Posts by Taylor Stanfill, CFP®
20 Second Advisor: 2022 Retirement Contribution Limits
Here are the maximum amounts you can save into some common retirement plans in 2022: 401k Pre-tax or ROTH – $20,500 (Increased from $19,500) 401k Catch-up if over 50 – $6,500 SIMPLE IRA – $14,000 (Increased from $13,500) SIMPLE IRA Catch-up if over 50 – $3,000 Traditional IRA or ROTH IRA – $6,000 Traditional IRA…
Read More20 Second Advisor: 5 Things To Do BEFORE 2022
Retirement Contributions – Make 401k, IRA or employer contributions. Charitable Contributions – Give cash or appreciated investments to your favorite charities. 2021 Reflection – Did I save, give, spend intentionally, and pay off what I had planned? If so, celebrate! If not, why? 2022 Plan – How much will I save, give, spend intentionally, and…
Read More20 Second Advisor: How do you celebrate your birthday?
Billy, a good friend of mine, turned 50 yesterday. He celebrated by running / walking for the entire day (24 hrs)! I know it sounds crazy, right?! We surprised him all throughout the day with food, practical jokes, and comradery. Most importantly, we made sure he had someone running with him for the entire 24…
Read More20 Second Advisor: Do it for the people you love!
I recently traveled internationally with a group of business men. Traveling without my family forces me to consider their situation if I was “promoted” (died) unexpectedly. It’s uncomfortable and sad to think about this, but I’d rather be prepared than avoid discomfort. Here are the questions I asked myself before my trip: Will my family…
Read More20 Second Advisor: Review The NEW Social Security Statement
The Social Security Administration redesigned their statements to make them easier to read and understand. They also stopped mailing them to most people. Therefore, it’s a good time to login or create an account to review your statement. Check to make sure your earnings history is correct and that your personal information is accurate. The…
Read More20 Second Advisor: POTENTIAL Tax Law Changes = Good Time to Talk
The proposed tax changes are top of mind for many people which is understandable! This has triggered meaningful conversations with clients. This is always a good thing! We don’t know what the final result will be so we aren’t recommending specific strategies for everyone. That said, given the trajectory and items addressed in the changes,…
Read More20 Second Advisor: Being Disciplined Can Be Boring
I am piggybacking off of Thad’s post from last week! Last Thursday, me and some other psychos in Roswell, GA were running 1/2 mile repeats down Main St. I was in charge of the workout so I was hyper-focused on making sure everyone was okay. After the workout, I commented to a friend, “I hope…
Read More20 Second Advisor: What I’ve learned about money from my garden (part 3)
Regular maintenance is required if you want it to thrive! Sure, you can ignore it and it may produce some fruit, but it won’t flourish! Here are a few things we’ve had to do: Cut “suckers” from plants Pull weeds that hog precious water and nutrients Water as needed It’s amazing how much this applies…
Read More20 Second Advisor: What I’ve learned about money from my garden – PT 2
As mentioned in my previous post, it’s amazing how many principles transfer from the garden to life / money. Here’s another one: It’s good to struggle! When you plant a garden, the tendency is to OVERwater your plants. In fact, one of the most common reasons plants die is due to overwatering! You see, plants…
Read More20 Second Advisor: What I’ve learned about money from my garden
We started a garden this year, and it’s been extremely rewarding and fun! There are numerous principles observed in the garden that apply to our finances. Here’s a big one: It is all about the soil! It’s tempting and seemingly more fun to focus on the end product (fruit / vegetables from the garden or…
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