that investors often want to buy when it is low and reduce risk when it is high. Now, the Consumer Sentiment is no longer at bargain price levels but still is well below its peak from past economic and market cycles. And, 529 educational savings plans now offer several options for plan owners who have funds left over after higher education expenses for the beneficiary are paid. These include transferring the funds to another beneficiary, using the money to fund a Roth IRA for the beneficiary, or using the money to pay off up to $10,000 in student loans for the beneficiary and/or their siblings. Plus a look at the Planned Solutions Incorporated Office Bulletin Board - The Internal Revenue Service announced that Monday, January 29, 2024, will be the beginning of the 2024 tax season (the day when tax returns may be submitted and processed for the 2023 tax year.) In addition, the deadline to file personal tax returns this year will be on Monday, April 15th, 2024, unlike past years when the deadline was extended by a few days to accommodate a holiday recognized by the District of Columbia. This is the date to file a return or apply for an extension to October 16th to file returns. However, any tax owed is due by the April 15th deadline. As always, if you have any questions about investment tax forms or the forms that will be needed to prepare your tax returns in general, feel free to give us a call or send an e-mail so we can make sure you file a complete and accurate tax return. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The Magnificent Seven (the seven most valuable companies included in the S&P 500 index) increased in value by 75% in 2023, whereas the remaining 493 stocks in the index increased by 12%. This has captured the attention of investors and the financial press. However, what is often ignored is the large losses these stocks reported in 2022. In fact, over two years these seven stocks have had an overall performance very similar to the S&P 500 index as a whole. Also, The US stock market dipped to start 2024. However, the decline was just a small fraction of the gains realized over the final two months of 2023. In addition, the dip may just be the result of the normal ups and downs of the market, investment risk management activities, or tax planning. And, The new electric vehicle tax credits offer taxpayers up to $7,500 in tax savings. However, this credit is very complicated when it comes to determining which vehicles will qualify for the credit. In addition, there are new income limitations that will exclude certain high-income taxpayers from qualifying for the tax credit. Finally, in some cases, the credit may be assigned to the dealer in exchange for a lower price to allow taxpayers to benefit at the time of purchase rather than waiting until tax time. Plus a look at the Planned Solutions Incorporated Office Bulletin Board - Before preparing your 2023 income tax return(s) it is important to make sure that you have all tax forms and other tax information that you need. In some cases, this may mean being patient until all your investment forms have been issued. In other cases, it may mean being careful to thoroughly go through your mail looking for tax forms. For example, mortgage companies often send out Form 1098, which reports the interest paid during the year, with the monthly mortgage statement. So, it is important to sort through all the pages in the mailing to see if your tax forms were included with the most recent statement. Also, more and more companies are posting tax forms online rather than mailing them. Our tax organizer, or your tax return from the previous year, may be used to compare the information that was reported in the prior year with the tax forms that have been received to see if anything is missing. As always, if you have any questions about investment tax forms or the forms that will be needed to prepare your tax returns in general, feel free to give us a call or send an e-mail so we can make sure you file a complete and accurate tax return. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, There is a discrepancy between the official government price data for shelter (rents) and the data reported by multiple private data providers. The US government numbers show rents increasing 6.5% over the past year while private data reports a 2.1% decrease in rents. Many economists and investors believe the private data to be more accurate and up to date causing them to price in a sharp decrease in inflation in the next three to six months. Also, Early signs show that consumers continued to increase their spending during the holiday season, albeit at a slower pace than the prior year. This is a good sign for the economy as consumer spending represents approximately 70% of US economic output. However, there are indications that US consumers are becoming more price-conscious. And, The IRS has announced that it will not enforce penalties on owners of inherited IRAs that fail to take Required Minimum Distributions (RMDs) in 2023. However, the IRS will still require that the RMD amount be distributed even if it is done in the following year which can create some tax planning challenges. Therefore, owners of an inherited IRA may still benefit from taking taxable income from the account in 2023 to reduce their overall tax burden. Plus a look at the Planned Solutions Incorporated Office Bulletin Board - The New Year is a great time to set or update goals including financial goals. When making financial goals it is best to set SMART goals. These are the goals that are: Specific (S) – Instead of making general or broad goals be specific about what you want to achieve. Measurable (M) – Determine how you will measure the goal and know whether or not you have achieved it ahead of time. Achievable (A) – Make sure your goals are realistic taking into account real-life challenges and constraints. Achievable goals can be motivating. Unachievable goals can be demotivating. Relevant (R) – Make sure your goals will put you on track for success. Ask yourself: Will the achievement of these goals lead to the desired result? Time-Bound (T) – Make sure to give each goal a deadline as to when you want to achieve your objective. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The federal tax code offers several tax credits for the purchase and/or installation of energy-efficient property. These credits generally fall into three categories: Residential Clean Energy Credits (credits for clean energy generation), Clean Energy and Vehicle Credits (credits for buying electric or fuel cell vehicles), and Energy Efficient Home Improvement Credits (credits for improving the energy efficiency of home heating or cooling). Also, The S&P 500 has rallied recently and is now at a new high for the year. The index needs to increase less than 5% to reach a new all-time high. However, several other market indexes have further to go to achieve a full recovery. Yet the overall market momentum has been positive causing some to speculate that a full market recovery may be just around the corner. And, The amount that can be contributed to a Health Savings Account will increase in 2024. To contribute to a Health Savings Account an individual must be enrolled in a Health Savings Account (HSA) eligible High Deductible Health Plan which typically have a lower cost but require the insured to contribute more toward the cost of their care, up to a certain limit. However, money saved in an HSA can be used to pay these higher costs tax-free. Plus a look at the Planned Solutions Incorporated Office Bulletin Board - As we near the end of the year we have been busy making sure all Required Minimum Distributions (RMDs) are processed before the deadline. In addition, we have been reviewing taxable investment accounts to see if there are any opportunities for tax loss harvesting or other tax strategies that could save taxes on upcoming 2023 income tax returns. We are currently in the process of getting our tax software set up for the upcoming 2023 tax filing season. We will be sending out our annual tax packets at the beginning of January. This year we plan to send the tax packet digitally to save on paper and postage costs. However, if you prefer to receive a paper tax packet in the mail, please give us a call or send us an e-mail and we will be happy to mail the information in addition to sending it digitally. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, As the last several months have demonstrated, the future path of interest rates is unknown. However, the expected path of interest rates can be discerned by examining the futures markets where investor thinking is reflected in prices and expectations for rate changes. Currently, the market is predicting that the current interest rate cycle has peaked and the Federal Reserve will start to lower interest rates by May 2024. Also, The federal standard deduction for income taxes will increase for all tax filers in 2024. However, many of the itemized deductions may have also increased due to increased mortgage rates and property taxes. Therefore, it is important for taxpayers to review their filing options, especially when it comes to state taxes, which often have a lower standard deduction than the federal level. Plus, The amount that an individual can gift to another individual in a given tax year without owing gift taxes, or being required to file a gift tax return, will increase from $17,000 to $18,000 in 2024. In some cases, gifting can be an important part of a long-term estate planning strategy. In addition, it is important to plan any gifts carefully to make sure they do not put retirement planning goals at risk and are structured properly to reduce any costs and tax filing obligations. Plus a look at the Planned Solutions Incorporated Office Bulletin Board - With the holidays quickly approaching, we want to make sure you are aware of our holiday schedule for this year. December 25th 2023 Closed January 1st 2024 Closed Given the above holiday schedule, as well as the holiday schedule of many of the companies that we work with, we ask that any forms or other requests that must be completed before year-end be submitted as soon as possible. If any paperwork or requests come in close to the end of the year, we will use our best efforts to process the forms or fulfill the requests but cannot guarantee that it will be completed in time due to factors beyond our control. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The official inflation rate ticked down to 3.2%, the same level as the July report, and the lowest inflation rate in several years. All the major categories, including food, energy, and shelter declined over the past twelve months creating hope that inflation will now continue its downward trend that started over a year ago. This is also positive news for the Federal Reserve which now may be able to hold interest rates steady next meeting. Also, The Social Security Administration announced good news for people collecting benefits and bad news for some people still paying into the system. The good news is that the Social Security benefit will increase by 3.2% in 2024. The bad news is that the wage limit which is subject to Social Security taxes on earned income will increase by 5.24% in 2024. Plus, In the past, the Free Application for Federal Student Aid (FAFSA) used a parent or guardian's gross wage income to determine a student's eligibility for federal financial aid. Now, the FAFSA will use taxable income, which is the income after any tax-deferred retirement contributions are subtracted from the gross income. This will provide some flexibility in planning for retirement and education funding going forward. Plus a look at the Planned Solutions Incorporated Office Bulletin Board - the annual contribution limit for employees who participate in 401k, 403b, and 457 type plans will increase to $23,000 in 2024, which is a $500 increase from 2023. In addition, the catch-up provision that employees aged 50 and over can contribute will be an additional $7,500 (no change from the prior year), bringing the total employee deferrals to $30,500 for 2024. The limit on annual contributions to an IRA or ROTH IRA will increase to $7,000 in 2024, up from $6,500 in 2023. The catch-up contribution for those aged 50 and older remains the same at $1,000, bringing the total to $8,000. Limits on other small business retirement plans have also increased along with the income phase-outs for ROTH IRA eligibility. With the larger increases coming in 2024, especially with the ROTH IRA eligibility, taxpayers may want to review their overall finances to determine if they need to make any adjustments, including increasing their salary deferrals or incorporating direct ROTH contributions, if they are eligible based on the higher income thresholds. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The US Treasury is becoming a larger and larger focus of Wall Street as the US Government has been borrowing very large amounts from the private sector. With the current large federal deficit, the need to roll over short-term borrowing, higher interest rate costs, and reduced lending from foreign entities have caused the US Government to borrow more and more from the domestic markets. This creates a risk that there will be too little debt available to fund the private sector. Also, When an employee leaves their employer, they often have the option to keep their money invested in the employer's retirement plan. However, employees with small balances may be “forced out” of the plan by having their money transferred to an IRA. The definition of a small balance will be increasing from $5,000 currently to $7,000 in 2024 making it so the “force out” may impact more employees in the future. Plus, Credit cards can be a valuable tool for processing payments while earning rewards. However, the negative side of credit cards comes when balances accumulate and are rolled over from month to month resulting in high-interest charges. Therefore, it is important to have a plan to limit the impact of credit card debt as quickly as possible. This includes finding the reason the debt accumulated in the first place and taking action to reduce the likelihood that it will continue. Plus a look at the Planned Solutions Incorporated Office Bulletin Board - Chase and Daryl recently attended the Financial Planning Association of Northern California's Fall Symposium. The event was held at California State University, Sacramento in an effort to engage with students working toward a degree in Financial Planning. Planned Solutions sponsored a golf tournament supporting the Assistance League of Sacramento. The Sacramento Chapter is one of 120 Assistance League chapters nationwide in which volunteers work to improve their local communities. