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Key Retirement and Tax Numbers for 2020

Every year, the Internal Revenue Service announces cost-of-living adjustments that affect contribution limits for retirement plans and various tax deduction, exclusion, exemption, and threshold amounts. Here are a few of the key adjustments for 2020. Employer retirement plans Employees who participate in 401(k), 403(b), and most 457 plans can defer up to $19,500 in compensation …

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Hindsight Is 2020: What Will You Do Differently This Year?

According to a recent survey, 76% of Americans reported having at least one financial regret. Over half of this group said it had to do with savings: 27% didn’t start saving for retirement soon enough, 19% didn’t contribute enough to an emergency fund, and 10% wish they had saved more for college.1 The saving conundrum …

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Socially Responsible Investing: Aligning Your Money with Your Values

Sustainable, responsible, and impact (SRI) investing (also called socially responsible investing) has been around for a long time, but growing interest has moved it into the mainstream. U.S. SRI assets reached $12 trillion in 2018, 38% more than in 2016. SRI investments now account for about one-fourth of all professionally managed U.S. assets.1 Surveys suggest …

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December 2019 Monthly Recap

Nest Opportunity Fund The Team at Beacon Hill is proud to announce the launch of Nest. Nest is a positive impact investment fund with significant tax advantages. We invest in residential real estate located in America’s underserved communities. Nest Opportunity Fund is appropriate for accredited investors who have over $100k in capital gains realized in …

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2020 Contribution Limits

The IRS has announced Cost-of-Living adjustments for contribution limits to 401(k)s and other qualified plans for 2020. Contributions to IRAs will remain the same. See the chart below to see how the changes will affect you. Type of Limitation 2020 2019 401(k), 457 and 403(b) maximum annual elective deferral limit $19,500 $19,000 401(k), 403(b), or …

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