April 16, 2024
New Study Reveals Insights into Donor-Advised Funds | American Endowment Foundation
Calling anyone who is charitably inclined!
Our team utilizes a number of different giving strategies/vehicles, one of which is called a donor-advised fund. DAFs have grown in popularity in recent years for a number of different reasons, and a recent study shed some light on how they are being used.
For instance, the median size of the DAFs studied was roughly $50,000. Only 7% of the DAFs looked at exceeded a balance of $1,000,000 (only 1% were over $10,000,000). On top of that, the average annual payout rate was 18%, a significantly higher figure than the payout rate of Private Foundation donors.
Put simply, DAFs are less restrictive, require less of an initial investment and can foster active giving now and into the future (even after you pass away).
Please give our team a call, shoot us a text or email us if you have any questions surrounding how you are giving to charities. Whether through a DAF or another approach, we're here to help you as you seek to help the organizations near and dear to your heart.
Phone: (724) 743-3301
Text: (724) 888-5684
Email: themcnamarainvestmentgroup@janney.com
https://www.aefonline.org/thought-leadership/new-study-reveals-insights-into-donor-advised-funds/?utm_source=newsletter&utm_medium=email&utm_campaign=insights&utm_content=daf-study
April 11, 2024
Window of Opportunity: Leveraging the Estate and Gift Tax Exemption
Consider the planning strategies outlined in this article to take advantage of the current estate and gift tax exemption before its sunset at the end of 2025.
March 13, 2024
Simple Safeguards: How to Protect Yourself from Identity Theft and Cybercrime.
Janney has once again invited retired FBI Special Agent, Jeff Lanza to present his popular webinar on how to protect yourself from the latest trends in identity theft and cybercrime. You won’t want to miss this valuable program!
Featuring Jeff Lanza, Retired FBI Special Agent
March 01, 2024
Consider a Backdoor Roth if You Make Too Much to Contribute to a Roth IRA
If your income is too high for a Roth IRA, consider this backdoor strategy, which allows you to convert from a traditional IRA to a Roth—despite IRS-imposed income limits.
February 01, 2024
Tax Information & Forms
Be sure to check out our 2023 Client Tax Resources for updated mailing schedules, resources, and tax forms as you prepare for upcoming tax deadlines.
January 04, 2024
Outlook 2024 offers the Janney Investment Strategy Group’s baseline forecasts for the economy and equity and fixed income markets in the new year.
Read more: https://bit.ly/3vuHurR
Plus, there’s still time to register for our 2024 Market Outlook Event presented by Janney’s Investment Strategy Group on Wednesday, January 10, at 12 noon ET.
Register here: https://bit.ly/41K5G5Kin
January 03, 2024
Outlook 2024
Outlook 2024 offers the Janney Investment Strategy Group’s baseline forecasts for the economy and equity and fixed income markets in the coming year.
December 01, 2023
9 Considerations for 2023 Year-End Tax Planning
Find time for your financial health during your holiday plans by considering the year-end estate and tax planning strategies highlighted in this article.
November 30, 2023
Janney's 2024 Market Outlook
The Federal Reserve has made significant progress in bringing down inflation while maintaining growth in the U.S. economy. Can it continue in 2024? Join our exclusive virtual presentation where Janney’s Investment Strategy Group shares their views on the current state, their outlook for the coming year, and what you should know about the economy and markets’ potential impact on your portfolio strategy.
Featuring: Janney’s Investment Strategy Group
Mark Luschini | Chief Investment Strategist
Mike Halloran | Equity Strategist
Guy LeBas | Director Custom Fixed Income Solutions
November 01, 2023
Make Long-Term Care a Part of Your Financial Plan
It’s Long-Term Care Awareness Month—are you prepared to handle the costs of a long-term care event in your retirement years? This article can help you plan for them.
October 16, 2023
Medicare Open Enrollment Begins Oct 15 | The McNamara Investment Group
Yesterday marked the beginning of another Medicare Open Enrollment period. This is your chance to review your current coverage and compare it with other options that may better suit your needs and budget.
Click below to read more about what you should consider when this time rolls around every year and for a quick overview of the options available through Medicare and Medicare Advantage.