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, Trend following is often used by investors in an attempt to profit by predicting market price trends. The effectiveness of this is unproven at best. However, trend following may be used as an effective risk management tool by highlighting time periods when investors may benefit from reducing investment risk or investing more cautiously during periods of heightened market risk. Also, the likelihood of a recession in the US appears to be decreasing. The Weekly Economic Index (WEI) has been increasing, signaling a higher rate of economic growth in the future rather than a decline in growth. In addition, the yield curve has flattened signaling slow economic growth ahead rather than a decrease in economic activity. Also, Subscriptions have become a popular way for businesses to charge for their products or services. Businesses prefer this pricing method because it can create a more stable and consistent cash flow and, once signed up, consumers often overlook the expenses even if they are not getting the value they expected from the arrangement. Therefore, it is important to do a periodic audit of subscriptions to eliminate or reduce the cost of those that are no longer needed or are not fully utilized. Plus a look at the Planned Solutions Incorporated Office Bulletin Board-We give an update on the Harlan D. Wood and Debbie Druivenga Memorial Cancer Charity Golf Tournament was once again a big success. We would like to thank everyone who supported the event this year and in years past by attending the tournament, bidding on auction items, and contributing to cancer charities. We look forward to next year when hopefully we will be able to continue to grow the tournament and the donations raised for cancer charities. Just in case this tax season was not crazy enough, the IRS and Franchise Tax Board (California tax authority) announced on October 16th, the day taxes were due to be filed, that the deadline has been extended to November 16th for people living in the California counties included in the federal disaster declaration. So, the tax season that never ends will continue for one more month. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, Interest rates have increased sharply in the past 18 months as the Fed attempts to slow the economy and bring inflation down to its 2% target. However, several areas of the economy have reacted in unusual ways as the job market has remained strong and single-family home prices remain elevated, while commercial real estate prices have dropped. In addition, the level of household debt, commercial business debt, and even government debt have all increased despite higher interest rates. Also, The interest rate applied to tax balances that were not paid within the quarter that the income was earned was 7% for the third quarter and increased to 8% for the fourth quarter. These high interest rates may lead to substantial tax underpayment penalties for taxpayers who do not monitor their taxable income and tax withholdings during the year, making it more important to engage in tax planning during the tax year Also, Collectibles can be an attractive investment opportunity for those who enjoy collecting items that may appreciate in value and have the time to invest in becoming an expert in the field. However, investing in collectibles comes with its own risks such as the risk that the collectible items will be lost or destroyed. In addition, when a collectible is sold at again, the tax code applies a higher tax rate to the gain than it does for other investments that are sold after they appreciate in value. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Our Podcast moderator, Jason LaChance, has a day job working for a non-profit called Parents and Addicts in Need (PAIN) located in Fresno, California. This organization focuses on providing support to their community in the areas of addiction recovery by providing resources to both addicts and their families. It goes without says that this is important work given the impact that drug overdoses are having in communities across America. PAIN is largely funded through individual donations. On Friday, October 13th they will be hosting their big annual fundraiser, the Oh So Thankful Dinner & Fundraiser, in Fresno, CA. However, most of their funding comes from individual donations, not necessarily from those who can attend the event. We understand that everyone has a limited budget when it comes to charitable giving but if helping to fund addiction and recovery services is on your list of charitable causes, we would strongly recommend considering PAIN: https://painnonprofit.org/. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The annual inflation rate ticked up to 3.7% in August which is a 0.5% increase from the 3.2% in July and up 0.7% from the 3.0% reading in June. The primary cause of the increase in prices in August was that energy deflation appeared to be subsiding while shelter prices declined but at too slow of a rate to offset the monthly increase in energy prices. In total, the inflation report is a mixed bag with some positive signs for the future but also some areas that should raise some concern that inflation may be more stubborn than expected. Also, The Personal Residence Exemption allows a taxpayer to exclude up to $250,000 of gain on the sale of their personal residence. A married couple may combine their exemptions to exclude a total of $500,000 in gain. However, there are several requirements that must be met to benefit from this generous tax provision. In addition, in limited cases, a taxpayer may qualify for a partial exemption even if the requirements are not met. As well, At its core, Social Security benefits are fairly straightforward for workers who pay into the system and meet the requirements to claim retirement benefits. However, there are several additional provisions that may impact the benefits that spouses or dependents may be eligible to claim on a worker's record. Therefore, it is important to explore the different options and claiming strategies before filing for Social Security benefits. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- This is an update/correction to our previous newsletter: Workers aged 50 and over earning more than $145,000 now have two more years to continue making pre-tax Catch-Up Contributions to their 401k type plans. Prior to the latest IRS announcement, The Secure Act 2.0 mandated everyone Aged 50 and over to have Catch-Up Contributions directed to a ROTH post-tax account effective January 2024 for higher earners. This created not only an administrative burden at the plan level but also could have created adverse tax implications for each participant. This two-year delay allows plans and participants to make the necessary adjustments so that they can comply with the new rules and also engage in tax planning strategies. It is official, We recently sent out the registration forms for our annual charity golf tournament. We are busy ordering the giveaways for the tournament and gathering donations for the silent auction. We hope you will be able to attend (either golf or attend the dinner) or donate to a cancer charity to support our efforts. The Planned Solutions Cancer Memorial Charity Golf Tournament Date: October 13, 2023 Location: Rancho Murieta Country Club – North Course 7000 Alameda Drive Rancho Murieta, CA 95683 Time: 1:00 pm shotgun start, 5:30 pm dinner All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, Student loan payments and interest charges are set to start once again on September 1st. However, the new SAVE Plan has expanded the rules for income-based student loan payments to reduce the payment amount for many borrowers. The definition of low-income borrowers has been expanded so more borrowers will qualify for zero payments under the new plan. In addition, those with income over the zero-payment threshold will be required to pay just 5% of their income rather than the 10% required previously. Also, Utility stocks used to be considered low-risk investments that offered good income yields. However, times have changed, and many utility stocks face elevated risks due to high debt ratios and increased legal risks while the dividend yields have not kept pace with rising bond yields. This makes utilities a risker investment category that should be analyzed carefully before investing. As well, In the past, employer-sponsored retirement plans only offered one option: tax-deducible traditional contributions. However, the ROTH provisions that were previously only allowed for ROTH IRAs were expanded to some employer-sponsored retirement plans, such as 457s/401ks/403bs several years ago. Now, the ROTH contribution option has been further expanded to employer-sponsored retirement plans designed for small businesses. This creates the option to add a ROTH provision to SIMPLE IRAs and SEP-IRAs. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- It is official, We recently sent out the registration forms for our annual charity golf tournament. We are busy ordering the giveaways for the tournament and gathering donations for the silent auction. We hope you will be able to attend (either golf or attend the dinner) or donate to a cancer charity to support our efforts. The Planned Solutions Cancer Memorial Charity Golf Tournament Date: October 13, 2023 Location: Rancho Murieta Country Club – North Course 7000 Alameda Drive Rancho Murieta, CA 95683 Time: 1:00 pm shotgun start, 5:30 pm dinner All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, Central banks have increased interest rates around the globe in an effort to bring down inflation. Now the Federal Reserve may be at the end, or getting close to the end, of its interest rate hiking cycle. However, the impact of higher long-term interest rates is not fully reflected in the financial or economic data, which will only occur when low-interest rate debt must be paid off or rolled over at higher interest rates. This impact will depend on debt management at the business and household level and the future path of interest rates. Also, Long-term interest rates have moved up recently as investors fear that large government deficits will require significant borrowing in the coming months. When government borrowing increases it often pushes up interest rates as the government must offer to pay higher rates to attract the funds it needs to borrow. This can also push out private borrowers as they are unable to compete with the government for funds or are unable to match the high-interest rates that the government will pay. New rules take effect in 2024 that will impact high-income earners who are age 50 or older and making catch-up retirement contributions. Effective January 1st, people who earned more than $145,000 in the prior year will be required to make retirement catch-up contributions to a Roth 401k. This may be an issue if the employer 401k does not offer a Roth option as it would disallow the catch-up contributions. In addition, Roth contributions are not tax deductible so it could lead to an increased tax bill. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- The Financial Crimes Enforcement Network (FinCEN) recently issued a nationwide alert regarding a surge in check fraud schemes targeting the US. Check fraud has increased by 84% so far in 2023 despite a decrease in check usage. In many cases, checks are stolen from the US mail and are altered to change the dollar amount and the recipient. It is official, We recently sent out the registration forms for our annual charity golf tournament. We are busy ordering the giveaways for the tournament and gathering donations for the silent auction. We hope you will be able to attend (either golf or attend the dinner) or donate to a cancer charity to support our efforts. The Planned Solutions Cancer Memorial Charity Golf Tournament Date: October 13, 2023 Location: Rancho Murieta Country Club – North Course 7000 Alameda Drive Rancho Murieta, CA 95683 Time: 1:00 pm shotgun start, 5:30 pm dinner All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, There are a wide variety of employee benefits offered by different employers. In many cases, the value of these benefits may add up to a large percentage of the employee's overall compensation. Therefore, it is important to review these benefits as well as their tax benefits or consequences to extract as much value as possible to help fund financial planning goals. Also, In the past, distributions from a 529 plan that were owned by someone other than the student's parent were considered income of the student for federal financial aid purposes. In many cases, this could reduce or eliminate the student's eligibility for federal financial aid. Fortunately, starting in the 2024-2025 school year this rule will be changed so that distributions from a 529 plan owned by a relative other than a parent will not have an adverse impact. And, High demand for travel abroad has created delays in the processing of new US passport applications. Under normal circumstances, a new application should be processed in 10-13 weeks. However, many are finding that it could take much longer and even expedited applications are taking nearly three months. Therefore, it is important to plan ahead when making travel plans if a new passport will be required. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- The stock market has posted strong gains in the first half of 2023. However, the gains have been lumpy in that some areas of the stock market have done very well, while others have lagged the overall market average. When this happens the areas of the market that outperform often become a larger percentage of an account's value than was originally designed or desired. Therefore, it is important to rebalance these accounts periodically to bring the allocation percentages back in-line with the target. For example, if a 401k plan investment performance has been uneven this year, with growth stocks increasing at a faster pace than value stocks, it may be a good time to rebalance the holdings by taking profits in growth stocks and allocating the proceeds to value stocks. It is official, we recently sent out the registration forms for our annual charity golf tournament. We are busy ordering the giveaways for the tournament and gathering donations for the silent auction. We hope you will be able to attend (either golf or attend the dinner) or donate to a cancer charity to support our efforts. The Planned Solutions Cancer Memorial Charity Golf Tournament Date: October 13, 2023 Location: Rancho Murieta Country Club – North Course 7000 Alameda Drive Rancho Murieta, CA 95683 Time: 1:00pm shotgun start, 5:30pm dinner All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The rate of inflation declined by two-thirds from a year ago when it peaked at 9.1%. The June inflation rate was just 3.0%, a 1.0% decline from May. The decrease in prices was led by a large drop in energy prices, while food and shelter inflation remained persistently high. However, the average inflation rate for many households that own their home, and therefore are insulated from the increase in shelter prices, is likely below the Federal Reserve's target of 2.0%. Also, A new rule takes effect in 2024 that will allow unused funds in a 529 college savings plan to be transferred to a Roth IRA in the name of the 529 plan beneficiary. This is a great opportunity for college savers who do not use the funds in a 529 plan to fund college expenses or have funds left over after college. However, there are a number of detailed provisions in the law that must be followed in order to qualify for the transfer. And, This is expected to be the biggest travel season in years. As a result, travelers are dealing with larger crowds, limited lodging, and dining options, and increased add-on fees. Many of these fees are an attempt by hotels and restaurants to keep their list prices low to compete with other options while still boosting revenues with additional costs. Therefore, it is important to read the fine print and understand the extra fees that may apply when making travel plans this summer. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- It is official, we recently sent out the registration forms for our annual charity golf tournament. We are busy ordering the giveaways for the tournament and gathering donations for the silent auction. We hope you will be able to attend (either golf or attend the dinner) or donate to a cancer charity to support our efforts. The Planned Solutions Cancer Memorial Charity Golf Tournament Date: October 13, 2023 Location: Rancho Murieta Country Club – North Course 7000 Alameda Drive Rancho Murieta, CA 95683 Time: 1:00pm shotgun start, 5:30pm dinner All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The yield curve is currently inverted meaning short-term term deposits are paying a higher interest rate than longer-term deposits. So, why would savers commit to longer-term deposits at a lower interest rate? It all comes down to the expectation for the future path of interest rates. If rates are expected to fall in the future it may be better to lock in longer-term rates today rather than roll over short-term deposits which may pay more today but could pay lower interest in the future. Also, A year ago, Series I Savings Bonds with no fixed rate and a high inflation rate were popular investments. Since then, the inflation rate on these bonds has declined sharply while newer bonds are now paying a fixed rate in addition to the inflation rate. So over the long term, the bonds purchased when inflation rates were high will likely yield less than the bonds issued before and after the frenzy will likely offer higher returns. And, Medicare premiums are means-tested meaning higher-income individuals may pay higher Medicare premiums. This is called the Income Related Monthly Adjustment Amount (IRMAA) which is based on the income from two years prior to the current year. However, if an individual had a qualifying life-changing event that caused their income to change may petition the Social Security Admin to have their IRMAA amount reduced based on their change in income. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- As a result of the storms that hit California earlier this year, most counties in California were designated federally declared disaster areas. As a result, most CA residents were granted an automatic extension to file and pay their 2022 tax returns and balances through October 16, 2023. However, many taxpayers who have elected to take advantage of this extension have received past-due notices from the IRS. The problem is that the IRS computer system was not updated to reflect the extension, so the IRA has automatically mailed notices of balances due including to individuals who were eligible for the automatic extension. However, the IRS has reassured California taxpayers covered by the disaster declaration that they continue to have an automatic extension until later this year to file and pay their taxes. So if you intend to pay your taxes owed in October but get an IRS notice to pay the balance due now you can disregard the notice and delay your payment to later in the year as long as it is paid by October 16th Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The S& P 500 earnings season is right around the corner. This could be a key earnings season for the stock market following the sharp rebound in earnings reported in the first quarter. Should earnings continue to rebound, and possibly exceed their peak from the fourth quarter of 2021, it may support the stock market rally that began in October 2021. The key sectors will likely be financials and technology given their large contributions to S& P 500 earnings. Also, All money market accounts are not equivalent to each other. This is especially true when comparing bank money market deposit accounts with investment money market funds. For example, bank money market accounts are typically FDIC insured whereas investment money market funds are not. This does create an additional risk that savers should be aware of when choosing where to hold their savings. And, Higher mortgage rates have made homeownership less affordable in the US. However, despite a 66% increase in mortgage rates and a 33% increase in the mortgage payment required for the median home, the increase only represents 5% of the median household income. However, the amount of income required to qualify for a mortgage on the median home value has increased by 33% which will make it more difficult for borrowers to qualify for a loan. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- All of us at Planned Solutions would hope you had an enjoyable, safe, and happy Fourth of July holiday as we celebrated the anniversary of the original thirteen colonies' Declaration of Independence from Britain. For those looking to expand their historical knowledge of the American Revolution, we would recommend the book Rebels at Sea, Privateering in the American Revolution. The book highlights the importance of individual investors and private sailors in supporting the revolutionary army and supplying the nation with the goods needed to maintain commerce and limit shortages while the nation's largest cities were under occupation. It shows how so many individuals contributed to the revolution and the importance of economic victories in addition to those won on the battlefield. The book also highlights how many individuals became wealthy through sponsoring privateers during the war and was then an important source of investment funds for economic development and to support the nearly bankrupt Congress after the war ended. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, Summer jobs for teens are often low-level and low paying. However, they can be an important springboard that can be used to start a career on the right track and jumpstart a financial plan. Therefore, it is important to be prepared to take advantage of the career skills and learning opportunities that a part-time job may offer. Also, Oil prices have declined sharply in the past 12 months. After peaking at more than $120 in June 2022, oil prices have since trended downward falling below the $70 price point in June 2023. In addition, it appears that oil prices may continue to decline as suppliers have ramped up production following the pandemic which could possibly return prices to their pre-COVID level of $55 per barrel. And, The US debt ceiling debate is finally over but investors may not even take notice as they were not deceived by the purported danger to begin with. Despite the economic and financial brinks manship, the US stock market remained near its highs for the year and the volatility index(VIX), a common fear gauge, never showed signs of stress. It appears that investors have panic fatigue when it comes to the debt ceiling having been told it would result in a disaster that never materialized too many times in the past. Plus a look at the Planned Solutions Incorporated Office Bulletin Board-It is that time of year again … charity golf tournament season. It is the time of year when we can get outside, enjoy the warm weather, have fun, and support worthwhile causes. With that said we hope you will join us again this year in playing golf and raising money for cancer charities. The Harlan D. Wood Memorial Cancer Charity Golf Tournament is planned again this year. We hope you will sign up to attend or support the cause by donating to a cancer charity of your choice. Date: October 13th, 2023 Location: Rancho Murieta Country Club – South Course 7000 Alameda Drive Rancho Murieta, CA 95683 Time: 9 am shotgun start, 1:30 barbecue All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the BBQ. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, We decided to outsource our lead article to Google Bard this week. Google Bard is Google's Artificial Intelligence Chatbot. We found that the article generated was mostly accurate, although not completely (see notation in the article), which raises concerns about misinformation or false information when relying on artificial intelligence. This highlights the need to audit any information received from these models to ensure their accuracy Also, Taxpayers often focus on income taxes, but there are other types of tax that can be just as important when it comes to tax planning and tax savings. Employment taxes (Social Security and Medicare taxes) can exceed 15% of income when both the employee and employer contributions are considered. Therefore, employment tax planning should not be overlooked when engaging in tax planning. And, The tax code offers several small tax credits for certain energy-efficient home improvements. However, these credits can be complicated in terms of which projects qualify for the tax credits. In addition, there are annual and lifetime limits which differ based on the type of credit. Therefore, it is important to consult with a knowledgeable tax professional to determine the amount of the tax credit and how to meet the requirements for documentation to be able to claim the credit. Plus a look at the Planned Solutions Incorporated Office Bulletin Board-Following the COVID travel restrictions and the economies around the globe reopening, the summer of 2023 is expected to be a record travel season. This also appears to be the case at Planned Solutions. Several members of the Planned Solutions team have planned, or have recently returned from, vacations that are a bit longer than average. Naturally, we have taken steps to make sure that we have sufficient coverage so that the high-quality service levels that we pride ourselves on do not suffer, especially tasks that are time-sensitive or emergency issues. Even when on vacation our team members take steps to be accessible by phone or e-mail in case an emergency arises, or they are needed to offer some insight on an issue. However, time differences and the availability of internet access while traveling can cause some delays in the ability to respond as quickly as normal. Therefore, there may be some cases where some non-time-sensitive issues may be delayed a little bit longer than would be normal. We ask for your patience and understanding. