LIFESTYLE DRIVEN ADVICE
JANUARY 2023

Hello,

A new year means new beginnings—and this year, it also means new rules regarding retirement accounts that could affect your wealth management strategy. In a recent edition of “Wealth Insights,” XML President Curtis Congdon was joined by XML Senior Wealth Advisor, Lauren O'Brien, CFP®, CPA, to discuss the recently passed SECURE Act 2.0 and took a closer look at how it could impact your financial planning.

On the subject of retirement planning, many savers aim to pay off their mortgage before they reach retirement as a way to reduce cost of living and minimize fixed expenses in retirement. This approach makes sense on paper—but as we discussed in a recent blog post, for some people, that money could be put to more practical use. Elsewhere on our blog, we took a closer look at an oft-overlooked aspect of retirement planning: knowing when the time is right to retire. 

So much of retirement planning focuses on funding and reaching a financially secure retirement. But what happens if you need care after you retire and can no longer live independently? On February 15 at 11 AM, XML’s Lauren O'Brien, CFP®, CPA, will host a must-see discussion on navigating the senior living landscape, featuring answers and insights from a panel of senior living specialists. To register for this important webinar, click here.

As always, if you have any questions about the information shared in the newsletter, please don’t hesitate to get in touch.

Wealth Insights: SECURE Act 2.0

In this edition of Wealth Insights, XML President, Curtis Congdon, and XML Senior Wealth Advisor, Lauren O'Brien, CFP®, CPA, discussed some of the notable points in the newly passed piece of legislation, the SECURE Act 2.0. 

Blogs

Is Paying Off Your Mortgage Before Retirement A Good Idea?

Many savers push to pay off their mortgage before they reach retirement age in order to reduce their monthly expenses once they are done working. However, depending on your financial picture, paying off a mortgage might not offer as much of a benefit as you think—and in some cases, it can even negatively impact your retirement strategy.

Ready To Retire? These 6 Factors Can Help You Decide

Knowing when to retire can be challenging. Most of us spend 30 to 40 years in the workforce, and it can be difficult to know when the time is right to move on to the next chapter in your life. Fortunately, there are some guideposts that you can use to help determine if you’re financially and emotionally ready to call it a career.

Webinars

Navigating the Senior Living Landscape

It’s a topic that keeps many up at night: What will I do if I need care? Where will I go? How much will it cost? Trying to understand the spectrum of senior living—from retirement communities to assisted living to skilled nursing and more—can feel like tumbling down a rabbit hole.

On Wednesday, February 15 at 11:00 AM, we tackle this vital topic in retirement. Lauren O'Brien, CFP®, CPA, will lead us through a conversation with senior living specialists, Rachel McLean, MSW (The Mather) and Leila A. Orndorff (Shenandoah Valley Westminster-Canterbury) on the considerations when evaluating your options, how to talk about it with family members, and how to arm yourself with information and the questions to ask as you proactively design this stage of life. Bring your questions and bring your loved ones for this important conversation together.

XML Team News

Cooking with Nonna

We capped off the end of 2022 with a fun event, Cooking with Nonna Nerina! Lots of laughs, love, and pasta was created and shared during this event, and everyone had a fantastic time! 

Congratulations, Caleb Long!

Caleb Long recently passed his Series 65 exam and has now been promoted to Associate Wealth Advisor. Congratulations, Caleb, and we look forward to many more of your accomplishments!

 RMD Rule Change

A by-product of the recently passed Secure 2.0 Act is the change in age for RMD. The new law raises the RMD starting age to 73 and this will take effect this year.

Client Referral

At XML Financial Group, we believe in servicing our client relationships at the highest level. If you have had a positive experience with us, there is no higher compliment you can pay us than by referring family, friends, or anyone else who

would be interested in working with us. If you know someone who could benefit from

our lifestyle driven advice and client-first approach to wealth management, please consider sharing a referral.

This communication is for information and educational purposes only. This is not a recommendation for the sale or investment in any product or strategy nor should it be perceived as individual advice. Information presented has been prepared from sources believed to be reliable but is not guaranteed and does not represent all available data necessary for making investment decisions. Economic and market forecasts presented herein reflect a series of assumptions and judgments as of the date of this presentation and are subject to change without notice. Forecasts do not consider the specific investment objectives, restrictions, tax and financial situation or other needs of an individual. Actual data will vary and may not be reflected here. Accordingly, these forecasts should be viewed as merely representative of a broad range of possible outcomes. The opinion expressed by this individual is based on facts and circumstances known at this time, is subject to change and does not reflect the opinions of all financial professionals of XML.