You have until December 7 to make changes. If you're satisfied with what you currently have, you don't have to do anything - your current coverage will continue. For any specific questions, we urge you to visit medicare.gov or call 1-800-MEDICARE.
https://files.constantcontact.com/c839c829701/e8564888-354c-46c4-9600-7468d27b5790.pdf
October 03, 2023
Saving for Retirement? Now There’s More Time to Make Catch-Up Contributions
Eligible Americans saving for retirement can continue catch-up contributions on pretax basis through 2025, under a change recently issued by the Internal Revenue Service (IRS).
September 30, 2023
October 2023 Newsletter - The McNamara Investment Group
Our October "pumpkin-flavored" newsletter is hot off the presses!
In this edition, we recap the market headlines for September, including an overview of the latest economic data, look at housing trends and relive some classic Pittsburgh sports moments. Feel free to call, text or email our team with any questions.
Have a great weekend!
https://conta.cc/3ZE88K8
September 27, 2023
Dan presented on the topic of personal finance to students at his alma mater, Coshocton High School in Coshocton, Ohio, this past week. This was a part of our team's continuing efforts to help educate the next generation to ensure they are financially literate when they graduate.
"I can't thank Mr. Clark and the administration at Coshocton enough for the opportunity to speak with these students," said Dan. "The program at CHS has garnered statewide and national recognition, a fact I am tremendously proud of. It was a privilege to engage with so many bright, young people, and I look forward to being back again soon!"
Dan also has presented locally at Peters Township High School, and the team hopes to reach more students throughout our region in the coming months.
September 20, 2023
Dept of Ed Launches New SAVE Income-Driven Repayment Plan - The McNamara Investment Group
With federal student loan payments set to resume the first of the month, the Department of Education recently announced changes to its income-driven repayment plan.
Considered the "most generous" repayment plan to date, the Saving on a Valuable Education (SAVE) Plan will increase the income threshold for payments up to 225% of the federal poverty level and eliminate the accrual of unpaid monthly interest, as long as borrowers make their monthly payments as required under SAVE.
In July 2024, borrowers will see additional changes, including a cap on their monthly payments of no more than 5% of their discretionary income (10% for graduate loans) and a sliding scale for federal student loan forgiveness moving forward.
Click the link below to read more about these changes and to find instructions on how to enroll in the SAVE Plan. As always, if you have any questions, please...
call - (724)743-3301
text - (724)888-5684
email - themcnamarainvestmentgroup@janney.com
https://files.constantcontact.com/c839c829701/9982e0e0-8314-4e31-8055-9e2e6b9b3a2f.pdf
September 16, 2023
Tax & Estate Planning Virtual Seminar
Whether it’s the possibility of tax laws changing soon or recent updates impacting inherited retirement accounts, there’s a lot to consider when it comes to tax and estate planning.
Join us for this exclusive virtual seminar where we will explore what to do before the 2017 Tax Cuts and Jobs Act sunsets, estate & gift planning strategies, charitable gifting, and income tax planning opportunities, as well as new provisions in Secure Act & Secure Act 2.0, types of beneficiaries and the new 10-year payout, using trusts as beneficiaries, and incorporating Secure Act & Secure Act 2.0 within your financial plan.
September 13, 2023
FAFSA Simplification Act Changes for Implementation in 2024-25 | Knowledge Center
ICYMI, earlier this year, the Dept of Education announced a delay in the release of the 2024-25 FAFSA. The application is expected to open sometime in December 2023, as opposed to its usual time of October 1.
The Free Application for Federal Student Aid has been undergoing a redesign that the DOE has called "the most ambitious and significant redesign...in decades [that] will significantly simplify how students, parents and other educational stakeholders use the FAFSA."
Click the link below to read more about these changes, which include a transition away from Expected Family Contribution calculations and adjustments to how minors savings accounts (like 529s) are treated, among others.
If you have any questions, be sure to call, text or email our team today!
https://fsapartners.ed.gov/knowledge-center/library/dear-colleague-letters/2023-08-04/fafsa-simplification-act-changes-implementation-2024-25