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, Technology stocks have outperformed other sectors by a wide margin so far in 2023, helping to offset the large losses in Technology stocks in 2022. This has caused some investors to allocate a large percentage of their stock portfolios into this single sect or which may result in higher risks than they realize. Instead, investors may be better served by being patient and allowing time for the market breadth (number of shares increasing in value)to improve. Also, Banking turmoil in the US which began in March has continued to negatively impact the US financial system. However, the issues have been fairly contained within the sphere of smaller regional banks. Meanwhile, the Financial Stress Index reported by the Federal Reserve shows that financial stress spiked in March but has since improved sharply. And, One of the key decisions when creating a trust is who should be named as the successor trustee. Often those who set up a trust will appoint a friend or family member to be their successor trustee, but this can create unwanted stress and legal liability for the appointed trustees. Another option is to appoint a professional trustee or a corporate trust office as the trustee. Plus a look at the Planned Solutions Incorporated Office Bulletin Board-Everyone at Planned Solutions recently completed training on how to spot and avoid the financial exploitation of senior clients. Unfortunately, financial crimes against those aged 65 or older have been increasing in the US as criminals find more and more creative ways to try to access the funds of retirees. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The US economy grew just 1.1% in the first quarter, a lower growth rate than the prior two quarters. However, the report had a lot of positives with household spending up 3.7% and government spending increasing 4.7%. Meanwhile, investment expenditures were a drag on growth, down 12.5%, likely due to increased interest rates and the uncertainty of the current business environment. Also, US consumer sentiment is often cited as a leading economic indicator as it tends to change course before the stock market. In 2021 it peaked six months before the US stock market and in 2022 it bottomed four months before the market low. Today, consumer sentiment is signaling support for the current market recovery as the index continues to trend upward at 27% above its low from October And, Term life insurance policies are often very cost-effective but do come with a downside, unlike permanent insurance, that the policy term will end at some point in the future. However, some term policies have features that allow them to be continued, at a higher premium, or converted into a permanent insurance policy, also at a higher premium, for those who need to continue their coverage. However, these provisions are often complex and therefore should be considered carefully before making an election Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Last newsletter we expressed our support for the Sacramento Kings who were in the NBA playoffs for the first time in seventeen years. Since then, the Kings lost in the last game of a best of seven series to the defending champions, the Golden State Warriors. Despite the disappointing result, this was a great season to be a Kings fan. After years near the bottom of the standings, the Kings finished third in the Western Conference regular season standings and had a good showing in the playoffs taking the defending champions down to the wire, only falling short in the final game of the series. As special thanks goes out to the Kings coach, Mike Brown, who not only won NBA Coach of the Year but also demonstrated how a change in leadership and a new culture can transform an organization from mediocrity to excellence. We are looking forward to seeing how Coach Brown and his players are able to build on their recent success next year. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The International Monetary Fund (IMF) has lowered its economic growth forecast in recent weeks but continues to predict positive growth rates for the majority of the globe. However, the expected pace of economic growth around the globe, as well as in the US, is fairly low compared to historical rates. This appears to be a middle ground between predicting a recession and predicting a return to more normal economic growth rates. Also, US inflation has declined for nine consecutive months from a high of 9.1% in June 2022 to just 5.0% in March 2023. Large contributors to the decline in the rate of inflation include food and energy prices, with energy prices turning negative. However, services price inflation remains high supported by shelter prices which now account for nearly half the headline inflation rate. And, Zero percent credit card offers, which allows the cardholder to borrow for a specific term, may be attractive for those looking to make a large purchase or to transfer an existing credit card balance. However, it is important to read the terms of service carefully and have a plan to pay off the balance within the stated period or the strategy could backfire resulting in high interest charges. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- These are exciting times in Sacramento as our premier professional sports franchise, the Sacramento Kings, has made the playoffs for the first time in sixteen years. The reward is that they get to face the defending NBA champions, the Golden State Warriors. However, after two games the Kings now lead the series two games to zero with the series now going back to San Francisco for the next two games. As long-time Kings supporters, all of us at Planned Solutions are excited to have our team in the NBA playoff mix and are thrilled with the positive impact that it is having on our city. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, Picking the right credit card often depends on how a cardholder plans to use the card. For most people who pay off their credit card balances each month the interest rate charged by the credit card should be the last consideration. Instead, it is advisable to weigh the rewards that the credit card offers against the annual cost of the card, such as any annual fees that the card may charge. Also, The number of existing homes sold in February increased 14.5% from the prior months as the Spring buying season appears to be heating up early. Home prices remain resilient, down just 0.2% from the prior year. It appears that declining interest rates have unlocked some demand from potential homebuyers as the level of interest rates, and not prices, have driven home demand in recent months. And, It is common for retirement account owners to list their minor children as beneficiaries of their retirement accounts. However, there can be some drawbacks to this which should be explored before doing so as minors must be assigned a guardian who will oversee the funds until the minor comes of age. Therefore, it is important to think through how the funds will be transferred, managed, and distributed as well as explore other options that may be more in line with the account owner's financial goals. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- This probably goes without saying in this day and age, but don't believe everything that you read, or even watch, online. One of the most common tax mistakes is a result of taxpayers not understanding how the tax withholding system works. To be fair, the tax withholding system in the US in so antiquated that it is extremely confusing as it reflects the US workforce from fifty years ago when one-income households were the norm. During the period of one-income households, the system was straightforward. If an employee was not married, they selected single and if they were married, they selected married. If they selected married the assumption was that their spouse did not work so their income would be spread across the more favorable married tax bracket resulting in less tax, and therefore less tax withholding. However, today where two-income households are more common this can create problems. If both spouses select married, they will have less income tax withheld based on the assumption that their spouse does not work, which is incorrect in this case. Therefore, married taxpayers in two-income households should select single, or married but withhold at the higher single tax rate if that option is available. This is counterintuitive as it requires that a married taxpayer select single on their tax withholding election, but unfortunately, that is how the system is set up. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The recent bank run that caused three large banks to fail in the US this year is a classic case of a Prisoner's Dilemma. A Prisoner's Dilemma is a game theory concept that illustrates how the optimal strategy for participants may lead to a less-than-optimal outcome that leaves all involved worse off. Fortunately, the Federal Reserve in the US was created to be a lender of last resort to stop bank runs from spreading and impacting other institutions Also, The recent bank run in the US has caused two banks to fail and a third is under tremendous stress. A review of these banks shows that they were outliers in terms of poor risk management on their reserves as well as having a high percentage of deposits that were not FDIC insured. The remainder of large and mid-sized banks appear to have been far more conservative and are likely to be more resilient. And, With the recent bank failures, the Federal Deposit Insurance Corporation (FDIC) has been in the news. Therefore, this is a good time for depositors to review the FDIC insurance limits and make sure that their deposits at their banks do not exceed the limits. This may include reducing the balance held at each bank, reviewing the title of bank accounts to maximize the FDIC insurance limit, and knowing which account types are covered by the FDIC and which are not. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- This probably goes without saying in this day and age, but don't believe everything that you read, or even watch, online. The recent bank turmoil has been exacerbated by false or misleading statements that have been posted online. This includes several cases where only a portion of a video interview is posted causing the statements made to be taken out of context or for the statements to lack the nuance to understand what the person being interviewed is trying to convey. In many cases, this misinformation is being spread by short-sellers (investors betting against a stock or group of stocks) in an attempt to sow panic and cause the prices of the investment that they are shorting to decline. This is not to say that one should bury their head in the sand during uncertain market times. It is important to remain informed and take well-thought-out action when it is warranted. This requires getting news from many sources, including more reputable sources that still engage in fact-checking, and from many different angles to understand what is really going on. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, With interest rates are significantly higher than they were last year, this is a good time for savers to review their cash management strategies to ensure that they are maximizing the interest rates they are earning on their savings. This may involve shifting money to account types that pay higher yields, comparing the rates that are offered by different institutions, and ensuring that accounts are earning the highest amount offered by the institution. Also, Investment tax losses may allow taxpayers to claim a tax deduction on their income taxes. However, the impact of these losses is often somewhat muted. Tax losses are first used to offset taxable gains. Then up to $3,000 of any remaining net loss may be used to offset the taxation of other income. Finally, any excess unused losses are carried forward to the following tax year. And, When an individual passes away their non-retirement assets often receive a step up in tax basis. This means their beneficiaries inherit the property as of the date of death with no built-in tax gain or loss. However, to take full advantage of this provision in the tax code, it is important to be able to substantiate the value of the property at the date of death. In the case of real estate assets, this often requires an appraisal by a professional, or else the value may be open to debate. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- The IRS finally provided guidance that State inflation relief payments, including the California Middle-Class Tax Refund payments, are not subject to federal taxation. Recently we posted that taxpayers who live or work in the many California counties that were included in the Presidentially declared disaster area will have until May 15th to file their income taxes and pay any amount due. This deadline has since been extended to October 16th by the IRS and the State of California is expected to conform to the change. Of course, this does not mean that taxpayers must wait to file and, in many cases, will be better off filing earlier rather than waiting until the extended deadline. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The US inflation rate declined slightly in January as goods prices continued to decline but services prices climbed. This will likely cause the inflation focus to shift from goods to services going forward as service prices will need to decline for inflation to return to its longer-term average. Within the services category, the cost of shelter is significant given the large percentage of household spending that goes to paying for shelter. Also, The Secure Act 2.0 made several changes to retirement plan catch-up contributions, including increasing the amount of the catch-up contribution for some savers. The amount of the catch-up allowed for IRAs will increase with inflation after 2024. In addition, in 2025 the catch-up will be increased by $10,000, or 1.5 times the normal catch-up amount, for those aged 60-63 saving in an employer-sponsored retirement account. And, Reverse mortgages have become more and more popular over the years as many homeowners seek to access their home equity to cover living expenses while continuing to live in the home and not having to make a monthly payment. However, the tax treatment of the interest that accrues on a reverse mortgage can be tricky as the interest is generally not paid until the home is sold and the tax deductibility depends on how the funds received were used. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- The IRS finally provided guidance that State inflation relief payments, including the California Middle-Class Tax Refund payments, are not subject to federal taxation. In response to the storms that hit many parts of California in late 2022 and early 2023, the Federal Emergency Management Agency (FEMA) has provided an extension of time to file tax returns, make payments of tax due, and make retirement plan contributions from April 17th to May 15th for taxpayers who live or work in the impacted counties. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The Weekly Economic Index (WEI) is a high-frequency (updated weekly rather than monthly or quarterly) economic indicator that has a strong track record of predicting the pace of US economic growth. Currently, the WEI is forecasting slow economic growth but is not yet predicting a recession in 2023. However, the path of this index should be watched closely given the mixed economic signals from other data. Also, One of the new changes under the Secure Act 2.0 will require that high-income earners (those who earned $145,000 or more from their employer in the previous year) have their catch-up contributions allocated to the Roth option. This will make the additional contribution taxable to the employee even though the money will be allocated to their retirement plan rather than their paycheck. And, The electric vehicle tax credit has been expanded to include more makes and models. However, the new rules also come with some significant restrictions that may make many taxpayers ineligible. First, there is now an income limit that will cause some taxpayers to be ineligible for the tax credit due to their income level. Second, there are some new convoluted rules about where the vehicle was manufactured and the composition and sourcing of minerals in the vehicle's battery. These new rules may make it difficult to determine if the credit will apply to a given vehicle. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Chase was the presenter at the most recent Financial Planning Association of Northern California meeting where he gave a presentation on economic data and trends. Many investment companies have issued tax forms for retirement account distributions but have not yet posted the tax forms for non-retirement accounts. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, Consumer prices have been in focus for the past several years as the Consumer Price Index (CPI) reported above-average increases in prices. However, what has been lost in this data is the even larger increase in the Producer Price Index (PPI) which measures prices paid by businesses for raw materials. This has caused profit margins to be squeezed as input prices increased faster than end prices. However, this pressure appears to be dissipating as producer prices have declined. Also, With home electricity prices having increased and Congress extending the 30% tax credit for solar panels, many people are once again considering investing in solar. In deciding whether or not to install solar it may be beneficial to determine the cost/benefit in terms of the time period it will take to break even and the time period that the solar panels are expected to last. And, The Secure Act 2.0 has expanded access to Roth accounts for many retirement savers. First, the option to elect Roth status is expanded to SIMPLE IRAs and SEP IRAs which were previously not allowed to make Roth contributions. Second, the matching contributions made by employers may be directed to a Roth account as long as the taxpayer pays the taxes on the contributions when made and there is no vesting schedule associated with the account. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- The Internal Revenue Service announced that Monday, January 23, 2023, will be the beginning of the 2023 tax season (the tax when tax returns may be submitted and processed for the 2022 tax year.) In addition, taxpayers will have three extra days to file this year, with the deadline on April 18, 2023, due to the normal deadline falling on a holiday Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, the passing of the Secure Act 2.0 has made several changes to the rules governing retirement accounts. Among these changes is the change in the Required Minimum Distribution (RMD) rules which extend the age at which retirement account owners will need to take distributions to age 73 in 2023. The Secure Act 2.0 also solidifies and expands the rules related to Qualified Charitable Distributions (QCDs) which allows for direct contributions from taxable retirement accounts to a qualified charity. Also, There have been a lot of changes to student loan rules over the past few years which may not have been front of mind for borrowers subject to the payment forbearance. Therefore, 2023 may be a good year for student loan borrowers to review their student loan options, recertify their income for Income-Driven Repayment plans, apply for student loan forgiveness, and explore new tax-free student loan payment options. And, The Secure Act 2.0 has created a new opportunity for money accumulated in 529 educational savings plans to be transferred to a Roth IRA for the 529 plan beneficiary. The maximum amount that can be transferred over the beneficiaries lifetime is $35,000 and the transfers must conform to the Roth IRA contribution rules which will require financial planning to meet the requirement of the new rules. However, it does offer a potentially valuable new option for money still in 529 plans after the beneficiaries' education has been paid for. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Before preparing your 2022 income tax return(s) it is important to make sure that you have all of the tax forms and other tax information that you need. In some cases, this may mean being patient until all of your investment forms have been issued. In other cases, it may mean being careful to thoroughly go through your mail looking for tax forms. For example, mortgage companies often send out Form 1098, which reports the interest paid during the year with the monthly mortgage statement. So, it is important to sort through all of the pages in the mailing to see if your tax forms were included with the most recent statement. Also, more and more companies are posting tax forms online rather than mailing them. Our tax organizer, or your tax return from the previous year, may be used to compare the information that was reported in the prior year with the tax forms that have been received to see if anything is missing. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, Foreign stocks have outperformed US stocks by 12% over the past two months. This represents a major shift from what has been a long and fairly consistent period of higher returns from US stocks. This recent shift in returns is partially explained by a weakening US dollar compared to other major currencies. However, foreign stocks also appear to offer more attractive valuations than US stocks at this time. Also, The pace of existing home sales has plummeted in the US as higher interest rates have made homes less affordable for many buyers. However, prices have remained resilient, increasing 3.5% year-over-year. This shows a disconnect in the housing market as demand wanes but sellers are choosing to stay put rather than reduce the price, they will accept for their home leading to fewer and fewer completed sales. And, With interest rates continuing to rise it is important for households to make some changes to their spending patterns. The buy now, pay later strategy may no longer be attractive as a higher mortgage, auto loan, and credit card interest rates may substantially increase the total costs. In other cases, it may be preferable to buy now before interest rates fall and prices potentially rise with a strategy to aggressively pay down balances. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- We will soon be sending out our tax engagement letters and tax organizers as we begin to prepare for the upcoming tax season. If you have any questions about the packet or the process of gathering your tax documentation for the 2021 tax filing season, please do not hesitate to send us an e-mail or give us a call. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The US inflation rate declined to 7.1% in November, the fifth consecutive month of decline. While food and energy inflation remain high year-over-year, both show shorter-term improvement with the pace of the increase in food prices declining and energy prices dropping in four of the last five months. Meanwhile, services prices have increased, but not by enough to offset the weakness in goods prices, which is a positive sign that inflation may continue to decline. Also, 2022 may be a good year for tax loss harvesting. With the difficult year in the financial markets, many investment holdings may have unrealized tax losses. These losses can be converted into realized tax losses, which can be deducted on an income tax return, by selling the investment and reinvesting the money into a different investment. And, The amount that an individual can give to another individual in a year without having to file a gift tax return will increase from $16,000 in 2022 to $17,000 in 2023. Married couples may also engage in gift-splitting in which each gives an individual the amount of the gift tax exclusion so that the total that can be gifted in a year will increase from $32,000 in 2022 to $34,000 in 2023. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- With the holidays quickly approaching, we want to make sure you are aware of our holiday schedule for this year. December 26th Closed December 30th Closed Given the above holiday schedule, as well as the holiday schedule of many of the companies that we work with, we ask that any forms or other requests that must be completed before year-end be submitted as soon as possible. If any paperwork or requests come in close to the end of the year, we will make our best efforts to process the forms or fulfill the requests but cannot guarantee that it will be completed in time due to factors beyond our control. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The estimates of global economic growth have been revised several times in 2022 as the probability of a recession in the US within the next twelve months has increased to nearly 25%. It seems the best scenario is a period of very low economic growth, with the worst case is a period of economic contraction. However, this outlook for economic growth may already be reflected in market prices as investors may have incorporated these expectations into their estimates of future prices. Also, Cryptocurrencies were touted as an unregulated way for investors to hold and transfer funds in stark opposition to the highly regulated banking industry, which makes up the foundation of the international financial system. However, recent failures show that the lack of regulation has allowed cryptocurrency companies to repeat the same mistakes that led to the bank regulations they sought to avoid. And,The six-month rate of interest paid on Series I Bonds declined from a rate in excess of 9% for the six months from May 1st to October 31st to less than 7% for the period from November 1st ,2022, to April 30th, 2023. However, the fixed interest rate component was increased from zero percent to 0.4% making the return slightly less dependent on the future rate of inflation to generate a positive yield. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- The holidays are a popular time for charitable giving. However, few people give much thought to how they give which means they may be missing out on potential tax savings. Ever since the 2017 Tax Act, which increased the amount of the standard deduction, many taxpayers did not have a sufficient amount of itemized deductions to be able to take advantage of their charitable contributions. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The stock market surged on November 10th in response to a better-than-expected inflation report. This has caused some to question how stock prices can be considered rational when prices sometimes swing by such large amounts in one day. The answer relates to the fact that investors are forward-looking, so they are constantly anticipating the future. However, the time frame investors use to price investments often changes over time. Also, The US inflation rate declined by more than expected in October. Consumer prices increased 0.4% for the month and 7.7% year-over-year. This was a 1.4% decrease from the peak of 9.1% in June 2022 led by a decline in energy prices. However, food prices have continued to increase, and the price of shelter has remained persistently high despite stagnation in home prices due to increased rents. And, In an effort to step-up tax enforcement, new tax laws have increased the reporting requirements for non-traditional sources of income such has “gig work” or “side hustles.” This includes a requirement that a Form 1099-K be issued for income earned of $600 or more in a year. Therefore, it will be even more important for taxpayers to track their income and expenses from non-traditional work in the coming years to make sure they are able to properly report their income without overpaying income taxes. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- The Harlan D. Wood Memorial Cancer Charity Golf Tournament was once again a big success. The tournament was rescheduled due to extreme heat in September which caused some concern that Mother Nature may be against us this year and could bring rain on the alternate date in November. However, we dodged the rain earlier in the week and had a great day for golf. Chase's team shot a very strong 53 (-19 to par) and returned three out of their four pink balls giving them a net score of -50 for the win. This means Chase's long quest to get his name back on the winner's plaque has ended. However, Shannon did get the bragging rights of winning the long-drive competition this year. More importantly, this year we raised over $12,000 for cancer charities bringing our cumulative total to $155,045. We would like to thank everyone who supported the event this year and in years past by attending the tournament, bidding on auction items, and contributing to cancer charities. We look forward to next year when hopefully we will be able to continue to grow the tournament and the donations raised for cancer charities. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The high rate of inflation throughout 2022 has resulted in large adjustments to a number of areas of the US income tax code. The number of tax deductions, the levels for each income tax bracket, and the income levels of tax credits are all adjusted upward for 2023. This will produce little change in tax rates for those whose taxable income has kept up with inflation but will likely produce tax savings for those whose income has not increased in line with inflation. Also, The US economy grew by an annualized rate of 2.6% in the third quarter, offsetting the declines reported in the first and second quarters. Consumer spending continued to the positive while private investment contracted sharply. Meanwhile, foreign trade was strongly positive and government spending once again turned positive. And, Social Security benefits will increase by 8.7% in 2023. This is the equivalent of beneficiaries receiving an extra payment in 2023 as their total annual benefit will be more than 13 times their monthly 2022 payment. In addition, unlike past years where increases in Medicare premiums offset a large percentage of the Social Security COLA, in 2023 Medicare premiums will decrease slightly so that the entire Social Security COLA will flow through to beneficiaries. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- The annual contribution limit for employees who participate in 401k, 403b, 457 type plans will increase to $22,500 in 2023, which is a $2,000 increase from 2022. In addition, the catch-up provision that employees aged 50 and over can contribute will be an additional $7,500 (up $1,000 from the prior year), bringing the total employee deferrals to $30,000 for 2023. The limit on annual contributions to an IRA or ROTH IRA will increase to $6,500 in 2023, up from $6,000 in 2022. The catch-up contribution for those aged 50 and older remains the same at $1,000, bringing the total to $7,500. Limits on other small business retirement plans have also increased along with the income phase outs for ROTH IRA eligibility. With the larger increases coming in 2023, especially with the ROTH IRA eligibility, taxpayers may want to review their overall finances to determine if they need to make any adjustments, including increasing their salary deferrals or incorporating direct ROTH contributions if they are eligible based on the higher income thresholds. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, With the mid-term elections around the corner, there is a lot of noise about the risks that it could pose to the markets and the economy. Much of this is political rhetoric as both parties make their case for political power or attack the other in an attempt to get their base excited to vote. However, the data shows that midterm elections have not been the big political risk some are trying to make it out to be and, in fact, have led to positive market returns over the next year regardless of the outcome. Also, 2022 has been a year in which investors have shunned investments to instead focus on spending for consumption. This explains why consumer prices are up and investment prices are down. However, it may also create an opportunity for those with a contrarian mindset who are willing to limit consumption at high prices and instead invest the savings to take advantage of today's lower investment prices. And, Family gifts or loans may be a good way to help the next generation get a financial head start in life. However, gifts as well as loans, whether with interest or interest-free, may create additional tax filing requirements as well as additional taxable income that the lender may have to report on their income tax returns. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Applications to apply for student loan forgiveness are now being accepted at www.studentaid.gov. This process is still in beta mode which means there may be some hiccups in completing the required information and uploading the required documents. Student loan forgiveness is not expected to actually take place until the end of April 2023, however, those who are inclined may want to start working on the application now to be at the front of the line Some clients, as well as some of us at Planned Solutions, have received paperwork from Securities America related to their privacy policy. The accounts that they are referencing were closed in 2018 when we transitioned to Schwab as our primary custodian, so it is unclear why they continue to send out these notices. Therefore, these notices, as well as the statements showing zero balances that they send occasionally, may be ignored. The Planned Solutions Charity Golf Tournament was postponed this year due to extreme heat. Fortunately, we were able to postpone the date to a time when it should be much cooler. The new details are: Date: Friday, November 11, 2022 Time: 11:00 am shotgun tee time (moved up due to daylight savings) With the change in the date, there is still time to sign up to golf or attend the dinner afterward. The new deadline to RSVP is November 4th. This is the 20th year of the tournament so we are going all out with giveaways, raffle prizes, silent auction items, and other fun activities. We hope to see you there. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The level of margin debt (money borrowed to invest in stocks) was at high levels in late 2021 creating a concern about the high level of short-term speculation in the stock market. However, since then, the amount borrowed to invest in stocks has declined sharply and is now in line with the long-term trendline. This could be a sign that the stock market is normalizing by correcting for some of the excesses that were built following the pandemic. Also, Interest rates have been increasing which is a bad thing for conventional mortgages. However, it may benefit borrowers to take out a reverse mortgage with a line of credit. This is because the limit on the line of credit increases at the same interest rate that would be applied to any balance on the loan. Therefore, the higher the interest rates, the faster the limit on the line of credit will increase over time. And, Higher interest rates have created an environment where many homeowners can earn a higher interest rate on their money, with little risk, then their mortgage is costing them. This can lead to a low-risk strategy where borrowers who have the money to pay off their mortgage may benefit from investing their money instead and then using the funds, plus interest, to pay off their mortgage over time. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- For many health insurance providers, Open Enrollment for health insurance in 2023 starts on November 1, 2022. Now may be a good time to review your current coverage and make any necessary changes for the coming year. Things to consider can include your health history, change in marital status, change in dependents, change in job(s) for you and/or your partner, and change in income and tax brackets. The health insurance landscape is constantly changing which can impact your current plan. In addition to comparing plans offered by each of your and your partner's employer, it is important to compare the premiums relative to the coverage, maximum out of pocket expenses, deductibles, and High Deductible Health Plans and Health Savings Account (HSA) features. If eligible, individuals can contribute up to $3,850 ($7,750 for family coverage) as tax-deductible contributions to an HSA Plan for the tax year 2023. The Planned Solutions Charity Golf Tournament was postponed this year due to extreme heat. While we were looking forward to golfing and raising money for cancer charities we realized that no one was likely to show up to play in 108-degree heat and smoke hanging in the air from the fires in El Dorado and Placer counties. Fortunately, we were able to postpone the date to a time when it should be much cooler. The new details are: Date: Friday, November 11, 2022 Time: 11:00 am shotgun tee time (moved up due to daylight savings) With the change in the date, there is still time to sign up to golf or attend the dinner afterward. The new deadline to RSVP is November 4th. This is the 20th year of the tournament so we are going all out with giveaways, raffle prizes, silent auction items, and other fun activities. We hope to see you there. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The US stock market was unable to resume an upward trend in August as the market stalled out at the 200-day moving average trend line. Now the market is trading between its long-term trendline and the low for the year in mid-June. While these trends offer some indication of the market trends for the remainder of 2022 it is likely that important data such as Federal Reserve policy, economic data, and the upcoming earnings season will have a larger impact. Also, Inflation proved surprisingly persistent in August as declines in fuel prices were offset by increases in energy utilities, new car prices, and services such as shelter, transportation, and medical services. This may be an indication that inflation is shifting from the goods market largely driven by supply chain issues and costs to the services sector where higher wages may be forcing companies to raise prices. And, Individuals who participate in a non-covered pension (a pension that is earned while not being required to pay Social Security taxes) need to be aware of the Government Pension Offset (GPO) rules. Under the GPO rules, an individual who receives a non-covered pension may have their Social Security widow or widower benefits reduced based on the amount of their pension. In some cases, the Social Security benefits may be eliminated entirely. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- The Planned Solutions Charity Golf Tournament was postponed this year due to extreme heat. While we were looking forward to golfing and raising money for cancer charities we realized that no one was likely to show up to play in 108-degree heat and smoke hanging in the air from the fires in El Dorado and Placer counties. Fortunately, we were able to postpone the date to a time when it should be much cooler. The new details are: Date: Friday, November 11, 2022 Time: 11:00 am shotgun tee time (moved up due to daylight savings) With the change in the date, there is still time to sign up to golf or attend the dinner afterward. The new deadline to RSVP is November 4th. This is the 20th year of the tournament so we are going all out with giveaways, raffle prizes, silent auction items, and other fun activities. We hope to see you there. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The recent executive order creating student loan forgiveness of $10,000 or $20,000 for most student loan borrowers has created more questions than it has answered. Over time we should get more information on how this will be administered and the steps that borrowers will need to take to apply. However, there are some changes to student loan repayment programs that have been made which may impact some borrowers and allow them to better plan for their financial future. Also, Commodity prices often follow predictable patterns as supply and demand shift over time. These cycles can lead to high prices followed by low prices and then high prices again. For example, one needs to look no further than the market for avocados which surged from 2017-2019 due to increased demand. Suppliers responded by increasing production creating a glut of avocados causing prices to drop. And, The Federal Reserve's tough talk on inflation at their Jackson Hole, WY symposium has caused investors to shift their concern from high inflation to slowing economic growth. This shift in sentiment may have taken Fed officials by surprise as they attempt to find the right balance between fighting inflation while maintaining US economic growth, the so-called “soft landing” scenario. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- The calendar says that Summer is nearing an end but the thermometer here in Sacramento and elsewhere is telling a different story with temperatures exceeding 110 degrees for multiple days in a row. Naturally, with such extreme heat, we are looking forward to the Fall and hopefully the mild weather that it typically brings. Fall also is the season for tax planning and Required Minimum Distributions (RMDs) from retirement accounts. This is a good time to meet to review tax strategy, tax withholdings, and discuss ways to reduce or manage tax liabilities before the year ends and many of the options available go away. If you are interested in discussing your tax situation, reviewing your RMD and the tax implications, or discussing strategies such as Roth IRA conversions, please contact us to set up a meeting. Or, let us know that you would like to include tax planning as an agenda topic for your next review meeting. Chase participated in the Chartered Financial Analyst (CFA) Society of Sacramento's annual golf tournament. In addition to being a fun day on the links, this tournament is always a great opportunity to network with other financial analysts and “talk shop.” In Sacramento the majority of the CFA Society members work at two of the nation's largest pension funds, California Employees' Pension Services (CalPERS) and California State Teachers Retirement Services (CalSTRS) making it a great opportunity to learn what changes are occurring at these institutions both from an investment and participant services standpoint. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The strong rebound in stock prices over the past two months has partially been due to short sellers reversing their bets against stocks. The short interest, the number of shares borrowed and sold, reached a high in mid-June but has since declined. Often when stock prices increase short sellers will engage in panicked buying as they rush to buy shares to repay the shares that they borrowed before the share prices increase further. Also, the meme stock craze (investors buying shares of companies that are thought to be near bankruptcy based on a recommendation from internet message boards) looked like it was running out of steam this year as the share prices of recently popular meme stocks crashed. However, there appears to be a new round of get-rich-quick investors distorting stock prices with their high-risk trades And, The IRS has extended and increased the tax deduction allowed for K-12 educators who spend their own money on classroom supplies. The above-the-line deduction, which is allowed in addition to the standard deduction or itemized deductions, was increased from $250 per educator per year to $300 starting in 2022. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Planned Solutions has hired a new part-time research analyst to help share the work of updating our ever-expanding list of investment research models. Cern Lee joined the firm on August 15th and will work on updating investment research and compiling economic and financial data for the investment committee to review. Cern has a background in finance and taxes as well as working with Customer Relationship Management software both in the US and in her native Thailand before taking some time off to start a family. For the time being, Cern will not have any client-facing responsibilities but will be providing support behind the scenes to improve our client service and expand our investment research capabilities. Chase participated in the Chartered Financial Analyst (CFA) Society of Sacramento's annual golf tournament. In addition to being a fun day on the links, this tournament is always a great opportunity to network with other financial analysts and “talk shop.” In Sacramento the majority of the CFA Society members work at two of the nation's largest pension funds, California Employees' Pension Services (CalPERS) and California State Teachers Retirement Services (CalSTRS) making it a great opportunity to learn what changes are occurring at these institutions both from an investment and participant services standpoint. Please mark your calendars if you will be able to attend. Date: Friday, September 9th, 2022 Location: Rancho Murieta Country Club – South Course 7000 Alameda Drive ancho Murieta, CA 95683 Time: 12:30 pm shotgun start with a dinner to follow All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The US stock market has rebounded from its mid-June lows rallying 13% and cutting the losses for the year in half. However, the market is now nearing a key resistance line defined by the mid-March lows and the late-May/early-June highs. Should the market fail to push through this resistance level the lows from mid-June could be revisited. On the other hand, should the market push through this level the next point of resistance is 10% higher than the current price. Also, The US economy has likely contracted for two consecutive quarters based on the first estimate for the second quarter of 2022 economic output. However, household spending has remained positive for the first two quarters showing that the consumer remains strong. Meanwhile, government spending has declined as the stimulus spending from early 2021 is compared to current spending levels. And, Investors typically want to avoid taking distributions from their investment accounts when the markets are down. However, those who own an inherited IRA and are subject to the 10-year distribution rules may benefit from accelerating distributions when investment values are down and then reinvest the money in an after-tax investment account where a recovery in value may be subject to lower tax rates. This will also help free the account owner from the 10-year rule that is related to inherited IRAs. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- The Inflation Reduction Act of 2022 recently passed the Senate and is expected to soon pass the House of Representatives and be signed by the President. While this bill is scaled way back from the original Build Back Better bill it still contains numerous provisions that will take time for us to dig into. The bill includes new taxes, mostly on businesses, that are expected to generate $739 billion in increased tax revenue as well as spending of $433 billion, some of which includes individual tax credits such as those for purchasing electric vehicles. The bill also includes increased funding for the IRS in an attempt to increase tax collections. Unfortunately, it looks like most of this money will go to tax enforcement (increased audits) rather than IRS customer service which has made it nearly impossible for taxpayers to resolve tax issues. Therefore, taxpayers may face an increase in audits and tax notices with no additional resources to help them get these issues resolved. Save the date for the Harlan D. Wood Memorial Cancer Charity Golf Tournament which is scheduled for Friday, September 9th, 2022. We hope to build on the strong participation that we had last year and set a new record regarding funds raised for cancer charities again this year. The course should be in good shape and the silent auction items will be great again this year. In addition, we are going to switch things up a bit and play the South Course this year, which plays a little easier but is every bit as good as the North Course for great views and tricky angles to the greens. Please mark your calendars if you will be able to attend. Date: Friday, September 9th, 2022 Location: Rancho Murieta Country Club – South Course 7000 Alameda Drive ancho Murieta, CA 95683 Time: 12:30 pm shotgun start with a dinner to follow All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, One of the themes of the stock market in 2022 has been the outperformance of value stocks over growth stocks. However, growth stocks have demonstrated a tendency to outperform value stacks when prices are trending upward as they have over the past six weeks. This may be a sign that growth stocks are more likely to lead market returns should the stock market recovery continue. Also, One of the themes of the stock market in 2022 has been the outperformance of value stocks over growth stocks. However, growth stocks have demonstrated a tendency to outperform value stacks when prices are trending upward as they have over the past six weeks. This may be a sign that growth stocks are more likely to lead market returns should the stock market recovery continue. And, Stock lending is now being offered to non-institutional investors as an enticement to use certain brokerage firms. Some investors are attracted to the idea of lending their stock holdings to other investors in order to earn a small amount of income on the loan. However, there are important risks as well as tax implications that investors need to consider before engaging in these more advanced investment strategies. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Save the date for the Harlan D. Wood Memorial Cancer Charity Golf Tournament which is scheduled for Friday, September 9th, 2022. We hope to build on the strong participation that we had last year and set a new record regarding funds raised for cancer charities again this year. The course should be in good shape and the silent auction items will be great again this year. In addition, we are going to switch things up a bit and play the South Course this year, which plays a little easier but is every bit as good as the North Course for great views and tricky angles to the greens. Please mark your calendars if you will be able to attend. Date: Friday, September 9th, 2022 Location: Rancho Murieta Country Club – South Course 7000 Alameda Drive ancho Murieta, CA 95683 Time: 12:30 pm shotgun start with a dinner to follow All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The second-quarter earnings season, in which companies report their results for the second quarter, will be picking up steam soon. The results will likely have a significant impact on stock returns for the remainder of the year as investors assess how companies are dealing with inflation, rising interest rates, and concerns about economic growth. In addition, the number and amount of negative earnings adjustments that are taken this quarter may impact the overall earnings results as they have during past market downturns. Also, While the major stock indexes were down as much as 20% earlier this year there are several areas of the market where the losses have been much greater. The cryptocurrency area as well as technology companies that recently went public have experienced losses of 70-80% over the past nine months. However, many mainstream investors did not participate in these investments making their experience much different. And, The IRS recommends that taxpayers, including those who are on extension, not wait until the last minute to file their returns. The IRS is already dealing with a large backlog of returns to be processed so the sooner a taxpayer gets their return into the IRS the sooner their refund may be processed. Those who wait until the deadline may end up at “the back of the line” which could lead to a long delay in processing. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Planned Solutions sponsored and Chase and Joel played in a golf tournament in support of the Katie Nues Foundation. The Katie Nues Foundation founded the first clinic to treat children with Rett's disease on the West Coast located in Oakland, CA. The Foundation continues to fund the clinic's operations and offer support for families whose children have been diagnosed with Rett's disease. Our office construction is complete although we are still unpacking and hanging decorations as we are able to get to it. So, our office is back to its normal function without any significant disruptions to in-office meetings. However, for those who prefer it, we are happy to offer phone and Zoom meetings as well. Daryl has been accepted into the UC Davis Extension Executive Leadership Program. This program is designed for business leaders in the Sacramento Region who seek to develop leadership skills that will aid them in managing an organization while networking with other leaders from the public, private, and non-profit sectors. Participants must apply to the program and are accepted based on their education, experience, and leadership potential. Please mark your calendars if you will be able to attend. Date: Friday, September 9th, 2022 Location: Rancho Murieta Country Club – South Course 7000 Alameda Drive ancho Murieta, CA 95683 Time: 12:30 pm shotgun start with a dinner to follow All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, increasing oil prices have been a major contributor to the high inflation rates in the US. The increase in oil prices is due to a variety of factors, but the most important may be the oil investment cycle. This is the pattern of increased and decreased investment in new oil supply in response to high or low prices. The lag between when the investment is made and when oil makes it to market often results in large swings in prices as oil and gas companies have attempted, and failed, to accurately forecast market demand. Also, the mortgage markets appear to be normalizing as the low mortgage rates from the pandemic are now giving way to rates that are more in line with the long-term average. In addition, loan offers are changing their loan standards so that the lending standards are no longer loose, but rather have reverted to a more neutral stance, even as demand for mortgage loans has moderated. And, The IRS has increased the amount that businesses may deduct for business miles driven during the second half of the year to reflect the increase in gas prices. Therefore, companies may be able to deduct a more significant amount of business miles after June 30 th. This makes it very important that business owners keep accurate records of the business miles driven, and when those miles were driven, as a different tax rate will apply this year depending on the date of travel. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Our office is undergoing a transformation. However, as we work our way through the process our office will be in various states of disrepair until the project is done. We ask for your understanding over the next month as we try to balance our office renovations with our normal business operations. We often find that during the summer months the number of client meetings scheduled starts to lull as our clients focus on summer vacations and other activities to enjoy the nice weather. However, given the higher-than-average market volatility that we have experienced this year, we want our clients to know that we are available to meet to discuss our outlook for the economy and the financial markets. So, if you are concerned about the economy, financial markets, or your account performance please do not hesitate to give us a phone call or send us an e-mail. Please mark your calendars if you will be able to attend. Date: Friday, September 9th, 2022 Location: Rancho Murieta Country Club – South Course 7000 Alameda Drive ancho Murieta, CA 95683 Time: 12:30 pm shotgun start with a dinner to follow All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.

In this episode of the Planned Solutions Incorporated Podcast, The S&P 500 entered bear market territory (defined as a 20% or greater decline from the previous high) in mid-June. The stock market is now very close to pricing in a recession which on average could be expected to lead to a 27% decline in stock prices. Therefore, even if the US economy were to go into a recession, the stock market may not have much further to fall. On the other hand, should the US economy avoid a recession the stock market may rally due to the current pessimistic outlook. Also, The motor vehicle industry was hit hard by the COVID pandemic. First, production decreased due to the need for social distancing. Then, supply chain issues disrupted production causing the industry to operate below the pre-COVID levels for most of 2021. However, the motor vehicles and parts production index recovered to its preCOVID levels in April which may help to alleviate price increases. And, Restricted Stock Units (RSUs)are a valuable source of employee compensation in some industries. However, the taxation of RSUs as well as the tax withholding rules can cause some large, unexpected tax bills. Therefore, employees who receive RSUs should engage in tax planning when the units vest and become taxable to avoid owing a large amount at tax time and possibly being subject to tax underpayment penalties. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Please mark your calendars if you will be able to attend. Date: Friday, September 9th, 2022 Location: Rancho Murieta Country Club – South Course 7000 Alameda Drive ancho Murieta, CA 95683 Time: 12:30 pm shotgun start with a dinner to follow All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc. ADDRESS: PHONE: 1130 Iron Point Road, Suite 170 (916) 361-0100 Folsom, CA 95630 (800) 750-2111 E-MAIL: FAX: Shannon@PlannedSolutions.com (916) 361-0191 WEB SITE: www.PlannedSolutions.com

In this episode of the Planned Solutions Incorporated Podcast, the inflation breakeven rate is derived by comparing the interest rates paid on nominal Treasury bonds to the rates paid on inflation-protected Treasure bonds. It is a way for economists to gauge the inflation expectations of investors who are investing real money in these markets, as opposed to opinion surveys, making the inflation breakeven rate a historically more accurate gauge of future inflation. Recently this indicator has been falling signaling that inflation in the US may have peaked in the near term. Also, When 529 plan funds are left over after higher education expenses have been met there are several options for account holders. These include transferring the beneficiary to the next generation, using the 529 plan funds to pay down student loan balances, or taking a nonqualified distribution from the 529 plan in which the growth in the plan may be subject to income taxes and penalties. And, Charitable Remainder Trusts (CRTs) can be a valuable tax planning tool for individuals who own appreciated assets outside of a retirement plan, want to convert those asset values into an income stream, and have a desire to donate funds to charity after their passing. CRTs allow a donor to achieve all of these goals in a tax-efficient way. In addition, the beneficiary may benefit from income payments over a specified period or their lifetime with any remaining assets in the trust at the beneficiary's death going to charity. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Identity theft and fraud continue to be all too common. However, several best practices can be used to protect yourself: 1. Be suspicious of unsolicited phone calls, e-mails, and text messages asking you to send money or disclose personal information. If you receive a suspicious call from an individual or institution do not accept it, hang up, and call back using a known contact number. 2. Be cautious when sharing sensitive information and conducting personal or confidential business via e-mail since it can be compromised and used to facilitate identity theft. 3. Do not disclose personal or sensitive information on social media sites, such as birth dates, contact information, and mother's maiden name. 4. Do not verbally disclose or enter confidential information on a laptop or mobile device in public areas where someone could see, hear, or access your information. 5. Verify payment requests you receive by using a known phone number or e-mail. 6. Do not click on links in e-mails unless you have verified with the sender that the e-mail is legitimate. Please mark your calendars if you will be able to attend. Date: Friday, September 9th, 2022 Location: Rancho Murieta Country Club – South Course 7000 Alameda Drive ancho Murieta, CA 95683 Time: 12:30 pm shotgun start with a dinner to follow All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc. ADDRESS: PHONE: 1130 Iron Point Road, Suite 170 (916) 361-0100 Folsom, CA 95630 (800) 750-2111 E-MAIL: FAX: Shannon@PlannedSolutions.com (916) 361-0191 WEB SITE: www.PlannedSolutions.com

In this episode of the Planned Solutions Incorporated Podcast, As high inflation continues to impact households and businesses, the different segments of the economy are pointing fingers at each other. Households blame government policy for overstimulating the economy last Spring, the government blames businesses for price gouging, and businesses blame households citing the low labor force participation rate that is putting upward pressure on wages. The trust is that each segment of the economy will need to do its part to bring down the rate of inflation. Also, Proponents of virtual currencies have made arguments that these assets would take on the role of other assets, such as gold. The assertion is that virtual currencies would be considered safe assets that increase in value when financial markets are in turmoil and would also serve as a good hedge against inflation. However, the large decline in the value of virtual currencies this year appears to be disproving these arguments. And, Donor Advised Funds (DAF) are valuable tax planning tools which allows individuals to set money aside to donate to charity in the future, while claiming the tax deduction in the year the contribution to the DAF is made. However, too often individuals forget about these funds after the tax deduction is claimed. It is important to have an investment and giving strategy for these accounts in order to manage the money and distribute the funds overtime to selected charities. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Chase and Daryl attended the Financial Planning Association of Northern California meeting in May to learn about Wallet Activism. The presentation focused on ways that individuals can use their money to create the environmental, social, and governance changes that they would like to see in the world. Despite the sharp decrease in the COVID numbers, cases continue to be prevalent with two of Planned Solutions' households being hit this month. We plan to keep the office open as most people have had the chance to be vaccinated and in general the symptoms have been mild. Any infected employees will work from home to avoid further spread, but there is always the risk that someone may be infected and not yet be showing symptoms. We bring this up to make sure our clients are informed when deciding whether to meet in office or over the phone or Zoom. Please mark your calendars if you will be able to attend. Date: Friday, September 9th, 2022 Location: Rancho Murieta Country Club – South Course 7000 Alameda Drive ancho Murieta, CA 95683 Time: 12:30 pm shotgun start with a dinner to follow All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc. ADDRESS: PHONE: 1130 Iron Point Road, Suite 170 (916) 361-0100 Folsom, CA 95630 (800) 750-2111 E-MAIL: FAX: Shannon@PlannedSolutions.com (916) 361-0191 WEB SITE: www.PlannedSolutions.com

In this episode of the Planned Solutions Incorporated Podcast, The stock market is currently testing a key level that could impact the performance of the market over the first six months of 2022. After declining in January, and then falling further in March, the stock market is now testing its lows from March. Should the market rebound in May it may create a double bottom which could be a positive sign going forward. However, if the market declines further, dipping below the March / April lows, it could mean that another leg down will come before the market finds a bottom. Also, Series I US Government Savings Bonds are currently offering attractive interest rates. The rates on these bonds are based on the rate of inflation which is currently quite high compared to other interest rates. However, investors should understand the rules surrounding these bonds including the limits on the amount that can be purchased, required holding periods, and the income tax implications. And, In an effort to uncover untaxed income the IRS is now requiring more and more companies to issue Form 1099-K to report transactions. This means that more credit card and third-party networks will be reporting income to taxpayers. In some cases, this may be taxable income that should have been reported anyway but in others, it may be payments for personal expenses, such as a friend reimbursing an individual for tickets to a concert or sporting event. Therefore, taxpayers may need to be more cautious when using these payment platforms. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Save the date for the Harlan D. Wood Memorial Cancer Charity Golf Tournament which is scheduled for Friday September 9th, 2022. We hope to build on the strong participation that we had last year and set a new record in regard to funds raised for cancer charities again this year. The course should be in good shape and the silent auction items will be great again this year. In addition, we are going to switch things up a bit and play the South Course this year, which plays a little easier but is every bit as good as the North Course for great views and tricky angles to the greens. Please mark your calendars if you will be able to attend. Date: Friday, September 9th, 2022 Location: Rancho Murieta Country Club – South Course 7000 Alameda Drive ancho Murieta, CA 95683 Time: 12:30 pm shotgun start with a dinner to follow All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc. ADDRESS: PHONE: 1130 Iron Point Road, Suite 170 (916) 361-0100 Folsom, CA 95630 (800) 750-2111 E-MAIL: FAX: Shannon@PlannedSolutions.com (916) 361-0191 WEB SITE: www.PlannedSolutions.com

In this episode of the Planned Solutions Incorporated Podcast, The stock market has taken a hit to start 2022. However, not all areas of the market have suffered equally as the investment themes continue to show signs of shifting to favorable assets that are likely to perform better in a period of high inflation and rising interest rates. For example, value stocks have outperformed growth stocks, dividend-paying stocks have outperformed bonds, and commodities have outperformed stocks. Also, The US government fiscal deficit has decreased recently as COVID-related spending has waned. However, the damage that COVID did to the finances of the US government is still evident with the national debt now exceeding $30 trillion. Interest on this debt now exceeds $431 billion, or 10.5% of US government revenue, and represents the fourth largest category of US government spending. And, The US unemployment rate has recovered to its pre-COVID levels. However, it is too early to celebrate the labor market recovery as the employment-to-labor force ratio and the employment-to-population ratio are both still 1% below their pre-pandemic levels. This means there are three million more people not working or looking for work than before the pandemic. Fortunately, there are currently 11 million job openings which well exceeds the 7 million level before the pandemic. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- For those who find that they have become a victim of identity theft, even if it is from an event that was entirely beyond their control, the next question is often: What needs to be done to limit the damage? A good resource on identity theft and the steps that can be taken to report the problem, and recover from a breach of personal data, is the Federal Trade Commission on identity theft: www.identitytheft.gov. The website includes information on the next steps following the discovery of a fraudulent tax filing, unemployment insurance claim, a breach at an employer or other company that may have exposed an individual's private data, and other types of identity theft. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc. ADDRESS: PHONE: 1130 Iron Point Road, Suite 170 (916) 361-0100 Folsom, CA 95630 (800) 750-2111 E-MAIL: FAX: Shannon@PlannedSolutions.com (916) 361-0191 WEB SITE: www.PlannedSolutions.com